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Global Pharmaceutical Packaging Market is Anticipated to Reach $229.9 billion by 2027, at a CAGR of 14.9%, says MarketsandMarkets™

/EIN News/ -- Chicago, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The global Pharmaceutical Packaging Market size is projected to reach USD 229.9 billion by 2027 from USD 99.9 billion in 2021, at a CAGR of 14.9% during the forecast period, as per the recent study by MarketsandMarkets™.  Better healthcare access, rising healthcare spending, rising demand for blister packing, and growing consumer awareness towards healthier lifestyle are the factors driving the demand for pharmaceutical packaging in emerging nations like China, Brazil, India, Malaysia, Indonesia, and others. The market for pharmaceutical packaging is also driven by advanced drug delivery system for biologics and biopharmaceuticals. 

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Browse In-Depth TOC On "Pharmaceutical Packaging Market”

280 - Market Data Tables

47 - Figures

325 - Pages

List of Key Players in Pharmaceutical Packaging Market:

  1. Schott AG (Germany)
  2. Amcor PLC (Switzerland)
  3. AptarGroup,Inc (US)
  4. West Pharmaceutical Services, Inc. (US)
  5. Berry Global (US)
  6. Gerresheimer AG (Germany)
  7. Catalent,Inc (US)
  8. WestRock (US)

Drivers, Restraints, Opportunities and Challenges in Pharmaceutical Packaging Market:

  1. Driver: Technological advancements to contribute to growth of pharmaceutical packaging
  2. Restrain: Lack of access to proper healthcare
  3. Opportunity: Growing demand for primary pharmaceutical packaging
  4. Challenge: Safeguarding against counterfeit products

Key Findings of the Study:

  1. Based on raw material, plastics is projected to register the highest CAGR during the forecast period.
  2. Based on type, Prefilled syringes is projected to register the highest CAGR during the forecast period.
  3. Based on drug delivery, Injectable delivery is projected to register the highest CAGR during the forecast period.
  4. Based on region, North America is estimated to be the largest market share for pharmaceutical packaging in 2022

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Based on raw material, the pharmaceutical packaging market is segmented into plastics, glass, metal, paper & paperboard, and others. The glass segment is the second fastest growing, during the forecast period. Glass packaging has many advantages in terms of hygiene and is suitable for sterilization. It is easily dehydrogenated, relatively non-reactive (depending on the grade of glass), does not deteriorate with time, can be used on high-speed packaging lines, transparent, has good protection capability, and can be easily labeled

Based on type, the pharmaceutical packaging market is segmented into plastic bottles, blister packs, caps & closures, labels & accessories, temperature-controlled packaging, prefilled syringes, medical specialty bags, vials, ampoules, jars & containers, pre-filled inhalers, pouches & strip packs, medication tubes, and others. The plastic bottles segment accounted for the second fastest growing market amongst others.Plastic bottles have properties such as moldability, rigidity, shatter resistance, and light weight. Plastic bottles are used in various types of packaging such as rigid form for solid dosages, sterile packaging for blood and related components, squeezable bottles, jars, and others. They can be easily molded by techniques such as injection molding, blow molding, injection blow molding, extrusion molding and others.

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Based on drug delivery, the pharmaceutical packaging market is segmented as oral, injectables, topical, ocular/ophthalmic, nasal, pulmonary, transdermal, IV, and others. The oral drugs segment is the second fastest growing market during the forecast period. drug delivery is most used drug delivery mode because it is noninvasive, has higher patient compliance rate, and is convenient to handle. .This oral drug delivery mode also offers affordability, flexibility in dosage design and ease of production

 Asia Pacific is the fastest growing market amongst other regions in the pharmaceutical packaging market during forecast period, in terms of value. The rising demand from the aging population, increasing government initiatives, growing population, changing lifestyle, growing contract manufacturing activities are increasing the demand of pharmaceutical packaging in this region. India and China are investing heavily in their respective healthcare sectors, which is going to benefit the rapidly growing pharmaceutical industry.

Browse Adjacent Markets Packaging Market Research Reports & Consulting

Related Reports:

  1. Anti-counterfeit Packaging Market
  2. Flexible Plastic Packaging Market

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
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