Global PET Pharmaceutical Packaging Market 2015 to grow at a CAGR of 11.3 % by 2022 : Market Research Store

The Global PET Pharmaceutical Packaging market is estimated at $11.1 billion in 2014 with a CAGR of 11.3% it is expected to reach $26.2 billion by 2022. Rapid growth of pharmaceutical industry and growth in drug delivery devices are the key factors driving the market growth. Market access requirements such as supply-chain planning, manufacturing and distribution can be difficult. The regulatory environment, including taxation and import regimes, can be major barriers to growth, both in terms of working across borders. Challenges in emerging markets and increasing packaging costs are the factors hindering the market growth.

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The opportunity lies in global demand for primary pharmaceutical containers. The quality control unit is responsible for the control of pharmaceutical packaging materials including their receipt, identification, sampling, testing, and approval or rejection of drug product containers and closures. Asia Pacific is estimated to be the leading market for PET Pharmaceutical Packaging due to rapid growth in the industrial use of PET in packaging and labelling applications being witnessed in this region.

Global Pharmaceutical Packaging market is segmented by type, by material and by geography. Based on type, market is segregated into bottles, jars, pouches & strip packs, medical specialty bags and others. Based on Material, market is divided into Paper & Paperboard, Aluminum Foil and Plastics/Polymers. Polyethylene Terephthalate (PET) pharmaceutical packaging market is segregated by type, by size and by material. Market by packaging type is segregated into Bottles, Jars and others. PET Plastic Bottle Packaging by size is divided into 5 ML, 50 ML and others. By material, market is segmented into special requirements and other market trends. Bottles segment is accounted to be the largest segment and Pouches & Strip Packs segment is having the highest market growth.

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The Key players in the market include ITC Ltd., Bayer AG, Akzo Nobel NV, DuPont (EI) de Nemours, Evonik Industries AG, Sappi Ltd, Nippon Paper Group, Inc, Nalco Holding Company, International Paper Company and Mondi PLC.

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