Madurai News

Global Demand for Pharmaceutical Packaging to Grow at 7.5% CAGR by 2029: Fact.MR Report

 Breaking News
  • No posts were found

Global Demand for Pharmaceutical Packaging to Grow at 7.5% CAGR by 2029: Fact.MR Report

June 22
12:40 2021
Pharmaceutical Packaging Market report by Fact.MR
Pharmaceutical Packaging Market – China, U.S. and Russia are the top 3 leading exporters of pharmaceutical packaging globally.

Advancements in packaging technology such as smart labelling, enhanced dosing techniques, and renewable materials are propelling the growth of pharmaceutical packaging market by 2.2X during the forecast period (2019-2029).

 

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.

 

In February 2019, European Union (EU) mandated the serialization of pharmaceutical drugs to improve tracking of pharmaceuticals and curb counterfeiting activities.

 

Request a Report Sample to gain Comprehensive Insights at 
https://www.factmr.com/connectus/sample?flag=S&rep_id=4573

 

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.

 

global pharmaceutical packaging market 01

 

“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

 

Get Customization on this Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=4537

 

Manufacturers Leveraging Sustainable Materials at Scale

Aluminium foil packaging will gain increased traction from pharmaceutical drugs such as tablets, and capsules. Excellent recyclability quotient enables broader adoption of aluminium 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. Biologics and other customized medicine trends will propagate niche pharmaceutical packaging during the forecast period. Market players must be vigilant about development of these trends to capitalize on remunerative growth opportunities.

 

Find More Valuable Insights on Pharmaceutical Packaging Market

Fact.MR, in its new offering, provides an in-depth analysis of the global pharmaceutical packaging market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the pharmaceutical packaging market on the basis of material (Plastics & Polymers (Polypropylene, Polyethylene, Polyethylene Terephthalate, Polyvinyl Chloride, Polystyrene, and Others), Paper & Paperboard, Glass, Aluminium Foil, and Others), product type (Primary (Plastic bottles, Caps & Capsules, Parenteral Containers, Blister Packs, Refillable Inhalers, Pouches, Medication Tubes, and Others), Secondary (Prescription containers, pharmaceuticals packaging Accessories), Tertiary), Application (Pharmaceutical manufacturing, retail pharmacy, contract packaging, institutional pharmacy, and Others), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).

 

For in-depth Competitive Analysis, Buy Now
https://www.factmr.com/checkout/4573

 

About the Chemicals & Materials Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs across the value chain. With an exhaustive database of over 1,000 reports and 1 million plus data points, the team has analyzed a number of chemicals and materials lucidly in 50+ countries for over a decade.

 

About Us:

 

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

 

Contact:

Neha Bhosle

US Sales Office:

11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:

Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: [email protected]

Media Contact
Company Name: Fact.MR
Contact Person: Neha Bhosle
Email: Send Email
Phone: 16282511583
Address:11140 Rockville Pike Suite 400
City: Rockville
State: Maryland
Country: United States
Website: https://www.factmr.com

Categories