According to a report from Future Market Insights, the global pharmaceutical packaging market is anticipated to witness substantial growth in the coming years. This growth is primarily attributed to the projected increase in pharmaceutical sales, which is driven by a rise in disease prevalence and greater health awareness among the population.
A noteworthy trend in the industry is the development of sustainable and environmentally friendly pharmaceutical packaging. This aligns with the growing emphasis on sustainability and eco-consciousness across various sectors.
Efficient and secure packaging is a key concern for pharmaceutical manufacturers and end users to maintain the integrity of drugs. Reliable packaging options are prioritized to mitigate risks associated with flaws in packaging materials or technology, as such issues can have serious consequences.
Packaging plays a vital role in safeguarding medications from deterioration, spillage, and contamination, thereby extending their shelf life. Various primary packaging options, including bottles, vials, ampoules, and blisters, as well as secondary packaging such as boxes and cartons, are used for pharmaceutical products.
The demand for child-resistant packaging formats has also witnessed significant growth in recent times. This is driven by the need to prevent accidental ingestion of excessive medication by children when their parents are not present.
For More Insights on this Market, Get A Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-6150
As global pharmaceutical manufacturing and consumption continue to rise, the demand for pharmaceutical packaging is expected to increase as well. Future Market Insights predicts ample opportunities for pharmaceutical packaging manufacturers throughout the forecast period, fueled by increased global spending on pharmaceutical products.
Please note that as an AI language model, I don’t possess real-time data or the ability to verify market predictions. It is advisable to refer to the latest industry reports and consult experts for the most accurate and up-to-date information.
Key Takeaways from Pharmaceutical Packaging Market
- By product type, the bottles segment is forecast to hold more than 31.3% of the value share by the end of 2033.
- Based on material type, plastics segment is projected to increase at a CAGR of 7.6% during the forecast period, creating an incremental opportunity of US$ 67.4 billion by the end of 2033.
- North America pharmaceutical packaging market is expected to expand by 2.1x of its current market value through 2033.
- With rising consumption of pharmaceutical products as well as expansion of the pharmaceutical sector, Asia Pacific Excluding Japan (APEJ) market is anticipated to expand by 2.6x of current market value by 2033.
- The USA is forecast to account for around 95.1% share of North America pharmaceutical packaging industry by the end of 2033.
Are you looking for customized information related to the latest trends, drivers, and challenges? @ https://www.futuremarketinsights.com/customization-available/rep-gb-6150
“Growing need for protecting medicinal products from physical, biological, and chemical factors as well as to maintain their integrity is expected to generate lucrative prospects for the global pharmaceutical packaging market during the forecast period. Besides this, development of sustainable pharmaceutical packaging will bode well for the market,” says an FMI analyst.
Rise in Per Capita Healthcare Expenditure to Facilitate Pharmaceutical Packaging Market Expansion
Considering the current scenario as well as the rising awareness about healthcare, investment in the healthcare sector is rising. Consumers are worried about the future as well as their current life which makes them think to invest in the healthcare sector.
Healthcare investment has a positive and direct correlation with the pharmaceutical industry. The pharmaceutical industry accounts for a sizable portion of the investments attracted for the expansion of the country’s economy.
As a result of consumers’ rising concern for their quality of life, there is an increase in the per capita cost of healthcare. The market for pharmaceutical packaging is expected to be positively impacted by rising healthcare spending across the world.
New Biological Drug Formulations Set to Improve Pharmaceutical Packaging Market
Novel biological drug medications are creating various complex challenges for the manufacturers of pharmaceutical packaging. The new pharmaceutical medications require innovative packaging concerning their molecule formulations and their interaction with packaging material. This is prompting manufacturers to develop new packaging formats which suit the new biological drug medications.
The glass vial is a case of a packaging format that is experiencing changes that reflect the market demand. Some novel biologics have properties that delaminate glass, prompting undesirable glass chipping in formulations.
Pharmaceutical packaging companies are currently taking a gander at how vials are framed in the heating procedure so that chipping can be alleviated. Hence, development of new biological drug formulations will trigger innovation in pharmaceutical packaging formats which will eventually boost the overall market.
Key Players:
- Amcor Plc
- Ardagh Group S.A.
- Becton, Dickinson and Company
- Berry Global Group, Inc.
- Bilcare Limited
- Catalent, Inc
- Clondalkin Group Holdings B.V.
Get 20% Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-6150
Pharmaceutical Packaging Industry by Category
By Product Type:
- Bottles
- Packer Bottles
- Liquid Bottles
- Vials & Ampoules
- Blisters
- Bags & Pouches
- Prefilled Syringes & cartridges
- Sachets
- Trays
- Tubes
- Containers, Jars, & Others
By Material Type:
- Plastics
- Polyethylene
- LDPE
- HDPE
- Polyvinyl Chloride
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com