Portland, OR, July 19, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the India Pharmaceutical Packaging Industry was estimated at $1.43 billion in 2020, and is anticipated to hit $3.02 billion by 2030, registering a CAGR of 7.54% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Advanced manufacturing processes to develop sustainable and eco-friendly packaging solutions, rise in product innovations to support new demands, emerging generic drug market and rapidly growing drug delivery market, upsurge in R&D activities, and use of innovative packaging drive the growth of the India pharmaceutical packaging market. On the other hand, volatility of prices in raw materials and strict government regulations & standards impede the growth to some extent. However, rise in patient-oriented medicines including biologics is anticipated to pave the way for lucrative opportunities in the industry.
Covid-19 scenario-
- The nationwide lockdown, government regulations, and continuous increase in infection rate across the country gave way to widespread financial impact on the packaging market, especially during the initial phase. The pharma companies were at stake, as the logistics chain for supplying cartridges, ampoules, and bottles was severely disrupted.
- However, the pandemic has given way to rise in demand for sterile packaging in the market since the outbreak has created fear among consumers about the ability of the virus to stay alive in packaging surfaces. This, in turn, has created immense opportunities for the major players to cater to the demands of the market.
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The India pharmaceutical packaging market is analyzed across product type and material. Based on product type, the parenteral container segment accounted for nearly one-fifth of the total market share in 2020, and is expected to grow at the fastest CAGR by 8.80% from 2020 to 2030. The specialty bags segment is also discussed in the report.
Based on material, the plastics and polymers segment contributed to the major share in 2020, holding more than two-thirds of the total market. The glass segment, on the other hand, would cite the fastest CAGR of 9.50% from 2020 to 2030.
The key market players analyzed in the India pharmaceutical packaging market report include Amcor Plc., West Pharmaceutical Packaging India Pvt. Ltd., APTAR GROUP INC., Uflex Limited, Huhtamaki PPL Ltd., Nipro Corporation, Schott Pharmaceutical Packaging, SGD Pharma India Ltd., Parekhplast India Limited, and Essel Propack Ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.