LONDON--(BUSINESS WIRE)--The global pharmaceutical packaging market size is poised to grow by USD 24.7 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 7% during the forecast period.
Read the 120-page research report with TOC on "Pharmaceutical Packaging Market Analysis Report by packaging (primary and secondary), products (plastic bottles, caps and closures, blister packs, pre-fillable syringes, parenteral containers, pre-fillable inhalers, pouches, medication tubes, and other products), and materials (rigid plastic, flexible plastic, glass, and other materials) and geography (APAC, Europe, MEA, North America, and South America) 2019 - 2023" at: Request a Free Sample Report
The market is driven by the increasing number of drugs approved by the FDA. Also, the rise in global pharmaceutical sales is anticipated to boost the growth of the pharmaceutical packaging market.
The demand for pharmaceutical packaging is expected to grow significantly in the coming years, owing to the increasing number of drugs approved by the FDA. Vendors in the pharmaceutical packaging market are flexible in accommodating new product packaging and can easily convert their existing packaging setup for new products. Thus, the increase in drug approvals will fuel the overall pharmaceutical packaging market during the forecast period.
The sale of pharmaceuticals that include prescription drugs and over-the-counter drugs has increased significantly over the years. This is mainly due to the growing numbers of the geriatric population and new product launches by pharmaceutical manufacturers. Moreover, factors such as increasing health awareness and growing medicinal knowledge of people through the Internet are increasing the sale of over-the-counter drugs. Thus, the growth in pharmaceutical sales will drive the demand for pharmaceutical packaging during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- West Pharmaceutical Services
- WestRock Company
Market Segmentation by Materials:
The pharmaceutical packaging market can be broadly categorized into the following segments:
- Rigid plastic
- Flexible plastic
- Other materials
Key Regions for the pharmaceutical packaging Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
Market segmentation analysis
- Market definition
Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports on Metal & Glass Containers are:
Flexible Plastic Packaging Market – Global Flexible Plastic Packaging Market by product (pouches, bags, films and wraps, and others), end-users (food and beverages, healthcare, and others), and geography (APAC, Europe, MEA, North America, and South America).
Packaging Market – Global Packaging Market by type (board packaging, rigid plastic packaging, flexible packaging, metal packaging, and glass packaging), end-users (food, beverage, healthcare, personal care, and others), and geography (APAC, Europe, MEA, North America, and South America).
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