Pharmaceutical Packaging Market - Industry Insights, Trends, and Forecast, 2017-25

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Pharmaceutical Packaging Market- Global Industry
Insight, Trends, Outlook, and Opportunity
Analysis 2017-2025

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REPORT DESCRIPTION
Pharmaceutical Packaging Market Overview
Pharmaceutical packaging, also known as drug
packaging, involves activities from
pharmaceutical production to distribution to the
end user, through the distribution channels.
Technological advancements, rise in demand for
devices of drug delivery, increasing demand for
eco-friendly and reusable packaging, rapid
development in healthcare services coupled with
rapid urbanization especially in the emerging
economies such as India, and China are some of
the major factors responsible for the growth of
the pharmaceutical packaging market at the global
level. However, fluctuating prices of the raw
materials used for the manufacturing of
pharmaceutical packaging products is one of the
major factors restraining the growth of the
market currently. However, the impact of this
restraint is expected to remain medium throughout
the forecast period. Sale of counterfeit
medicines is another major factor that is
hindering the growth of the market at present.
Asia Pacific accounts for a large share for the
sale of counterfeit medicines. Counterfeiters use
regular packaging for the sale of counterfeit
medicines, which is greatly hindering the growth
of the pharmaceutical packaging market in the
region.
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REPORT DESCRIPTION
North America dominated the pharmaceutical
packaging equipment market in 2016, accounting
for a market share of over 40 and is expected to
retain its position throughout the forecast
period. U.S. is the major contributor to the
growth of this market and is expected to project
a strong growth during the forecast period on
account of frequent product launches by the major
manufacturers in the field of pharmaceutical
packaging. Furthermore, large presence of major
manufacturers operating in the pharmaceutical
industry such as Pfizer are creating huge
opportunities for the manufacturers of
pharmaceutical packaging in the country, which in
turn is augmenting the growth of this market in
North America. Asia Pacific market is expected
to project the highest CAGR of 10.37 during the
forecast period due to growing urbanization and
rising demand for healthcare services. India,
Australia, China, South Korea and Japan are some
major economies contributing to the growth of
pharmaceutical packaging market in this
region. On the basis of material, plastics and
polymers segment dominated the pharmaceutical
packaging market in 2016, with a revenue of US
34.68 billion in the same year. Availability of
numerous grades for plastic, easy handling due to
light weight and its property of being chemically
inert are some of the major factors responsible
for the large market share of this
segment. Request sample Copy of this
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REPORT DESCRIPTION
Among the end users of pharmaceutical packaging,
the pharmaceutical manufacturing segment
dominated the market in 2016, and is expected to
lead the market throughout the forecast period.
However, contract packaging is expected to have
rapid growth due to increasing number of
manufacturing facilities, especially in the
developing countries coupled with increasing
efforts taken up by the manufacturers in order to
minimize costs and maximize product
development. North America led the
pharmaceutical packaging market in 2016 and is
expected to retain market dominance throughout
the forecast period. However, Asia Pacific is
anticipated to exhibit the fastest growth in the
pharmaceutical packaging market during the
forecast period. Major Players in Global
Pharmaceutical Packaging Market Major players
operating in the market of pharmaceutical
packaging include Amcor Limited, Berry Plastics
Corporation, MeadWestvaco Corporation, Becton
Dickinson and Company, Owens-Illinois Inc., West
Pharmaceuticals Services Inc., Schott
Pharmaceuticals Services Inc., RPC Group Plc and
Graphic Packaging International Inc. Request For
Customization _at_ https//www.coherentmarketinsights
.com/insight/request-customization/891
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