Opportunities for the global pharmaceutical packaging market to reach $86.4 billion by 2023

According to a new market report published by Lucintel, the future of the global pharmaceutical packaging market looks good, driven by growth of the pharmaceutical industry along with improving healthcare services in developing economies.

The global pharmaceutical packaging market is expected to reach an estimated $86.4 billion by 2023 and is forecast to grow at a CAGR of 5.5% from 2018 to 2023. In this market, plastic, glass, paper, and aluminum foil are the main material types. On the basis of comprehensive research, Lucintel forecasts that plastic packaging is expected to witness significant growth over the forecast period because plastic is lightweight and easy to handle. Plastics also have a superior aesthetic value and an excellent barrier against moisture and air.

Within the global pharmaceutical packaging market, bottles are expected to remain the largest product type driven by increased application in both solid and liquid oral medications as bottles provide convenience, safety, and security.

North America is expected to remain the largest region because of its large pharmaceutical manufacturing base, and the ability to introduce technological advancements to pharmaceutical packaging.   

APAC is expected to witness the highest growth rate over the forecast period due to increased construction of pharmaceutical packaging manufacturing plants, stronger prevention of counterfeit pharmaceutical products, and the large population base.

Emerging trends, which have a direct impact on the dynamics of the industry, include rising demand for eco-friendly packaging, increasing use of nano-enabled packaging, and increasing adoption of blow-fill-seal technology. Amcor Ltd., Gerresheimer AG, West Pharmaceutical Services, Inc., AptarGroup, Inc., and Becton Dickinson are among the major suppliers of the pharmaceutical packaging market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global pharmaceutical packaging market by product, product, material, end user, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Pharmaceutical Packaging Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global pharmaceutical packaging market by product, material, end user, and region, as follows:

By Product Type [Value ($ Million) from 2012 to 2023]:

•          Bottles
•          Caps & Closures
•          Parenteral Containers
•          Blister Packs
•          Pre-Fillable Syringes
•          Pre-Fillable Inhalers
•          Pouches
•          Others

By Material Type [Value ($ Million) from 2012 to 2023]:

•          Plastics
•          Paper and Paperboard
•          Glass
•          Aluminum Foil
•          Others

By End user [Value ($ Million) from 2012 to 2023]:

•          Pharmaceutical Manufactures
•          Contract Packaging

By Region [Value ($ Million) from 2012 to 2023]:

·      North America

·      Europe

·      APAC

·      ROW

This 188-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Mergers & Acquisitions, Due Diligence and SWOT Analysis.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report addresses the following key questions:

Q.1 What are some of the most promising, growth opportunities for global pharmaceutical packaging market by product (bottles, caps and closures, parenteral containers, blister packs, pre-fillable syringes, pre-fillable inhalers, pouches and others), material (plastic, glass, paper and paperboard, aluminum foil, and others),  end user (pharmaceutical manufacturer and), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which region will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?

Q.5 What are the business risks and competitive threats in this market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are some of the changing demands of customers in the market?

Q.8 What are the new developments in the market and which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?

Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?

Q. 11 What M & A activity has occurred in the last 5 years?