Market Segmentation:
Based on material, the Pharmaceutical Packaging Market Size has been segmented into paper & paperboard, plastic, glass, and others. Among these, the plastic segment is expected to lead the expansion of the market in the coming years. Factors such as aesthetic appeal, convenience, etc. are poised to drive the growth of the segment over the next couple of years.
By type, the Pharmaceutical Packaging Market Size has been segmented into bottles, tubes, caps and closures, aerosol packs, blister packs, parenteral vials & ampoules, sachets, prefilled syringes, and others. The bottles segment is projected to benefit from the increasing demand for medicines over the counters. This, in turn, is presumed to support the standing of the segment at the pole position in the market place in the years to come.
By application, the pharmaceutical packaging drug market has been segmented into nutraceuticals, generic drugs, medical tools & equipment, branded drugs, test kits, and others. The generic drugs segment is likely to hold the largest share of the market in the nearby future. The support extended by the governments in certain regions to manufacture generic drugs is likely to expedite the expansion of the segment in the nearby future.
Regional Analysis:
The regional segments of the global Pharmaceutical Packaging Market Size, assessed in this MRFR analysis, are - North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). North America is expected to account for the major share of the market owing to rising investments in packaging innovations. The development of lightweight and durable packaging solutions is expected to drive the growth of the Pharmaceutical Packaging Market Size in the region. Europe is also anticipated to witn4ess substantial growth rate over the next couple of years. This can be attributed to the rising sales of drugs owing to increasing prevalence of diseases. In addition, increasing focus of drug development in the region is also projected to expedite the growth process of the Pharmaceutical Packaging Market Size in the region in the years to come. Asia Pacific is a potential market. The growth of the healthcare sector in the region is anticipated to lead the expansion of the regional market over a couple of years.
Competitive Dashboard:
Amcor Limited (Australia), Owens-Illinois Inc. (US), SCHOTT AG (Germany), Sonoco Products Company (US), WestRock Company (US), West Pharmaceutical Services, Inc. (US), Berry Global Inc. (US), AVERY DENNISON CORPORATION (US), CCL Industries, Inc. (Canada), International Paper (US), Gerresheimer AG (Germany), and Comar, LLC (US) are some of the prime players of the global Pharmaceutical Packaging Market Size.
Industry News:
In October 2019, Romaco and Huhtamaki, a leader in the packaging industry, showed its first recyclable strip packaging which will be used in the packaging of pharmaceutical solids.
Comments