-- The global pharmaceutical packaging market to attain valuation around USD 112 billion by and will grow at CAGR above 7.9 % from period 2019 to 2026.
Due to increasing R&D, fresh developments in packaging products, development in the generic industry and an increasing contracting trend, this industry is anticipated to be experiencing remarkable development in the next years. The market is also anticipated to drive the growth in demand for reusable and environmentally friendly packaging. The company in the pharmaceutical industry has begun adopting environmental-friendly pharmaceutical packages.
In order to enhance packaging norms, technological sophisticated pharmaceutical and biopharmaceutical solutions provide enormous and advanced applications to the pharmaceutical and biotechnology sectors. The consequences of this driver will improve considerably as awareness of multiple illnesses, an increase in auto-medication and an increase in the use of OTC medicines is increased. With progress in technology and eco-friendly packings, the price of pharmaceutical packaging will be reduced. It is expected that the implementation of nano-enabled products will have a beneficial effect on this industry.
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Acumen Research and Consulting in its report titled, “pharmaceutical packaging Market: Global Industry Analysis and Opportunity Assessment, 2019–2026,” offers comprehensive insights and detailed research on the global pharmaceutical packaging market over the forecast period 2019 – 2026. The report covers the key factors that are propelling the growth of the pharmaceutical packaging market, untapped lucrative opportunities for manufacturers, latest trends and latest developments that are shaping the growth of the market and other valuable insights across different market segments. The report evaluates the global pharmaceutical packaging market with respect to market value (US$ Mn) and volume (MT).
The report sheds light on the key drivers and challenges affecting the growth of the pharmaceutical packaging market. The report provides exhaustive market share evaluation of the global pharmaceutical packaging based on leading manufacturers. A section of this report highlights country-wise global pharmaceutical packaging market. It provides a market outlook for 2016–2026 and sets the forecast within the context of the report. The report on pharmaceutical packaging mentions key developments and activities executed by leading service providers operating in the market.
The report started with a succinct overview of the market. This part of the report also encompasses ARC’s analyses of key drivers, restraints, and trends from the supply and demand perspectives. Impact evaluation of primary growth drivers and restraints on the basis of the weighted average model are covered in market report to better equip and arm readers with robust decision-making insights.
Key Insights:
The highest market share of North America in 2018 was over 35%.
Asia Pacific will increase by 12.2% during the forecast period at the highest CAGR.
Demand for plastics and polymers will probably advance over the forecast era at a CAGR of 9.1%.
The increasing worldwide demand for appropriate packaging products is expected to be met by the growing pharmaceutical industry.
The main segment represented the biggest market share of over 70% in 2018. Over the forecast era it is anticipated to maintain its pole position.
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Our research methodology
The report on pharmaceutical packaging market considers average selling price across geographies to calculate the market size. Furthermore, various data points, including market split and regional split by ingredients, application, and source and qualitative inputs from primary respondents are encompassed to arrive at the accurate market projections. The forecast provided in the report evaluates the overall revenue that is anticipated to be generated in the market over 2019–2026. At the time of developing the pharmaceutical packaging market forecast, the analysts begin with sizing up the current market, which forms the foundation for how the market is projected to take shape in the forthcoming years. Given the characteristics of the market, we triangulated the result on the basis of various analysis outcomes based on supply side as well as demand side. However, enumerating the market in various regions and in segments is more of a matter of quantifying expectations and recognizing opportunities rather than vindicating them after the forecast is completed.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted pharmaceutical packaging forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In the concluding part of the report, the global pharmaceutical packaging market landscape is covered to provide report audiences with a dashboard view of the key market players, their presence in the market portfolio and key differentiators. The pharmaceutical packaging industry structure and company market share analysis is detailed in this report. The pharmaceutical packaging market share is projected on the basis of global sales of pharmaceutical packaging. Numerous sources referred while formulating the report include market players’ annual reports, analyst presentations, investor presentations, and company press releases. The result has been triangulated with distributors, retailers, and industry experts across the value chain of market.
Key Players & Strategies
Major market players are Gerresheimer AG; West Pharmaceutical Service Inc.; Amcor Ltd.; Schott AG; BD; and Aptar Group. The market is highly fragmented with several players operating at both local and regional levels. Other prominent players are Owens Illinois Inc.; Bemis Company; Capsugel; Berry Global; COMAR LLC; SGD SA; and International Paper Company.
Market Segmentation
Global Pharmaceutical Packaging Market, By Material
Glass
Plastics & Polymers
Polyethylene (PE)
Polypropylene (PP)
Polystyrene (PS)
Polyvinyl chloride (PVC)
Polyethylene terephthalate (PET)
Others
Aluminum Foil
Paper & Paperboard
Others
Global Pharmaceutical Packaging Market, By Product
Primary Pharmaceutical Packaging
Plastic Bottles
Parenteral Containers
Blister Packs
Prefillable Inhalers
Caps & Closures
Medication Tubes
Pouches
Others
Secondary Pharmaceutical Packaging
Pharmaceutical Packaging Accessories
Prescription Containers
Tertiary Pharmaceutical Packaging
Global Pharmaceutical Packaging Market, By End Use
Pharmaceutical Manufacturing
Institutional Pharmacy
Contract Packaging
Retail Pharmacy
Others
Global Pharmaceutical Packaging Market, By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa (MEA)
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