Pharmaceutical Packaging Market Size Expanding at CAGR of 7% Over 2019-2025: IndustryARC
The global pharmaceutical packaging market size was $97 billion in 2018. Additionally, the analyst of the business intelligence report projects the market value to increment with a healthy CAGR of 7% during the forecast period 2019-2025.
Hyderabad, India – July 19, 2019 /MarketersMedia/ —
Global Pharmaceutical Packaging Market: Demand Analysis and Growth Forecast
Via a newly published market research report, IndustryARC notifies that the global pharmaceutical packaging market size was $97 billion in 2018. Additionally, the analyst of the business intelligence report projects the market value to increment with a healthy CAGR of 7% during the forecast period 2019-2025. Pharmaceutical packaging mainly deals with different techniques for manufacturing and preserving medicines to maintain the power of medicine until they are consumed by the patient to be more resistant to or overcome diseases.
The pharmaceutical packaging market is advancing by the embrace of creative procedures like Blow-Fill-Seal innovation, and the expanding requirement for anti-counterfeiting techniques are radically fuelling the market for drug packaging. Benzoic acid, astaxanthin, and sodium nitrite are some of the additives used in medicine packaging to increase the potential effectiveness of medicine over time. Besides, plastic, rubber, glass and aluminum foil are the other pharmaceutical packaging products, which are extensively used for drug delivery. This information is taken from the IndustryARC report titled “Pharmaceutical Packaging Market: By Type (Blister, Strip, Ampules, Vials, Bottles, Collapsible Tubes); By Material (Plastic, Paperboard, Glass, Aluminium) & Geography – Forecast (2019 – 2025)”. This report covers pharmaceutical packaging market Size by Product Type and material, pharmaceutical packaging market by top 5 companies and also the market share by start-ups during the forecast period.
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Pharmaceutical Packaging Market: Leading Segments
North America held a dominating share in the pharmaceutical packaging market, accounting for around 40% to 42% of the global demand in 2018. This dominance is primarily due to the proliferating demand for drug delivery devices & blister packaging as well as the contribution of nanotechnology in the pharmaceutical packaging market. The U.S is one of its major contributors to the North America pharmaceutical packaging market, owing to the huge presence of major manufacturers such as Pfizer and Schott. The region is creating huge opportunities for efficient production of medicines coupled with the influx of investments pharmaceutical packaging in the country.
Pharmaceutical manufacturing is the major end-user, which was holding a maximum share in the pharmaceutical packaging market in 2018 and is estimated to grow with a notable CAGR of around 5.5% – 6.5% during the forecast period 2019-2025. Rising demand for reliable and efficient manufacturing processes for drugs, to maintain its quality and effectiveness at top-notch in pharmaceutical industries, is proliferating the growth of the pharmaceuticals packaging market.
Pharmaceutical Packaging Market Trends
Widespread adoption of nanotechnology in pharmaceutical packaging industry due to its plastic barrier properties. Additionally, it provides greater functionality as well as sensing and signaling of relevant information of the medicine.
Blister packaging is the latest technology, which is gaining adoption in drug packaging in the healthcare industry. It is witnessing an increased adoption owing to the enhanced production efficiency with a high degree of automation in packaging line to minimize the time consumption of production. These factors all together are rather reducing the dependency of primary packaging materials and driving the growth of the pharmaceuticals packaging market.
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Pharmaceutical Packaging Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global pharmaceutical packaging market are: Amcor Ltd., Gerresheimer, Schott AG, Westrock Company, Comar LLC, Capsugel, Owens-Illinois, Berry Plastics Group, Becton Dickinson & Company, Aptar Group
A. Blister Packaging Market analysis:
B. Smart Packaging Market Analysis:
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