Pharmaceutical Contract Packaging Market is Projected to Reach USD 47.5 Billion by 2027

According to Research Report, the global pharmaceutical contract packaging market size is projected to reach USD 47.5 billion by 2027 from USD 28 billion in 2019 and is expected to grow at a CAGR of 7% over forecast period 2020 to 2027.

The access to advanced technologies, cost-saving, and focus on core competencies are anticipated to propel market growth over the forecast period.

The growing pharmaceutical industry with high competition within the market is the major factor driving the market. Pharmaceutical companies are outsourcing the packaging activities to third parties, mainly in emerging nations such as China, India, and Brazil. Further, rising pricing pressure on pharmaceutical companies is boosting the demand for contract packaging services in the industry. The stringent regulatory scenario in developed countries and changing regulations in emerging countries are driving the market.

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Snapshot

The global pharmaceutical contract packaging market is expected to show upward graph of revenues during the forecast period of 2020 to 2030. Key reason attributed to this growth is thriving pharmaceutical sector in the world. In recent years, the companies working in pharmaceutical sector are inclined toward focusing on their core activity of drug production. As a result, they are trying to outsource various activities such as packaging to third parties. This factor is working as a driver for the global pharmaceutical contract packaging market.

An upcoming research report from VRR on the global pharmaceutical contract packaging market presents complete assessment of drivers, restraints, growth avenues, and challenges of this market. The report provides helpful insights of the global pharmaceutical contract packaging market for the forecast period of 2020 to 2030. Thus, the study of market for pharmaceutical contract packaging works as a precious guide for market entities and assists them in making strategic moves and propel their businesses.

The global pharmaceutical contract packaging market is segmented on the basis of various key factors such as drug type, product type, drug form, and region. Based on the product type, the market for pharmaceutical contract packaging is classified into caps/closures, plastic containers, glass containers, and flexible packaging.

Growth Dynamics

The worldwide pharmaceutical sector is growing at rapid pace. Various firms in this sector are executing new strategies to advance their production and sales abilities. One of such strategies in trend today is pharmaceutical contract packaging. The global pharmaceutical contract packaging market is growing on the back of plethora of reasons. Some of the key reasons driving market growth are rising demand for sustainable packaging, launch of new medicines, and increasing older population in all worldwide locations.

The global pharmaceutical contract packaging market is expected to see high demand avenues owing to presence of stringent protocols related to drugs packaging in various countries of the world. Apart from this, growing interest of people in innovative packaging will support the growth of the market for pharmaceutical contract packaging in the forthcoming years.

Report Highlights

  • The primary packaging segment accounted for the largest revenue share of 40% and anticipated to witness higher growth in 2019. The segment is anticipated to dominate the pharmaceutical contract packaging market over the forecast period owing to the increasing outsourcing of primary packaging activities due to a lack of in-house capacities and capabilities.
  • The bottles segment is the largest segment in the primary packaging market owing to the growing requirement of pharmaceutical bottles market worldwide and increasing adoption of pharmaceutical bottles for unit dose packaging particularly from high demand regions such as the Asia Pacific.
  • The glass segment held the largest revenue share of 37.6% in 2019 as most of the midsized and small pharmaceutical companies do not have the glass wrapping capabilities.
  • The plastics and polymers segment is anticipated to witness a CAGR 8.0% over the forecast period owing to the growing demand for the plastic packaging industry in pharmaceuticals for the storage and delivery of medicines. In addition, the increasing complexity of plastic packaging requirements as more innovative products are brought to market is increasing the partnerships between pharmaceutical companies and CPOs in the industry. This segment is also expected to witness the highest innovation index, owing to numerous researches on biodegradable plastics.
  • North America accounted for the largest revenue share of 32.7% in 2019 owing to the quality service offerings by the CPOs and CDMOs based in the U.S. In addition, most of the pharmaceutical companies outsource their wrapping activities to contract packagers North America to simplify entry into the U.S. markets.
  • However, Asia Pacific is expected to witness the fastest growth over the forecast period due to the presence of a large number of contract packaging service providers in the region.

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Key Players

  • Amcor plc
  • BALL CORPORATION
  • Nipro Corporation
  • Daito Pharmaceutical Co., Ltd.
  • Pfizer CentreOne
  • West Pharmaceutical Services, Inc.
  • WestRock Company
  • Patheon (Thermo Fisher Scientific Inc.)
  • Catalent, Inc.
  • Baxter BioPharma Solutions

Market Segmentation

Type Outlook

    • Primary Packaging
      • Bottles
      • Vials
      • Ampoules
      • Blister Packs
      • Others
    • Secondary Packaging
    • Tertiary Packaging

Material Outlook

    • Plastics & Polymers
    • Paper & Paperboard
    • Glass
    • Aluminum Foil
    • Others

Regional Outlook

    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Netherlands
      • Switzerland
      • Belgium
      • Russia
      • Sweden
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • Malaysia
      • Philippines
      • Thailand
      • Singapore
      • Indonesia
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Egypt

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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