Pharmaceutical Packaging Market Worth $80 Billion by 2020

Jul 09, 2015, 12:00 ET from MarketsandMarkets

DALLAS, July 9, 2015 /PRNewswire/ --

The report "Pharmaceutical Packaging Market by Packaging Type, by Raw Material, by Drug Delivery Type by Region(North America, Europe, Asia-Pacific, RoW) - Forecasts to 2020", published by MarketsandMarkets, The market for Pharmaceutical Packaging, in terms of value, is projected to reach more than $80 Billion by 2020, witnessing a CAGR around 6.50% between 2015 and 2020.

Browse 114 Market Data Tables and 96 Figures spread through 166 Pages and in-depth TOC on "Pharmaceutical Packaging Market".
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The market report defines and segments the pharmaceutical packaging market with an analysis and forecast of value by type. Along with this, the value and volume of pharmaceutical packaging by raw material, drug delivery type, and region are also discussed in the report.

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Pharmaceutical packaging is defined as an economical means of providing protection, presentation, identification, information, and convenience for pharmaceutical products from the moment of production until it is used or administered. It requires a large amount of scientific and engineering expertise. Pharmaceutical packaging is of three types primary, secondary, and tertiary. These types are classified mainly in three types including by packaging type, by material type, and by drug delivery type.

The market for pharmaceutical packaging, in terms of value, is projected to reach more than $80 Billion by 2020, witnessing a CAGR around 6.50% between 2015 and 2020. This report defines and segments the pharmaceutical packaging market with an analysis and forecast of value and volume of different types. It also identifies the driving and restraining factors for the pharmaceutical packaging market with an analysis of trends, opportunities, and challenges. The market segmentation and value forecast is made on the basis of key regions, which are North America, Europe, Asia-Pacific, and Rest of the World (RoW). Further, the market is segmented and the volume and value are projected based on important packaging types, material types, and drug delivery types.

Rising demand of pharmaceuticals in the Asia-Pacific and RoW, especially China, India, and Brazil 

The Asia-Pacific and RoW are projected to register a high CAGR in the next five years.

Japan and China are the two economies in Asia-Pacific having a rising demand for pharmaceuticals. Globally, Japan is the second-largest pharmaceuticals consumer after the U.S. and generated $111,642 million in sales in 2011. Japan contributes almost 40% of the Asia-Pacific pharmaceutical packaging industry and is the largest market in the region. Japan also is one of the leaders in product innovation globally. Japan's fast growing pharmaceutical market is driving the growth in pharmaceutical packaging and is expected to expand the market in the near future.

China is one of the leading countries in emerging BRIC countries that is going to dominate the global pharmaceutical packaging market in near future. China is gradually moving toward high quality and high valuable medicines, and preparing to fight counterfeit drugs' challenge.

Brazil is a fast emerging market for pharmaceuticals and has potential to become an important market for pharmaceutical packaging due to the vast availability of raw materials required for the manufacturing. Brazil is one of the BRIC countries that will be dominating the global pharmaceutical packaging market in future.

Growth in global demand for primary pharmaceutical containers and fast increasing third party logistics services provides opportunity for the growth of the pharmaceutical packaging market  

Advances in biotechnology leading to the introduction of new injectable parenteral therapies and increased demand for high visibility with unit dosage packaging will help in primary segment's strong growth. Major contributors to the growth are Pre-fillable Syringes and Pre-fillable Inhalers. Plastic bottles, blister packs, and ampoules & vials are still witnessing a healthy growth rate.

Fast growing and emerging markets such as Brazil, Russia, India, China, the Middle East, and Turkey-(BRICMT) countries, are the places where a third-party logistics (3PL) and other pharmaceutical and pharmaceutical packaging services find the biggest opportunity. The leading logistics services providers such as DHL, UPS, and TNT are working closely with the pharmaceutical and packaging industries on supply chain and other services. 3PL services providers are acting as major collaborators in distribution of pharmaceutical products offering services and solutions for warehousing, pick/pack, and track-n-trace, time-critical, temperature-controlled facilities. These are providing ample opportunity for the growth of the pharmaceutical packaging market.

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