Newark, Sept. 11, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global pharmaceutical packaging market is anticipated to grow from USD 117.91 Billion in 2022 to USD 182.94 Billion by 2032, at a CAGR of 4.49% during the forecast period 2022-2032. North America emerged as the most significant pharmaceutical packaging market, with a 36.21% market revenue share in 2022. This is largely due to the region's new drug innovations, scientific advancements, such as nanomedicines and biologics. In addition, improved healthcare coverage, improvements in business models such as alliances with third parties and externalized R&D in the pharmaceutical industry are anticipated to boost demand for pharmaceutical packaging.
Request to Download Sample Research Report - https://www.thebrainyinsights.com/enquiry/sample-request/12579
Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 117.91 Billion |
| Market Size in 2032 | USD 182.94 Billion |
| CAGR | 4.49% |
| No. of Pages in Report | 239 |
| Segments Covered | Type and Raw Material |
| Drivers | Increasing demand for pharmaceutical packaging |
| Opportunities | The imposition of stringent regulations for product approval in end-user industries |
| Restraints | The fluctuating cost of manufacturing |
The pre-filled syringes segment is anticipated to be the fastest-growing type with a CAGR of around 6.7% over the forecast period.
The type of segment is divided into plastic bottles, labels & accessories, blister packs, caps & closures, vials, pre-filled syringes and ampoules. The pre-filled syringes segment is anticipated to be the fastest-growing type with a CAGR of around 6.7% over the forecast period. The growth in the elderly population the rise in non-communicable diseases like diabetes, fuel demand for pre-filled syringes.
The plastics & polymers segment held the largest market share of around 30.4% and a market value of around USD 32.83 billion in 2020.
The raw material segment includes plastics & polymers, glass, paper & paperboards, metals and others. The plastics & polymers segment held the largest market value of around USD 32.83 billion in 2020, since plastic is easy to handle and lightweight. Plastics are the materials that are often used in pharmaceutical packaging. Due to properties such as moisture barrier, high dimensional stability, high impact power, strain resistance, low water absorption, transparency, heat and flammability, etc., Plastics have become increasingly essential in the packaging of pharmaceutical products.
Regional Segmentation Analysis:
The regions evaluated for theglobal pharmaceutical packaging market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North America region led the global pharmaceutical packaging market with revenue of USD 37.36 billion in 2020. North America is known for its technological development and product innovation, which motivates manufacturers to deliver high-class pharmaceutical packaging solutions. Major factors driving the growth of the North American pharmaceutical packaging industry include the contribution of nanotechnology advancement in manufacturing processes and technological innovation, increasing demand for drug delivery devices and blister packaging.
Interested to Procure the Research Report? Inquire Before Buying - https://www.thebrainyinsights.com/enquiry/buying-inquiry/12579
Competitive Analysis:
Major players in the global pharmaceutical packaging market are Amcor plc, AptarGroup, Inc., Becton, Dickinson, and Company, Berry Global, Inc., Catalent, Inc., CCL Industries Inc., Comar LLC, Gerresheimer AG, International Paper Company, Nipro Corporation, Schott AG, Vetter Pharma International, West Pharmaceutical Services, Inc. and WestRock Company among others.
This study forecasts revenue growth at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global pharmaceutical packaging market on the basis of below mentioned segments:
Global Pharmaceutical Packaging Market by Type:
• Plastic Bottles
• Blister Packs
• Labels & Accessories
• Caps & Closures
• Pre-filled Syringes
• Vials
• Ampoules
Global Pharmaceutical Packaging Market by Raw Material:
• Plastics & Polymers
• Paper & Paperboards
• Glass
• Metals
• Others
About the report:
The global pharmaceutical packaging market is analysed on the basis of value (USD billion). All the segments have been analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
Have Any Query? Ask Our Experts: https://www.thebrainyinsights.com/enquiry/speak-to-analyst/12579
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
