On account of increasing population, consumer awareness and rising disposable income, the global pharmaceutical packaging market will grow 2.2X from 2019 to 2029.
Global demand for pharmaceutical packaging to grow at 7.5% CAGR during the forecast period. The pharmaceutical packaging industry analysis shows that the market is set to touch 87 Bn in 2021, growing from 5.1% CAGR between 2016 and 2020.
Sensing the opportunities, pharmaceutical packaging manufacturers are relying on new product development and strategic mergers. As per Fact.MR analysis, top 5 players account for nearly 60% share.
Key Takeaways of Pharmaceuticals Packaging Market Study
- Plastics & Polymers will grow 2X during the forecast on the back of increasing adoption of sub-segments such as polypropylene in sustainable packaging practices.
- Primary pharmaceutical packaging is going to grow two-folds between 2019 and 2029. Development of new drugs such as Apelisib (Piqray, Selinexor (Xpovio) will further generate demand for primary packaging.
- Contract packaging will show 2.4X growth through the end of forecast. This is attributable to prevalence of strategic partnership between pharmaceutical companies and packaging manufacturers.
- North American pharmaceutical packaging market exhibits 1.8X growth during the forecast period. Growing geriatric population, coupled with health conscious millennials opting for preventive care, positions this region as a majority shareholder of the total market value.
“Sustainability is key to growth in pharmaceutical packaging market. Governments are proactively lobbying packaging and product labelling practices and introducing regulations on a frequent basis. Manufacturers stand to gain sustainable growth by curbing environmental pollution from packaging waste. “-Says the Fact.MR Analyst
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Prominent Key Players Of The Pharmaceutical Packaging Market Survey Report:
- Becton Dickinson & Company
- AptarGroup Inc.
- Drug Plastics Group
- Gerresheimer AG
- Schott AG
- Owens Illinois Inc.
- West Pharmaceutical Services Inc.
- Berry Global Inc.
- WestRock Company SGD S.A.
- International Paper Company
- COMAR LLC
- CCL Industries Inc.
- Vetter Pharma International.
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Global Pharmaceutical Packaging Market: In-Depth Assessment on Key Segments
The global pharmaceutical packaging market is segmented on the basis of material, product type, application and region.
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By Material :
- Plastics & Polymers
- Polypropylene (PP)
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Others
- Paper & Paperboard
- Glass
- Aluminum Foil
- Others
- Plastics & Polymers
-
By Product Type :
- Primary Pharmaceutical Packaging
- Plastic Bottles
- Caps & Closures
- Parenteral Containers
- Blister Packs
- Prefillable Inhalers
- Pouches
- Medication Tubes
- Others
- Secondary Pharmaceutical Packaging
- Prescription Containers
- Pharmaceutical Packaging Accessories
- Tertiary Pharmaceutical Packaging
- Primary Pharmaceutical Packaging
-
By Application :
- Pharmaceutical Manufacturing
- Retail Pharmacy
- Contract Packaging
- Institutional Pharmacy
- Others
Questionnaire answered in the Pharmaceutical Packaging Market report include:
- How the market for Pharmaceutical Packaging has grown?
- What is the present and future outlook of the global Pharmaceutical Packaging on the basis of region?
- What are the challenges and opportunities for the Pharmaceutical Packaging?
- Why the consumption of Pharmaceutical Packaging highest in region?
- In which year segment is expected to overtake segment?
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What makes Fact.MR report stand out from others?
- MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Pharmaceutical Packaging market. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
- Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Pharmaceutical Packaging market, thus, making it different and special from other reports.
- Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
- Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Pharmaceutical Packaging market and assists to create strategies to overcome the obstacles that may hinder the growth of the Pharmaceutical Packaging market.
- Leverage: The Pharmaceutical Packaging market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
- Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
- Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Pharmaceutical Packaging market.
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