Pharmaceutical Packaging Market will Account for Around US$ 196.8 billion in Revenues by 2026, Concludes MarketsandMarkets™
The global pharmaceutical packaging market size is projected to reach USD 196.8 billion by 2026 from USD 99.9 billion in 2021, at a CAGR of 14.5% during the forecast period. The increasing demand for pharmaceutical packaging in emerging economies such as China, Brazil, India, Malaysia, Indonesia, and others due to better access to healthcare, rising healthcare expenditures, growing demand for blister packaging, and growing consumer awareness regarding healthier lifestyle. Also, advanced drug delivery systems and innovative packaging solutions for biologics and biopharmaceuticals with higher patient convenience and compliance drive the market for pharmaceutical packaging.
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Pharmaceutical packaging can be defined as products which are used for packaging medicines to prevent contamination, provide protection from harsh environmental conditions such as moisture, snow, and others, and ensure safety throughout its shelf-life. Schott AG (Germany), Amcor (Switzerland), Aptar Group (US), West Pharmaceutical Services, Inc. (US), Berry Global (US), Gerresheimer AG (Germany), Catalent (US), and WestRock (US) are the major players in the market.
Based on raw material, the pharmaceutical packaging market is segmented into plastics, glass, metal, paper & paperboard, and others. The plastics segment is the largest, which is projected to continue till 2026. Plastics can be easily formed, possess high quality, are cost-effective, and provide excellent barrier properties and freedom of design. Plastic molded containers provide excellent resistance to breakage and offer safety to consumers.
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Based on type, the pharmaceutical packaging market is segmented into plastic bottles, blister packs, caps & closures, labels & accessories, temperature controlled packaging, prefilled syringes, medical speciality bags, vials, ampoules, jars & containers, pre-filled inhalers, pouches & strip packs, medication tubes, and others. The plastic bottles segment accounted for the largest market share amongst others. They are used for their attractive properties such as shatter resistance, rigidity, strength, light weighting, and moldability. Plastic bottles can be easily molded by techniques such as injection molding, blow molding, injection blow molding, extrusion molding and others.
Based on drug delivery, the pharmaceutical packaging market is segmented as oral, injectables, topical, ocular/ophthalmic, nasal, pulmonary, transdermal, IV, and others. The oral drug delivery segment dominated the market in 2020. Oral drug delivery is the most preferred administration route for any drug owing to its noninvasiveness, high patient compliance, convenience of handling, and non-requirement of any specific sterile conditions. In addition, this delivery system provides cost-effectiveness, flexibility in designing of dosage form, and ease of production.
North America accounted for the largest share amongst other regions in the pharmaceutical packaging market in 2020, in terms of value. The rising demand from the aging population, new technological advancements, increase in cases of chronic diseases such as diabetes, Alzheimer’s, Parkinson’s, and others, and increased awareness around better and healthy lifestyle are the major driving factors for the market. In addition, launch of innovative drugs, and government initiatives around better healthcare coverage is also propelling market growth for pharmaceutical packaging.
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The key players in the pharmaceutical packaging market include Schott AG (Germany), Amcor (Switzerland), Aptar Group (US), West Pharmaceutical Services, Inc. (US), Berry Global (US), Gerresheimer AG (Germany), Catalent (US), and WestRock (US).
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