(PharmaNewsWire.Com, August 25, 2022 ) 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 increasing demand for pharmaceutical packaging in emerging markets owing to better access to healthcare, rising healthcare expenses, and growing consumer awareness regarding healthier lifestyle. Also, advanced drug delivery and innovative packaging solutions with higher patient convenience and compliance drive the market for pharmaceutical packaging.
The increasing demand for pharmaceutical packaging in emerging markets owing to better access to healthcare, rising healthcare expenses, and growing consumer awareness regarding healthier lifestyle. Also, advanced drug delivery and innovative packaging solutions with higher patient convenience and compliance drive the market for pharmaceutical packaging. Increasing occurrence 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 &polymers are widely used as raw materials for pharmaceutical packaging. Plastic provides 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.
Based on type, plastic bottles is expected to be the largest pharmaceutical packaging segment in 2021.
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.
Browse in-depth TOC on "Pharmaceutical Packaging Market”
183 - Market Data Tables
53 - Figures
276 - Pages
The key players in the pharmaceutical packaging market include Schott AG (Germany), Amcor (Switzerland), Aptar Group (US), West Pharmaceutical Services, Inc. (US), Berry Global (US), Gerresheimer AG (Germany), Catalent (US), and WestRock (US). These players have established a strong foothold in the market by adopting strategies, such as new product launches, investment & expansions, agreements, partnerships, and mergers & acquisitions.
Berry Global (US) has gained a strong foothold in the pharmaceutical packaging market. The company has a strong product portfolio for pharmaceutical packaging. The company operates through its multiple production sites and has extensive R&D infrastructure, which helps the company attain economies of scale. It focuses on offering customized solutions, and consistent customer service orientation to cater to consumer demand and achieve growth in the market. In July 2019, Berry (US) acquired RPC Group PLC (UK), a major provider of rigid packaging solutions to a wide range of end-use industries such as food, healthcare, beverage, and others.
Gerresheimer (Germany) is another major player operating in the market. The company has a strong global presence and offers a wide range of innovative pharmaceutical packaging products such as bottles, vials, ampoules, and others. The company is focusing on organic growth strategies of new product launch and investment & expansion for increasing its geographical footprints and strengthen product portfolio and hence, widening its presence in various regions such as APAC and North America and increasing its revenue. In September 2020, Gerresheimer launched two innovation and technology centers in Germany and New Jersey.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including: