Press release
Pharmaceutical Packaging Market Is Booming Worldwide with Top key players - Amcor Limited, Berry Plastics Corporation, MeadWestvaco Corporation, Becton Dickinson and Company, Owens-Illinois Inc., West Pharmaceuticals Services Inc., Schott Pharmaceuticals
Pharmaceutical Packaging
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North America dominated the pharmaceutical packaging equipment market in 2016, accounting for a market share of over 40% and is expected to retain its position throughout the forecast period. U.S. is the major contributor to the growth of this market and is expected to project a strong growth during the forecast period on account of frequent product launches by the major manufacturers in the field of pharmaceutical packaging. Furthermore, large presence of major manufacturers operating in the pharmaceutical industry such as Pfizer are creating huge opportunities for the manufacturers of pharmaceutical packaging in the country, which in turn is augmenting the growth of this market in North America.
Asia Pacific market is expected to project the highest CAGR of 10.37% during the forecast period due to growing urbanization and rising demand for healthcare services. India, Australia, China, South Korea and Japan are some major economies contributing to the growth of pharmaceutical packaging market in this region.
On the basis of material, plastics and polymers segment dominated the pharmaceutical packaging market in 2016, with a revenue of US$ 34.68 billion in the same year. Availability of numerous grades for plastic, easy handling due to light weight and its property of being chemically inert are some of the major factors responsible for the large market share of this segment.
Major Players in Global Pharmaceutical Packaging Market
Major players operating in the market of pharmaceutical packaging include Amcor Limited, Berry Plastics Corporation, MeadWestvaco Corporation, Becton Dickinson and Company, Owens-Illinois Inc., West Pharmaceuticals Services Inc., Schott Pharmaceuticals Services Inc., RPC Group Plc and Graphic Packaging International Inc.
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