The global pharmaceutical packaging market is anticipated to grow at a significant CAGR of 9.7% during the forecast period. Glass is one of the most commonly utilized packaging materials in the pharmaceutical business because it has low alkalinity and hydrolytic resistance. Glass bottles are predicted to take a substantial proportion of the pharmaceutical packaging market by volume, owing to an expanding variety of applications in both solid and liquid oral pharmaceuticals, since containers provide convenience, safety, and security. Glass containers have a high degree of transparency, allowing for simple inspection of their contents. They also protect since they are largely impervious to air and moisture, and they are chemically resistant to most medicinal agents. Furthermore, pharmaceutical glass and containers are in high demand in highly populated regions such as India and China. Oncology and other high-potency medications (such as antibody conjugates, steroids, and IV fluids with a fast beginning of action) are projected to be the primary growth drivers. Following the outbreak of COVID-19 in December 2019, prominent biotechnology and pharmaceutical companies are working on vaccinations to combat the disease. The increasing COVID-19 vaccine manufacturing by companies such as GlaxoSmithKline plc (GSK), AstraZeneca, Pfizer, Johnson & Johnson, and Moderna has resulted in a large increase in demand for glass-based vials in 2020.
Browse the full report description “Global Pharmaceutical Packaging Market Size, Share & Trends Analysis by Product Type (Primary Packaging and Secondary Packaging), by Material Type (Plastic & Polymers, Paper & Paperboard, Glass, and Metals), and by End-User (Pharmaceutical Manufacturing, Contract Packaging, Retail Pharmacy, and Others) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/pharmaceutical-packaging-market-size
The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launches, and product innovation to remain competitive in the marketplace. For instance, West Pharmaceuticals established its New Digital Technology Center in Bengaluru, India, in March 2019. This Digital Technology Center will enable the West Pharmaceutical team to create compelling digital experiences for their global customer base, source talent from India's rapidly growing technology industry, and bring forward the latest digital advancements to create insights and value for their customers and team members, resulting in improved business results. Further, Tri State Distribution, Inc., a retail pharmaceutical packaging solutions provider, was acquired by CCC Packaging in June 2019. The acquisition was made to broaden the company's pharmaceutical product line and client base.
Market Coverage
Segment Covered-
Regions Covered-
Competitive Landscape- Amcor Ltd., Schott AG, AptarGroup, Inc., Gerresheimer AG, and West Pharmaceutical Services, Inc., among others.
Key questions addressed by the report
oDeviation from the pre-COVID-19 forecast
oMost affected region and segment
Global Pharmaceutical Packaging Market Report Segment
By Product Type
By Material type
By End-User
Global Pharmaceutical Packaging Market Report Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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