The global pharmaceutical packaging market is anticipated to reach USD 160.12 billion by 2028, at a CAGR of 4.49% from 2021 to 2028. the market is driven by increasing demand for pharmaceutical packaging products, rising demand for convenience and safety, and technological advancements. The key players in the market are focusing on developing innovative products and services to gain a competitive edge in the market.
The report highlights the major trends and dynamics of the pharmaceutical packaging market, which include factors such as changing consumer lifestyles, increasing per capita income, a shift towards online sales, and stringent government regulations. Additionally, the rising demand for e-commerce and digitalization are some of the key factors driving market growth.
The report also indicates that the major players in the market are investing in research and development activities to introduce advanced and innovative products. Some of the major players in the market include Amcor, Becton, Dickinson and Company, West Pharmaceutical Services, Gerresheimer AG, Schott AG, Constantia Flexibles, and Nipro Corporation.
The report further highlights the key segments of the pharmaceutical packaging market, which include primary packaging, secondary packaging, and tertiary packaging. The primary packaging segment is estimated to dominate the market in the coming years due to its increasing demand for vials, bottles, blister packaging, and others. Furthermore, the secondary packaging segment is expected to witness significant growth over the forecast period due to its increasing demand for cartons, labels, and other products.
The report also highlights the geographical outlook of the market, which includes major regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, North America is expected to dominate the market in the coming years, due to the presence of a large number of pharmaceutical companies in the region.
North America Pharmaceutical Packaging Market Share in 2020 was 34.6%
Overall, the global pharmaceutical packaging market is expected to witness significant growth over the forecast period 2021-2028, due to the increasing demand for convenience and safety, technological advancements, and the increasing demand for e-commerce.
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