Pharmaceutical Packaging Market Demand is Increasing Rapidly by 2027, Fortune Business Insights™
The global pharmaceutical packaging market size is expected to reach USD 153.93 billion
by 2027, exhibit a CAGR of 6.4% during the forecast period. The growing adoption of novel and generic
drugs in developing countries will have an excellent impact on the global
market, states Fortune Business Insights, in a report, titled “Pharmaceutical
Packaging Market Size, Share & Industry Analysis, By Material(Plastics,
Glass, Metal, Paper & Paperboard,), By Product (Plastic Bottles, Caps &
Closures, Pre-Fillable Inhalers, Pre-Fillable Syringes, Vials & Ampoules,
Blister Packs, Bags & Pouches, Jars & Canisters, Cartridges,), By
Packaging Type (Primary, Secondary, and Tertiary), By Drug Delivery Mode), and
Regional Forecast, 2020-2027.” The market size stood at USD 90.23 Billion in 2019.
The
coronavirus incident has caused massive loss and disruption to various
industries across the globe. We understand that this health disaster has
negatively impacted various sectors across the globe. Rising support from
governments and several companies can help in the fight against this highly
infectious virus. There are some industries that are struggling and some are
thriving. More or less, nearly every sector is estimated to be impacted by this
pandemic.
We
are making endless efforts to uplift businesses in this crucial need of the
hour. Our expertise and experience can offer enormous benefits to help regain
this global pandemic.
The
Report Lists the Key Companies in the Pharmaceutical Packaging Market:
·
Origin
Pharma Packaging (UK)
·
Nelipak
Healthcare (Alberta)
·
Pharma
Packaging Solutions (TN)
·
Becton
Dickinson & Company (US)
·
West
Pharmaceutical Services, Inc. (US)
·
Carcano
Antonio S.p.A. (Italy)
·
Lonza
Group AG (Switzerland)
·
ALPLA-Werke
Alwin Lehner GmbH & Co KG (Austria)
·
Constantia
Flexibles (Austria)
·
CCL
Industries Inc. (Canada)
·
Others
Market Driver:
Booming
Pharmaceutical Industry to Boost Market
The
flourishing pharmaceutical industry in developing nations such as
China, India, and Brazil and developed economies such as the US, UK, and
Germany will spur lucrative opportunities for the market during the forecast
period. The increasing technological advancements and healthcare spending will
contribute positively to the market growth. The growing healthcare awareness
along with mandatory government regulations to curb the spread of infectious
diseases will have a tremendous effect on the market. Moreover, the inflated
demand for biological products and emerging treatments like cell and gene
therapies will further enable the speedy expansion of the market.
The report on the pharmaceutical
packaging market encompasses:
·
Grander analysis of the market
·
Important insights into the
competitive landscape
·
Factors
restricting market growth
·
Recent trends and
development
·
Prime factors
enabling growth
Pharmaceutical
Industry to Remain Unaffected During COVID-19 Pandemic
The coronavirus has disrupted
various industries, resulting in the shortage of laborers&raw materials,
distraught production processes, as well as transportation and logistics.
However, the pharmaceutical industry remained unaffected owing to the
government's support for the supply of essential drugs and goods.
Pharmaceutical industries remained operational throughout the pandemic to
manufacture healthcare products. The government backing for COVID kits and
masks further encouraged packaging companies to accelerate their business amid
the pandemic. The ongoing automated operations have increased sales in recent
years, in turn, promotingthe growth of the market.
Browse Summary of This Research:
https://www.fortunebusinessinsights.com/pharmaceutical-packaging-market-102860
Regional Analysis:
Heavy Demand for Packaging Products to Aid Expansion in
North America
The market in North America is
expected to hold the largest share during the forecast period owing to the
rapidly flourishing pharmaceutical
industry. The increasing demand for packaging products will further enable
speedy expansion in the region. The growing healthcare spending and rising
prevalence of diseases will further spur demand in the region. The increasing
utilization of pharmaceutical products such as plastic bottles &
containers, vials & ampoules, and pre-fillable syringes will bolster the
healthy growth of the market in North America. Asia Pacific is expected to hold
a significant share in the global market owing to the growing pharmaceutical
industry in countries such as China, Japan, and India. The rising investments
by pharmaceutical manufacturing companies will contribute positively to the
market growth.
Key
Development:
June 2020: SCHOTT announced agreements with
leading pharmaceutical companies, including partners of ‘Operation Warp Speed’
to deliver 2 billion doses of pharma vials packaging to COVID-19 vaccines
Information Source
https://www.fortunebusinessinsights.com/pharmaceutical-packaging-market-102860
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