The global pharmaceutical packaging market is expected to witness significant growth during the forecast period 2023-2030, with a projected CAGR of 14.9%. The market is driven by factors such as the expansion of the pharmaceutical industry, increasing adoption of serialization and aggregation requirements, technical advancements in packaging, and the rising trend of contract packaging in medicines. The growing healthcare and pharmaceutical sectors, coupled with government initiatives and investment in medication development and technology innovation, are expected to further fuel market growth.
However, the pharmaceutical packaging industry faces challenges in emerging markets due to barriers like poverty, lack of healthcare access, and outdated infrastructure. These obstacles hinder market growth, particularly in countries like India, South Africa, and Brazil.
The COVID-19 pandemic had a significant impact on the healthcare and pharmaceutical industries, causing disruptions in the supply chain, infrastructure, and availability of essential pharmaceuticals. However, the industry is gradually recovering and adapting to the new normal.
Key recent developments in the pharmaceutical packaging market include collaborations and partnerships between companies to create sustainable packaging solutions, advancements in heat seal coatings for medical grade packaging, and the introduction of new ready-to-use solution platforms.
The market is segmented by material (plastics, paper & paperboard, glass, metal, and others), drug delivery (oral drugs, injectables, topical, ocular/ophthalmic, nasal, pulmonary, transdermal, IV drugs, and others), and type of packaging (plastic bottles, blister packs, labels & accessories, caps & closures, pre-filled syringes, medical specialty bags, temp controlled packaging, and pouches & strip packs). Plastic bottles dominate the market share due to their versatility and suitability for various applications.
North America currently leads the global pharmaceutical packaging market, driven by a strong pharmaceutical production base and investments in sustainable packaging technologies. The Asia-Pacific region is expected to witness substantial growth due to the expanding pharmaceutical sector, increasing health awareness, regulatory standards, and population health management initiatives.
Key players in the pharmaceutical packaging market include Schott AG, Amcor PLC, AptarGroup, Inc., West Pharmaceutical Services, Inc., Berry Global, Gerresheimer AG, Catalent, Inc., and WestRock. Overall, the pharmaceutical packaging market is poised for significant growth, driven by the increasing demand for safe and efficient packaging solutions in the pharmaceutical industry.
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