Pharmaceutical Packaging Market to Receive overwhelming hike in Revenues, 2017 – 2025
Pharmaceutical packaging has gained rapid importance, owing to the rise in number of people suffering from various diseases, which has created the need for proper protection of the medicines. Packaging is involved in dosing, dispensing and in the use of pharmaceutical products. Packaging also helps in protecting the drugs and medicines against unfavorable environments such as physical damage, biological contamination and degradation. Improvement in the services of healthcare backed by rapid urbanization, especially in the emerging economies have contributed to the growth of pharmaceutical packaging market.
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Plastics are expected to lose demand in the future due to rising environmental concerns regarding plastic pollution, due to which the manufacturers are looking to adopt alternative modes of packaging that would cater to the consumers requirements and would have less impact on the environment.
North America is expected to lead the pharmaceutical packaging market throughout the forecast period, owing to continuous product innovation resulting from extensive research and development activities such as child-resistant packs, and pre-filled syringes. These factors are majorly responsible for the growth of pharmaceutical packaging market in North America. Blister packaging is a major choice among the manufacturers in this region owing to its ability to protect the products from moisture.
Asia Pacific is expected to project the fastest growth in the pharmaceutical packaging market during the forecast period. Rising demand for health care services among consumers coupled with rapid penetration of the major manufacturers operating in the pharmaceutical industry and pharmaceutical packaging industry are some of the prime factors behind the high growth of this industry in Asia Pacific.
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The report segments the global pharmaceutical packaging market on the basis of material, product, end-use industry, livestock and geography. On the basis of material, the market is categorized into plastics and polymers, aluminum foil, paper and paperboard, glass and others. On the basis of product type, the market is segmented into plastic bottles, blister packs, caps and closures, pre-filled syringes, medical specialty bags, pouches and strip packs, pre-fillable inhalers, medication tubes and others. On the basis of end-use industry, the market is segmented as pharmaceutical manufacturing, retail pharmacies, institutional pharmacies, contract packaging and others. On the basis of livestock, the market is segmented into livestock, poultry, porcine, equine, aquaculture, and others. On the basis of geography, the market is divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
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