NEW YORK, Nov. 24, 2021 /PRNewswire/ -- The Global Pharmaceutical Packaging Market is expected to clock US$ ~174.7 billion by 2031 owing to rising demand for primary pharmaceutical packaging, increasing demand for drug delivery devices and blister packaging, technological advancements, expanding 3PL & other services and growing pharmaceutical industry in emerging markets.
The global pharmaceutical packaging market has been analyzed from three different perspectives –Type of Material, Product Type, and Region.
The rapid spread of coronavirus disease (COVID-19) across almost every country worldwide, has resulted in severe outcomes, across all regions.
The first case of COVID-19 was found in Dec 2019, and by the end of Dec 2020, the count has surged to more than 90.3 million globally.
Many vaccine candidates for COVID-19 have been approved by different countries or have been granted emergency use authorization (EUA), with an aim to vaccinate the population to protect them and to prevent further spread of the virus.
This factor is anticipated to boost the market to a certain extent in the forecast period.
Excerpts from 'By Product Type Segmentation'
The global pharmaceutical packaging market has been segmented majorly into eight distinct categories depending on product type, viz. glass & plastic bottles, syringes, blister packs, vials & ampoules, tubes, caps & closures, cardboard boxes and other product types (cartridges, bags & pouches, pre-fillable inhalers, pre-fillable syringes, labels, and others). The vials & ampoules segment is expected to be the fastest growing segment in the pharmaceutical packaging market during the forecast period. Government agencies and various organizations globally are continuously striving to drive their national immunization programmes. As vaccines are mainly stored in vials, this factor is expected to boost the market growth. Immunization drive for COVID-19 globally is also likely to propel the market.
Excerpts from 'By Region Segmentation'
The global pharmaceutical packaging market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to command the largest share in the global pharmaceutical packaging market, followed by Asia Pacific, Europe & Rest of the World (RoW). Rapid technological advancements, presence of large number of prominent pharmaceutical companies in the region, rising government initiatives in the healthcare industry, growing investments in R&D activities, high per capita income, and advanced healthcare infrastructure are some of the key factors driving the North American market.
Excerpts from 'Competitive Landscape'
The prominent players operating in the global pharmaceutical packaging market are
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