According to a new report published by Allied Market Research, titled, “Pharmaceutical Packaging Market by Product ad Material: Opportunity Analysis and Industry Forecast, 2021–2027,” the global pharmaceutical packaging market was valued at $ 88,880 million in 2019, and is projected to reach $ 144,233 million by 2027, registering a CAGR of 6.1% from 2020 to 2027.
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Prominent players operating in the pharmaceutical packaging market include Amcor Ltd, Aptar Group, Inc., Catalent Inc., CCL Industries Inc., Becton, Dickinson and Company, Gerresheimer AG, West Pharmaceutical Services, Inc., Nipro Corporation, Berry Global Group, Inc., SCHOTT Pharmaceutical Packaging.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/1830
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
- Based on product type, the others segment accounted for XX% revenue share of the market in 2019.
- On the basis of region, North America occupied XX% revenue share of the global hormone replacement therapy market in 2019,
- Asia-Pacific market is anticipated to grow with the highest CAGR of XX% throughout the forecast period.
During the coronavirus pandemic, people are becoming more aware about the health safety leading to the more concerns regarding picking up of the packaged health products. Further, many pharmaceutical companies have also got benefited due to the healthcare related concerns. For instance, INEOS plans to build a hand sanitizer plant within ten days so that, it can produce on million bottles per month. SCHOTT also support the world’s fight against COVID-19 with vials capable of holding up to 2 billion vaccination doses. Furthermore, Borosilicate glass is the most widely used material to package vaccines and has been used for more than a century. Approximately 50 billion borosilicate glass containers are made annually worldwide for use with a wide variety of vaccines and treatments. With well-established infrastructure and long-term fill/finish experience, most COVID-19 vaccines will likely use this packaging format. For instance, SCHOTT, which operates a global validated production network with 20 plants and more than 600 production lines for pharma glass and packaging, already has delivered millions of glass vials to SARS-CoV-2 programs, including supplying three out of every four COVID-19 vaccine projects undergoing Phase I, II, and III testing. There, these aforementioned reasons are expected to propel the market growth.
𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/1830
The key factors that drive the growth of the global pharmaceutical packaging market comprise advanced manufacturing processes to develop sustainable and eco-friendly packaging solutions, increase in product innovations and merger & acquisition to support new demands, serialized tracking and tracing of drugs. In addition, emerging generic drug market and rapidly growing drug delivery market and Increase in R&D and use of innovative packaging are further uplifting the growth of hormone replacement therapy market. However, price volatility of raw materials and stringent government regulations and standards are hampering the market growth. On the contrary, advancement in the biotechnology sector results in the introduction of new parenteral therapies and demand for innovative packaging products, growth in use of the smart packaging for patient engagement and identification, and increase in a patient-oriented medicines including biologics are expected to propel the pharmaceutical packaging market growth during the forecast period.
By product type, the plastic bottles segment is accounted to dominate the market share in 2019 as plastic bottles have always been the preferred mode of packaging tablets and capsules. Wide usage of plastic bottle for packaging liquid dosages, like syrups, nasal, and ophthalmic medications. The advantage of a plastic bottle is that pharmaceutical manufacturers can place more tablets in bottles more efficiently and cost-effectively. Further, the parenteral containers segment is expected to propel the market growth as plastic is slowly being eliminated from the parenteral packaging ecosystem. Companies are shifting toward prefilled and ready-to-use containers, which is expected to augment the usability of parenteral products in self-medication.
Region wise, the global pharmaceutical packaging market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North American market had witnessed supremacy in terms of revenue in 2019, owing to high purchasing power coupled with rise in adoption rate of smart and advanced packages. Further, U.S. in North America region has accounted for generating largest share, and will continue to be the largest share. This is attributed as U.S. is the advanced drug-producing sector commercializes new sophisticated therapies with specialized packaging needs. On the other hand, the market in Asia-Pacific is expected to register the highest CAGR in terms of revenue during the forecast period pertaining to growth in the purchasing power of populated countries such as China, Japan, and India. Further, requirements for brand enhancement and differentiation, new packaging material development, increasing awareness of environmental issues, and the adoption of new regulatory requirements on recycling packages are projected to boost growth of the Asia-Pacific pharmaceutical packaging market.
𝗚𝗲𝘁 𝗗𝗲𝘁𝗮𝗶𝗹𝗲𝗱 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/pharmaceutical-packaging-market
𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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