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Pharmaceutical Packaging Market Size Worth $188.79 Billion By 2027 Owing To Growing Pharmaceutical Industry Across The Globe | Grand View Research, Inc.

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Pharmaceutical Packaging Market Size Worth $188.79 Billion By 2027 Owing To Growing Pharmaceutical Industry Across The Globe | Grand View Research, Inc.

April 27
21:09 2021
Pharmaceutical Packaging Market Size Worth $188.79 Billion By 2027 Owing To Growing Pharmaceutical Industry Across The Globe | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, the growth of the market is attributed to the rising pharmaceutical industry owing to the COVID-19 pandemic along with increasing population, growing disposable income in growing economies such as India, China, and Brazil. The COVID-19 pandemic caused raw material and laborers shortage, as well as disruption in production supply. However, due to the government’s funding the pharmaceutical packaging industry remained unaffected.

The global pharmaceutical packaging market size is projected to be valued at USD 188.79 billion by 2027, exhibiting a CAGR of 8.5% over the forecast period. The pharmaceutical packaging market is expected to be driven by the factors such as drug discovery and increasing demand for over-the-counter (OTC) medication. Other factors expected to positively impact the growth of the market include population growth, improved healthcare facilities, and improved access to healthcare for a large number of people, especially in developing countries. Furthermore, the growing prevalence of chronic diseases, along with an aging population, is projected to drive business growth over the forecast period.

Furthermore, with a greater emphasis on recycling, it is projected that the use of recyclable and biodegradable materials in the pharmaceutical packaging market will increase, and this will play an important role in the coming years. The rising demand for compact packaging that makes dosage management simpler is expected to boost the pharmaceutical packaging industry’s growth. 

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Pharmaceutical Packaging Market Report Highlights

 On the basis of material, the plastics and polymers segment emerged as the largest material segment in the pharmaceutical packaging market, accounting for a revenue share of 38.31% in 2019. Plastics and polymers are preferred for packaging pharmaceutical products, owing to their low cost, lightweight, strength, and good barrier properties.

 The glass material segment accounted for a revenue share of 17.18% in 2019. It is used for manufacturing containers that are used for packing pharmaceutical products including parenteral, and non-parenteral preparations as well as pharmaceutical powders among others.

 Based on products, the primary pharmaceutical packaging product segment is anticipated to register the fastest CAGR of 8.8% over the forecast period. Primary packaging plays an important role in pharmaceuticals as this packaging is in direct contact with the medicine.

 From the end-use standpoint, the contract packaging segment is anticipated to register the fastest CAGR of 9.3% over the forecast period owing to the growing focus on outsourcing the packaging activities in order to save expenses and time.

 In January 2020, Origin Pharma Packaging launched a child-resistant jar for the medicinal cannabis industry.

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Pharmaceutical Packaging Market Segmentation

Grand View Research has segmented the global pharmaceutical packaging market on the basis of material, product, end use, and region:

Pharmaceutical Packaging Material Outlook (Revenue, USD Million, 2016 – 2027)

  • Plastics & Polymers

    • Polypropylene (PP)

    • Polyethylene (PE)

    • Polyethylene Terephthalate (PET)

    • Polyvinyl Chloride (PVC)

    • Polystyrene (PS)

    • Others

  • Paper & Paperboard

  • Glass

  • Aluminum Foil

  • Others

Pharmaceutical Packaging Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Primary Pharmaceutical Packaging

    • Plastic Bottles

    • Caps & Closures

    • Parenteral Containers

    • Blister Packs

    • Prefillable Inhalers

    • Pouches

    • Medication Tubes

    • Others

  • Secondary Pharmaceutical Packaging

    • Prescription Containers

    • Pharmaceutical Packaging Accessories

  • Tertiary Pharmaceutical Packaging

Pharmaceutical Packaging End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Pharmaceutical Manufacturing

  • Retail Pharmacy

  • Contract Packaging

  • Institutional Pharmacy

  • Others

Pharmaceutical Packaging Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Russia

    • Turkey

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East and Africa

    • Egypt

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About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

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Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
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Country: United States

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