The global pharmaceutical packaging market is expected to be valued at USD 1,06,202.1 million by 2023

-
The global pharmaceutical packaging market is expected to be valued at USD 1,06,202.1 million by 2023, with a CAGR of 6.51% during the forecast period (2018–2023). The report covers segmentations and drivers for a better glimpse of the market in the coming years. Pharmaceutical packages are used for packaging pharmaceutical products and are manufactured using materials, such as paper and glass. This type of packaging provides uniformity of the drug through different production lots and ample printing space for necessary information regarding the drug’s contents. This assures patient safety and maintains the efficiency of the drug throughout the intended shelf life by preventing contamination.

Competitive Analysis

Some of the prominent players in the global pharmaceutical packaging market are Amcor Limited (Australia) SCHOTT AG (Germany), Owens-Illinois Inc. (US), Sonoco Products Company (US), West Pharmaceutical Services, Inc. (US), WestRock Company (US), Berry Global Inc. (US), CCL Industries, Inc. (Canada), AVERY DENNISON CORPORATION (US) International Paper (US), Comar, LLC (US), Gerresheimer AG (Germany).

Segmental Analysis

The global pharmaceutical packaging market is segmented based on material, type, application, and packaging. On the basis of material, the plastic segment is expected to dominate the global market, as it is a material that can be easily molded into various forms as per the packaging requirements for pharmaceutical substances and equipment, such as capsules, tablets, sterile injections, and solutions and suspensions.
On the basis of type, the bottles segment is expected to dominate the global market. The increasing demand for liquid medicines and rising technological advancements in packaging are some of the factors driving this segment.
On the basis of packaging, the rigid packaging segment is expected to dominate the global market. Rigid packaging protects the products from biological contamination, physical damage, and external influences that can damage the properties of the products.

On the basis of application, the global pharmaceutical packaging market is segmented into generic drugs, branded drugs, medical tools & equipment, test kits, nutraceuticals, and others. The generic drugs segment is expected to hold the maximum market share. 

Regional Analysis

Geographic analysis of the global pharmaceutical packaging market spans across North America, Europe, Asia Pacific (APAC), and the rest of the world.
In 2017, North America was the leading region in the market with a market value of USD 25,070.45 million. The regional market value is expected to reach USD 34,402.60 million by 2023 with an impressive 5.91% CAGR during the forecast period.
In 2017, Asia-Pacific held the second largest market share in the pharmaceutical packaging market. Stringent regulations by the governments of different countries, such as China, Japan, and South Korea for plastic, glass, and paperboard packaging used in pharmaceutical companies create new opportunities for the global market players.
Europe is the fastest growing region in the global pharmaceutical packaging market. It is projected to witness significant growth during the forecast period owing to the new directives set by the European Union (EU) for pharmaceutical packaging. 

Read More :





Comments

Post a Comment

Popular posts from this blog

Digital Printing Packaging Market Expected To Grow Over The CAGR Of Around 10.5% During Forecast To 2023

-
Global Digital Printing Packaging Market expected to experience significant growth in the next five years: Market research future published a raw research report on  Global   Digital Printing Packaging Market that contains the information from 2016 to 2023.  Digital printing packaging market is expected to grow with the CAGR of approximately 10.5% from 2016 to 2023. Taste the market data and market information presented through more than 85 market data tables and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Digital Printing Packaging Market Information from 2016 to 2023 " Access Full Report @  https://www.marketresearchfuture.com/reports/digital-printing-packaging-market-2782 Packaging industry will witness a revolution due to the increasing applications of digital printing. Digital printing for packaging is specifically introduced to attract consumers. Continuously growing
Read more

Latest Trends in the Global Form Fill and Seal Machines Market; MRFR Releases the Forecast - 2023

-
The wide storage capacity offered by form fill seal (FFS) is surging the adoption of its producing machine. This  is expected to be the factor that is likely to boost its market growth. Form fill seal machine is designed to bag a number of products. They form, fill and seal materials in various sizes. They use bag shaking mechanism to ensure optimal filling of bag. The ability of the packaging machine to pack range of sizes is expected to propel the the market growth. Low cost with greater productivity is boosting demand for FSS machines.  Development of automation technologies and their incorporation in FSS machines are increasing their robusteness. This is another important booster that is expected to escalate the market growth.  Form Fill and Seal Machines  can pack both wet and dry type of content. FFS machines can also be used with both liquids and solids. Flexibility provided by these devices is expected to gain traction for the market. Market Research Future (MRFR)I in i
Read more

Car Wash Market Trends, Share, Competitive Dynamics, Demand - Forecast 2027

-
  Global   Car Wash Market , By Type (Tunnels, Roll-Over/In Bay, Self-Service), Process (Cloth Friction Car Washing and Touch Less Car Washing), Component (Drivers, Motors, Foam System, Dryers and Pumps), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027  The persuasive Car Wash market report endows with an all-inclusive knowledge and information of rapidly changing market landscape, what already subsists in the market, future trends or market expectations, the competitive environment, and competitor strategies which assists in planning strategies for Car Wash industry with which it is possible to outdo the competitors. Unsu
Read more