Market Research Future - Pharmaceutical Packaging Market Size

Pharmaceutical Packaging Market Size | Overview by Share, Trends, Growth by Forecast 2023

The evolution of the pharmaceutical sector is expected to encourage the Pharmaceutical Packaging Market Size. Reports that deliver insights into the energy and power industry has been presented by Market Research Future, which creates reports on industry verticals that judge the market progress and options for growth. A 6.51 % CAGR is predicted to bolster the market in the coming period.

The stringent regulations relating to packaging imposed by governments has led to the further diversification of the offering in the market for pharmaceutical packaging. Moreover, the development of anti-counterfeiting technologies to prevent the tampering of goods is expected to promote the Pharmaceutical Packaging Market Size. Moreover, the pharmaceutical packaging suppliers are also developing more robust supply chains to ensure an uninterrupted supply of products in the market.

Segmental Analysis

The segment-based judgment of the Pharmaceutical Packaging Market Size is conducted on the basis of material, region, type, and packaging. Based on the material, the Pharmaceutical Packaging Market Size is segmented into paper & paperboard, glass, plastic, and others. Based on the type, the Pharmaceutical Packaging Market Size is segmented into aerosol packs, bottles, tubes, blister packs, caps and closures, parenteral vials & ampoules, sachets, prefilled syringes, and others. Based on the packaging, the Pharmaceutical Packaging Market Size is segmented into flexible packaging, rigid packaging, and semi-rigid packaging. The application basis of segmenting the Pharmaceutical Packaging Market Size comprises of branded drugs, generic drugs, nutraceuticals, medical tools & equipment, test kits, and others. On the basis of regions, the Pharmaceutical Packaging Market Size is segmented into North America, The Middle East, Europe, Asia Pacific, and Africa.

Detailed Regional Analysis

The regional insight into the Pharmaceutical Packaging Market Size includes regions such as North America, The Middle East, Europe, Asia Pacific, and Africa. The North American region is one of the regions where a number of key pharmaceutical packaging companies are situated. The development of the Pharmaceutical Packaging Market Size in the region can be accredited to the incidence of international market players that are increasing their existence in the region through tactical partnerships with raw material dealers. Moreover, the developing demand for lightweight and simply transportable packaging is expanding the demand for pharmaceutical packaging in the regional market.

Competitive Analysis

The governmental bodies around the world are increasing their contribution to market development. The enhancement of production resources is expected to create a favorable impetus for the advance of the market. The contenders in the market are crafting their strategy in a way that supports optimum profits and resource utilization. The improvement in international trade is expected to further develop the development of the market in the coming years. The amplification in the number of investments is predicted to motivate the market considerably in the coming years. The presence of apt investments or funding is expected to motivate the progress of the global market in the forecast period. The stabilization of export trends in the international market is expected to further encourage the market’s development in the coming period. The development of more integrated supply channels is anticipated to provide an upper hand to the market contenders in the forthcoming period.

The key players of global Pharmaceutical Packaging Market Size are SCHOTT AG (Germany), Owens-Illinois Inc. (US), Sonoco Products Company (US), Amcor Limited (Australia), West Pharmaceutical Services, Inc. (US), WestRock Company (US), Berry Global Inc. (US), CCL Industries, Inc. (Canada), AVERY DENNISON CORPORATION (US) International Paper (US), Comar, LLC (US), Gerresheimer AG (Germany).

Industry Updates:

Nov 2019 Schott, a German specialty glass manufacturer, is investing big in India, spurred by the rising demand for pharmaceutical packaging material exploited in ampoules and vials intended for filling injectable sterile solutions and drugs. The newest facility which is expected to be the biggest in Asia will supply to the domestic demand and exports to foreign markets.