Pharmaceutical Packaging Market Global Share, Trend, Segmentation And Forecast
Posted by Neha Bora on October 3rd, 2019
San Francisco, 3 October 2019: The Report Pharmaceutical Packaging Market Size, Share & Trends Analysis Report By Material (Plastics & Polymers, Paper & Paperboard), By Product (Primary, Secondary), By End Use, And Segment Forecasts, 2019 – 2025
The global pharmaceutical packaging market size is expected to reach USD 158.24 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 8.3% during the forecast period. The market is driven by increasing consumption of pharmaceutical packaging materials in emerging economies, most notably in China, Brazil, and India. This is in reaction to increasing government spending on healthcare infrastructure in these countries.
The market has been witnessing significant demand for pharmaceutical packaging in African countries. Though the industry is yet to achieve its full potential in Africa, the region promises considerable growth over the forecast period owing to economic developments in countries such as South Africa and Nigeria. Sub-Saharan Africa, in particular, is expected to bolster the demand for pharmaceutical packaging products throughout the forecast period backed by significant economic development. Emerging economies across the globe have encouraged international players to setup their manufacturing plants on the back of rising pharmaceutical exports in the aforementioned countries.
Another significant factor triggering the demand for pharmaceutical packaging materials is the increasing demand for blister packaging and drug delivery devices. In this respect, the emergence of novel drug delivery systems with unique forms (patches and rings) has necessitated the employment of pharmaceutical packaging materials across the globe. In addition, the market is driven by the increasing demand for blister packaging solutions for the packaging of drug items/products. The employment of blister packaging materials helps extend the shelf life of pharmaceutical products while offering enhanced clarity/transparency in packages.
North America emerged as the largest market for pharmaceutical packaging in 2018, with a revenue of USD 35.11 billion. The region is expected to retain its prominent position over the forecast period and claim a share of 33% by 2025. U.S. has been a leading regional market and has been witnessing exponential growth. Mexico is a major production site for large pharmaceutical companies. The emergence of Mexico as a sourcing destination for domestic companies looking to manufacture and sell complex, especially manufactured products is expected to boost pharmaceutical industry growth in the region. This, in turn, is likely to drive the product demand over the forecast period.
The pharmaceutical packaging market is highly fragmented with both domestic and international players sharing the market space. However, it is led by the players such as Amcor Ltd.; Becton, Dickinson & Company; Aptar Group Inc.; Capsugel Inc.; Gerresheimer AG; Schott AG;Owens Illinois Inc.; West Pharmaceutical Services Inc.; Berry Plastics Group Inc.; Westrock Company; andSGD SA among others. Product innovation, portfolio expansion, and mergers and acquisitions were observed to be some of the most preferred strategies by these players to stay abreast of the competition.
Access Research Report of Pharmaceutical Packaging Market @ www.grandviewresearch.com/industry-analysis/pharmaceutical-packaging-market
Further key findings from the report suggest:
Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the global pharmaceutical packaging market on the basis of material, product, end use, and region:
Pharmaceutical Packaging Material Outlook (Revenue, USD Million, 2014 - 2025)
Pharmaceutical Packaging Product Outlook (Revenue, USD Million, 2014 - 2025)
Pharmaceutical Packaging End Use Outlook (Revenue, USD Million, 2014 - 2025)
Pharmaceutical Packaging Regional Outlook (Revenue, USD Million, 2014 - 2025)
Access Press Release of Pharmaceutical Packaging Market @ www.grandviewresearch.com/press-release/global-pharmaceutical-packaging-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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About the AuthorNeha Bora
Joined: September 16th, 2019
Articles Posted: 1,188
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