The latest report on “Pharmaceutical Packaging Market (Type – Bottles, Blister Packaging, Pre-fillable Syringes, Vials & Ampules, Labels & Accessories, Caps & Closures, Jars & Canisters, and Other Types; Material – Plastics & Resins, Paper & Paperboard, Glass, Metal Foils, and Other Materials): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global pharmaceutical packaging market is projected to grow at a CAGR of 6.21% over the forecast period of 2019-2025.
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Healthcare products and pharmaceuticals require special packaging to reduce the risk of contamination and infection. Pharmaceutical packaging comes in different forms such as bottles, syringes, vials, jars, and canisters which are made out of plastics, paper, glass, metal, and others. The pharmaceutical packaging market is highly fragmented with the number of global as well as local players competing with each other for their position in the market.
The key players in the market including Amcor plc, 3M Company, Becton, Dickinson and Company, CCL Industries Inc., Constantia Flexibles Group, Gerresheimer AG, West Pharmaceutical Service, Inc., and others are focusing on product innovation and acquisition to maintain competitiveness. Recently in march 2019, West Pharmaceutical opened a new digital technology center in Bengaluru, India to deliver better business operations.
The growing pharmaceutical industry is majorly driving the pharmaceutical packaging market. The growing geriatric population and increasing prevalence of chronic ailments are propelling the pharmaceutical industry, which in turn boost the pharmaceutical packaging market. Moreover, the stringent government regulations for pharmaceutical packaging are expanding the growth of the pharmaceutical packaging market. The packaging for pharmaceuticals is regulated by the FDA to maintain the quality of products. The standards set by the regulatory bodies help the manufacturers to produce the packaging in compliance with norms.
Furthermore, the increasing technological advances in packaging are supporting the demand for the packaging of pharmaceuticals. The innovative products are been developed using advanced technologies, which enhances their physical properties. This helps in boosting the demand for pharmaceutical packaging. However, the fluctuation in the prices of raw materials is the major restraining factor for the growth of the pharmaceutical packaging market. Nevertheless, the integration of nanotechnology in packaging and development of sustainable packaging is expected to offer lucrative opportunities for the key players in the pharmaceutical packaging market.
Region-wise, North America generated the highest revenue for pharmaceutical packaging, dominating the global market. The largest market share of the North American market attributed to the growing export of the US pharmaceuticals, a rise in the adoption of advanced packaging technologies and increasing demand for drug delivery devices and blister packaging. Moreover, the presence of major market players in the region is anticipated to boost the North American pharmaceutical packaging market.
Segment Covered
The report on the global pharmaceutical packaging market covers segments such as type, and material. On the basis of type, the sub-markets include bottles, blister packaging, pre-fillable syringes, vials & ampules, labels & accessories, caps & closures, jars & canisters, and other types. On the basis of material, the sub-markets include plastics & resins, paper & paperboard, glass, metal foils, and other materials.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/consumer-goods-packaging/global-pharmaceutical-packaging-market
Companies Profiled:
The report provides profiles of the companies in the market such as Amcor plc, 3M Company, Becton, Dickinson and Company, CCL Industries Inc., Constantia Flexibles Group, Gerresheimer AG, West Pharmaceutical Service, Inc., Schott AG, AptarGroup, Inc., WestRock Company, and other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the pharmaceutical packaging.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.