Factors such as the launch of new drugs, extensive government initiatives to promote innovation in the pharmaceutical industry, along with a rise in the demand for packaging from the BRIC (Brazil, Russia, India, China) countries, and growth in the non-communicable diseases such as chronic diseases in developing economies are projected to escalate the demand for pharmaceutical packaging in the forecast period. According to WHO, noncommunicable diseases (NCDs) kill 41 million people each year, equivalent to 71% of all deaths globally.
Pharmaceutical Packaging refers to packages and the packaging processes for pharmaceutical preparations and involves all the operations from production to drug distribution to the end consumer. Due to the current pandemic of COVID-19 the demand for pharmaceutical packaging has resulted into an increase in the demand for sterile and antiviral packaging because of associated risk of transmission of the virus through packaging surfaces. Apart from this, a boost in the demand for the pharmaceuticals by the increasing geriatric population in the developed economies is further anticipated to stimulate the demand for pharmaceutical packaging in the forthcoming years.
“Global Pharmaceutical Packaging Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Pharmaceutical Packaging providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go-to-Market Strategies and identifying the blue ocean for its offerings.
According to MarkNtel Advisors’ research report titled “Global Pharmaceutical Packaging Market Analysis, 2020”, the Global Pharmaceutical Packaging market is anticipated to grow at a CAGR of around 5.8% during 2020-25. Based on drug delivery, oral drug delivery accounted the significant market share in the Global Pharmaceutical Packaging market in 2019, largely owing to an increase in the cases of communicable diseases, a surge in the incidences of chronic diseases, improving standards of patient conformity, and relocation of drugs using advanced oral delivery systems.
North America Captured the Majority Market Share
North America acquired the highest market share in the Global Pharmaceutical Packaging market in 2019 due to the rise in the aging population and chronic disease patients, growth in the demand for generic drugs, and better access to healthcare coverage by the government, which are leading to a growing demand for larger number of pharmaceutical drugs. According to the Food and Drug Administration (FDA), 9 out of 10 prescriptions filled are for generic drugs in the US. Moreover, the rising rate of approval for the generic drugs by the FDA is projected to act as a lucrative growth opportunity for pharmaceutical packaging in the forthcoming years.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Pharmaceutical Packaging market are Amcor, Berry, Schott, West Pharmaceutical, Gerresheimer, Drug Plastics, West Rock, SGD, Comar, CCL, Nipro etc. To strengthen their foothold in the Pharmaceutical Packaging market, the companies are expanding their facilities in different countries in order to increase their presence worldwide. Thus, it would give a competitive edge to these companies with other market competitors.
Moreover, companies are also coming up with the new packaging product in order to boost their market share in the pharmaceutical packaging market.
1. By Type (Plastic Bottles, Blisters, Bags & Pouches, Vial & Cartridges, Ampoules, Others (Prefilled Syringe, etc.))
2. By Drug Delivery Mode (Oral Drug, Transdermal Drug, Topical Drug, Pulmonary Drug, Injectable Packaging, Nasal Drug, Ocular Drug, Others (IV Drugs. etc.))
3. By Material (Plastics & Polymer (Polyethylene, Low Density Polyethylene, High Density Polyethylene, Polyvinyl chloride, Polyethylene terephthalate, Polypropylene, Polystyrene, Others (Polycarbonate, etc.), Glass, Paper, Metal)
4. By End-User (Pharmaceutical Manufacturing, Contract Packaging)
5. By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
6. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, France, Spain, China, Japan, South Korea, India, South-East Asia, Australia, UAE, Egypt, Saudi Arabia, South Africa),
7. By Company (Amcor, Berry, Schott, West Pharmaceutical, Gerresheimer, Drug Plastics, West Rock, SGD, Comar, CCL, Nipro, etc.)
Key questions answered in the study:
1. What are the current and future trends of the Pharmaceutical Packaging industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Pharmaceutical Packaging industry?
5. What is the customer orientation, purchase behavior, and expectations from the Pharmaceutical Packaging firms across various regions?