Princeton, NJ -- (SBWIRE) -- 05/24/2018 -- The Global Pharmaceutical Packaging Market was valued at USD 62.754 billion in 2017 and is projected to reach a value of USD 100.76 billion by the end of 2023, at a CAGR of 8.21% over the forecast period, 2018-2023.

Pharmaceutical packaging prevents complex pharmaceuticals from contamination with external toxins and microbial activities, to ensure safety, and simultaneously extend the shelf life of the products. Drug manufacturers are bound by international compliance jurisdictions enforced by regulatory authorities, which maintain that packaging is a crucial element in the process of drug delivery up until the final point of purchase. Several raw materials such as glass, plastic resins, paper and paperboard and aluminum find application in the production of pharmaceutical packaging, in the form of bottles, containers, blister packs, caps, closures, syringes, and tubes.

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Nanotechnology Is Expected To Have A Profound Impact On The Packaging Market

Nanotechnology has created a significant impact on the drug delivery industry, with its ability to control molecules and supramolecular structures in the process of developing medical devices with automatic functions. Conventional nanoparticles, polymeric micelles, and liposomes are called nano-vehicles and are used in a wide area of medication. The advent of new drug delivery systems and the development of new biochemical compounds have resulted in a need for enhanced protection against factors such as moisture, light, oxygen, and mechanical forces, but also for packaging forms to play a more integral role in the drug delivery process.

Plastics Are the Most Pre-Dominantly Used Raw Material in The Pharmaceutical Packaging

Plastic has exceptional barrier properties, is chemically inert, and can be used to create attractive packages with aesthetic appeal that helps in the marketing and promotion of the drug. Though environmental concerns are growing, and more countries are formulating strict regulations for the use of plastic for packaging, the advent of effective recycling procedures is enabling the material to stay relevant in the market. The concerns about the chemical properties are challenging the growth of plastic as a primary packaging material. Plastic bottles will continue to have the highest market share among primary pharmaceutical containers, reflecting the heavy use in the bulk and prescription dose packaging of oral ethical drugs and the packaging of solid dose oral and over-the-counter medicines in large quantities.

North America Occupied Major Market Share in the Global Pharmaceutical Packaging Market

The United States Pharmaceutical Packaging Market is a major contributor to the nation's overall economy. Advances in pharmaceutical packaging in the US are focused on improving the barrier properties of the packaging material. There is a need for constant innovation in the market in the US, as stringent regulations by agencies such as the FDA require the manufacturers to comply with stringent regulations while packaging of drugs in the region. The United States accounts for a majority of the market demand in the region, while Canada plays second fiddle to a highly dynamic market scenario.

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Leading Companies in the Global Pharmaceutical Packaging Market:

Amcor Group, CCL Industries, Rexam PLC, Gerresheimer AG, Aptar Group, Inc., Becton Dickinson & Company, Schott AG, West Pharmaceutical Services, Inc., Intrapac Group, MeadWestvaco Corporation, Klockner Pentaplast, Capsugel Inc., Wihuri Group, Nypro Group, Sonoco Products Company

Key Developments in the Market
July 2017- Corning Incorporated and Gerresheimer have collaborated to provide Corning Valor Glass to the pharmaceutical industry. Valor Glass provides better protection for drug products.

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Reasons to Purchase this Report
Impact of integration of protective technologies and the evolution of nanotechnology on the pharmaceutical packaging market
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The growth of various types of packaging such as blister packs, pouches, tubes, syringes
Regional analysis of the market
Identify the latest developments, market shares and strategies employed by the major market players.
Three months analyst supports along with the Market Estimate sheet in excel.

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