Pharmaceutical Packaging Market Size, Analytical Overview, Growth Factors, Demand and Trends Forecast: 2019-2029
The global pharmaceutical packaging market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each pharmaceutical packaging market player in a comprehensive way. Further, the pharmaceutical packaging market report emphasizes the adoption pattern of the pharmaceutical packaging across various industries.
The pharmaceutical packaging market report highlights the following players:
- Drug Plastics Group
- Owens Illinois Inc.
- WestRock Company SGD S.A.
- International Paper Company
The pharmaceutical packaging market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
Advancements in packaging technology such as smart labelling, enhanced dosing techniques, and renewable materials are propelling the pharmaceutical packaging market to grow 2.2X during the forecast period (2019-2029). Increasing healthcare spending in developed countries and growing preference for convenient packaging solutions, especially among millennials, will propel growth. Market incumbents are investing in expansion strategies and research & development of sustainable packaging materials that comply with stringent government regulations. In February 2019, European Union (EU) mandated the serialization of pharmaceutical drugs to improve tracking of pharmaceuticals and curb counterfeiting activities.
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Plastics & Polymers will grow 2X during the forecast on the back of increasing adoption of sub-segments such as polypropylene in sustainable packaging practices. Primary pharmaceutical packaging is going to grow two-folds between 2019 and 2029. Development of new drugs such as Apelisib (Piqray, Selinexor (Xpovio) will further generate demand for primary packaging. Contract packaging will show 2.4X growth through the end of forecast. This is attributable to prevalence of strategic partnership between pharmaceutical companies and packaging manufacturers. North American pharmaceutical packaging market exhibits 1.8X growth during the forecast period. Growing geriatric population, coupled with health conscious millennials opting for preventive care, positions this region as a majority shareholder of the total market value.
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FactMR, in its new offering, provides an in-depth analysis of the global pharmaceutical packaging market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the pharmaceutical packaging market on the basis of material (Plastics & Polymers (Polypropylene, Polyethylene, Polyethylene Terephthalate, Polyvinyl Chloride, Polystyrene, and Others), Paper & Paperboard, Glass, Aluminum Foil, and Others), product type (Primary (Plastic bottles, Caps & Capsules, Parenteral Containers, Blister Packs, Refillable Inhalers, Pouches, Medication Tubes, and Others), Secondary (Prescription containers, pharmaceuticals packaging Accessories), Tertiary), Application (Pharmaceutical manufacturing, retail pharmacy, contract packaging, institutional pharmacy, and Others), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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