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By 2028, Global Pharmaceuticals Packaging Market is expected to reach approximately US$ 133 billion, witnessing a moderate CAGR over the forecast period (2020-2028).
The major key growth influencers for the pharmaceuticals packaging market are rapid growth of the pharmaceuticals industry in emerging nations (such as India, Indonesia, China and others) and rising demand for primary pharmaceuticals packaging.
Increasing health awareness along with growing demand for blister packaging and drug delivery devices are anticipated to enhance the market growth over the forecast period. Rising technological advancements in packaging and demand for innovative packaging formats are some other major factors enhancing market growth. Expansion of healthcare companies in untapped regions and rising pharmaceutical packaging standards are expected to further enhance market growth during the forecast period.
The growing investment for sustainable packaging solutions is boosting the growth of pharmaceuticals packaging market. Integration of advanced manufacturing process and rising demand for easily transportable packaging, the pharmaceutical packaging market is anticipated to expand with a substantial CAGR throughout the forecast period.
Plastic & polymers accounted for highest share of XX% in Global Pharmaceuticals Packaging Market in 2019.
Plastic & polymers segment accounts for highest share in the market owing to their cost-effectiveness and less brokerage loss. Different types of plastic including LDPE, PET, HDPE and others are used for packaging.
Plastic & polymers are lightweight, less moisture absorption rate, provide resistance in contradiction of organic solvents & degreasing agents due to which the segment has its dominance in 2019. The aforementioned segment is being used to make dry powder, cartridges, nebulizers, metered-dose inhalers and bottles, which is expected to drive the segment growth over the forecast period. The compatibility of plastic with metals like aluminum to laminate for bendable packaging is anticipated to drive the market during the forecast period.
By Product Type, Primary product type accounted for a major share of XX% in Global Pharmaceutical Packaging Market in 2019.
The primary product type segment has major share due to large scale packaging of over-the-counter drugs and rising pharmaceuticals market. Expansion of label content and high visibility are some of the other factors anticipated to drive the market growth. On the contrary, the secondary product type segment is gaining traction owing to its benefits such as the prevention of product from diffusion, permeation and leakage.
Growth prospects of Pharmaceuticals Packaging are high in Asia Pacific
North America dominated the market in 2019 and contributed to nearly 37% of the market share in the same year. Rising child-resistant packaging market and growing new drug developments along with rapid technological advancements (such as biologics and nanomedicines) are the major factors expected to drive the market in North America over the forecast period. The presence of key drug manufacturers (including Pfizer, Merck, Johnson & Johnson and others) is another key reason anticipated to expand the market growth in the region.
Asia Pacific region is expected to grow with the fastest CAGR due to growing demand for Polyethylene (PE) and Polyethylene Terephthalate (PET) in the region. The aforementioned materials are primary plastics used for pharmaceutical packaging. Growing government regulations for drug safety is anticipated to further fuel the market growth in the region. Increasing demand for medicines in the region is another factor expected to drive the market in Asia Pacific.
Global Pharmaceuticals Packaging Market is very competitive with presence of a large number of global and local/regional manufacturers. International Paper Company, Capsugel, Gerresheimer AG, Schott AG, West Pharmaceutical Service Inc., Amcor Ltd., Bemis Company, Owens Illinois Inc., and COMAR LLC are some key players operating at regional as well as country level. Mergers & acquisitions amongst major players to increase their market presence and market share are anticipated to be the key strategy over the forecast period.
- Plastic bottles
- Blister packs
- Labels & accessories
- Caps & closures
- Pre-fillable syringes
- Medical specialty bags
- Temperature-controlled packaging
- Pouches & strip packs
- Pre-filled inhalers
- Medication tubes
- Jars & canisters
- Others (paperboard boxes, corrugated boxes, and trays)
By Raw Material:
- Plastics & Polymers
- Paper & paperboards
- Others (rubber and steel)
By Drug -delivery Mode:
- Oral Drugs
- Ocular/ Ophthalmic
- IV Drugs
- Others (targeted drug delivery, carrier-based drug delivery, nanoparticle drug delivery, and genetic transfer)
By Product Type:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa