The Pharmaceutical Packaging Market research report 2021 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The Pharmaceutical Packaging market report provides information regarding market size, share, trends, growth, cost structure, Pharmaceutical Packaging market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2026.
The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the Pharmaceutical Packaging market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the Pharmaceutical Packaging industry and provides data for making strategies to increase market growth and effectiveness. The report covers the post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.
The Pharmaceutical Packaging Market was valued at USD 73.49 billion in 2020 and is expected to reach a value of USD 118.01 billion by 2026 and grow at a CAGR of 8.24%, during the forecast period (2021-2026).
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendors/key players in the market. Top Companies in the Global Pharmaceutical Packaging Market: Amcor Limited, 3M Company, Schott AG, WestRock Company, Berry Global Inc., McKesson Corporation, AptarGroup Inc., Klöckner Pentaplast Group, CCL Industries Inc., FlexiTuff International Ltd, Gerresheimer AG, West Pharmaceutical Services, Inc., Becton, Dickinson and Company, Vetter Pharma International GmbH, Catalent Inc., W. L. Gore & Associates Inc., PackMaxQ, and others.
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Key Market Trends
Glass Packaging Hold Significant Market Share
– Glass packaging is one of the primary packaging materials used by the pharmaceutical industry, as it limits the alkalinity and hydrolytic resistance of the glass container. Within the pharmaceutical packaging market, glass bottles are expected to occupy a significant share by volume, driven by an increasing number of applications in both solid and liquid oral medications, as containers provide convenience, safety, and security.
– Glass containers offer high transparency, which allows easy inspection of its contents, and enables protection because it is relatively impermeable to air and moisture and chemical resistance to most of the medicinal products. Moreover, the demand for pharmaceutical glass and containers is majorly from densely populated economies, such as India and China. The growing pharmaceutical production in these countries is further increasing demand.
North America to Occupy Largest Share
– North America is known for its technological development and product innovations, which is motivating manufacturers to produce high-class packaging solutions for the pharmaceutical industry. Major factors driving the North American pharmaceutical packaging market’s growth include the contribution of nanotechnology advancement in manufacturing processes and technological innovation, growing demand for drug delivery devices, and blister packaging to the pharmaceutical packaging market.
– The United States will continue to be the largest national pharmaceutical packaging market as its advanced drug-producing sector commercializes new sophisticated therapies with specialized packaging needs. Advances in pharmaceutical packaging in the country are focused on improving the barrier properties of the packaging material.
Some of the recent developments in the market are –
– Mar 2019 – West Pharmaceuticals opened New Digital Technology Center in Bengaluru, India. This Digital Technology Center will allow West Pharmaceutical team to create compelling digital experiences for their global customer base, source talent from India’s fast-growing technology industry, and bring forward the latest digital advancements to create insights and value for their customers and team members for ultimately delivering better business results.
– April 2019 – SCHOTT invested BRL 50 million in its pharmaceutical tubing production in Rio de Janeiro, as part of its global growth strategy. As the demand in pharmaceutical industries increases, SCHOTT is contributing to manufacture 100% inspection of glass tubing to detect possible defects.
What are the market factors that are explained in the report?
– Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
– Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
– Analytical Tools: The Pharmaceutical Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. Analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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