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Global Pharmaceutical Packaging Market

  • 4100.00 Dollar US$
  • Published date: April 15, 2019
    • Pune, Pune, Maharashtra, India [ Ads Views - 4 ]
  • Call : 9607065656

Global Pharmaceutical Packaging Market was valued at US$ 69.81 Bn in 2017, and is estimated to reach US$ 118.451 Bn by 2026 growing at a CAGR of 6.83 % during forecast.

Growing pharmaceutical industry in emerging economies, growing demand for drug delivery drives the pharmaceutical packaging market. Technological advancements further accelerates the market. Increasing overall packaging costs owing to dynamic regulatory measures and stringent regulations set by various governing bodies restrains the market growth. Global demand for primary pharmaceutical packaging and rapidly increasing 3pl and other services in emerging markets poses an opportunity to pharmaceutical packaging market. Nano enabled pharmaceutical packaging poses new opportunities for the growth of pharmaceutical packaging market. Gaining competitiveness in new geographies, safeguarding against counterfeit products and issues in serving the emerging markets are challenges faced by pharmaceutical packaging market.

Demand for prefillable syringes is projected to grow at CAGR of 9.0%. Prefillable syringe packaging held major share owing to advances in biotechnology, nanotechnology, and other advanced drug delivery technologies will increase the range of pharmaceuticals adoption to prefillable syringe packaging. Expanding applications in the administration of critical care, emergency, and self-injectable parenteral medication will identify gains. Blister packaging to foreseen to be a second largest segment in pharmaceutical packaging market.

Plastics & polymers are the foremost material as they are easy to handle and lightweight in nature. Plastics & polymers are majorly used for bags, bottles, cartridges, dry powder, metered dose inhalers, nebulizers and pre fillable syringes. Handling difficulties and high prices of glass manufacturing have caused in manufacturers shift at other alternatives. Paper & paperboard pharmaceutical packaging has upsurge by the introduction of eco-friendly paper products. Rising popularity of degradable paper is expected to play a major role in driving demand for paper material over the forecast period.

North America held the major share of over 40% in the market in 2017. Number of new product launches with specialized packaging needs is growing rapidly. Presence of major pharmaceutical companies such as Pfizer and Novartis is driving market growth in this region. European market is expected to grow at a moderate pace on account of slowdown owing to regulatory pressure concerning packaging of medicines and rising demand for anti-counterfeit packaging. China, India, and Japan is driving the demand for products in Asia Pacific on account of presence of diverse drug industries. The region is benefitting from the presence of a large number of conglomerates manufacturing varied medicines. Growing generics manufacturing coupled with a rise in contract packaging are projected to boost market growth over the forecast period. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding pharmaceutical packaging market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on a competitive analysis of key players by product, price, financial position, Purity portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in pharmaceutical packaging market.

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