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.
Pharmaceutical packaging is the packages and the packaging processes for pharmaceutical preparations. It involves all of the operations from production through drug distribution channels to the end consumer. Packaging also refers to the process of design, evaluation, and production of packages. In addition, packaging is often involved in dispensing, dosing, and use of the pharmaceutical product.
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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.
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.
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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.
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.
Key Benefits for Stakeholders
• The study provides an in-depth analysis of the Pharmaceutical Packaging Market along with the current trends and future estimations to elucidate the imminent investment pockets.
• It offers Pharmaceutical Packaging Market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
• A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
• The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global Pharmaceutical Packaging Market growth.
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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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