March 31, 2020

Pharmaceutical Packaging Market Is Expanding At a CAGR of 8.8% From 2017 To 2025

According to the latest report published by Credence Research, Inc. “Pharmaceutical Packaging Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global pharmaceutical packaging market was valued at US$ 70.87 Bn in 2016, and is expected to reach US$ 130.73 Bn by 2025, expanding at a CAGR of 8.8% from 2017 to 2025.

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Pharmaceutical Packaging Market

Market Insights:

The global market for pharmaceutical packaging involves the analysis of all products used for pharmaceutical packaging. The global market involves packaging carried out by manufacturing companies as well as medicines packaged on a contract basis. Numerous materials are used for the packaging of drugs, including plastics, polymers, paper, glass, aluminum foil. Due to the increasing burden of global disease, the production of pharmaceuticals is on the rise, leading to the growth of global pharmaceutical packaging materials.

Increased research and development on novel and innovative packaging materials, increased government expenditure on health care, growth in the market for generic drugs and demand for environmentally friendly and reusable packaging materials are some of the factors driving the market. Certain driving factors include the development of new pharmaceutical manufacturing plants in developing countries and a rise in contract packaging patterns. Growing cost of raw materials used in pharmaceutical packaging hinders the global market for pharmaceutical packaging.

Based on their types, the global market for pharmaceutical packaging is divided into ampoules, blister packs, canisters, cartridges, IV bags, medical specialty bags, mini jars, plastic bottles, pouches, bags, syringes, tubes, vials and others. In terms of market value, the category of plastic bottles leads the industry, followed by blister packs and pouches. On the basis of material forms, the global market for pharmaceutical packaging is segmented into plastics & polymers, glass, aluminum foil, paper & paperboard, and others. The plastics segment is leading the global market due to the preference of plastics over other segments of the market.

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Depending on the drug delivery process, the global market for pharmaceutical packaging is segmented into oral drug packaging, pulmonary drug packaging, transdermal drug packaging, injection drug packaging, nasal drug packaging and others. Oral product packaging dominates the global market for pharmaceutical packaging and is expected to remain dominant in the forecast period.

Global pharmaceutical packaging is classified in North America, Asia Pacific, Europe, Latin America and the Middle East and Africa on the basis of geographical regions. In terms of market size, North America dominates the global market for pharmaceutical packaging. According to the market analysis, North America is expected to remain dominant in the forecast year. The Asia-Pacific market segment is on the rise due to improved healthcare services in the country. Since the industry is highly fragmented due to the presence of many manufacturing companies, there is no clear market leader.

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Some of the key players include Amcor, Ltd., Aptar Group, Inc., Baxter International, Inc., Becton Dickinson and Company, Bemis Healthcare Packaging, Berry Plastics Corporation, Capsugel, Inc., Gerresheimer AG, Graphic Packaging Group, MeadWestvaco Corporation, Owens-Illinois, RPC Group, Schott Pharmaceuticals Services, Inc., Sealed Air Corporation, Westrock and Catalent Pharma Solutions, Inc.

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