Global Pharmaceutical Packaging Market To Reach Worth US$ 130.73 Bn By 2025
According to the latest report published by Acute Market Reports “Pharmaceutical Packaging Market - Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global pharmaceutical packaging market was valued at US$ 70.87 Bn in 2016, and is expected to reach US$ 130.73 Bn by 2025, expanding at a CAGR of 8.8% from 2017 to 2025.
Market Insights
Global pharmaceutical packaging market comprises study of all the materials used for packaging of the pharmaceuticals. The global market includes the packaging carried out by the manufacturing companies as well as drugs packed on the contract basis. Numerous materials are utilized for the packaging of the drugs including plastics, polymers, paper, glass, aluminum foil. Due to the increasing global disease burden, manufacturing of the pharmaceuticals is rising, which leads to the growth of global pharmaceutical packaging material.
Increased research & development for the novel and innovative packaging materials, increased healthcare expenditure by the government, growth in generic drugs market and demand for eco-friendly and reusable packaging materials are some of the factors that are driving the market. Other driving factors include the establishment of new pharmaceutical manufacturing plants in developing countries and increase in trend of contract packaging. Growing cost of raw materials used in pharmaceutical packaging hinders the global pharmaceutical packaging market.
Browse the full report Pharmaceutical Packaging Market - Growth, Future Prospects and Competitive Analysis, 2017-2025 at https://www.briskinsights.com/report/pharmaceutical-packaging-market
Based on their types, the global pharmaceutical packaging market is segmented into ampules, blister packs, canisters, cartridges, IV bags, medical specialty bags, mini-jars, plastic bottles, pouches, sachets, syringes, tubes, vials and others. In terms of market value, plastic bottles segment leads the market followed by blister packs and pouches. On the basis of types of material, the global pharmaceutical packaging market is segmented into plastics & polymer, glass, aluminum foil, paper & paperboard, and others. Plastics segment leads the global market due to the preference of plastics over other segments of the market.
Based on drug delivery method, the global pharmaceutical packaging market is segmented into oral drug packaging, pulmonary drug packaging, transdermal drug packaging, injectable drug packaging, nasal drug packaging and others. Oral drug packaging segment dominates the global pharmaceutical packaging market and is expected to maintain its dominance in the forecast period.
On the basis of geographical regions, the global pharmaceutical packaging is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. In terms of market value, North America dominates the global pharmaceutical packaging market. According to the market analysis, North America is expected to maintain its dominance in the forecast year. Asia Pacific market segment is escalating due to improved healthcare services in the region. As the market is highly fragmented due to the presence of many manufacturing companies, there is no clear market leader. Some of the key players include Amcor, Ltd., Aptar Group, Inc., Baxter International, Inc., Becton Dickinson and Company, Bemis Healthcare Packaging, Berry Plastics Corporation, Capsugel, Inc., Gerresheimer AG, Graphic Packaging Group, MeadWestvaco Corporation, Owens-Illinois, RPC Group, Schott Pharmaceuticals Services, Inc., Sealed Air Corporation, Westrock and Catalent Pharma Solutions, Inc.