Jersey City, NJ, April 20, 2023 (GLOBE NEWSWIRE) -- The Global Pharmaceutical Packaging Market is estimated to reach over USD 260.98 billion by 2031, exhibiting a CAGR of 9.9% during the forecast period.
Businesses are working on using thread-recycled (PCR) materials and producing biodegradable packaging to boost packaging sustainability. The company sells bottles made of R-PET and BIO-PET (resins made from sugarcane plants). This recycled and renewable trend is predicted to get up steam in the coming years. Developments in medicine and biotechnology propel the pharmaceutical sector.
Furthermore, being one of Europe's top-performing, high-technology sectors, the pharmaceutical business is an asset to the European economy. The pharmaceutical sector is undergoing a considerable transformation, with an increased emphasis on developing biological medications in recent years. Few biomaterials medicinal solutions are unstable in liquid form and, as a result, are only available in powder form or dry powder dosage forms. Lyophilized pharmaceuticals require specialized packaging to maximize, creating new opportunities for packaging producers.
Free PDF Report Brochure @ https://www.insightaceanalytic.com/request-sample/1747
Specialty packaging, like unique bottle and plastic container shapes and designs, can help items stand out from the competition and draw in consumers. To enhance the use and aesthetics of their products, glass packaging businesses are also experimenting with cutting-edge technologies like lightweight and decorating methods. Some glass packaging firms are investing in technologies to lower energy and carbon dioxide emissions consumption and implementing policies to enhance the percentage of their recycled products.
Recent Developments:
- In February 2023 -Schott launched its first plant in the United States to increase its diagnostics and life sciences product and manufacturing capabilities. A multimillion-dollar investment will be made in constructing a new Phoenix, Arizona, facility dedicated to producing custom DNA.
- In May 2022-CCL Industries Inc. intends to expand its Innova business unit near Leipzig, Germany. A new 8 m wide multi-layer co-extrusion line will make highly engineered thin gauge label films to fulfill the rising, sustainability-driven demand for materials with lower resin contents.
List of Prominent Players in the Pharmaceutical Packaging Market:
- Alpla Werke Alwin Lehner Gmbh & Co Kg
- Amcor Plc
- AptarGroup, Inc.
- Aptargroup, Inc.
- Ardagh Group S.A.
- Becton, Dickinson, and Company
- Berry Global Inc.
- Bilcare Limited
- Catalent, Inc.
- CCL Industries, Inc.
- Comar
- Drug Plastics Group
- Frank Noe Egypt Ltd.
- Gaplast Gmbh
- Gerresheimer Ag
- Hergesheimer A
- International Paper
- Lonza Group Ltd.
- Mondi Group
- Nipro Corporation
- Nolato Ab
- Origin Pharma Packaging
- Owens Illinois, Inc.
- Schott AG
- Sealed Air
- SGD Pharma
- Silgan Holdings Inc.
- Vetter Pharma International Gmbh
- West Pharmaceutical Services, Inc.
- WestRock Company
Get Customized Report @ https://www.insightaceanalytic.com/customisation/1747
Pharmaceutical Packaging Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 113.04 Bn |
| Revenue forecast in 2031 | USD 260.98 Bn |
| Growth rate CAGR | CAGR of 9.9 % from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Billion, Volume (KT) and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Material, Product And End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers:
One of the key growth causes for the pharmaceutical packaging market is the massive growth of the pharmaceutical sector. Because of scientific and technological breakthroughs, the pharmaceutical industry has grown rapidly in recent years. The primary drivers driving the US market are the country's massive healthcare system, High per capita income and large investments in drug development. Furthermore, the increasing relevance of generic pharmaceuticals and improved availability of medical facilities are expected to generate profitable prospects for pharmaceutical packaging in the next years.
Challenges:
The COVID-19 pandemic had a wide-ranging effect on the healthcare industry. A lack of people, infrastructure, preparations, supply chain interruptions, and a scarcity of vital pharmaceuticals harmed the pharmaceuticals business. Furthermore, the pandemic had a huge impact on China, a major importer of pharmaceutical raw materials. Due to COVID-19, the need for localization in pharmaceutical packaging was underlined. The primary problem is a need for more product awareness and commercialization in emerging nations, which is expected to slow the growth of the Pharmaceutical Packaging industry. However, the high cost of Pharmaceutical Packaging and its scarcity are projected to hamper the market's overall growth.
Regional Trends:
The North American pharmaceutical packaging market is expected to register a major market share in revenue and is projected to grow at a high CAGR soon. The primary factors leading to North America's substantial market share are what it means for pharmaceutical manufacturers in the United States, expansion of production facilities, and contracts between drug companies and CMOs to boost pharmaceutical access. Rising government funding for COVID-19-related medicines also stimulates pharmaceutical packaging demand in North America.
Besides Asia Pacific substantial market share, the Chinese pharmaceutical sector's rapid expansion presents numerous marketing opportunities for the country's pharmaceutical packaging enterprises. It is increasingly vital for businesses to seek out packaging solutions that address changing requirements in the pharmaceutical packaging sector. Increasing health awareness among clients in Asia Pacific, particularly in developing nations such as China and India, combined with rising amounts of disposable income, is expected to enhance pharmaceutical industry growth throughout the forecast period, enhancing demand for its packaging.
Enquiry Before Buying @ https://www.insightaceanalytic.com/enquiry-before-buying/1747
Segmentation of Pharmaceutical Packaging Market-
By Material
- Plastics & Polymers
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Homo
- Random
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- HDPE
- LDPE
- LLDPE
- Polystyrene (PS)
- Others
- Paper & Paperboard
- Glass
- Aluminium Foil
- Others
By Product
- Primary
- Plastic Bottles
- Caps & Closures
- Parenteral Containers
- Syringes
- Vials & Ampoules
- Others
- Blister Packs
- Prefillable Inhalers
- Pouches
- Medication Tubes
- Others
- Secondary
- Prescription Containers
- Pharmaceutical Packaging Accessories
- Tertiary
By End-use
- Pharma Manufacturing
- Contract Packaging
- Retail Pharmacy
- Institutional Pharmacy
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
About Us:
InsighAce Analytic is a specializing in market research and consulting services that helps in building business strategies. Our mission is to provide high quality insights with using data analytics techniques and visualization tools that drives the disruption and innovation in market research industry. Our expertise is in providing syndicated and custom market intelligence reports with in-depth analysis and key market insights in a timely and cost-effective manner.
Follow Us @ https://www.linkedin.com/company/insightace-analytic-pvt-ltd/
Subscribe Our Exclusive Newsletters @ https://www.linkedin.com/newsletters/latest-market-research-reports-6929319878155739136/
