PUBLISHER: Orion Market Research | PRODUCT CODE: 1078191
PUBLISHER: Orion Market Research | PRODUCT CODE: 1078191
Global Pharmaceutical Packaging Market Size, Share & Trends Analysis by Product Type (Primary Packaging and Secondary Packaging), by Material Type (Plastic & Polymers, Paper & Paperboard, Glass, and Metals), and by End-User (Pharmaceutical Manufacturing, Contract Packaging, Retail Pharmacy, and Others) Forecast Period (2022-2028)
The global pharmaceutical packaging market is anticipated to grow at a significant CAGR of 9.7% during the forecast period. Growing penetration of retail pharmacies in developing nations, as well as pharmaceutical manufacturers' increased attention to brand development and product differentiation, are expected to drive market growth. Packaging materials are generally used to store solid, liquid, and semisolid formulations such as tablets, capsules, syrups, and topical medicinal formulations in solid, liquid, and semisolid forms. Chronic diseases are becoming more common as a result of changing lifestyles, dietary habits, and sleep patterns, all of which contribute to an increased demand for pharmaceuticals. Furthermore, the focus of various governments on improving healthcare facilities and insurance coverage is driving up demand for pharmaceuticals, which is driving up market growth. The most common drug forms are tablets, liquids, and powders. They employ a variety of packaging options, including rigid bottles, standup pouches, flat pouches, sachets, and blister packs. Pharma packaging goods are highly specialized and subject to stringent regulatory compliances, particularly in terms of package sterility. As a result, during the creation of packaging items, packaging and pharmaceutical product makers collaborate closely.
The global pharmaceutical packaging market is segmented based on product type, material type, and end-user. Based on product type, the market is segmented into primary packaging and secondary packaging. Primary packaging includes bottles, blister packaging, refillable syringes, vials and ampuls, and others. Secondary packaging includes closures, containers, labels, and packaging accessories. Primary pharmaceutical packaging is expected to hold a significant share of the global market. Bottles packaging is one of the major segments of primary packaging. The convenience of using the bottles to store any form of medicine it is whether solid, liquid, or powered is contributing to the segmental growth of the market. Based on material type, the market is segmented into plastic & polymers, paper & paperboard, glass, and metals. Based on end-user, the market is segmented into pharmaceutical manufacturing, contract packaging, retail pharmacy, and others.
The global pharmaceutical packaging market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the North American regional market is expected to cater to considerable growth during the forecast period. Factors contributing to the regional growth of the market include the use of advanced technology such as nanotechnology in manufacturing processes and technological innovation and increasing demand for drug delivery devices. North America is followed by Europe while Asia-Pacific is expected to be the fastest-growing market during the forecast period.
The major companies serving the global pharmaceutical packaging market include Amcor Ltd., Schott AG, AptarGroup, Inc., Gerresheimer AG, and West Pharmaceutical Services, Inc., among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, new launches, and partnerships. For instance, in April 2019, as part of its global growth strategy, SCHOTT invested BRL 50 million in its pharmaceutical tubing production in Rio de Janeiro. SCHOTT is helping to develop 100% inspection of glass tubing to detect probable faults as the need in the pharmaceutical industry grows.
Research Methodology
The market study of the global pharmaceutical packaging market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers
Category-Pharmaceuticals