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Pharmaceutical Packaging Market to Grow at a CAGR of 8.6% by 2027

The market for pharmaceutical packaging is expected to grow at a CAGR of around 8.6% during the forecast period 2020 to 2027. This research report evaluates the pharmaceutical packaging market on a global and regional level. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global pharmaceutical packaging market for the period from 2016 to 2027.

The report provides the overall revenue of the global pharmaceutical packaging market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year. The study includes drivers and restraints of the global pharmaceutical packaging market. The main goal of this research study is to offer a clear picture and a better understanding of the market to the manufacturers, traders, and suppliers operational in it. The readers can gain a deep insight into this market from this piece of information that can enable them to convey and develop critical approaches for the further growth of their businesses.

Market Estimations:

Market Was Valued In 2019: US$ 98.83 Billion

Market Is Projected To Grow By 2027: US$ 191.21 Billion

Compound Annual Growth Rate (CAGR): 8.6 percent

Pharmaceutical packaging is commonly defined as the packaging materials used for packaging of pharmaceutical products. These materials are manufactured using drug-compatible materials that provide identification, protection, as well as ensure the reliability of the enclosed drug. Primary and secondary solutions of packaging are largely used to protect the enclosed product from biological, chemical, mechanical, and climatic hazards.

Blisters, bottles, caps & closures, labels & accessories, pouches & strip packs, pre-filled syringes, vials, pre-filled inhalers, jars & canisters, ampoules medication tubes, and cartridges are  part of the primary packaging product segment. However, secondary packaging solutions include paperboard boxes and temperature-controlled packaging. Pharmaceutical packaging products are manufactured using a variety of raw materials that include paper & paperboards, plastics & polymers, aluminum foil, glass, and others. Primary packaging products are made using materials for example glass, plastics & polymers, and aluminum foil.

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Report Highlights

Growth Factors

Growing pharmaceutical industry especially in the developing countries because of high spending on healthcare infrastructure growth along with rising health awareness in the countries expected to prominently drive the market growth. Further, increasing demand for patient-oriented drugs and medicines is the other most important factor that triggers the demand for pharmaceutical packaging solution.

Demographic trends that include rising population along with rapid aging of population expected to fuel the requirement for pharmaceutical products, thereby propels the growth for pharmaceutical packaging solution over the analysis period. In addition, increasing demand for generic drugs because of their affordability along with development of new drugs further projected to drive the market growth for pharmaceutical packaging during the forthcoming years.

Various packing solutions used for pharmaceuticals effectively prevent the contamination as well as they offer drug safety along with the convenience in transportation and handling. Hence, pharmaceutical packaging is required for balancing several complex factors. Apart from this, high cost of these packaging solutions due to anti-counterfeiting efforts and stringent regulations is likely to hamper the market growth. Thus, rising packaging costs is one of the major challenges faced by the manufacturers of pharmaceutical packaging solutions.

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Key Players & Strategies

The global leaders in the pharmaceutical packaging industry are present on both regional and local level that turns the market into fragmented. Further, these market players are focusing prominently on the product development and enhancement. In the wake of same, they invest significantly on the R&D sector. This strategy of the leading industry participants also helps them to maintain their position as well as to grab maximum hold on the global market.

Some of the prominent players in the pharmaceutical packaging market include:

Regional Snapshots

North America is commonly known for the technological advancements along with product innovations that motivate drug manufacturers to offer advanced packaging solutions within the pharmaceutical industry. Major factors contributing towards the growth of the region include advancement in nanotechnology used for manufacturing processes coupled with the technological innovation, rising demand for blister packaging and drug delivery devices, to the pharmaceutical packaging market.

The United States anticipated being the largest pharmaceutical packaging market in North America because of its advanced drug production facility that commercializes new and sophisticated therapies that require specialized packaging solutions. However, the Asia Pacific expected to grow at a prominent rate over the analysis period owing to rising health awareness and disposable income in the region.

Segments Covered in the Report

This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of product, material, application, and region:

By Product

By Material

By Application

By Regional Outlook

COVID-19 Impact:

The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The pharmaceutical packaging report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.

Why should you invest in this report?

If you are aiming to enter the global pharmaceutical packaging market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for pharmaceutical packaging are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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