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/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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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.
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