Global Pharmaceutical Packaging market is expected to reach 85,368.1 million by 2024 from 51,200.0 million in 2016, at a CAGR of 6.7% in the forecast period 2017 to 2024
The major factors driving the growth of this market are rapid growth of the pharmaceutical industry globally, increasing demand for drug delivery devices & blister packaging; technological advancements are boosting the growth of the global pharmaceutical packaging market. On the other hand, environmental concerns and recycling issues, growing cost of raw materials, stringent regulations set by various governing bodies may hinder the growth of the market.
The key market players for Global Pharmaceutical Packaging market are listed below;
Amcor Limited
Gerresheimer
AG,
Becton,
Dickinson
Company Medtronic
Schott AG,
AptarGroup,
Inc.,
BAUSCH + STR?BEL,
ROBERT BOSCH GMBH
Lonza and DuPont Johnsons & Johnson Services, Inc.
Abbott
The market is further segmented into;
product type,
application,
raw materials and
purchase of organization
The global pharmaceutical packaging market is segmented on the basis of product type, application, raw materials and purchase of organization. The report provides data for 2015 to 2024, 2016 being the current year while 2017 to 2024 is the forecast period for the report.
The global pharmaceutical packaging market is segmented based on product type into plastic bottles, blister packaging, drug delivery devices, labels & accessories, caps & closures, secondary containers, pouches & strips, and others. In 2017, plastic bottles is expected to dominate the pharmaceutical packaging market with 20.6% market share and is expected to reach USD 18,535.8 million by 2024, growing at the highest CAGR of 7.5% in the forecast period 2017 to 2024.
The global pharmaceutical packaging market is segmented on the basis of application into drug delivery, and veterinary vaccines. In 2017, drug delivery is expected to dominate the pharmaceutical packaging market with 78.9% market share and is expected to reach USD 67,785.2 million by 2024, growing at the highest CAGR of 6.8% in the forecast period 2017 to 2024.The drug delivery application is further sub-segmented into oral drugs, injectable, topical, ophthalmic, nasal, pulmonary, transdermal, and others. The veterinary vaccines application is further sub-segmented into livestock vaccines, porcine vaccines, poultry vaccines, canine vaccines, feline vaccines, equine vaccines, aquaculture vaccines, and others.
The global pharmaceutical packaging market is segmented on the basis of raw material into plastics, paper and paper board, metals, glass, and others. In 2017, plastics is expected to dominate the pharmaceutical packaging market with 42.7% market share and is expected to reach USD 37,128.0 million by 2024, growing at the highest CAGR of 7.0% in the forecast period 2017 to 2024.Plastics segment is further sub-segmented into high-density polyethylene, polypropylene, low-density polyethylene, and others.
The global pharmaceutical packaging market is segmented on the basis of purchase organization into manufacturer, packaging companies, and government agencies. In 2017, manufacturer is expected to dominate the pharmaceutical packaging market with 51.5% market share and is expected to reach USD 44,854.1 million by 2024, growing at the highest CAGR of 7.0% in the forecast period 2017 to 2024.
The global pharmaceutical packaging market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Based on geography, the Global Pharmaceutical Packaging Market is segmented into geographical regions, such as,
North- America,
South America
Europe
Asia-Pacific
Middle East and Africa
Covered in this report
The report covers the present scenario and the growth prospects of the Global Pharmaceutical Packaging Market for 2018-2025. To calculate the market size, the report considers the revenue generated from the sales of the web conferencing and unified communication and collaboration (UC&C) and video conferencing, secondary resources and doing in-depth company share analysis of major 10 players in the market.
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