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The global pharmaceutical packaging market size is projected to reach USD 229.9 billion by 2027 from USD 99.9 billion in 2021, at a CAGR of 14.9%
during the forecast period. Primary packaging has the largest market share in 2021. The ever-increasing demand for pharmaceutical packaging in emerging markets owing to rising healthcare expenses, and growing consumer awareness regarding healthier lifestyles.
New York, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pharmaceutical Packaging Market by Raw Material, Type, Drug Delivery And Region - Global Forecast to 2027" - https://www.reportlinker.com/p04773678/?utm_source=GNW
Additionally, the demand for pharma packaging in emerging countries such as Asia Pacific, South America and Middle East & Africa, is increasing due to large investments by governments to provide better access to healthcare and rising occurrences of chronic diseases such as cancer, infectious diseases, and others are also expected to drive the market for pharmaceutical packaging during the forecast period.
Paper & Paper board accounted for the second largest share amongst other raw materials in the pharmaceutical packaging market
Paper & paperboard have significant demand for use as medicine labels and secondary containers.These packagings engages customers and provide vital information of the product being packed inside through use of high-end graphics as well as enables full structural support.
Paper board sheets are cut, folded, and bonded into the appropriate shape. Corners may be strengthened depending on the need, the material can be produced as set-up paperboard boxes, folding cartons, or trays. It offers comfort, sturdiness, and effective product protection
Blister accounted for the second largest market share amongst other types in the pharmaceutical packaging market
Blister packs are made from thermoformed plastics and generally have paperboard or aluminum backing/lidding.The aluminum lids are coated with adhesives and are applied over the blister packs by heating thereby forming a sealed package.
Blister packs protect the medicine form external factors such as moisture, contamination, UV rays and others. Blister packs also provide efficient and safe drug delivery for oral solid doses or capsules.
Injectable is expected to be the second largest pharmaceutical packaging drug delivery mode in 2021 amongst others.
Injectable drug delivery systems are considered as one of the most effective and successful routes of drug administration owing to its speed and efficacy to reach the target area.The majority of drugs are delivered orally or by injections.
Injectables are available as self-injection devices, prefilled syringes, auto-injectors, safety syringes, patch injectors, pen injectors, and others.Advancements in technology have resulted in development of wide range of improved and enhanced devices.
In addition, development of the biologics market is expected to boost the market for injectables during the forecast period.
South America is projected to grow the second fastest in the pharmaceutical packaging market during the forecast period.
South America is predicted to be the second fastest growing region amongst others in the pharmaceutical packaging market in 2021, in terms of value.Brazil and Argentina are the key markets in the region and are undergoing high growth rates.
With the rising disposable incomes, increasing demand for pharmaceuticals, aging population, and improved government policies, the pharmaceutical packaging market is poised to grow further in the next five years. The growth in the production of generic drugs, cheaper production costs, and quality assurance are driving the market for plastic bottles and oral delivery systems in this region.
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%, Asia Pacific – 25%, Europe – 30%, Middle East & Africa – 10%, South America-15%.
The key players in this market are Schott AG (Germany), Amcor PLC (Switzerland), AptarGroup,Inc (US), West Pharmaceutical Services, Inc. (US), Berry Global (US), Gerresheimer AG (Germany), Catalent,Inc (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 provides detailed segmentation of the pharmaceutical packaging market and forecasts its market size until 2027.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
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market ranking of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the pharmaceutical packaging market; high growth regions; and market drivers, restraints, opportunities, and challenges.
Read the full report: https://www.reportlinker.com/p04773678/?utm_source=GNW
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