The Global Pharmaceutical Packaging Market is projected to grow at CAGR of 5.93% during the forecast period to reach a market size of US$100.835 billion in 2023
The report published by Knowledge Sourcing Intelligence titled “Global Pharmaceutical Packaging Market- Forecast From 2018 to 2023” studies the various factors affecting the demand for pharmaceutical packaging worldwide. The report has been segmented by raw material (plastics and polymers, glass, paper and paperboard, metal foils and containers, others), pharmaceutical dosage type (liquid dosage, solid dosage, semi-solid and pressurized products) and packaging types (blisters packs, pre-fillable syringes, medical speciality bags, vials and ampoules, pouches and strip bags, others).
In addition, the Global Pharmaceutical Packaging market has been estimated based on the geography, covering five regions namely North America, South America, Europe, Middle East, and Africa and the Asia Pacific, and some of the major economies in each of these regions. The demand for pharmaceutical packaging will be driven by increasing demand for drug delivery devices, technological advancements, and reduction in the packaging cost with the advancement in the technology. The rise in the demand for reusable and specialty packaging is also expected to bolster the market growth during the given time frame. However, stringent government regulations and standards might restrain the growth of the market during the forecast period.
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By raw material, glass is projected to show significant growth in the global pharmaceutical packaging market.
It is estimated that plastic will hold a significant share in the global diabetes care market owing to the chemical inertness of the plastic, and also it can be used to create attractive packages with aesthetic appeal. Glass is impermeable to air & moisture, which further reduces the chances of the drug contamination, thus, increasing the demand for glass for packaging.
The North America region is estimated to hold the lion’s share in the global pharmaceutical packaging market throughout the forecast period.
Geographically, North America holds the largest market share due to the presence of major pharmaceutical players in the region. Also, quick adoption of the innovative pharmaceutical packaging in the region will further drive the market for pharmaceutical packaging in the region during the given forecast period.
This report also includes a study of strategies and product portfolios of some of the leading companies in the global pharmaceutical packaging market. It consists of company profiles of the leading companies such as Gerresheimer AG, Inc., IntraPac International Corporation, and SCHOTT AG, among others.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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