Pharmaceutical Packaging Market 2022 Advancement and Precise Outlook - Amcor Limited, 3M Company, Schott AG, WestRock Company, Berry Global Inc., McKesson Corporation

Market Insights Reports has added new statistical data to its repository titled as, Global Pharmaceutical Packaging Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The Global Pharmaceutical Packaging market report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.

The pharmaceutical packaging market was valued at USD 73.49 billion in 2020 and is expected to reach a value of USD 118.01 billion by 2026 and grow at a CAGR of 8.24%, during the forecast period (2021-2026).

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Top Key Players in the Global Pharmaceutical Packaging Market are Amcor Limited, 3M Company, Schott AG, WestRock Company, Berry Global Inc., McKesson Corporation, AptarGroup Inc., Klöckner Pentaplast Group, CCL Industries Inc., FlexiTuff International Ltd, Gerresheimer AG, West Pharmaceutical Services, Inc., Becton, Dickinson and Company, Vetter Pharma International GmbH, Catalent Inc., W. L. Gore & Associates Inc., PackMaxQ, and others.                                       

Industry News and Update:

- Mar 2019 - West Pharmaceuticals opened New Digital Technology Center in Bengaluru, India. This Digital Technology Center will allow West Pharmaceutical team to create compelling digital experiences for their global customer base, source talent from India's fast-growing technology industry, and bring forward the latest digital advancements to create insights and value for their customers and team members for ultimately delivering better business results.

- April 2019 - SCHOTT invested BRL 50 million in its pharmaceutical tubing production in Rio de Janeiro, as part of its global growth strategy. As the demand in pharmaceutical industries increases, SCHOTT is contributing to manufacture 100% inspection of glass tubing to detect possible defects.

Key Market Trends:

Glass Packaging Hold Significant Market Share

- Glass packaging is one of the primary packaging materials used by the pharmaceutical industry, as it limits the alkalinity and hydrolytic resistance of the glass container. Within the pharmaceutical packaging market, glass bottles are expected to occupy a significant share by volume, driven by an increasing number of applications in both solid and liquid oral medications, as containers provide convenience, safety, and security.
- Glass containers offer high transparency, which allows easy inspection of its contents, and enables protection because it is relatively impermeable to air and moisture and chemical resistance to most of the medicinal products. Moreover, the demand for pharmaceutical glass and containers is majorly from densely populated economies, such as India and China. The growing pharmaceutical production in these countries is further increasing demand.
- Moreover, the increasing demand for injectable pharmaceuticals is significantly driving the growth of glass bottles in the pharmaceutical sector. The robust demand for oncology and other high-potency drugs (such as antibody conjugates, steroids, and IV fluids that require quick onset of action) is expected to be the key growth driver.
- The increasing number of people who have diabetes is significantly supporting the growth of glass bottles for injectable pharmaceuticals. According to the World Health Organization (WHO), around 422 million people have diabetes around the world. The growth in this number increases the demand for penicillin, which is, thereby, contributing to the growth of the market.

North America to Occupy Largest Share

- North America is known for its technological development and product innovations, which is motivating manufacturers to produce high-class packaging solutions for the pharmaceutical industry. Major factors driving the North American pharmaceutical packaging market's growth include the contribution of nanotechnology advancement in manufacturing processes and technological innovation, growing demand for drug delivery devices, and blister packaging to the pharmaceutical packaging market.
- The United States will continue to be the largest national pharmaceutical packaging market as its advanced drug-producing sector commercializes new sophisticated therapies with specialized packaging needs. Advances in pharmaceutical packaging in the country are focused on improving the barrier properties of the packaging material.

Full Browse the report description and TOC:

https://www.marketinsightsreports.com/reports/05202905603/pharmaceutical-packaging-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=A28                             

This Global Pharmaceutical Packaging Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2026

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place.                              

Frequently Asked Questions about Global Pharmaceutical Packaging market:

– What are the recent developments and government policies?
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– Where are the greatest dangers?              

We Also Offer Customization on report based on specific client Requirement:

– Free Country Level analysis for any 5 countries of your choice.

– Free Competitive analysis of any 5 key market players.

–  Free 40 analyst hours to cover any other data point

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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