London, Feb. 23, 2023 (GLOBE NEWSWIRE) -- An approximately US$100 Bn industry, global pharmaceutical packaging market is highly dynamic and continues to be influenced by multiple interesting trends. While packaging demand within pharma remains buoyant on account of the major activity like drug development and discovery, a new study of Fairfield Market Research also identifies several other growth influencers shaping the global pharmaceutical packaging market. The report says alarming chronic disease prevalence that demand novel drug formulations will accelerate the growth of market in future. “Demand surge in OTC drugs will especially create a favorable ground for pharmaceutical packaging materials,” says the analyst. In addition, growing preference for single-dose packaging formats, and rapid expanse of e-Pharmacy will further heighten the growth outlook for market. Biological drugs present a significant challenge to packaging companies as these drugs are manufactured in relatively small batches, and although take industry into a new era, they anticipate a significant, complex supply chain glitch that will be a growth limiting factor for the market in long run. On the other hand, the biologics will also create a favorable growth environment for relevant syringe and container sales.
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Insights into Segmental Analysis
The global COVID-19 pandemic saw several new drug categories debuting on record-breaking timelines, especially mRNA drugs and vaccines. This however challenged both pharma and packaging companies to bring to the table the best suitable drug containment solutions faster. Plastics currently lead the global pharmaceutical packaging market with the perceived benefits in terms of weight, costs, strength, and barrier attributes. Plastic ampoules thus remain sought-after for drug and medicinal packaging applications. The viral outbreak thus served as a phenomenal booster to pharmaceutical packaging market. Growing demand for temperature-controlled packaging solutions pushed glass and plastic vials, as well as other equivalent materials up during vaccination kick-offs, whereas the market witnessed a large capacity bottleneck post-vaccination. However, as pharma waste remains among the most concerning issues worldwide, the quest for sustainability continues to hover over both the single-use plastics, and non-biodegradable materials.
Insights into Regional Analysis
Momentous development of pharmaceutical industry accounts for Asia Pacific’s growing market lucrativeness in the global pharmaceutical packaging industry. China, and India are especially projected to exhibit notable growth as packaging companies eye the influx of opportunities arising in the region. Expanding chronic patient pool, and rocketing sales of medicines, OTC drugs, and vaccines collectively contribute a large share toward the remarkable growth anticipated for Asia Pacific in the global pharmaceutical packaging market. Soaring demand for advanced packaging solutions further raises the growth prospects of the market. Consistently improving healthcare expenditure of governments in the region are likely to support market growth to a large extent, says the report.
Pharmaceutical packaging Market: Competitive Landscape
A few of the key players in the pharmaceutical packaging market include Schott AG, Berry Global, Amcor, WestRock, West Pharmaceutical Services Inc., and Gerresheimer.
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Global Pharmaceutical Packaging Market is Segmented as Below:
By Material
- Plastics
- Paper & paperboards
- Glass
- Metal
- Others
By Drug Delivery
- Oral Drugs
- Injectables
- Topical
- Ocular/ Ophthalmic
- Nasal
- Pulmonary
- Transdermal
- IV Drugs
- Others
By Type
- Plastic bottles
- Blister
- Labels & accessories
- Caps & closures
- Temp controlled packaging
- Vials
- Ampoules
- Jars & Canisters
- Cartridges
- Others
By Region
- North America
- Europe
- Asia Pacific
- LAMEA
Key Elements Included In The Study: Global Pharmaceutical Packaging Market
- Pharmaceutical Packaging Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value and Volume, 2018 - 2021
- Volume Consumption at Regional and Country Level, 2022 - 2029
- Market Dynamics and Economic Overview
- Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/pharmaceutical-packaging-market/more-information
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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