May 17, 2018: Heraldkeeper.com: All of these factors, coupled with the rising pharmaceutical industry, will continue to motivate people to purchase packaging product. However, availability and price volatility of raw materials and changing health regulations, in order to meet increasing demand from the growing pharmaceutical industry acting as a major restraint for the market.
MarketResearchFuture.com added New Report Named “Pharmaceutical Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation By Type (bottle & vials, aerosol packs, tubes, blister packs, sachets, ampoules) material (Glass, plastic, Paper) Packaging (Flexible, rigid and semi-rigid) application (Medical tools & equipment, Generic drugs, branded drugs) and Region | Outlook to 2023” to its Database.
Pharmaceutical packaging is a combination of components, which are necessary to preserve, protect & deliver different types of the drug product. Traditional pharmaceutical packaging materials have been developed to provide a high degree of protection to sensitive goods. However, with technological advancement, new packaging challenges have risen, which are solved with the use of a new generation of materials. Advanced manufacturing processes such as green packaging technologies, use of environment-friendly materials to develop pharmaceutical packages, which inflict minimal harm to the environment plays an important role in the growth of the global pharmaceutical packaging market.
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The packaging of pharmaceuticals provides containment, drug safety, identity, the convenience of handling, and delivery. Pharmaceutical packagers concerned with pressing include counterfeit and packaging, ensuring drug integrity and balancing child-resistance, and others. In the world of the Pharmaceutical packaging constant innovation is key to ensure Patient safety. Moreover, the combination of an increase in the generic OTC products and an increasingly competitive marketplace have made it an important marketing tool. The issue of environmental safety is also a key concern for emerging countries.
Pharmaceuticals need reliable and speedy packaging solutions, which fulfill quality, comfort, and security needs. Constant innovations such as blow-fill-seal (BFS) vials, anti-counterfeit measures, plasma impulse chemical vapor deposition (PICVD) coating technology, two-in-one prefilled vials, prefilled syringes, and child-resistant packs all have a direct impact on the packaging.
According to PMMI, The Association for Packaging and Processing Technologies, the market for pharmaceuticals and medical devices is likely to continue growing over the forecast period. In total, the 2015 pharmaceutical industry produced USD 1.1 trillion in the global sales with medical devices reaching USD 350 billion. Aging population, longer life expectanc,y and a general increase in rare or chronic diseases are impacting healthcare worldwide. Global medicine use is expected to reach 4.5 trillion doses by 2020, up 24% from 2015, emphasizing the opportunity in this market segment.
The future of the global pharmaceutical packaging market looks good, driven by the growth of the pharmaceutical industry coupled with improving healthcare services in emerging economies. In this pharmaceutical packaging market, it is categorized into different materials, which include plastic, glass, paper, and other material types. On the basis of the type, it is segmented into bottle & vials, aerosol packs, tubes, blister packs, sachets, ampoules and others. By the packaging, the market is categorized into flexible, rigid and semi-rigid. On the basis of the application, the market is catogorized into medical tools & equipment, generic drugs, branded drugs, and other. Geographically, the market is segmented into Asia Pacific, North America, Europe, and the Middle East & Africa.
Some of the key players in the global pharmaceutical packaging market include Amcor Ltd. (Australia), Schott AG (Germany), AptarGroup, Inc. (U.S.), Gerresheimer AG (Germany), Becton, Dickinson and Company (U.S.), Capsugel Inc. (U.S.), Owens-Illinois (U.S.), Berry Plastics Group (U.S.), Westrock Company (U.S), and COMAR LLC (U.S.).
The companies that are trying to enter the market need to have a medium capital investment to set up manufacturing facilities and carry out R&D activities. Moreover, low to medium switching costs by consumers, makes the entry of new players moderately easy. Thus, making the threat of new entrants, medium.
April 20, 2016: Bemis Company, Inc. acquired the medical device packaging operations and related value-added services of SteriPack Group, a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications.
In 2016, Amcor Ltd. (Australia) expanded its Milwaukee plant, Wisconsin (U.S.) with an aim to enhance its flexographic printing.
High adoption of desiccants for pharmaceutical and chemical sectors helped the North American market to stay ahead of other regional pharmaceutical packaging market. Availability of raw materials and advance technologies, and continuous research and development activities enable the development of innovative product solutions in this region. Additionally, new product launches with specialized packaging needs and increase in investment for novel drug delivery techniques.
Asia Pacific is expected to experience a high growth over the forecasted period due to fastest growing markets such as China and India. Rapidly expanding pharmaceutical manufacturing capabilities and the adoption of more stringent regulations aimed at improving the quality and integrity of domestically produced medicines and its packaging.
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The report for Global Pharmaceutical Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions
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