Thursday 21 February 2019

Pharmaceutical Packaging Market Trends, Market Size, Growth, And Forecast by 2024

With advancements in technology and growth in the pharmaceutical industry, the demand for pharmaceutical packaging solutions has risen considerably in recent years. This growth in the global pharmaceutical packaging market is also driven by the rise in personal income and increase in public awareness about the benefits of a healthy lifestyle. Furthermore, eco-friendly packing solutions are gaining traction in the market.

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the pharmaceutical packaging market is categorized into plastic bottles, blister packs, and vials. Among these, plastic bottles occupy a significant share in the market, as they are lightweight, less prone to breakage, and easy to manufacture. Furthermore, these bottles help protect the drugs in extreme weather conditions, such as rain and snow. These bottles are generally used for the packaging of oral drugs and are mainly purchased in bulk. Besides, the market for blister packs is witnessing growth, owing to their ease of use as per the unit dosage. In addition, they ensure the safety of medicines during transit.

the market is classified into oral, pulmonary, transdermal, injectable, topical, nasal, and ocular drugs. Among these, the oral drug category is anticipated to dominate the pharmaceutical packaging market during the forecast period, owing to the fact that oral delivery is considered not only the easiest method of drug delivery but also the most efficient. Besides, the packaging market for injectable drugs is expected to witness considerable growth owing to the increase in cases of cancer and diabetes, wherein injectables are majorly used for patient treatment.

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Geographically, the pharmaceutical packaging market is classified into North America, Europe, Asia-Pacific (APAC), Latin America, and the Middle East and Africa. Of these, North America accounts for the largest share in the market, as the per capita income spending on healthcare in the region is comparatively high. Furthermore, the average age of population in the region is high, which continues to fuel the demand for medicines and, in turn, drive the growth of the pharmaceutical packaging industry.

Some of the prominent players operating in the global pharmaceutical packaging market are Amcor Group GmbH, CCL Industries Inc., Ball Corporation, Gerresheimer AG, SCHOTT AG, AptarGroup Inc., Lonza Group Ltd., IntraPac International LLC, Wihuri Group, and Sonoco Products Company.

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