NEWARK, Del, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The global pharmaceutical container market is predicted to be appraised at US$ 180.38 billion by 2032, climbing up from a value of US$ 90 billion in 2022. The market is, thus, slated to expand at a strong CAGR of 7.2% from 2022 to 2032. Pharmaceutical containers are specially designed to meet the needs of the pharmaceutical sector and include containers like bottles and vials. The growing demand for these bottles and vials for the storage of different pharmaceutical substances like tablets, capsules, solutions, and suspensions as well as to ensure the correct dosage of drugs in a timely manner will likely fuel the growth of the pharmaceutical container market during the forecast period.
Pharmaceutical containers allow for the addition of preservatives which extends the shelf life of the product. The use of these containers also makes transportation easier for medicines and enables the treatment of patients all over the world. These benefits of using pharmaceutical containers augur well for the overall market. Again, increasing health consciousness, initiatives by various governmental and non-governmental to generate greater health awareness, and the increasing number of regular check-ups also contribute to the growth of the pharmaceutical container market. Many pharmaceutical firms also permit customization where the size of the container can be personalized and the order can be placed accordingly. This option is expected to have a positive impact on the growth of the pharmaceutical container market.
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The prevailing sustainability drives also aid the growth of the pharmaceutical container market. With advancing technology, many firms are working towards developing pharmaceutical containers which could be reduced, reused, and recycled. Reduce implies the presence of non-biodegradable components; reuse means that the containers can be reused and are environmentally friendly; and recycling indicates that if the container is of no use, then it can be recycled instead of polluting the environment. Thus, the reduce, reuse, and recycle features of these containers will further propel the growth of the pharmaceutical containers market during the forecast period.
Key Takeaways:
- Recent interest in Ayurveda may strengthen the growth prospects for the pharmaceutical container market.
- North America is currently the most significant market for pharmaceutical containers due to the strong presence of the pharmaceutical sector.
- Asia Pacific is expected to emerge as the swiftest-growing market for pharmaceutical containers due to growing consumer awareness and favorable government initiatives.
- Plastic bottles and vials pay a crucial role in the pharmaceutical container market as they are easy to transport and difficult to damage
Competitive Landscape
Amcor plc, Becton Dickinson and Company, Aptar Group Inc., West Pharmaceutical Services, Inc., Berry Global, Inc., WestRock Company, SGD Pharma, Drug Plastics Group, Gerresheimer AG, Schott AG, and Owens Illinois, among others are some of the predominant players in the pharmaceutical container market profiled in the full version of the report.
Leading market players are focusing on entering new markets and introducing and developing new products. These organizations also employ various organic and inorganic strategies to strengthen their market position.
More Insights into Pharmaceutical Container Market
In its latest report, FMI offers an unbiased analysis of the global pharmaceutical container market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product, material, and region.
According to the same report, based on regional segmentation, the pharmaceutical container market in North America will lead in the international market space. It is closely followed by the European region. During the forecast period, the Asia Pacific region is expected to emerge as one of the quickest-growing markets for pharmaceutical containers. Increasing consumer awareness and initiatives taken by various governments are responsible for the growth of the pharmaceutical container market in this region. Other factors like increasing disposable income of the general population also contribute to the growth of the Asia Pacific pharmaceutical container market.
In short, the convenience and other benefits like damage protection, as well as increasing sustainability drives, and availability of customization options, are considerations that fuel the growth of the global pharmaceutical container market during the forecast period.
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Key Segments Profiled in the Pharmaceutical Containers Market Survey
By Product:
- Bottles
- Standard
- Dispensing
- Jars
- Vials
- Cans
- IV Containers
- Semi Rigid IV Containers
- Premixed IV Mini bags
- Ampoules
- Others
By Material:
- Plastic
- PE
- LDPE
- HDPE
- Polystyrene
- Polycarbonate
- Polypropylene
- PVC
- PET
- Glass
- Type-1
- Type-2
- Type-3
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
2.3. Inclusions/Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product modifications/Innovation
4. Key Success Factors
4.1. Strategic Developments
4.2. Key regulations
4.3. Product USPs/Technology
4.4. List of Manufacturers and Providers
5. Market Background
5.1. Macro-Economic Factors
5.1.1. Global GDP outlook
5.1.2. Increasing R&D Expenditure
5.2. Forecast Factors - Relevance & Impact
5.2.1. New Product launches
5.2.2. Cost of Products
5.3. Market Dynamics
5.3.1. Drivers
5.3.2. Restraints
5.3.3. Opportunity Analysis
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Have a Look at Related Research Reports of Packaging Industry
Temperature Controlled Pharmaceutical Containers Market: The global temperature controlled pharmaceutical containers market is set to enjoy a valuation of US$ 4.9 Bn in 2022, registering growth at a CAGR of 8.5% to reach US$ 11.2 Bn by 2032. The sales of temperature-controlled pharmaceutical containers are anticipated to bolster with the top 3 countries estimated to hold around 35-40% of the market by the end of 2022.
Reefer Container for Pharmaceutical Market: The global reefer container for pharmaceutical market is projected to register at a moderate-paced CAGR of 12.5% over the forecast period. The reefer container for pharmaceutical market is currently valued at US$ 3602.85 Mn in 2022. By 2032, demand for reefer containers for pharmaceutical is expected to reach a high of US$ 11699.63 Mn.
Glass Container Market: The market is projected to have a significant CAGR of 5.2% by 2033. FMI forecasts revenue growth of the container glass market to expand from US$ 61.5 billion in 2023 to US$ 102.5 billion by 2033. Historically, the market showed significant growth, with a CAGR of 4.1% during 2017-2022.
Intermediate Bulk Container (IBC) Market: Research conducted by Future Market Insights (FMI) shows that the intermediate bulk container market is expected to register positive growth, with the overall valuation forecast to reach US$ 21 Bn in 2021. Sales registered in the market is expected to rise at 6.8% CAGR between 2021 and 2031.
Anti-counterfeit Pharmaceutical Packaging Market: The global anti-counterfeit pharmaceutical packaging market is expected to grow on an opulent note at the rate of 8.4% between 2022 and 2027. It could reach US$ 149.1 Bn by the year 2027.
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