Pharmaceutical Packaging Market Develop at a CAGR of 7.72% From 2024 To 2033
Global Pharmaceutical Packaging Market size was valued at USD 135.2 Billion in 2023 and is expected to reach USD 284.0 Billion by 2032, at a CAGR of 7.72% during the forecast period 2023 – 2032.
Pharmaceutical Packaging Market: Overview
Pharmaceutical Packaging is protection against physical damage to pharmaceutical goods as a product moves through the supply chain. Medication that has been crushed, broken, or spilled during transport is useless to a patient. Pharmaceutical packaging is instrumental in preventing such incidents.
Various factors such as rapidly expanding healthcare and pharmaceutical industries across the globe, increasing production of generic and branded pharmaceuticals, growing geriatric population, and supportive government policies about the healthcare and pharmaceutical sector are driving the market growth during the forecast period.
However, factors such as stringent regulations about the usage of pharmaceutical packaging, less awareness about healthcare and pharma industries in many undeveloped and developing economies, and growing counterfeiting of pharma drugs and pharmaceutical packaging are restraining the market growth.
Growing technological advancements are boosting the pharmaceutical and healthcare industry across the globe, which in turn boosts the demand for pharmaceutical packaging such bottles, vials, and other packaging solution
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Global Pharmaceutical Packaging market is by type, by material, by drug delivery system, by end use and by region. By Type, the global pharmaceutical packaging market is segmented into primary packaging, secondary packaging, and tertiary packaging. Among all of these segments, primary packaging held the highest market share in 2022 and is expected to keep its dominance during the forecast period.
By material, the global pharmaceutical packaging market is segmented into plastics and polymer, paper & paperboard, glass, aluminium foil and others. Among all of these materials, plastics and polymer material held the highest market share in 2022 and is expected to keep its dominance during the forecast period.
By end use, the Pharma Manufacturing segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period.
By region, Pharmaceutical Packaging market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. Among all of these regions, North America held the highest market share of 37.26% in 2022 and is expected to keep its dominance during the forecast period.
Asia Pacific is expected to hold a significant market share during the forecast period. Rapidly expanding healthcare and pharmaceutical industries in China, India, Japan, ASEAN, South Korea and Australia are expected to propel the market growth in this region
CMI has comprehensively analyzed the Global Pharmaceutical Packaging market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Pharmaceutical Packaging industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Pharmaceutical Packaging Market:
- Amcor plc
- AptarGroup Inc.
- Becton
- Berry Global Inc.
- CCL Industries Inc
- Comar LLC
- Dickinson and Company
- Drug Plastics Group
- Gerresheimer AG
- International Paper
- Owens Illinois Inc.
- Schott AG
- SGD Pharma
- Vetter Pharma International
- West Pharmaceutical Services Inc.
- WestRock Company
- Others
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