The global pharmaceutical container market is predicted to be appraised at US$ 180.38 billion by 2032, climbing up from a value of US$ 90 billion in 2022. The market is, thus, slated to expand at a strong CAGR of 7.2% from 2022 to 2032.
Pharmaceutical containers are specially designed to meet the needs of the pharmaceutical sector and include containers like bottles and vials. The growing demand for these bottles and vials for the storage of different pharmaceutical substances like tablets, capsules, solutions, and suspensions as well as to ensure the correct dosage of drugs in a timely manner will likely fuel the growth of the pharmaceutical container market during the forecast period.
Pharmaceutical containers allow for the addition of preservatives which extends the shelf life of the product. The use of these containers also makes transportation easier for medicines and enables the treatment of patients all over the world. These benefits of using pharmaceutical containers augur well for the overall market.
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Again, increasing health consciousness, initiatives by various governmental and non-governmental to generate greater health awareness, and the increasing number of regular check-ups also contribute to the growth of the pharmaceutical container market. Many pharmaceutical firms also permit customization where the size of the container can be personalized and the order can be placed accordingly. This option is expected to have a positive impact on the growth of the pharmaceutical container market.
The prevailing sustainability drives also aid the growth of the pharmaceutical container market. With advancing technology, many firms are working towards developing pharmaceutical containers which could be reduced, reused, and recycled. Reduce implies the presence of non-biodegradable components; reuse means that the containers can be reused and are environmentally friendly; and recycling indicates that if the container is of no use, then it can be recycled instead of polluting the environment. Thus, the reduce, reuse, and recycle features of these containers will further propel the growth of the pharmaceutical containers market during the forecast period.
Key Takeaways:
- Recent interest in Ayurveda may strengthen the growth prospects for the pharmaceutical container market.
- North America is currently the most significant market for pharmaceutical containers due to the strong presence of the pharmaceutical sector.
- Asia Pacific is expected to emerge as the swiftest-growing market for pharmaceutical containers due to growing consumer awareness and favorable government initiatives.
- Plastic bottles and vials pay a crucial role in the pharmaceutical container market as they are easy to transport and difficult to damage
Competitive Landscape
- Amcor plc,
- Becton Dickinson and Company,
- Aptar Group Inc.,
- West Pharmaceutical Services, Inc.,
- Berry Global, Inc.,
- WestRock Company,
- SGD Pharma,
- Drug Plastics Group,
- Gerresheimer AG,
- Schott AG, and
- Owens Illinois,
among others are some of the predominant players in the pharmaceutical container market profiled in the full version of the report.
Leading market players are focusing on entering new markets and introducing and developing new products. These organizations also employ various organic and inorganic strategies to strengthen their market position.
Key Segments Profiled in the Pharmaceutical Containers Market Survey
By Product:
- Bottles
- Standard
- Dispensing
- Jars
- Vials
- Cans
- IV Containers
- Semi Rigid IV Containers
- Premixed IV Mini bags
- Ampoules
- Others
By Material:
- Plastic
- PE
- LDPE
- HDPE
- Polystyrene
- Polycarbonate
- Polypropylene
- PVC
- PET
- Glass
- Type-1
- Type-2
- Type-3
- Others
More Insights into Pharmaceutical Container Market
In its latest report, FMI offers an unbiased analysis of the global pharmaceutical container market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product, material, and region.
According to the same report, based on regional segmentation, the pharmaceutical container market in North America will lead in the international market space. It is closely followed by the European region. During the forecast period, the Asia Pacific region is expected to emerge as one of the quickest-growing markets for pharmaceutical containers. Increasing consumer awareness and initiatives taken by various governments are responsible for the growth of the pharmaceutical container market in this region. Other factors like increasing disposable income of the general population also contribute to the growth of the Asia Pacific pharmaceutical container market.
In short, the convenience and other benefits like damage protection, as well as increasing sustainability drives, and availability of customization options, are considerations that fuel the growth of the global pharmaceutical container market during the forecast period.
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