According to MRFR analysis, the global Pharmaceutical Packaging Market is expected to register a CAGR of 9.5% from 2022 to 2030 and hold a value of over USD 265.17 Billion by 2030.
Pharmaceutical packaging is a vital segment of the packaging industry as protecting, preserving, and storing several pharmaceutical products such as drugs, medications, and others are inevitable. Pharmaceutical packaging is complete from plastic, glass, metal, and paper. Pharmaceutical packaging not only guards the product but also works as an information provider as well as a tool of advertisement. The impact is of COVID vulnerable on the whole world. The movement of lockdown and shutdown stuck manufacturing. The majority of the manufacturing units experienced closure. A change in consumer behavior was noticeable. The supply chain process was interrupted. COVID led to the downfall of trade activities. The market is also coping with the Covid effects and gaining back its position.
North America dominated the market with a revenue share during the forecast period. Pharma manufacturing, which includes in-house production, was the largest end-use segment in the region in 2021.
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Asia Pacific is expected to register the fastest CAGR of 12.9% from 2021 to 2030. Rising health awareness among consumers in the Asia Pacific, especially in developing countries including China and India, coupled with increasing disposable income levels, is expected to boost the growth of the pharmaceutical industry over the forecast period.
Europe is anticipated to witness considerable growth over the forecast period due to the increasing research & development activities and the introduction of new medicines aimed at improving patient health and their quality of life.
The Global Pharmaceutical Packaging Market has been segmented into Material and product
Based on Material, The Global Pharmaceutical Packaging Market has been segmented into Plastics & Polymers, and Glass. Plastics and polymers held the largest revenue share of over 35.0% in 2021. Numerous types of plastic resins including PE, PET, PP, PVC, PS, and bioplastic are extensively used for manufacturing pharmaceutical vials, bottles, closures, syringes, pouches, sachets, cartridges, tubes, and blister packs.
Based on Product, The Global Pharmaceutical Packaging Market has been segmented into Primary, Secondary. The primary segment accounted for the largest share of over 70.0% in 2021 and is likely to retain its leading position over the estimated period. Primary packaging such as bottles, tubes, or blister packs directly comes in contact with the drug and thereby envelopes the drug and shields it from contamination.
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Some of the key market players are Amcor Plc of Switzerland, AptarGroup Inc. of the United States, Berry Global of the United States, Schott AG of Germany, and CCL Industries of Canada.
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