Global India Pharmaceutical Packaging Market is Estimated to Witness High Growth
The India Pharmaceutical Packaging market is estimated to be valued at US$ 1.7 Bn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The India Pharmaceutical Packaging market involves the packaging and delivery of pharmaceutical products. It plays a vital role in preserving the quality, integrity, and safety of drugs during storage, transportation, and distribution. The packaging not only protects the drugs from external factors but also ensures proper dosage administration. With increasing demand for pharmaceuticals, the need for efficient and innovative packaging solutions has also increased. This market offers various packaging options such as bottles, blister packs, vials, ampoules, and tubes. The packaging also includes labeling, leaflets, and tamper-evident features to comply with regulatory standards.
Key Takeaways:
The India pharmaceutical packaging market is expected to witness high growth, exhibiting a CAGR of 9.7% over the forecast period of 2023-2030. This growth is attributed to factors such as increasing healthcare expenditure, rising demand for generic drugs, and advancements in drug delivery systems.
In terms of regional analysis, India is the fastest growing and dominating region in the pharmaceutical packaging market. The country has a large population and a strong pharmaceutical manufacturing industry, which drives the demand for packaging solutions.
Key players operating in the India pharmaceutical packaging market include Amcor Plc., Aptar Group Inc., Huhtamaki Plc., and Uflex Limited. These companies have a strong presence in the market and are actively involved in developing innovative and sustainable packaging solutions for the pharmaceutical industry.
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