Pharmaceutical packaging market to grow by USD 48,889.6 million from 2022 to 2027; North America will account for 31% of market growth

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15 Aug, 2023, 12:00 ET

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NEW YORK, Aug. 15, 2023 /PRNewswire/ -- The pharmaceutical packaging market size is expected to grow by USD 48,889.6 million during 2022-2027, progressing at a CAGR of 8.44% as per the latest Technavio market research report. North America will account for 31% of market growth during the forecast period. This growth is attributed to factors such as the increasing value of US pharmaceutical exports, rising healthcare spending, and an aging population. Government health insurance programs are also boosting market growth. The US pharmaceutical industry receives a lot of venture capital investment, which further fuels the regional market's growth. For more insights on the market share of various regions- Download sample report in MINUTES

Pharmaceutical Packaging Market: Increase in R&D spending in the pharmaceutical industry to drive growth

Pharmaceutical Packaging Market: Expansion of Manufacturing Facilities

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Some of the key Pharmaceutical Packaging Market Players:

The pharmaceutical packaging market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Amcor Plc, AptarGroup Inc., Ball Corp., Berry Global Inc., Becton Dickinson and Co., Constantia Flexibles Group GmbH, Datwyler Holding Inc., Gerresheimer AG, International Paper Co., Jabil Inc., James Alexander Corp., KP Holding GmbH and Co. KG, Nipro Corp., O I Glass Inc., SCHOTT AG, Vitro S.A.B. de C.V., West Pharmaceutical Services Inc., WestRock Co., Winpak Ltd., and Catalent Inc.

What's new?

Technavio has segmented the market based on the material (rigid plastic, flexible plastic, glass, and others), product (plastic bottles, caps and closures, blister packs, pre-fillable syringes, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

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The pharmaceutical contract packaging market is estimated to grow at a CAGR of 12.81% between 2022 and 2027. The size of the market is forecasted to increase by USD 6,006.87 million. This report extensively covers market segmentation by packaging (plastic bottles, blister packs, pouches, parenteral containers, and pre-filled syringes), type (primary, secondary, and tertiary), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The rising R&D spending in the pharmaceutical industry is notably driving market growth.

The pharmaceutical glass packaging market is estimated to grow at a CAGR of 6% between 2022 and 2027. The size of the market is forecasted to increase by USD 5,742.88 million. This report extensively covers market segmentation by type (generic, branded, and biologic), product (bottles, ampoules and vials, syringes, and cartridges), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The increase in R&D spending in the pharmaceutical industry is notably driving market growth.

Pharmaceutical Packaging Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.44%

Market growth 2023-2027

USD 48,889.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.8

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 31%

Key countries

US, Canada, China, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Material

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio

Technavio