Dublin, Dec. 01, 2021 (GLOBE NEWSWIRE) -- The "Pharmaceutical Packaging - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Pharmaceutical Packaging Market to Reach $161.6 Billion by 2026
Global market for Pharmaceutical Packaging estimated at US$98.2 Billion in the year 2020, is projected to reach a revised size of US$161.6 Billion by 2026, growing at a CAGR of 8.4% over the analysis period. Plastics & Polymers, one of the segments analyzed in the report, is projected to grow at a 9.1% CAGR to reach US$83.1 Billion by the end of the analysis period.
A key sector of the global packaging industry, pharmaceutical packaging is designed to offer protection and storage of various types of pharmaceutical products like medications, drugs and others.
Growth in the global market is being driven by increasing healthcare awareness, new drug approvals, rising healthcare spending and buoyant market for biopharmaceuticals and generics. The demand for packaging in pharmaceutical industry is also propelled by regulations pertaining to tracing and serialization of products.
The advent of novel biochemical compounds and drug delivery systems along with innovations in pharmaceuticals like blow fill seal vials, prefilled syringes and powder applications are influencing the packaging market. Another factor driving the market growth is rising geriatric population and increasing incident of chronic conditions, pushing the demand for new and effective pharmaceutical products. The rapid growth of the pharmaceutical industry, in view of the ongoing COVID-19 pandemic, is providing support to the growth of pharmaceutical packaging market.
The U.S. Market is Estimated at $38.5 Billion in 2021, While China is Forecast to Reach $24 Billion by 2026
The Pharmaceutical Packaging market in the U.S. is estimated at US$38.5 Billion in the year 2021. The country currently accounts for a 34.87% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$24 Billion in the year 2026 trailing a CAGR of 10.2% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 7.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.5% CAGR while Rest of European market (as defined in the study) will reach US$26.1 Billion by the end of the analysis period.
North America is a major market and likely to play an active role in driving the popularity and adoption of pharmaceutical packaging solutions in the region due to launch of various products with specific packaging needs. The region benefits from the presence of major pharmaceutical companies, availability of advanced technological research platforms, include the increasing funding towards research and development and increased government support.
Growth in Europe is fueled by increasing pharmaceutical production and rising adoption of flexible packaging solutions by leading pharmaceutical companies. Asia-Pacific region is expected to witness high growth due to expansion of the pharmaceutical industry, increasing pharmaceutical production, a sizeable patient pool, rising consumer awareness and the need for novel packaging materials.
Glass Segment to Reach $25 Billion by 2026
Glass is a key material used in pharmaceutical packaging, primarily due to the inert nature of glass. The market for glass packaging material is expected to continue witnessing high demand drive by the increasing availability and manufacture of atmosphere-sensitive pharmaceutical drugs. In the global Glass segment, USA, Canada, Japan, China and Europe will drive the 7.7% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$11.7 Billion in the year 2020 will reach a projected size of US$19.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.9 Billion by the year 2026, while Latin America will expand at a 8.4% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Pharmaceutical Packaging Sector Remains Stable
- COVID-19 to Restructure the Pharmaceutical Supply Chain Management
- Pharmaceutical Packaging Players Gear Up with Sterile, Antiviral Packaging to Deal with COVID-19 Challenge
- Unprecedented Global Push to Expedite COVID-19 Vaccine Development Spurs Demand for Packaging Products
- Contract Packaging Companies Focus on Innovations Amidst the Pandemic
- Valor Glass Gains Prominence for COVID-19 Vaccine Packaging
- An Introduction to Pharmaceutical Packaging
- A Prelude to Pharmaceutical Packaging
- Global Market Prospects & Outlook
- Advancements in Pharmaceutical & Biopharmaceutical Industries Fuel Growth kin Packaging Market
- Primary Packaging Solutions Lead the Market
- Plastics & Polymers: The Preferred Material for Pharmaceutical Packaging
- Plastic Bottles Represent Leading Product Type in Pharma Packaging Market
- Developing Economies to Spearhead Long-term Growth
- Competition
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 246 Featured)
- 3M Company
- Amcor plc
- AptarGroup, Inc.
- Becton, Dickinson and Company
- Berry Global, Inc.
- Catalent, Inc.
- CCL Industries Inc.
- Flexituff Ventures International Ltd.
- Gerresheimer AG
- Klockner Pentaplast Group
- MaxQ
- McKesson Corporation
- Schott AG
- Vetter Pharma International GmbH
- W. L. Gore & Associates, Inc.
- West Pharmaceutical Services, Inc.
- WestRock Company
3. MARKET TRENDS & DRIVERS
- Strong Rise in Pharmaceutical Sales to Drive Demand for Packaging Solutions
- Rapid Growth of Generic Drugs Drives Demand for Pharma Packaging Market
- Increasing Significance of Biologic Drugs Fuels Innovations in Packaging and Delivery Techniques
- Increasing Sales of OTC Drugs Presents an Opportunity for Pharma Packaging Makers
- Aging Population & Increasing Burden of Chronic Diseases Spurs Pharma Product Sales, Driving Market Growth
- Persistent Increase in Pharmaceutical R&D Bodes Well for Packaging Manufacturers
- Market Poised to Benefit from the Rapid Growth of Pharmaceutical Contract Manufacturing Activity
- Contract Packaging Trend Augurs Well for the Pharma Packaging Market
- With Emerging Economies Becoming Hubs of Pharma Manufacturing Activity, Growth Potential in Store for Pharma Packaging Companies
- Glass Pharmaceutical Packaging Market: Sustained Growth in Store
- Increased Demand for Novel Glass Variants for Packaging Vaccines
- Efforts to Boost Manufacturing of Glass Vials and Prefilled Syringes for COVID-19 Vaccine Gain Traction
- Fears of Glass Vial Shortage Prompts Flurry of Industry Activities
- Glass Bottles: The Largest Product Type
- Glass Ampoules Emerge as a Preferred Packaging Option for Pharma Companies
- Silica Bottles Facilitate Targeted Drug Delivery
- Recyclability and Sustainability Increases Commodity Value of Glass, Paving Way for Use in Pharma Sector
- Concerns over Sustainability of Plastic Brings to Light the Importance of Glass for Pharmaceutical Packaging Companies
- Innovative Glass Packaging Solutions Help Improve Quality of Drugs
- Glass Flakes: A Key Concern for the Pharmaceutical Glass Packaging Manufacturers
- Aluminosilicate Glass Emerges as a Solution to the Issue of Glass Flakes
- Parenteral Packaging Market Drives Demand for Novel Packaging Solutions
- Blister Packaging: The Mainstay of Pharmaceutical Packaging
- Blister Packaging on Rise in the Pharmaceutical Sector
- Strong Demand for Unit-Dose Packaging for Patient Compliance Supports Growth
- R&D Initiatives Set Perfect Stage for Market Growth
- Pharmaceutical Industry: A Promising Application for Flexible Packaging
- Pharmaceutical Packaging Sector Makes Widespread Use of Caps and Closures
- Self-Administration Drug Delivery Devices Fuel Market Growth
- Small Batch Productions Find Favor in Pharma Industry
- Increasing Use of Blow/Fill/Seal Technology in Pharmaceutical Packaging Applications
- Rising Demand for Integrated and Flexible Packaging Solutions in Pharma Industry
- Demand Continues to Grow for Ready-to-Use Packaging Systems
- Labeling & Serialization Benefits from Increased Focus on Preventing Counterfeiting of Drugs
- Tamper-Proof Packaging Gains Prominence in Pharmaceutical Industry
- Rise of Smart Packaging in Pharmaceutical Sector Boosts Market Prospects
- Smart Pharma Packaging Solutions Influence Market Prospects
- Digitization Facilitates Transformation Pharmaceutical Packaging Space
- AI and Data: Role in Inspection and Minimizing Non-Compliance for Pharma Packaging Sector
- Blockchain Comes into Spotlight to Fight Counterfeiting of Drugs
- Technological Advancements & Innovations Drive Growth in Pharmaceutical Packaging Market
- Intelligent Pharmaceutical Packaging Focus on Improving User Experience
- A New Hybrid Material for Packaging COVID-19 Vaccines and Other Biologics: Combining the Best of Glass and Plastic
- Sustainable Packaging: An Important Consideration for Pharma Packaging Companies
- Strict Regulatory Standards for Packaging & Need to Eliminate Counterfeit Products Influence Market Development
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/71wpde
