A Healthcare Experts' Guide On Pharmaceutical Packaging Market | Future Scope And In-Depth Analysis

(MENAFN- EIN Presswire)

Pharmaceutical packaging is the packages and the packaging processes for Pharmaceutical preparations.

PORTLAND, OREGON, UNITED STATES, September 14, 2022 /EINPresswire.com / -- As per the report published by Allied market Research, the global Pharmaceutical Packaging Market accounted for $88.87 billion in 2019, and is estimated to hit $144.23 billion by 2027, registering a CAGR of 6.1% from 2020 to 2027. The report provides a quantitative analysis of current market trends, estimates and dynamics of the market size from 2019 to 2027 to identify the prevailing market opportunities.

♦ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭:

Pharmaceutical packaging is the process of wrapping and packaging pharmaceutical preparations. It involves all operations from production through drug distribution channels to the final consumer. Packaging also refers to the packaging design, evaluation and manufacturing process. Furthermore, packaging is often involved in dispensing, dosing and using the pharmaceutical product. Additionally, the future of pharmaceutical packaging will see a shift towards more sustainable materials, moving away from the plastics that the industry has relied so heavily on for design and manufacturing.

The increase in research and development and the use of innovative packaging, advanced manufacturing processes for the development of environmentally friendly packaging solutions and the increase in product innovations are driving the growth of the global pharmaceutical packaging market. Additionally, serialized tracking and drug tracking complemented market growth. However, strict government regulations and commodity price volatility hinder market growth. Conversely, the increase in the use of smart packaging for patient participation and identification, the development in the biotech sector, and the rise of patient-oriented drugs, such as biologics, would open lucrative opportunities for actors in the future. of the market.

Major Key Players In The Report Are -

The global pharmaceutical packaging market report includes an in-depth analysis of the key market players such as
Amcor Ltd.,
Catalent Inc.,
Aptar Group, Inc.,
Becton, Dickinson and Company,
CCL Industries Inc.,
West Pharmaceutical Services, Inc.,
Gerresheimer AG,
Berry Global Group, Inc.,
Nipro Corporation, and
SCHOTT Pharmaceutical Packaging.

Covid-19 scenario:

The Covid-19 outbreak and followed lockdown resulted in restrictions on transportation, dearth of the workforce, and lack of raw materials.

The demand for primary packaging would increase after the approval of the Covid-19 vaccine as it would rely on several administration routes including inhaled, oral, transdermal, and injectable.

♦ 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐟𝐨𝐫 𝐒𝐡𝐨𝐫𝐭-𝐭𝐞𝐫𝐦 𝐚𝐧𝐝 𝐋𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐈𝐦𝐩𝐚𝐜𝐭𝐬 𝐨𝐟 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐚𝐭:

During the coronavirus pandemic, people are becoming more aware of health safety, leading to greater concerns about the recall of packaged health products. In addition, many pharmaceutical companies have also benefited from health problems. For example, INEOS plans to build a hand sanitizer plant within ten days so that it can produce one million bottles per month. SCHOTT is also supporting the global fight against COVID-19 with vials capable of holding up to 2 billion vaccination doses. Furthermore, borosilicate glass is the most widely used material for vaccine packaging and has been used for more than a century. Approximately 50 billion borosilicate glass containers are produced each year worldwide for use with a wide variety of vaccines and treatments.

With an established infrastructure and long-term filling / finishing experience, most COVID-19 vaccines are likely to use this packaging format. For example, SCHOTT, which operates a validated global manufacturing network of 20 factories and more than 600 pharmaceutical glass manufacturing and packaging lines, has already delivered millions of glass vials to SARS-CoV-2 programs, including the supply of three out of four COVID-19 vaccine projects in Phase I, II and III studies. There, these above reasons should drive the growth of the market.

The global pharmaceutical packaging market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion's share in 2019, contributing to more than two-fifths of the market. However, the market across Asia-Pacific is estimated to register the highest CAGR of 7.9% during the forecast period.

The 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐦𝐚𝐫𝐤𝐞𝐭 had witnessed supremacy in terms of revenue in 2019, owing to high purchasing power coupled with rise in adoption rate of smart and advanced packages. Further, U.S. in North America region has accounted for generating largest share, and will continue to be the largest share. This is attributed as U.S. is the advanced drug-producing sector commercializes new sophisticated therapies with specialized packaging needs. On the other hand, the market in Asia-Pacific is expected to register the highest CAGR in terms of revenue during the forecast period pertaining to growth in the purchasing power of populated countries such as China, Japan, and India.

♦ 𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭:

Key findings of the study -

By product type, the Others segment accounted for a XX% market revenue share in 2019.

By region, North America had a XX% revenue share of the global hormone replacement therapy market in 2019.

The Asia-Pacific market is expected to grow with the highest CAGR of XX% during the forecast period.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Analytics LLP
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