Market Overview
The global pharmaceutical packaging market is expected to exhibit a strong 6.51% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global pharmaceutical packaging market is mainly driven by the growing pharmaceutical industry around the world. The major drivers and restraints acting on the global pharmaceutical packaging market are profiled in detail in the report. The competitive landscape of the global pharmaceutical packaging market is also examined in detail in the report. Major players operating in the pharmaceutical packaging market are profiled in the report. The impact of the COVID-19 pandemic on the global pharmaceutical packaging market is also examined in the report.
Pharmaceutical packaging comprises various types of packaging used to store and transport pharmaceutical products. Pharmaceutical products need to be resistant to environmental corrosive agents such as moisture and sunlight. Pharmaceutical products may often have a sensitivity to sunlight. Due to this, pharmaceutical packaging products need to protect the products from intense sunlight. Keeping out dust is also a major concern in pharmaceutical packaging, as dust can compromise the chemical formulation of the pharmaceutical product. The growing need for effective protection for pharmaceutical products during transportation and storage is likely to be a major driver for the global pharmaceutical packaging market over the forecast period. Many companies in the global pharmaceutical packaging market are investing significant amounts in product innovation in order to come up with more secure forms of pharmaceutical packaging. The growing demand for effective, secure pharmaceutical packaging products is likely to be a major driver for the pharmaceutical packaging market over the forecast period.
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The growing pharmaceutical industry is also likely to be a major driver for the global pharmaceutical packaging market over the forecast period. The pharmaceutical industry has been driven by the growing prevalence of contagious and chronic diseases around the world. The rise of superbacteria that are resistant to conventional medication has driven the demand for stronger pharmaceutical formulations that can deal with the problem. This has been a key driver for the pharmaceutical industry in recent years. Growing air pollution around the world has also led to an increasing prevalence of respiratory disorders in recent years. This has also been a key driver for the pharmaceutical packaging market over the last few years. Increasing prevalence of lifestyle diseases such as diabetes and obesity has been a major driver for the global pharmaceutical industry. The growing pharmaceutical industry is thus likely to be a major driver for the global pharmaceutical packaging market over the forecast period.
Competitive Leaderboard:
Leading players in the global pharmaceutical packaging market include Gerresheimer AG, Comar LLC, International Paper, Avery Dennison Corporation, CCL Industries Inc., Berry Global Inc., WestRock Company, West Pharmaceutical Services Inc., Sonoco Products Company, Owens-Illinois Inc., Schott AG, and Amcor Limited.
Segmentation:
The global pharmaceutical packaging market is segmented on the basis of material, type, packaging, application, and region.
By material, the global pharmaceutical packaging market is segmented into plastic, paper and paperboard, glass, and others. Plastic is likely to remain the major material type in the pharmaceutical packaging market over the forecast period due to its inertness to chemicals.
By type, the global pharmaceutical packaging market is segmented into bottles, aerosol packs, tubes, blister packs, sachets, parenteral vials and ampoules, prefilled syringes, caps and closures, and others.
By packaging, the global pharmaceutical packaging market is segmented into rigid packaging, flexible packaging, and semi-rigid packaging.
By application, the global pharmaceutical packaging market is segmented into generic drugs, branded drugs, medical tools and equipment, test kits, nutraceuticals, and others.
Regional Analysis:
North America and Asia Pacific are the major regional markets for pharmaceutical packaging, the former due to the high level of innovation ongoing in the pharmaceutical packaging market in the region, and the latter due to the growing volume of the pharmaceutical industry in the region. Europe is the third largest regional market.
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