Pharmaceutical packaging comprises of various products such as blisters, bottles, bags & pouches, vials & ampoules, sachets and syringes & cartridges. These products are utilized for packaging of pharmaceuticals.
Packaging material are utilized for string, packaging, organizing as well as transportation of pharmaceutical products. The pharmaceutical packaging market comprises of both flexible as well as rigid protection formats of packaging products. The report provide volume of packaging products.
What are the factors influencing growth of the market?
Number of factors are impacting the growth of the global pharmaceutical packaging market. Due to increasing environmental concerns, larges number of companies are investing in sustainable packaging is the key driver for the growth of the global market for pharmaceutical packaging. Key challenges such as recycling of multi-layer flexible packaging is forcing market players to invest more in research and development activities. Number of developing countries are also investing in healthcare infrastructure, which is anticipated to strengthen the future of pharmaceutical packaging market.
Several conventional formats of pharmaceutical packaging are being replaced by new ones. Further, lots of efforts have been included in the improvements of technologies, which result in economical and efficient manufacturing of pharmaceutical packaging. Increasing popularity of unit dose formats are further resulting in advent of new packaging formats. An increased utilization of booklet labels has been observed. Booklet labels help packaging manufacturers to review enormous paperwork compacted spaces, as they have to print large amount of information comprising of drug information in various languages and compliance information needed by various regulating authorities of various economies.
The bottle type segment, based on product type is anticipated to retain its dominance in the global market for pharmaceutical packaging. The segment is projected to reach market valuation of more than US$ 38 Bn by 2027-end. On the other hand, in terms of CAGR, the prefilled cartridges segment is anticipated to expand at fastest pace due to increased adoption. Ampoules and Vials segment are also projected to exhibit well performance with considerable expansion estimated during the forecast period (2017-2027).
The plastic segment, by product type, is slated to remain at the forefront in the market, witnessing huge margin. The plastic segment is anticipated to reach market valuation of more than US$ 70.2 Bn by the end of forecast period. The PE, among different sub-segments of plastic has the highest contribution in the expansion of plastic segment. Additionally, the paper segment is anticipated to expand at higher pace with 7.2% CAGR, in terms of value throughout the forecast period.
What is the performance of pharmaceutical packaging market in different regions?
In terms of market share, the market in the North America region is projected to remain the largest in global pharmaceutical packaging market, followed by Western Europe. However, in terms of CAGR value, the market in the APEJ region is projected to showcase 7.6% CAGR over the forecast period.
What are the leading players operating in the global pharmaceutical packaging market?
The report reveals several prominent players operating in the global pharmaceutical packaging market such as ACG Pharmapack Pvt. Ltd., Amcor Limited, Gerresheimer AG, West Pharmaceutical Service, Inc., Berry Global, Inc.., Becton, Dickinson and Company, Parekhplast India ltd., Catalent, Inc., Klockner Pentaplast Group, Ardagh Group S.A., Uflex Ltd., and Schott AG. The report also reveals information about the key strategies of these leading players to remain at the forefront in the market.
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