CLEVELAND, Jan. 21, 2020 /PRNewswire/ -- 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.
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About The Freedonia Group ? The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group
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