Pharmaceutical Contract Packaging Market is Booming Market

Posted by nileshdbmr on April 1st, 2021

Global pharmaceutical contract packaging market is set to witness a healthy CAGR of 13.47% in the forecast period of 2020- 2026. Pharmaceutical contract packaging relates to outsourcing to third party suppliers of packaging operations. In this the pharma companies seeks services from the other companies for the packaging of their drugs. This helps them to save time and expenses. Some of the common types of these packaging are plastic containers, glass containers, flexible packaging, caps, closures and others. They can used for the packaging of different drugs.

Key Market Competitors:

Few of the major competitors currently working in the global pharmaceutical contract packaging market are Berlin Packaging, CCL Industries, Co-Pak, Signode India, ROPACK INC, Reelvision, PCI Pharma Services, Multi-Pack Solutions LLC, Unicep, Sharp, Reed-Lane, Aphena Pharma Solutions,  Southwest Packaging., Catalent, Inc, AbbVie Inc., Pfizer Inc., Daito Pharmaceutical Co.,Ltd., NIPRO, Cradel Pharmaceuticals Pvt. Ltd., Gerresheimer AG and others.

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Segmentation: Global Pharmaceutical Contract Packaging Market

•          By Product (Flexible Packaging, Plastic Containers, Glass Containers, Caps/Closures)
•          By Drug Type (Autacoids & Related Drugs, Cardiovascular Medicines, Contraceptives, Cancer Therapies, Hormone Replacement, Others)
•          By Drug Form (Oral, Injectable)
•          By Packaging (Plastic bottles, Blister packs, Pouches, Parenteral containers, Pre- Filled Syringes)
•          By Industry (Small Molecule, Biopharmaceutical, Vaccine)
•          By Type (Sterile, Non- Sterile)

Competitive Analysis: Global Pharmaceutical Contract Packaging Market

Global pharmaceutical contract packaging market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of pharmaceutical contract packaging market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Market Drivers:

•          Increasing demand for sustainable packaging will drive the market growth
•          Growing number of new medicines in the market will also accelerate the demand for this market
•          Rising geriatric population will also enhance the market growth
•          Strict protocols associated with the packaging will also drive the market growth

Market Restraints:

•          Restricted information sharing with contract packagers will hinder the market growth
•          Risk associated with the poor quality of the product will also restrain the growth of this market

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