Press release
Pharmaceutical Packaging Market | Key players operating in the market include Berry Global Inc., Amcor plc, Gerresheimer AG, Schott AG AptarGroup and Inc.
Pharmaceutical Packaging Market, Pharmaceutical Packaging Industry, COVID 19 impact on Pharmaceutical Packaging Market
Browse 71 market data Tables and 40 Figures spread through 162 Pages and in-depth TOC on "Pharmaceutical Packaging Market - Global Forecast to 2024"
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The pharmaceutical packaging market is projected to grow from USD 83.6 billion in 2019 to USD 111.9 billion by 2024, at a CAGR of 6.0%. The major drivers for the pharmaceutical packaging market include increasing demand for pharmaceuticals in emerging markets owing to better access to healthcare, rising healthcare expenses, and growing consumer awareness regarding healthier lifestyle. Also, advanced drug delivery and innovative packaging solutions with higher patient convenience drive the market for pharmaceutical packaging.
Pharmaceutical packaging is used for different drug delivery modes such as oral drugs, pulmonary, transdermal, injectables, topical, nasal, ocular/ophthalmic, and IV drugs. Companies such as Berry Global Inc. (US) Amcor plc (Australia), AptarGroup, Inc. (Us), Gerresheimer AG (Germany) and Schott AG (Germany) operating in the pharmaceutical packaging market have adopted both organic and inorganic growth strategies such as new product launch, merger & acquisition, investment & expansion, agreement & collaboration, and joint ventures to serve their customers efficiently and increase their market shares.
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The pharmaceutical packaging market is projected to grow from USD 83.6 billion in 2019 to USD 111.9 billion by 2024, at a CAGR of 6.0%. The major drivers for the pharmaceutical packaging market include increasing demand for pharmaceuticals in emerging markets owing to better access to healthcare, rising healthcare expenses, and growing consumer awareness regarding healthier lifestyle. Also, advanced drug delivery and innovative packaging solutions with higher patient convenience drive the market for pharmaceutical packaging.
Pharmaceutical packaging is used for different drug delivery modes such as oral drugs, pulmonary, transdermal, injectables, topical, nasal, ocular/ophthalmic, and IV drugs. Companies such as Berry Global Inc. (US) Amcor plc (Australia), AptarGroup, Inc. (Us), Gerresheimer AG (Germany) and Schott AG (Germany) operating in the pharmaceutical packaging market have adopted both organic and inorganic growth strategies such as new product launch, merger & acquisition, investment & expansion, agreement & collaboration, and joint ventures to serve their customers efficiently and increase their market shares.
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Berry Global Inc. (US) has gained a strong foothold in the pharmaceutical packaging market. The company has a strong product portfolio for pharmaceutical packaging. The company operates through its multiple production sites and has extensive R&D infrastructure, which helps the company attain economies of scale. It focuses on offering customized solutions, and consistent customer service orientation to cater to consumer demand and achieve growth in the market.
Gerresheimer (Germany) is another major player operating in the market. The company has a strong global presence and offers a wide range of innovative pharmaceutical packaging products such as bottles, vials, ampoules, and others. The company is focusing on organic growth strategies of new product launch and investment & expansion for increasing its geographical footprints and strengthen product portfolio and hence, widening its presence in various regions such as APAC and North America and increasing its revenue.
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