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Pharmaceutical Contract Packaging Market Worth $42.03 Billion by 2029
Meticulous Research®—a leading global market research company, published a research report titled, ‘Pharmaceutical Contract Packaging Market by Service (Primary Packaging {Bottle, Vial, Ampoules, Blister Packs}, Secondary Packaging); Material (Plastic, Polymer, Paper, Glass, Aluminum Foil), and Geography—Global Forecast to 2029.’According to this latest publication from Meticulous Research®, the global pharmaceutical contract packaging market is projected to reach $42.03 billion by 2029, at a CAGR of 8.4% during the forecast period 2022–2029. Capacity expansions and investments in expanding services, adoption of smart packaging solutions, and complex packaging requirements of the pharmaceutical industry are the factors contributing to the growth of this market.
Pharmaceutical Contract Packaging Market: Future Outlook
The global pharmaceutical contract packaging market is segmented by service (primary packaging {bottle, vial, ampoules, blister packs, and other primary packaging}, secondary packaging), material (plastics & polymers, paper & paperboard, glass, aluminum foil, and other materials), and geography. The study also evaluates the country and regional-level markets.
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Based on service, in 2022, the primary packaging segment is expected to account for the largest share of the market. This segment is further segmented into bottles, vials, ampoules, blister packs, and other primary packaging. In 2022, the bottles sub-segment is expected to account for the largest share of the market. As a primary packaging unit, bottles provide good stability and maintain the temperature of the drug. Primary packaging makes it easy for the users to handle the products. The bottles as a unit of primary packaging offer advantages, such as protection of the drugs, cost-effectiveness, and durability, owing to which the demand for bottles is higher.
Based on material, the market is segmented into plastics & polymers, paper & paperboard, glass, aluminum foil, and other materials. In 2022, the plastics & polymers segment is expected to account for the largest share of the market. The growing demand for plastic-based packaging in pharmaceuticals due to its light weight, flexibility, and cost-effectiveness, contributes to the large market share of this segment.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the pharmaceutical contract packaging market, followed by Europe and Asia-Pacific. The large share of this market is attributed to the trend of onshoring pharmaceutical manufacturing, the presence of key players in the country, technological advancements, and the rising adoption of technologically advanced products.
Key Players:
The key players operating in the global pharmaceutical contract packaging market are Daito Pharmaceutical Co., Ltd. (Japan), WestRock Company (U.S.), Baxter (U.S.), CCL Industries (Canada), Sharp Services, LLC (U.S.), Tjoapack Netherlands B.V. (Pharma Packaging Solutions) (Netherlands), IDT Biologika (Germany), Vetter Pharma International GmbH (Germany), Alcami Corporation, Inc. (U.S.), and CIT srl (Italy).
Quick Buy – Pharmaceutical Contract Packaging Market - Global Opportunity Analysis And Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/10342292
Scope of the Report:
Pharmaceutical Contract Packaging Market, by Service
- Primary Packaging
- Bottles
- Vials
- Ampoules
- Blister Packs
- Other Primary Packaging
- Secondary Packaging
Note: Other primary packaging includes syringes, sachets, and strips.
- Plastics & Polymers
- Paper & Paperboard
- Glass
- Aluminum Foil
- Other Materials
Note: Other materials include metal and paper.
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATM)
- Middle East & Africa
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
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California, 96001, U.S.
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