Pharmaceutical Drugs Packaging to Register Two-fold Revenue Growth In North America | Fact.MR

Advancements in packaging technology such as smart labelling, enhanced dosing techniques, and renewable materials are propelling the pharmaceutical packaging market to grow 2.2X during the forecast period .

Increasing healthcare spending in developed countries and growing preference for convenient packaging solutions, especially among millennials, will propel growth. Market incumbents are investing in expansion strategies and research & development of sustainable packaging materials that comply with stringent government regulations.

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Leading companies from the pharmaceutical packaging market are 

• Amcor Plc
• Becton Dickinson & Company
• AptarGroup Inc.
• Drug Plastics Group
• Gerresheimer AG
• Schott AG
• Owens Illinois Inc.
• West Pharmaceutical Services Inc.
• Berry Global Inc.
• WestRock Company SGD S.A.

Key Takeaways of Pharmaceuticals Packaging Market Study

• Plastics & Polymers will grow 2X during the forecast on the back of increasing adoption of sub-segments such as polypropylene in sustainable packaging practices.
• Primary pharmaceutical packaging is going to grow two-folds between 2019 and 2029. Development of new drugs such as Apelisib (Piqray, Selinexor (Xpovio) will further generate demand for primary packaging.
• Contract packaging will show 2.4X growth through the end of forecast. This is attributable to prevalence of strategic partnership between pharmaceutical companies and packaging manufacturers.
• North American pharmaceutical packaging market exhibits 1.8X growth during the forecast period. Growing geriatric population, coupled with health conscious millennials opting for preventive care, positions this region as a majority shareholder of the total market value.

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“Sustainability is key to growth in pharmaceutical packaging market. Governments are proactively lobbying packaging and product labelling practices and introducing regulations on a frequent basis. Manufacturers stand to gain sustainable growth by curbing environmental pollution from packaging waste. “-Says the Fact.MR Analyst

Manufacturers Leveraging Sustainable Materials at Scale

Aluminum foil packaging will gain increased traction from pharmaceutical drugs such as tablets, and capsules. Excellent recyclability quotient enables broader adoption of aluminum foil packaging. Trends such as convenient dosing and increased product information will engender demand for additional product features and innovation in packaging methods of pharmaceutical drugs. Carbon footprint reduction must be a top priority, manufacturers can start recycling initiatives such as in-store recycling where consumers return used inhalers and other devices.

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Global Pharmaceutical Packaging Market: In-Depth Assessment on Key Segments

The global pharmaceutical packaging market is segmented on the basis of material, product type, application and region.

• By Material :

  • Plastics & Polymers
    • Polypropylene (PP)
    • Polyethylene (PE)
    • Polyethylene Terephthalate (PET)
    • Polyvinyl Chloride (PVC)
    • Polystyrene (PS)
    • Others
  • Paper & Paperboard
  • Glass
  • Aluminum Foil
  • Others

• By Product Type :

  • Primary Pharmaceutical Packaging
    • Plastic Bottles
    • Caps & Closures
    • Parenteral Containers
    • Blister Packs
    • Prefillable Inhalers
    • Pouches
    • Medication Tubes
    • Others
  • Secondary Pharmaceutical Packaging
    • Prescription Containers
    • Pharmaceutical Packaging Accessories
  • Tertiary Pharmaceutical Packaging

• By Application :

  • Pharmaceutical Manufacturing
  • Retail Pharmacy
  • Contract Packaging
  • Institutional Pharmacy
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

For More Insights

https://www.globenewswire.com/news-release/2022/05/11/2440356/0/en/Growing-Demand-from-Prominent-End-Use-industry-to-Enhance-Global-Diacetone-Alcohol-Market-States-Fact-MR.html

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