The global pharmaceutical packaging market size is projected to reach USD 196.8 billion by 2026 from USD 99.9 billion in 2021, at a CAGR of 14.5%

during the forecast period. The ever-increasing demand for pharmaceutical packaging in emerging markets owing to better access to healthcare, rising healthcare expenses, and growing consumer awareness regarding healthier lifestyle.

New York, July 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pharmaceutical Packaging Market by Raw Material, Type, Drug Delivery And Region - Global Forecast to 2026" - https://www.reportlinker.com/p04773678/?utm_source=GNW
Additionally, advanced drug delivery and innovative packaging solutions with higher patient convenience and compliance drive the market for pharmaceutical packaging. Rising occurrences of chronic diseases such as cancer, infectious diseases, and others and rising aging population necessitating advanced and patient friendly packaging are also expected to drive the market for pharmaceutical packaging during the forecast period.

Plastics accounted for the largest share amongst other raw material in the pharmaceutical packaging market
Plastics are extensively used as raw materials for pharmaceutical packaging.Plastic offers freedom of design and cost-effective solution, making it a highly compatible solution for pharmaceutical packaging.

The exceptional shatter resistance provided by plastics enables ease of handling and transportation. In addition, plastics can be attributed to their easy moldability, strength, and effective barrier against gas and vapor.

Plastic bottles accounted for the largest market share amongst other types in the pharmaceutical packaging market
Plastic bottles are suitable for storage of drugs in liquid and solid forms and can be coupled with the required type of cap & closure to suit specific applications such as nasal spray and ophthalmic drops. Growing use of oral drug delivery mode owing to patient compliance and convenience, increasing cases of communicable diseases, and rise in aging population in developed economies are responsible for the high share of the bottles segment.

Oral is expected to be the largest pharmaceutical packaging drug delivery mode in 2021 amongst others.

Oral drug delivery mode is estimated to be the largest category in the overall pharmaceutical packaging market. This large market size can be attributed to the convenience in usage, increased incidence of chronic diseases, improving patient compliance, and reformulation and repositioning of drugs using advanced oral delivery systems, and heavy investments made by big pharmaceutical players for enhancing in-house capabilities to develop oral drug delivery technologies.

APAC is projected to grow the fastest in the pharmaceutical packaging market during the forecast period.
APAC is predicted to be the fastest-growing region amongst others in the pharmaceutical packaging market in 2020, in terms of value.Increasing government initiatives in emerging pharmaceutical market, increase in contract manufacturing activities, rise in aging population, and increased spending on healthcare are driving the market in APAC.

China, Australia, Japan, South Korea, and India are the major markets in this region. In addition, growing technological advancements in healthcare sector in countries such as Singapore, China, Malaysia, Thailand, and others, increasing urbanization, and changing lifestyle are also some of the driving factors for the market growth in pharmaceutical packaging industry.

Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the pharmaceutical packaging market gathered through secondary research.

The breakdown of primary interviews has been given below.
• By Company Type: Tier 1 – 25%, Tier 2 – 50%, and Tier 3 – 25%
• By Designation: C Level Executives – 20%, Director Level – 30%, Others – 50%
• By Region: North America – 20%, APAC – 25%, Europe – 30%, Middle East & Africa – 10%, South America-15%.
The key players in this market are Schott AG (Germany), Amcor (Switzerland), Aptar Group (US), West Pharmaceutical Services, Inc. (US), Berry Global (US), Gerresheimer AG (Germany), Catalent (US), and WestRock (US). The pharmaceutical packaging market report analyzes the key growth strategies, such as new product launches, investments & expansions, agreements, partnerships, and mergers & acquisitions to strengthen their market positions.

Research Coverage
This report covers the pharmaceutical packaging market and forecasts its market size until 2026.The market has been segmented based on raw material, type, drug delivery, and region.

The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market.The report also provides insights into the driving and restraining factors in the pharmaceutical packaging market, along with opportunities and challenges across these industries.

It also includes profiles for top manufacturers in the market.

Reasons to Buy the Report

The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the pharmaceutical packaging market and provides the closest approximations of overall market size for its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product launches, investments & expansions, agreements, partnerships, and mergers & acquisitions.
Read the full report: https://www.reportlinker.com/p04773678/?utm_source=GNW

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