Pharmaceutical Packaging Market to Surpass $158 Billion by 2029

[Redding, California, February 26, 2024] - Meticulous Research®, a pioneering global market research firm renowned for its insightful analyses, has unveiled its latest research report titled, 'Pharmaceutical Packaging Market: Shaping the Future of Healthcare Delivery.' This comprehensive study forecasts that the pharmaceutical packaging market will soar to a staggering $158.14 billion by 2029, representing a robust CAGR of 7.6% from 2022 to 2029.

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The pharmaceutical packaging landscape is witnessing unprecedented growth, fueled by a confluence of factors including groundbreaking technological advancements in blister packaging, burgeoning pharmaceutical production, and the widespread implementation of serialization and aggregation regulations on a global scale.

Moreover, the emergence of pharmaceutical manufacturing hubs in developing nations coupled with the resurgence of pharmaceutical production in developed economies presents lucrative growth opportunities within this dynamic market.

Pharmaceutical Packaging Market: Future Outlook
The pharmaceutical packaging market is segmented based on Type (Bottles, Parenteral Containers, Blister Packs, Pre-Fillable Inhalers, Pouches & Sachets, Ampoules, Pre-Filled Syringes & Cartridges, Vials, Jars & Canisters, and Other Types), Material (Plastics & Polymers [Polyethylene, Polyvinyl Chloride, Polypropylene, Polystyrene, Polyethylene Terephthalate, Other Polymers], Paper & Paperboard, Glass, Metal, and Other Materials), Dosage Form (Oral, Parenteral, Topical, and Other Dosage Forms), End User (Pharmaceutical Manufacturing Companies, Contract Manufacturing Organizations, and Pharmacies) and Geography.

Based on type, in 2022, the bottles segment is estimated to emerge as the largest revenue-generating segment. Bottling is the most opted method in pharmaceutical packaging. Bottles are ideal for the oral administration of syrups, solutions, and suspensions, particularly for products with adapted dosages; these bottles come with spoons, pipettes, and measuring cups for administering dosages according to body weight. Bottles are also good for storing capsules & tablets and keeping them out of reach from children. Hence, these benefits offered by bottles contribute to the large market share of this segment.

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Based on material, in 2022, the plastic & polymers segment is expected to emerge as the largest revenue-generating segment. The materials used for pharmaceutical packaging must be chemically inert, have low water vapor permeability, and be easy to handle. Since the packaging materials come in direct contact with medications and biological agents, they must adhere to strict regulations from regulatory bodies. Plastics & polymers meet these requirements; thus, they are widely used in pharmaceutical packaging.

Based on dosage form, the pharmaceutical packaging market is segmented into oral, parenteral, topical, and other dosage forms (nasal and ocular). In 2022, the oral segment is estimated to emerge as the largest revenue-generating segment. The high production volume of oral dosages compared to other dosage forms is attributed to the benefits of oral dosages, such as ease of usage and increased patient compliance.

Based on end user, the contract manufacturing organizations segment is slated to register the highest growth rate during the forecast period. Factors such as the complex manufacturing requirements of the pharmaceutical industry, increasing investments in pharmaceutical R&D, the pharmaceutical industry's growing inclination towards the use of cutting-edge technologies, patent expiration, and the outbreak of the COVID-19 pandemic contribute to the adoption of contract manufacturing among pharmaceutical companies, subsequently driving the demand for packaging.

Geographical Insights
A comprehensive geographical analysis spanning North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa elucidates distinct market trends and growth trajectories. Notably, Asia-Pacific is poised to exhibit the highest growth rate during the forecast period, driven by escalating production capacities, surging generic drug manufacturing, and burgeoning foreign investments in the pharmaceutical domain.

Quick Buy - Pharmaceutical Packaging Market - Global Opportunity Analysis and Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/28241997

Leading Market Players
The pharmaceutical packaging market is characterized by the presence of key players at the forefront of innovation and excellence. Notable industry stalwarts including Amcor plc, Gerresheimer AG, Schott AG, AptarGroup, Inc., Berry Global, Inc., Catalent, Inc., O-I Glass, Inc., West Pharmaceutical Services, Inc., NIPRO CORPORATION, and Vetter Pharma International GmbH continue to shape the market landscape through pioneering solutions and strategic collaborations.

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This release was published on openPR.