Pharmaceutical Packaging Market: Size, Share, Growth, Analysis, Key Players, Revenue, | Valuates Reports

Pharmaceutical Packaging Market Outlook 2027
The global pharmaceutical packaging market accounted for $ 88,880 million in 2019 and is expected to reach $ 144,233 million by 2027, registering a Compound Annual Growth Rate (CAGR) of 6.1% from 2020 to 2027. Factors such as advanced manufacturing processes to develop sustainable and eco-friendly packaging solutions, increase in product innovations, and merger & acquisition to support new demands. In addition, serialized tracking & tracing of drugs, emerging generic drug market, rapidly growing drug delivery market, increase in R&D activities and use of innovative packaging drive the growth of the pharmaceutical packaging market.

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Packaging is an integral part of pharmaceutical products. Packaging is often involved in dispensing, dosing, and use of pharmaceutical products. Communication of proper use and cautionary labels are also regulated. There are several different types of packaging for a pharmaceutical product, which are classified as primary, secondary, and tertiary. Primary drug packaging is the material that surrounds the pharmaceutical product, while secondary and tertiary packaging provides additional external protection. One of the most important functions of packaging is to shield products from the damaging effects of the external environment. Many formulations become unstable when exposed to air, moisture, or light, and therefore protection from these factors is necessary to ensure medicines remain effective and safe.
The market is expected to witness a significant growth during the forecast period. The growth can be attributed to advanced manufacturing processes to develop sustainable and eco-friendly packaging solutions and product innovations, increase in product innovations and merger & acquisition to support new demands. In addition, serialized tracking and & tracing of drugs, emerging generic drug market, rapidly growing drug delivery market, and increase in R&D and use of innovative packaging drive the growth of the pharmaceutical packaging market.
However, price volatility of raw materials, stringent government regulations and standard can also restrain growth of the pharmaceutical packaging market. On the contrary, advancement in the biotechnology sector results in the introduction of new parenteral therapies, increase in demand for innovative packaging products, and growing use of the smart packaging for patient engagement & identification. In addition, increase in patient-oriented medicines including biologics is expected to uplift the market growth of the pharmaceutical packaging market during the forecast period.
Furthermore, pandemic crisis results in lack of workforce, transportation restrictions, and shortage in raw materials and implementation of lockdown across the globe, which hamper the supply of products. Moreover, after vaccine approval, if these vaccines rely on different administration routes (e.g., inhaled, oral, transdermal, and injectable), then demand for primary packaging can be extended across multiple packaging formats. Therefore, COVID-19 is expected to propel the growth of pharmaceutical packaging during the forecast period.
Pharmaceutical Packaging Market Segmentation
The global pharmaceutical packaging market is segmented on the basis of product and region. By product, it is divided into parenteral containers, plastic bottles, blister packaging, closures, specialty bags, labels, and others. . Based on material the market is divided into glass, aluminum foils, plastics, and polymers, paper & paperboards, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Pharmaceutical Packaging Market Segment Analysis
On the basis of product type, the plastic bottles segment is accounted to dominate the market share in 2019. As plastic bottles have always been the preferred mode of packaging tablets and capsules. Wide usage of plastic bottles for packaging liquid dosages, like syrups, nasal, and ophthalmic medications. The advantage of a plastic bottle is that pharmaceutical manufacturers can place more tablets in bottles more efficiently and cost-effectively. Further, the parenteral containers segment is expected to propel market growth as plastic is slowly being eliminated from the parenteral packaging ecosystem. Companies are shifting toward prefilled and ready-to-use containers and this is expected to augment the usability of parenteral products in self-medication.

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Pharmaceutical Packaging Market Segments
• By Product
o Plastic Bottle
o Parenteral Container
o Blister packing
o Specialty Bags
o Closures
o Labels
o Others
• Material type:
o Glass
o Aluminum Foils
o Plastics and Polymers
o Paper & Paperboards
o Others

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