Technological Advancements Set to Accelerate Growth of the Global Pharmaceutical Packaging Market over 2032

Market Insights:

According to Market Research Future (MRFR)’s study, the global pharmaceutical packaging market is set to witness moderate growth during the forecast period 2023 - 2032. The advancements in the pharmaceutical industry has necessitated the upgradation and modernization of traditional packaging processes. Furthermore, the stringent legislations levied for ensuring drug safety have further propelled the expansion of the pharmaceutical packaging market in recent years. These factors are expected to work combinedly towards the growth of the global market in the forthcoming years to expedite the expansion of the pharmaceutical packaging market.

The increasing concern regarding environmental degradation has facilitated the adoption of eco-friendly packaging materials. It is a new development in the market and is projected to gain traction across the assessment period, thus, augmenting the pharmaceutical packaging market. Furthermore, the developments in the healthcare sector are prognosticated to reflect on the growth of the market in the foreseeable future.

Market Segmentation:

By type, the global pharmaceutical packaging market has been segmented into bottle & vials, aerosol packs, tubes, blister packs, sachets, ampoules and others.

By packaging, the pharmaceutical packaging market has been segmented into flexible, rigid and semi-rigid.

By application, the global pharmaceutical packaging market has been segmented into medical tools & equipment, generic drugs, branded drugs, and others.

By material, the pharmaceutical packaging market has been segmented into glass, Plastic Packaging, and paper.

Regional Analysis:

The global pharmaceutical packaging market, by region, has been segmented into Asia Pacific, North America, Europe, and the Middle East & Africa. North America is poised to exhibit impressive growth over the assessment period. The availability of raw materials and technological advancements are the key factors responsible for catalyzing the growth of the regional market. Furthermore, the growth trajectory of the market is guided by the strong value maintained by the pharmaceutical industry. Novel technologies and product launches are the major strategies adopted by the key players for gaining an edge over competitors. The intense competition represented by the competitive landscape of the pharmaceutical packaging market in the region has paved the way for new wave of opportunities. The adoption of desiccants for the pharmaceutical and chemical sectors is further expected to boost sales in the regional pharmaceutical packaging market over the assessment period.

Asia Pacific is projected to experience rapid growth through the forecast period. The manufacturing ability of the region is thriving and is poised to exhibit a similar trend over the next couple of years. Furthermore, the pharmaceutical packaging market is set to benefit from the enforcement of regulations that are aimed at improving quality of the domestically produced medicines. The consolidation of vital country-level markets such as India and China are likely to augment the pharmaceutical packaging market in the Asia Pacific over the projection period.

Competitive Dashboard:

Some of the key players profiled in the report are Amcor Ltd. (Australia), AptarGroup, Inc. (U.S.), Berry Plastics Group (U.S.), Gerresheimer AG (Germany), Becton, Dickinson and Company (U.S.), Capsugel Inc. (U.S.), Schott AG (Germany), Owens-Illinois (U.S.), Westrock Company (U.S), and COMAR LLC (U.S.).

Industry News:

In October 2018, Sanner, a producer of high-quality primary plastic packaging for the healthcare industry, has offered desiccant and teststrip packaging for healthcare and pharmaceutical products.

In November 2018, Xttrium Laboratories of Mount Prospect, IL, has introduced a new line of 16-oz PET bottles of mouthwash which features robotic palletizing software. The palletizing software helps in streamlining the process of palletizing.

In November 2018, PCI Pharma (PCI), which is a biopharmaceutical outsourcing services provider, acquired Sherpa Clinical Packaging for strengthening its product offerings.

In November 2018, Vetter, a pharmaceutical packaging provider, expanded its secondary packaging site at Ravensburg, Germany, due to rising customer demand.

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Access Full Report Details - Pharmaceutical Packaging Market Size