Global Demand For Pharmaceutical Packaging To Grow At 7.5% CAGR By 2029

Pharmaceutical Packaging

Advancements in packaging technology such as smart labelling, enhanced dosing techniques, and renewable materials are propelling the pharmaceutical packaging market to grow 2.2X during the forecast period (2019-2029).

Increasing healthcare spending in developed countries and growing preference for convenient packaging solutions, especially among millennials, will propel growth. Market incumbents are investing in expansion strategies and research & development of sustainable packaging materials that comply with stringent government regulations.

In February 2019, European Union (EU) mandated the serialization of pharmaceutical drugs to improve tracking of pharmaceuticals and curb counterfeiting activities.

To remain ‘ahead’ of your competitors, request for a sample –  https://www.factmr.com/connectus/sample?flag=S&rep_id=4573

Key Takeaways of Pharmaceuticals Packaging Market Study

  • Plastics & Polymers will grow 2X during the forecast on the back of increasing adoption of sub-segments such as polypropylene in sustainable packaging practices.
  • Primary pharmaceutical packaging is going to grow two-folds between 2019 and 2029. Development of new drugs such as Apelisib (Piqray, Selinexor (Xpovio) will further generate demand for primary packaging.
  • Contract packaging will show 2.4X growth through the end of forecast. This is attributable to prevalence of strategic partnership between pharmaceutical companies and packaging manufacturers.
  • North American pharmaceutical packaging market exhibits 1.8X growth during the forecast period. Growing geriatric population, coupled with health conscious millennials opting for preventive care, positions this region as a majority shareholder of the total market value.

“Sustainability is key to growth in pharmaceutical packaging market. Governments are proactively lobbying packaging and product labelling practices and introducing regulations on a frequent basis. Manufacturers stand to gain sustainable growth by curbing environmental pollution from packaging waste. “-Says the Fact.MR Analyst

Global Pharmaceutical Packaging Market: In-Depth Assessment on Key Segments

The global pharmaceutical packaging market is segmented on the basis of material, product type, application and region.

  • By Material :

    • Plastics & Polymers
      • Polypropylene (PP)
      • Polyethylene (PE)
      • Polyethylene Terephthalate (PET)
      • Polyvinyl Chloride (PVC)
      • Polystyrene (PS)
      • Others
    • Paper & Paperboard
    • Glass
    • Aluminum Foil
    • Others
  • By Product Type :

    • Primary Pharmaceutical Packaging
      • Plastic Bottles
      • Caps & Closures
      • Parenteral Containers
      • Blister Packs
      • Prefillable Inhalers
      • Pouches
      • Medication Tubes
      • Others
    • Secondary Pharmaceutical Packaging
      • Prescription Containers
      • Pharmaceutical Packaging Accessories
    • Tertiary Pharmaceutical Packaging
  • By Application :

    • Pharmaceutical Manufacturing
    • Retail Pharmacy
    • Contract Packaging
    • Institutional Pharmacy
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

Prioritizing R&D for Sustainable Materials to be Key Market Imperative

Leading companies from the pharmaceutical packaging market are

  • Amcor Plc
  • Becton Dickinson & Company
  • AptarGroup Inc.
  • Drug Plastics Group
  • Gerresheimer AG
  • Schott AG
  • Owens Illinois Inc.
  • West Pharmaceutical Services Inc.
  • Berry Global Inc.
  • WestRock Company SGD S.A.
  • International Paper Company
  • COMAR LLC
  • CCL Industries Inc.
  • Vetter Pharma International.

Leave a Reply

Your email address will not be published.