Pharmaceutical Contract Packaging Market Report 2020, COVID-19 Impact Analysis, Market Trends, Share, Size and Forecast Till 2025

According to new report by IMARC Group, titled “Pharmaceutical Contract Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global pharmaceutical contract packaging market was worth US$ 19.2 Billion in 2019. In order to provide an optimum pharmacological effect to the patients, drugs require to be safely packed after production. To ensure this, pharmaceutical companies outsource secondary operations such as labeling and packaging of drugs to contract firms. Pharmaceutical contract packaging is more profitable, flexible and assists in keeping up with the changing times. Contract packaging firms also provide secondary services like assembling, secondary packaging, and labelling of vials, pre-filled syringes and auto-injectors.

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Market Trends:

The implementation of strict rules and regulations by the governing agencies regarding the packaging of drugs has been the major growth-inducing factor for the market. Moreover, as opposed to drug manufacturers, pharmaceutical contract packaging vendors can undertake different types of packaging projects and can easily sort issues which arise from the complex packaging requirements. Further, these vendors are investing in research and development activities to improve the quality of their offerings. Apart from this, as these companies have a global presence, it helps the pharmaceutical companies in creating a fluid channel for the distribution of medicines and medical equipment across various regions. Additionally, the growing employment of smart packaging solutions, such as smart labels, is expected to create a positive outlook for the market.

Browse full report with TOC's: https://www.imarcgroup.com/pharmaceutical-contract-packaging-plant

Insights on Market Segmentation:

Breakup by Industry:

1. Small Molecule

2. Biopharmaceutical

3. Vaccine

On the basis of industries, the market has been segregated into small molecule, biopharmaceutical and vaccine. At present, small molecule represents the leading industry, accounting for the majority of the market share.

Breakup by Type

1. Sterile

2. Non-Sterile

Based on types, the market has been bifurcated into sterile and non-sterile segments. Currently, the sterile segment dominates the market, holding the largest share.

Breakup by Packaging

1. Plastic Bottles

2. Caps and Closures

3. Blister Packs

4. Prefilled Syringes

5. Parenteral Vials and Ampoules

On the basis of packaging, plastic bottles account for the biggest market share, followed by caps and closures, blister packs, prefilled syringes, and parenteral vials and ampules.

Breakup by Region

1. United States

2. Europe

3. China

4. India

5. Others

Region-wise, the market has been segmented into the United States, Europe, China, India and Latin America. Amongst these, the United States is the leading market, holding the dominant share.

Competitive Landscape

The competitive landscape of the market has also been examined in the report with the detailed profiles of the key players operating in the market.

Browse related reports:

Pharmaceutical Labeling Market:
https://www.imarcgroup.com/pharmaceutical-labeling-market

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