Category: Construction & Manufacturing
The Global Pharmaceutical Packaging Market was valued at $89.6 billion in 2019 and is anticipated to grow at a CAGR of 8.3% from 2020 to 2027. The factors that have led to the growth of the market include the growing pharmaceutical industry, growing aging population, rising disposable income, increase in life expectancy. The other factors which have led to the growth of the market include growing demand for sustainable packaging in the pharmaceutical industry and an increase in demand for primary packaging.
Growing pharmaceutical industry
The pharmaceutical industry is growing at a rapid pace and is expected to grow rapidly in emerging countries such as India, China, and Japan. The advancement in science and technology and the research-based pharmaceutical industry have led to a new era in the innovation and development of medicines. The innovation in the pharmaceutical industry has led to rapid medial progress aiming at innovative treatments that are easily accessible to the patients. The growing population along with demographic factors such as a growing young population and an increase in life expectancy have led to the growth of the market. According to the World Bank, the pharmaceutical industry was valued at $1.1 trillion worldwide in 2015, with a 36 percent share in the emerging economies.
The pharmaceutical industry is also in demand due to an increase in the ability of the population to pay for pharmaceutical services. For instance, the rising middle-class wealth and easy access to private health insurance and other related products have increased the demand for pharmaceutical packaging.
The U.S. is the largest market for pharmaceutical across the globe. The country holds the largest market share in 2019 due to the presence of major pharmaceutical manufacturers.
Key Insight in the report:
The Global Pharmaceutical Packaging market report covers Executive Summary, Market Dynamics, Trend Analysis, Market Size and Forecast, Competitive Intelligence, Market Positioning, Packaging Type, Benchmarking, and Opportunity Analysis.
The report covers extensive competitive intelligence which includes following data points:
- Business Overview
- Business Model
- Financial Data
- Financial – Existing
- Financial – Funding
- Packaging Type Segment Analysis and specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
Global Pharmaceutical Packaging: Segmental Analysis
The report covers market sizing and forecasting at the country level as well as at the segment level. Pharmaceutical Packaging Market is analyzed across below-mentioned different segments:
|Packaging Type||Material Type||Product Type||End-Use|
|Plastic bottles||Plastics & Polymers||Primary Packaging||Retail Pharmacy|
|Blister packs||Paper & Paperboard||Secondary Packaging||Pharmaceuticals|
|Caps & Closures||Glass||Tertiary Packaging||Contract Packaging|
|Labels & accessories|
Based on Packaging Type, the market is segmented based on Plastic bottles, Blister packs, Caps & Closures, Temperature-Controlled Packaging, Pouches, Pre-filled inhalers, Pre-fillable Syringes, Ampoules, Medication tubes, Labels & accessories, Parenteral Packaging, and Others. The parenteral packaging segment is expected to account for the largest market share in 2019 due to the growing pharmaceutical industry. The parenteral packaging constitutes property such as easy handling, reduction in the wastage because of the breakage of syringes.
Based on material type, plastic and polymers segment is expected to dominate the market during the forecast period due to cost-effectiveness. Various plastic and polymers such as HDPE, LDPE, PET, and others are widely used in pharmaceutical packaging. Such type of plastic and polymers are used in the development of products such as vials, bottles, syringes, and among others in any shape and size. Due to the widespread use of plastic and polymer in pharmaceutical packaging, the market is expected to grow in the near future.
Based on product type, the primary packaging segment accounts for the largest market share in 2019 due to its ability to protect the product from contamination and higher quality assurance of the product. It also enables multiple products to be protected with only one cushioning technique.
Global Pharmaceutical Packaging: Geographical Analysis
Pharmaceutical Packaging Market is also analyzed across below-mentioned regions/countries
The Pharmaceutical Packaging is also analyzed based on region-wise split into North America, Europe, Asia Pacific, and Rest of the World. North America region accounted for the largest market share of 39.48% in 2019. In North America, the U.S. dominated the market due to the presence of major pharmaceutical manufacturers. The factors that have driven the U.S. pharmaceutical packaging includes high per capita spending, high investment in research and development, and among others. Asia Pacific region is expected to account for the highest CAGR 13.58% due to the booming pharmaceutical industry. The factors such as steady economic growth and growing population coupled with an increasingly aging population have led to the growth of the market in the future. In the Asia Pacific, China is expected to account for the largest market share and anticipated to grow with the highest CAGR during the forecast period.
The some of the key players in of Pharmaceutical Packaging Market include:
- Amcor plc
- Gerresheimer AG
- Berry Global, Inc.
- Schott AG
- AptarGroup, Inc.
- West Pharmaceutical Services, Inc.
- WestRock Company
- Nipro Corporation
- International Paper Company
REPORT CONTENT BRIEF:
- High level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Historic market size for year 2019 and forecast from 2020 to 2027
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.