The report “Pharmaceutical Packaging Market by Raw Material (Plastics, Paper & paperboard, Glass, Metal), Type (Plastic Bottles, Blisters, Caps & Closures, Labels & Accessories, Pre-filled syringes), Drug Delivery, and Region – Global Forecast to 2027”, size is projected to reach USD 229.9 billion by 2027 from USD 99.9 billion in 2021, at a CAGR of 14.9% during the forecast period.
Some of the prominent key players are:
· Schott AG (Germany)
· Amcor (Switzerland)
· Aptar Group (US)
· West Pharmaceutical Services, Inc. (US)
· Berry Global (US)
· Gerresheimer AG (Germany)
· Catalent (US)
· WestRock (US)
Opportunity: Growing demand for primary pharmaceutical packaging-
Primary pharmaceutical packaging are products that come in direct contact with the medicine or drug. They generally include plastic bottles, glass bottles, pre-filled syringes, pre-filled inhalers, medication tubes, blister packaging, and others. The major contributors to the growth of this segment are pre-fillable syringes and pre-fillable inhalers. Plastic bottles, blister packs, and ampoules & vials are also some of the primary pharmaceutical packaging that are growing rapidly. Advancements in biotechnology, leading to the introduction of new injectable parenteral therapies, and increased demand for high visibility unit dosage packaging for diseases such as diabetes will drive the primary packaging segment.
Based on raw material, plastics is projected to register the highest CAGR during the forecast period.
Plastics is projected to register the highest CAGR between 2022 and 2027. Plastics &polymers are widely used as raw materials for pharmaceutical packaging. Plastic provides freedom of design and cost-effective solution, making it a highly compatible solution for pharmaceutical packaging. Plastic is used widely in rigid pharmaceutical packaging for manufacturing various types of packaging such as bottles, jars, caps & closures. The exceptional shatter resistance provided by plastics enables ease of handling and transportation. In addition, plastics can be attributed to their easy moldability, strength, and effective barrier against gas and vapor.
Based on region, North America is estimated to be the largest market share for pharmaceutical packaging in 2022
North America is estimated to be the largest market share for pharmaceutical packaging in 2022. The rapid evolving pharmaceutical therapies, new pharmaceutical drug innovation and growing demand for smart packaging from pharmaceutical industries are driving the pharmaceutical packaging market in the region. The growing demand from the aging people, increase in chronic diseases such as diabetes, and commercialization of pharmaceuticals with huge government investment are also one of the major driving factors for the market.
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