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Pune, India, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The global pharmaceutical packaging market size was valued at USD 95.36 billion in 2021. The market is projected to grow from USD 101.59 billion in 2022 to USD 150.78 billion by 2029, exhibiting a CAGR of 5.8% during the forecast period.
This information is presented by Fortune Business Insights , in its report titled,“ Pharmaceutical Packaging Market, 2022-2029 .”
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List of Key Players Mentioned in the Report:
Amcor Plc (Switzerland) Gerresheimer AG (Germany) SCHOTT AG (Germany) WestRock (U.S.) AptarGroup, Inc. (U.S.) Berry Global, Inc (U.S.) NIPRO (Japan) CCL Industries Inc. (Canada) West Pharmaceutical Services (U.S.) SGD Pharma (France) Ardagh Group S.A. (Luxembourg) International Paper (U.S.) Comar LLC (U.S.) Vetter Pharma (Germany) Nolato AB (Sweden) Origin Pharma Packaging (U.K.) Huhtamäki Oyj (Finland) Parekhplast India Limited (India) Regent Plast Pvt. Ltd. (India) Graham Blow Pack Pvt. Limited (India)
Report Scope & Segmentation:
| Report Coverage || Details |
| Forecast Period || 2022-2029 |
| Forecast CAGR || 5.8% |
| 2029 Value Projection || USD 150.78 Billion |
| Base Year || 2021 |
| Pharmaceutical Packaging Market Size in 2021 || USD 95.36 Billion |
| Historical Data || 2018-2020 |
| No. of Pages || 318 |
| Segments Covered || By Type, By Application and Regional |
| Pharmaceutical Packaging Market Growth Drivers || Plastics Segment to Remain the Largest Material Used in the Market |
| North America to Lead Backed by Elevated Demand for Packaging due to Rising Healthcare Expenditure |
Increasing Demand for Online Shopping Fueled the Pharmaceutical Packaging Market Growth
The coronavirus pandemic has causing hardship in several businesses, which led to a shortage of raw materials and interrupted supply networks. West Pharmaceutical Services businesses, however, were excluded from the lockdown limitations due to the importance of their operations to the neighborhood. In order to produce healthcare items, the pharmaceutical business was established, and government support for prescription meds and generic medications will encourage market expansion. The market's leading manufacturers have automated their processes to keep up with the rising demand for pharmaceutical items connected to COVID-19.
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Plastics Segment to Remain the Largest Material Used in the Market
Based on material, the market is segmented into plastics, glass, metal, paper & paperboard, and others. Plastic is the most considerable raw material used in the production of pharmaceutical packaging.
Bottles Segment to Account for the Major Share during the Forecast Period
Based on product type, the market is categorized into bottles, caps & closures, pre-fillable inhalers, pre-fillable syringes, vials & ampoules, blister packs, bags & pouches, jars & canisters, cartridges, and others. Among these, bottles segment is the most significant product type.
Primary Packaging Segment to be the Fastest-Growing Packaging Type in the Market
Based on packaging type, the market is classified into primary, secondary, and tertiary. Primary packaging is the most significant packaging type growing at the highest CAGR in this market.
Oral Drug Delivery Packaging to Account for Dominant Share during the Forecast Period
Based on drug delivery mode, the market is segmented into oral drug delivery packaging, topical drug delivery packaging, injectable packaging, ocular drug delivery packaging, pulmonary drug delivery packaging, transdermal drug delivery packaging, nasal drug delivery packaging, and others. Oral drug delivery packaging is the dominant segment in the global market.
The market analysis has been done across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The report presents a systematic study of the market's segments and thorough analysis of the market overview. A thoughtful evaluation of the current market trends as well as the future opportunities is offered in the report.
Drivers and Restraints:
Rising Pharmaceutical Industry Around the Globe to Drive Market Growth
In wealthy nations such as the U.S., the U.K., and Germany as well as in developing nations such as China, India, and Brazil, the pharmaceutical sector is expanding quickly. The population is growing, technological advancements are increasing, healthcare awareness is increasing, advanced manufacturing techniques are being adopted, public healthcare system spending is increasing, and new government regulations are being put in place to stop the spread of infectious diseases. Additionally, the rising demand for biological products and emerging treatments such as cell and gene therapies are expected to promote the growth of the pharmaceutical industry. The need for pharmaceutical packaging products will result from this.
North America to Lead Backed by Elevated Demand for Packaging due to Rising Healthcare Expenditure
The U.S. is the largest contributor to North America, which has the largest pharmaceutical packaging market share. This area's development is attributable to the pharmaceutical industry's explosive growth. The market in this region is being driven by the increased need for primary packaging goods, rising healthcare spending, and rising disease prevalence.
Germany, the U.K., and Italy in Europe accounted for the second-largest market in the globe. Pre-filled syringes, plastic bottles, containers, vials, and ampoules have all aided in the expansion of this industry.
China, Japan, and India are the top three nations in Asia Pacific contributing to the market expansion.
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster their brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
Key Industry Development:
May 2022: The introduction of EcoPositive, a label for all of the company's sustainable packaging options, has been announced by Bormioli Pharma, a producer of glass and plastic primary packaging for pharmaceutical applications. This includes products made of innovative polymers, recycled glass and plastic, and plastics that are bio-based, compostable, or biodegradable.
Browse Detailed Summary of Research Report with TOC:
Detailed Table of Content:
Research Scope Market Segmentation Research Methodology Definitions and Assumptions Executive Summary Market Dynamics
Market Drivers Market Restraints Market Opportunities Key Insights
Key Emerging Trends – For Major Countries Latest Technological Advancement Regulatory Landscape Industry SWOT Analysis Porters Five Forces Analysis Impact of COVID-19 on the Pharmaceutical Packaging Market Global Pharmaceutical Packaging Market Analysis (USD Billion), Insights and Forecast, 2018-2029
Key Findings / Summary Market Analysis, Insights and Forecast – By Material North America Pharmaceutical Packaging Market Analysis (USD Billion), Insights and Forecast, 2018-2029
Glass Metals Paper & Paperboard Others Market Analysis, Insights and Forecast – By Product Type
Bottles Caps & Closures Pre-Fillable Inhalers Pre-Fillable Syringes Vials & Ampoules Blister Packs Bags & Pouches Jars & Canisters Cartridges Others Market Analysis, Insights and Forecast – By Drug Delivery Mode
Oral Drug Delivery Packaging Injectable Packaging Topical Drug Delivery Packaging Pulmonary Drug Delivery Packaging Transdermal Drug Delivery Packaging Ocular Drug Delivery Packaging Nasal Drug Delivery Packaging Others Market Analysis, Insights and Forecast – By Packaging Type
Primary Secondary Tertiary Market Analysis, Insights and Forecast – By Region
North America Europe Asia Pacific Latin America Middle East & Africa
Key Findings / Summary Market Analysis, Insights and Forecast – By Material
Glass Metals Paper & Paperboard Others Market Analysis, Insights and Forecast – By Product Type
Bottles Caps & Closures Pre-Fillable Inhalers Pre-Fillable Syringes Vials & Ampoules Blister Packs Bags & Pouches Jars & Canisters Cartridges Others
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