Pharmaceutical Packaging Market worth USD 144,233.3 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Pharmaceutical Packaging Market by Product (Parenteral Container, Blister Packing, Specialty Bags, Plastic Bottle, Closures, Labels, and Others), by Material Type (Aluminum Foils, Plastics & Polymers, Glass, Paper & Paperboards, and Others), by Region – Global Share and Forecast to 2027". The global pharmaceutical packaging market size is expected to grow from USD 95,163.6 million in 2020 to USD 144,233.3 million by 2027, at a CAGR of 6.1% during the forecast period. Technological advancements in pharmaceutical packaging solutions offer immense, innovative, and advanced applications to the pharmaceutical & biopharmaceutical industries and improve packaging standards. The increasingly competitive marketplace in the pharmaceutical industry has increased the focus on packaging solutions as an important marketing tool. The increasing focus on improving packaging for the protection of drugs and ease of delivery enhances patient compliance. For instance, recent popular advancements in packaging design include ziplock bags, providing a lightweight and compact way of securing both traditional and cannabis-based medicine. In addition, the next generation of prefilled syringes will offer patients stress-free and safe subcutaneous drug delivery without the need for clinical monitoring.

Global Pharmaceutical Packaging Market Segmentation

The pharmaceutical packaging market has been segmented into product, material type, and region.

• By Product (Parenteral Container, Blister Packing, Specialty Bags, Plastic Bottle, Closures, Labels, and Others)
• By Material Type (Aluminum Foils, Plastics & Polymers, Glass, Paper & Paperboards, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Plastics and polymers, by material type, is estimated to hold the largest market share during the forecast period

Pharmaceutical packaging (drug packaging) is the packaging process for pharmaceutical preparations. Pharmaceutical packaging is made up of materials such as glass, metal, labels, rubber, plastics, and others. Plastics and polymers have the largest market revenue in 2020 and have accounted for the 35.4% of the market share. Plastic is used in both primary and secondary packaging. The advantage of plastics is flexibility, low weight, and cost-effectiveness. The plastics used are polyethylene, polyvinyl chloride, polypropylene, and polystyrene. They are available in two types, which include thermoplastic and thermosetting types. In addition, due to their lightweight and flexibility, they are widely used. The thermosetting type consists of urea, formaldehyde, phenol, etc. These become flexible when heated but do not become liquid. They are usually hard and brittle at room temperature. Furthermore, thermoplastic consists of polyethylene, polypropylene, PVC, polystyrene, and nylon. They can soften to various fluids and become hardened again when cooling.

Additionally, polypropylene material is anticipated to have the highest growth rate during the forecast period. Polypropylene is considered an economical material and is widely employed in the packaging industry due to its physical, mechanical, thermal, and electrical characteristics. Plastic containers are also used for the packaging of creams.

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North America accounts for the largest market share in the pharmaceutical packaging market 2020

Based on the regions, the global pharmaceutical packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, North America was the highest contributor to the market in revenue and accounted for 43.4% of the market share. Further, high purchasing power coupled with a rise in the adoption rate of smart and advanced packages is expected to drive market growth. Further, the U.S. has accounted for the largest market share. It is expected to continue the same during the forecast period as the U.S. is the advanced drug-producing sector that commercializes new sophisticated therapies with specialized packaging needs.

North America dominates the pharmaceutical packaging market due to a well-established healthcare system demanding proper pharmaceutical packaging and stringent rules & regulations related to pharmaceutical packaging. The factors that further propel the market's growth are new drug developments and technological advancements such as nano-medicines and biologics in the region. In addition, an increase in demand for multi-dose and unit-dose packaging in the U.S. is anticipated to drive the pharmaceutical packaging market. Mergers, collaborations, and acquisitions adopted by the key players in this region also boost the market's growth. For instance, in 2018, Hoffmann Neopac AG, a Switzerland-based manufacturer of primary packaging for pharmaceutical and cosmetics industries, established a new manufacturing plant in the U.S.

This research report covers a look at the development and marketing strategies of the main pharmaceutical packaging businesses and their product portfolios and successful methods. Amcor plc, Becton, Drug Plastics Group, Owens Illinois, Inc., Dickinson and Company, AptarGroup, Inc., Berry Global, Inc., WestRock Company, West Pharmaceutical Services, Inc., SGD Pharma, CCL Industries, Inc., Gerresheimer AG, International Paper, Comar, LLC, Schott AG, and Vetter Pharma International are among the companies profiled. To achieve a greater market position in the pharmaceutical packaging business, these market competitors have concentrated on acquisitions and growth.

Browse complete report: https://www.marketstatsville.com/pharmaceutical-packaging-market

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