The global Pharmaceutical Packaging Market is anticipated to grow at a significant rate owing to raid advancements and technological developments in the sector. The report offers strategic recommendations to the businesses and investors to capitalize on the lucrative growth opportunities of Pharmaceutical Packaging Market. It also covers mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, agreements, and partnerships, among others. It also offers insights into the manufacturing processes, revenue estimations, R&D advancements, and industrial penetration of Pharmaceutical Packaging Market.
The global pharmaceutical packaging market size was USD 114.98 Billion in 2022 and is expected to register a revenue CAGR of 14.5% during the forecast period, according to latest analysis by Emergen Research. Growing awareness about verifying pharmaceutical product details in packaging along with rapid advancements in packaging technology is a key factor driving market revenue growth. in addition, increasing use of drugs in the form of capsules and other forms of medication is also driving growth of the market.
Rising incidence of various diseases due to pandemic, which is increasing usage of pharmaceuticals, treatments, lotions, and other formulations, can also be attributable to growing demand for pharmaceutical packaging. As a result, new pharmaceuticals are being developed and customers are becoming more aware of the importance of checking medical packaging before purchase to verify production and expiry date. Certain formulations need to be isolated from air, water, environmental contaminants, light, and other substances, hence pharmaceutical packaging provides protection to the product in accordance with its composition. According to European Federation of Pharmaceutical Industries and Associations (EFPIA) report, production of pharmaceutical products has risen by around 5.7% between 2019 and 2020, with an estimated valuation of around USD 368 million. The 2021 report further suggests that over USD 46 million was spent in the Research & Development (R&D) sector of European pharmaceutical industries in 2020.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the Pharmaceutical Packaging market. Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analysed and validated through primaries.
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The study further explores and provides an in-depth analysis of current market dynamics and recent trends, focusing on various key factors and potential growth opportunities and risks. The report focuses on leading regions and their major countries to anticipate market growth in the forecast years.
Some major companies in the global market report include AptarGroup, Inc., ACIC Pharmaceuticals Inc., BD, West Pharmaceutical Services, Inc., Comar, Gerresheimer AG, Schott, Nemera, Amcor plc., and Medical Packaging Inc., LLC.
Highlights from the Report
- The blister pack strips segment is expected to account for a significantly larger revenue share during the forecast period. Over 50% of total medicines consumed by patients globally are manufactured in the form of tablets and capsules, which are packaged in blister packs or plastic bottles, whereas plastic bottles cause environmental issues owing to non-biodegradability.
- Blister pack strips incorporate a little quantity of plastic together with recyclable metals such as aluminum. This is driving demand for blister pack strip packaging for distribution of capsules and tablets.
- The plastic segment is expected to account for a significantly large revenue share during the forecast period. Bottles made from different polymers and plastics are relatively more resistant to shear and stress than their counterparts made with glass. It is lightweight and flexible, therefore can be molded into any shape according to the requirement of pharmaceutical product. Medical-grade polymers are inert and resistant to chemical corrosion that can be imparted to packaging by medicinal composition.
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The report studies the historical data of the Pharmaceutical Packaging Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
Emergen Research has segmented the global pharmaceutical packaging market based on product, material, end-use, and region:
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Blister Pack Strips
- Fluid Bags
- Bottles and Caps
- Ampoules
- Medication Tubes
- Others
- Material Outlook (Revenue, USD Billion; 2019-2030)
- Plastic
- Polyvinyl Chloride
- Ethylene Vinyl Acetate
- Polypropylene
- Others
- Glass
- Borosilicate Glass
- Amber Color Glass
- Others
- Paper
- Aluminum
- Others
- Plastic
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Pharmaceutical Industry
- Hospitals
- Nursing Homes
- Contract Packaging
- Pharmacies and Retail Stores
Geographical Segmentation:
The latest research report entails an in-depth analysis of the current growth opportunities for various regions of the Pharmaceutical Packaging Market, gauging their revenue share over the forecast timeline. Furthermore, the report analyses the year-on-year growth rate of these regions over the forecast duration. The leading market regions profiled in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report offers a comprehensive understanding of the impact of the COVID-19 pandemic on the overall market growth and expansion. COVID-19 has affected the global economy by interfering with production and demand, causing market disruption, and inducing financial instability.
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Radical Features of the Pharmaceutical Packaging Market Report:
- The report encompasses Pharmaceutical Packaging market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Pharmaceutical Packaging industry
Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements.
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