Global Demand for Parenteral Containers to Grow 7.7% Annually Through 2023

Parenteral containers will generate favorable growth opportunities in both developed and developing countries. The developed economies of the United States, Canada, Western Europe, Japan, and South Korea will account for 61% of 2023 demand, reflecting the broad range of injectable medication produced by advanced pharmaceutical industries. These and other trends are included in Global Pharmaceutical Packaging, a study from The Freedonia Group. 

Demand in the rest of the world will remain more limited based on the lower volume and less diverse mix of parenteral drug production. However, overall growth in the developing countries will expand at a fast pace as pharmaceutical makers gradually broaden lines of injectable therapies.

Global demand for parenteral containers is forecast to increase 7.7% annually to $19.5 billion in 2023, representing 97.8 billion units. Gains will be divided among prefillable syringes, vials and ampuls, and IV containers and will follow trends in the development and production of injectable medicines. Through 2023, parenteral containers will post one of the fastest gains in demand value among all pharmaceutical packaging segments.

Contact Corinne Gangloff for an interview with the analyst.

Additional Packaging studies can be viewed here:

https://www.freedoniagroup.com/industry-category/pack/packaging.htm