Pharmaceutical Packaging Market Size 2020

Summary

Global Pharmaceutical Packaging Market Size Research Report: Information by Material (Plastic, Paper & Paperboard, Glass), Type (Bottle, Aerosol Pack, Tubes, Blister Pack, Sachets), Packaging (Rigid, Flexible, Semi-rigid), Application (Generic Drugs, Branded Drugs, Medical Tools & Equipment, Test Kits, Nutraceuticals), and Region - Forecast till 2023

Pharmaceutical Packaging Market Size Segmentation

The evolution of the pharmaceutical sector is expected to encourage the Pharmaceutical Packaging Market Size. Reports that deliver insights into the energy and power industry has been presented by Market Research Future, which creates reports on industry verticals that judge the market progress and options for growth. A 6.51 % CAGR is predicted to bolster the market in the coming period.

The stringent regulations relating to packaging imposed by governments has led to the further diversification of the offering in the market for pharmaceutical packaging. Moreover, the development of anti-counterfeiting technologies to prevent the tampering of goods is expected to promote the Pharmaceutical Packaging Market Size. Moreover, the pharmaceutical packaging suppliers are also developing more robust supply chains to ensure an uninterrupted supply of products in the market.

Factors Driving the Market

The pharmaceutical packaging market size is expected to witness a notable growth in the coming years, owing to the increase in convenience of handling, and delivery of the products. Recently, several pharmaceutical companies have inclined towards usage of eco-friendly pharmaceutical packages to overcome environmental challenges.

In pharmaceutical packing world, the constant innovation is the key to growing the market along with ensuring the safety of patients. In addition, the reduced costs of pharmaceutical packaging due to advancement in technology is also a key factor in maintaining the high position of the Pharmaceutical Packaging Market Size. Despite, increased R&D and rise in trend of new packaging, it is creating a competitive wave among other pharmaceutical companies.

Considering all these factors, along with the growing pharmaceutical industry, will continue to drive demands for packaging. However, the concern over the packaging industry is also to overcome challenges, such as availability and price of raw materials to meet increasing demands in the pharmaceutical industry.

Market Segmentation

In the pharmaceutical market, the segmentation is done over materials, type, packaging, and application.

By mode of materials, the market includes usage of plastic, glass, paper, and other materials.

By mode of type, the market has been segmented into bottle & vitals, aerosol packs, tubes, blister packs, sachets, ampoules and more.

By mode of packaging, the Pharmaceutical Packaging Market Size has been segmented into medical tools & equipment, generic drugs, branded drugs, and others.

Key Market Players

Some of the key players in the global Pharmaceutical Packaging Market Size include Amcor Ltd. (Australia), Schott AG (Germany), AptarGroup, Inc. (U.S.), Gerresheimer AG (Germany), Becton, Dickinson and Company (U.S.), Capsugel Inc. (U.S.), Owens-Illinois (U.S.), Berry Plastics Group (U.S.), Westrock Company (U.S), and COMAR LLC (U.S.).

Regional segmentation

Geographically, the Pharmaceutical Packaging Market Size has shown immense growth in regions such as Asia-Pacific, North America, Europe, and the Middle East & Africa.

High adoption of new technological pharmaceutical packaging is witnessed in North America due to the availability of raw materials and constant R&D activities. Also, an increase in investment for adequate drug delivery techniques has also driven the market to a high CAGR in recent years.

On the other hand, Asia Pacific is expected to experience high growth in the Pharmaceutical Packaging Market Size in the coming year. India and China are witnessing rapid expansion of pharmaceutical manufacturing opportunities and more adoption in techniques for improving the quality of medicine packaging process.

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