New Research on Pharmaceutical Packaging Market Forecasts Healthy Growth in Next 5 Years

Chicago, IL -- (SBWire) -- 07/07/2017 --According to the report, "Pharmaceutical Packaging Market, by Type (Plastic Bottles, Blister Packs, Labels & Accessories, Caps & Closures, Pre-fillable Syringes, Medical Specialty Bags, Temperature Controlled Packaging, Pouches & Strip Packs, Pre-filled Inhalers, Vials, Ampoules, Medication Tubes, Jars & Canisters, Cartridges), Veterinary Vaccine Packaging (Livestock Vaccines, Porcine Vaccines, Poultry Vaccines, Canine Vaccines, feline Vaccines, Equine Vaccines, Aquaculture Vaccines), Drug Delivery (Oral Drugs, Pulmonary, Transdermal, Injectables, Topical, Nasal, Ocular/Ophthalmic, IV Drugs) (Primary, Secondary, Tertiary), Raw Material (High Density Polyethylene, Polyester, Polypropylene, Low Density Polyethylene, Polyvinyl Chloride, Other Plastics/Polymers, Total Plastics, Paper & Paperboard, Glass, Aluminum Foil) – Global Revenue, Trends, Growth, Share, Size and Forecast to 2022", the market for pharmaceutical packaging is set to grow at an impressive rate during the forecast period.

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Pharmaceutical packaging is crucial as the packaging material protects the drugs from certain factors such as damage, rains or any type of contamination. The pharmaceutical packaging market shall witness growth because of rise in R&D, new innovations in packaging material, generic market growth and rise in trend of contract packaging. The manufacturers are going green and turning towards creating eco-friendly packaging materials which are biodegradable, in order to sort out environmental concerns.

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KEY PREMIUM INDUSTRY INSIGHTS

1. The demand for pharmaceutical packaging is increasing globally. Due to rise in awareness, home care and self-administration, drug delivery devices are gaining popularity. The rise in demand for innovative packaging devices is a major growth factor for the market.

2. The presence of packaging material manufacturers and innovation in manufacturing technologies can lead to market growth. The pharmaceutical packaging industry has to take care of two things – good design and right communication with customers. To ensure that both these aspects are well handled, manufacturers need to must be able to manage various factors such as compliance handling, drug integrity, child-resistant and easy adult accessibility and counterfeiting.

3. While considering all the aforementioned factors, the overall cost of packaging of pharmaceutical products increases. The increased cost and expenses involved in pharmaceutical packaging is a major market restraint. However with advancement in technology the overall cost can be reduced.

The pharmaceutical packaging market is divided into four major geographical segments which are North America, Europe, Asia-Pacific, and the Rest of the World. North America region holds the highest market share. The demand in this region is high because of the new product launches and requirement for specialized packaging material. Next in line is the European Market wherein Germany is expected to aid in market growth because of rise in innovation of new pharmaceutical packaging products. Countries such as India, China, and Japan are offering growth opportunities for the market; as there are a large number of drug manufacturers available in this region. The rise in outsourcing pharmaceutical packaging material to developing countries is one of the drivers for the market growth. In addition, favorable government policies can also boost market demand.

KEY MARKET PLAYERS

Key players in the pharmaceutical packaging market include:

1. Amcor Ltd.
2. Becton, Dickinson and Company
3. Aptargroup, Inc.
4. Capsugel Inc.
5. Gerresheimer AG
6. Schott AG
7. Owens-Illinois, Inc.
8. West Pharmaceutical Services, Inc.
9. Berry Plastics Group, Inc.
10. Westrock Company
11. SGD SA

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