The pharmaceutical container market is anticipated to grow at a CAGR of 4.26% from US$44.751 billion in 2022 to US$59.927 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, February 8, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the pharmaceutical container market is projected to grow at a CAGR of 4.26% between 2022 and 2029 to reach US$59.927 billion by 2029.

One of the key growth drivers to propel the pharmaceutical container market is the growing demand for healthcare worldwide. The factors that affected the growth of demand for healthcare worldwide are many, which include the COVID-19 pandemic, the ageing population, and the prevalence of chronic illnesses such as diabetes, hypertension, and kidney ailments. The need for pharmaceutical containers for packaging and transporting medical items, which include pharmaceuticals, vaccines, and healthcare supplies, provides the necessary boost for the growth of the pharmaceutical container market. The Centers for Disease Control and Prevention stated that the increasing prevalence of chronic diseases accounts for US$4.1 trillion in annual health costs in the United States. Therefore, the increase in demand for healthcare due to the rise of chronic diseases gives rise to the need for pharmaceutical containers for the packaging and transport of drugs to medical institutions, further boosting the pharmaceutical container market during the forecast period.

There are many product launches and developments that are taking place in the pharmaceutical container market during the forecasted period. For instance, in January 2023, Amcor announced the expansion of their healthcare platform in the Asia Pacific with the acquisition of MDK, a Shanghai-based company that generated $50 million in annual revenue and was one of the leading medical device packaging providers. This acquisition had taken place to sharpen Amcor’s focus on higher growth priority segments, which will further enhance its strong healthcare platform in the Asia Pacific region.

Access sample report or view details: https://www.knowledge-sourcing.com/report/pharmaceutical-container-market

The pharmaceutical container market, based on product type, is categorized into four types- bottles, dispensing, jars, and others. The different forms in which pharmaceutical containers are produced are based on the type of medicine or drug that is needed to be contained, which can include liquid, tablets, and many others.

The pharmaceutical container market, based on material type, is categorized into five types- plastic, PE, LDPE, HDPE, and others. The material type used for the packaging of medicine or drugs will be based on the drug that needs to be packaged, due to factors such as the compatibility of the drug and the packaging material and many other factors.

The pharmaceutical container market, based on end-users, is categorized into four types- hospital, pharmaceutical, clinics, and others. Medical institutions are the common ground for pharmaceutical containers, due to the increasing dependency of drugs and medicine that is needed to be administered to the patients.

The North American region is expected to witness significant growth in the pharmaceutical container market during the forecasted period. The factor that affects the market is the presence of several pharmaceutical producers in the United States. It is also due to the increase in technological developments, production methods, corporate integrations, and inventions that propel the growth of pharmaceutical containers in the market. Another major factor that leads to the growth of the market in this region is the growing geriatric population, further increasing demand for a variety of treatments and therapies, increasing the impact on the growth of the market. The 2021 American Community Survey conducted by the Census Bureau of the United States reports that people aged 65 and above account for 55,892,014 people out of the total U.S. population of 331,893,745 people, which is an estimate of 16.8%. This large geriatric population displays the prevalence of chronic diseases, which further increases the need for pharmaceutical containers for medicine transportation to medical establishments.

The research includes several key players from the pharmaceutical container market, such as Amcor Plc, AptarGroup, Inc., Origin Pharma Packaging, West Pharmaceutical Services, Inc., Gerresheimer AG, Schott Pharma, WestRock Company, Comar, Berry Global Inc., and CCL Container.

The market analytics report segments the pharmaceutical container market using the following criteria:

• By Product Type:

o Bottles
o Dispensing
o Jars
o Others

• By Material Type:

o Plastic
o PE
o LDPE
o HDPE
o Others

• By End-User:

o Hospital
o Pharmaceutical
o Clinics
o Others

• By Geography:

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Mentioned:

• Amcor Plc
• AptarGroup, Inc.
• Origin Pharma Packaging
• Gerresheimer AG
• Schott Pharma
• West Pharmaceutical Services, Inc.
• Berry Global Inc.
• WestRock Company
• Comar
• CCL Container

Explore More Reports:

• Medical Flexible Packaging Market: https://www.knowledge-sourcing.com/report/medical-flexible-packaging-market

• Medical Specialty Bag Market: https://www.knowledge-sourcing.com/report/medical-specialty-bag-market

• Medical Devices Packaging Market: https://www.knowledge-sourcing.com/report/medical-devices-packaging-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
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