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Pharmaceutical Packaging Market

Pharmaceutical Packaging Market

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Pharmaceutical Packaging Market

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  1. Pharmaceutical Packaging Market Demand, Size, Share, Growth Opportunities, Potential, Segmentation, Trends and Forecast to 2028

  2. Global Market Scenario of Pharmaceutical Packaging Industry Pharmaceutical Packaging Market is projected to cross USD 155.3 billion by 2028. The rising focus on product differentiation and brand enhancement by pharmaceutical manufacturers along with an increasing expansion of retail pharmacies around the globe are anticipated to drive the overall pharmaceutical packaging market revenue during the assessment period. Some of the major findings of the pharmaceutical packaging market report include: The market growth can be attributed to the increasing adoption of packaging solutions to maintain product stability throughout its shelf life. The growing global healthcare sector coupled with technological innovations in sustainable & reusable packaging will enhance the market growth. Based on material, the plastic & polymer segment dominated the pharmaceutical packaging market in 2021 and is projected to generate huge revenue gains during the forecast period.

  3. Continue:- Based on product, the plastic bottle segment held a major market share in 2021. Pharmaceutical packaging is used to store, secure, and protect the drugs during transportation and handling. These solutions are highly regulated to safeguard medicines or drugs from any external influence or physical damage. Packaging also helps in the protection of drugs, which are moisture, temperature & light-sensitive, thereby increasing their shelf life without contaminating the formulation. Furthermore, growing consumer awareness of healthier lifestyle, rising healthcare expenses, advanced drug delivery, growing emerging economy market, and innovative packaging solutions with higher patient convenience & compliance. The COVID-19 pandemic has impacted various industries around the globe including automotive, construction, manufacturing, and others. However, pharmaceutical companies were considered essential service sectors and exempted from lockdown restrictions.

  4. Request for sample copy of this research report@ https://www.gminsights.com/request-sample/detail/5256

  5. 360° Industry Analysis Request for customization:https://www.gminsights.com/roc/5256 The industries were operational for the production of generic drugs and healthcare products, which in turn, increased the demand for packaging solutions. Additionally, many biotech and pharma companies were engaged in R&D activities for the development of COVID-19 vaccines, which spiked the demand for glass vials in 2021. The demand is further anticipated to increase with the increasing demand for vaccines. The high cost associated with the overall manufacturing of pharmaceutical packaging is likely to hamper the market growth. Manufacturers have to comply with government regulations on packaging, which streamline their production processes and increase the overall cost associated with it. However, key players are focusing on the development of packaging from compostable materials and the use of Post-Consumer Recycled (PCR) material to increase sustainability, thus providing a lucrative opportunity for the market in the long term. For instance, in November 2019, Gerresheimer AG offers bottles made up of R-PET and BIO-PET for pharmaceutical & cosmetic preparations. R-PET bottles are made from recycled polyethylene terephthalate and BIO-PET bottles are made from renewable & sustainable biomaterials such as sugarcane.

  6. Competitive Analysis: Glass is majorly used in the manufacturing of syringes, injectable vials, cartridges, syrup bottles, and other products. Glass is impermeable to microorganisms, moisture, gases, and odors, thus is widely utilized in the packaging of semi-solid & liquid pharmaceutical formulations. Typically, amber-colored glass is used in the packaging of pharmaceutical products as it protects the product from UV wavelength. The segment accounted for 23.8% share in 2021. The parenteral containers segment is expected to grow at a CAGR of 6.3% from 2022 to 2028. Parenteral packaging protects a drug’s therapeutic effectiveness and keeps its potency intact until it is administered. Parenteral containers are also utilized to protect a drug or any other pharmaceutical preparation from contamination. Major companies operating in the market include Amcor plc, Becton, Dickinson and Company, AptarGroup, Inc., Berry Global Inc., Drug Plastics Group, Bilcare Limited, Gerresheimer AG, and Schott AG. Furthermore, West Pharmaceutical Services Inc., SGD Pharma, Vetter Pharma International, Constantia Flexibles, PGP Glass private Ltd., Mondi Plc, and Klockner Pentaplast Group are a few other players operating across the global market.

  7. Title Latest Research Report On Pharmaceutical Packaging Market@ https://www.gminsights.com/industry-analysis/pharmaceutical-packaging-market Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/5256 Request for customization: https://www.gminsights.com/roc/5256

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