A recent report published by Infinium Global Research on
pharmaceutical packaging market provides an in-depth analysis of segments and
sub-segments in the global as well as regional pharmaceutical packaging market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional pharmaceutical packaging market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global pharmaceutical packaging market.
According to the report, the global pharmaceutical packaging market is
projected to grow at a CAGR of 6.21% over the forecast period of 2019-2025.
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.
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.
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.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the pharmaceutical
packaging market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.