32% of Growth to Originate from North America for Pharmaceutical Caps and Closures Market | By Material (plastic, metal, and rubber or cork) and Geography (North America, Europe, APAC, South America, and MEA) | 2021-2025 Analysis and Review | Technavio

• Amcor Plc- Amcor Plc operates its business under segments- Flexibles and Rigid Packaging. The company offers pharmaceutical caps and closures such as STELVIN and more.
• Berry Global Group Inc.- The company operates its business under segments- Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene and Specialties. The company offers pharmaceutical caps and closures for wide range of applications.
• Caps & Closures Pty Ltd.- Caps & Closures Pty Ltd. offers caps and closures such as TamperSafe and others.

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One of the key factors driving growth in the pharmaceutical caps and closures market is the development of child-resistant and tamper-evident packaging. Child-resistant packaging is a type of packaging with safety caps or closures. It reduces the risk of children ingesting hazardous materials. Child-resistant packaging is required for prescription drugs, as well as OTC medications, for both adults and children according to regulations. The occurrence of numerous accidents that involved children opening the packaging and ingesting the contents led the United States Congress to pass the Poison Prevention Packaging Act of 1970. According to the regulations of the US FDA, the packaging of OTC drug products must be tamper-evident. This drives the demand for child-resistant and tamper-evident caps and closures and reassures people about the authenticity of the pharmaceuticals. Hence, the development of child-resistant and tamper-evident packaging is likely to drive the global pharmaceuticals caps and closures market.

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The risks associated with the biodegradability and carcinogenicity of plastics will be a major challenge for the pharmaceutical caps and closures market during the forecast period. Pharmaceutical packaging heavily relies on the use of plastics, such as polyethylene, polypropylene, polyolefin, poly (vinyl chloride), and polyethylene terephthalate. However, there are several concerns with the use of plastics for pharmaceutical packaging, especially regarding the biodegradability and carcinogenicity of the material. For instance, it is widely known that plastics leach chemicals that can be toxic or carcinogenic. There are numerous leachables from plastics that may cause harm to customers or even interact with the pharmaceuticals. The non-biodegradable property of plastic limits the wide use of certain plastics in caps and closures. These factors have prompted various agencies across the world to discourage the use of plastic and opt for substitute materials such as glass, metal, and rubber, which can potentially make caps and closures more expensive, thereby hampering their use in pharmaceutical packaging. Hence, the risks associated with the biodegradability and carcinogenicity of plastics are likely to hinder the growth of the global pharmaceuticals caps and closures market.

Pharmaceutical Caps and Closures Market: Segmentation Analysis

This market research report segments the pharmaceutical caps and closures market by Material (plastic, metal, and rubber or cork) and Geography (North America, Europe, APAC, South America, and MEA).

32% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for pharmaceutical caps and closures in North America. However, the market growth rate in this region will be slower than the growth of the market in the European, APAC, and MEA regions. The growing value of pharmaceutical exports from the US, increasing healthcare spending, and rising aging population will facilitate the pharmaceutical caps and closures market growth in North America over the forecast period.

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Some of the key topics covered in the report include:

Market Challenges

Market Drivers

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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