Transparency Market Research
The demand within the global market for pharmaceutical plastic packaging has accumulated massive revenues over the past few decades. Plastic was considered to be the most apt form of pharmaceutical packaging in the past, and this trend reflects in contemporary-day packaging standards as well. Hence, it is safe to believe that the global pharmaceutical plastic packaging market has been expanding at a steady pace. Despite the pressing need to reduce usage of plastic, it is impossible to completely eliminate plastic-use from the pharmaceutical industry. Hence, the global demand for pharmaceutical plastic packaging is expected to trace a steady upward trajectory over the next decade.
The pharmaceutical industry has overhauled its production, packaging, and manufacturing dynamics over the past years. In this quest, the industry has increased its use of plastic packaging which has in turn given an impetus to the growth of the global pharmaceutical plastic packaging market. Plastic packaging is cheaper as compared to biodegradable or paper packaging. For this reason, new pharmaceutical companies resort to the use of plastic packaging. Henceforth, the global market for pharmaceutical plastic packaging offers lucrative opportunities for growth in recent times.
On the basis of geography, the market for pharmaceutical plastic packaging in Asia Pacific has been expanding at a healthy rate. This owes to the huge-scale manufacturing of plastic across India and China. Furthermore, recyclable plastic has emerged as a viable option for packaging within the pharmaceutical industry. This factor has also aided the growth of the global pharmaceutical plastic packaging market in recent times.
Over the last few years, the packaging is among the high growth industries driving by expanding pharmaceutical, FMCG, manufacturing, and healthcare sector globally. Packaging helps in identification of products, protects the contents of the product from leakage, contamination, spoilage, and etc. Moreover, various manufacturers are using packaging as a promotional strategy to attract the attention of the consumers while buying. Therefore, pharmaceutical plastic packaging represents a significant share in the packaging industry which are specifically designed to meet the packaging requirements for pharmaceutical substances such as capsules, tablets, sterile injectable, solutions & suspensions, and others. Thus, plastic packaging helps in protecting medicines form materialistic damage and contamination of the external environment which can affect the properties of pharmaceutical products. The pharmaceutical plastic packaging comprises of the primary, secondary, and tertiary packaging system, in which, primary packaging includes blister packs, bottles, and aerosol spray can. Secondary packaging comprises of cartons and boxes. Other than that, tertiary packaging system contains barrel, edge protector, and container.
Pharmaceutical Plastic Packaging Market: Drivers and Restraints
Factors such as increasing demand for prescription dose medicines rise in research and development activities, and growing demand for environmentally friendly packaging is expected to driving the growth of the global pharmaceutical plastic packaging market. Moreover, growing prevalence of chronic diseases, expanding pharmaceutical industry, affluence in developing countries such as India and China, technological development, innovation in the packaging material, and rise in the generic market are some of the primary factors driving the growth of the pharmaceutical plastic packaging market over the forecast period. However, stringent government regulations related to consumer safety and environmental protection, availability of substitute for plastics such as glass and metal, and fluctuation in raw material price may limit the growth of the pharmaceutical plastic packaging market during the forecast the period.
Pharmaceutical Plastic Packaging Market: Segmentation
The pharmaceutical plastic packaging market has been classified by product type, material type, application, and veterinary vaccine packaging type.
Based on product type, the pharmaceutical plastic packaging market is segmented into the following:
Based on the material type, the pharmaceutical plastic packaging market is segmented into the following:
Based on the application, the pharmaceutical plastic packaging market is segmented into the following:
Based on the veterinary vaccine packaging type, the pharmaceutical plastic packaging market is segmented into the following:
Pharmaceutical Plastic Packaging Market: Overview
Pharmaceutical plastic packaging market revenue is expected to grow at a rapid growth rate, over the forecast period. The market is anticipated to perform well soon owing to growing demand for injectable drug administration, the rise in sustainability concerns coupled with increasing recycling rate of plastics in the pharmaceutical industry. Additionally, expanding demand for moisture proof and deoxidizing medical plastic moisture proof closures used in the plastic bottles is increasing with the growing trend of OTC (over the counter) drugs are the main factors that can propel the market revenue growth of pharmaceutical plastic packaging in the near future. Based on product type, bottles segment is projected to lead the global pharmaceutical plastic packaging market over the forecast period attributed to the high availability of plastic bottles along with growing demand for administering of oral medicines as well as over the counter drugs.
Pharmaceutical Plastic Packaging Market: Region-wise Outlook
Depending on the geographic region, the pharmaceutical plastic packaging market is classified into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia-Pacific, and the Middle East & Africa. North America is expected to be the leading markets in the global pharmaceutical plastic packaging market followed by Europe owing to established healthcare infrastructure, high awareness among people, and companies are focusing on developing eco-friendly pharmaceutical packaging products to protect the environment. Japan is anticipated to witness a substantial growth in the global pharmaceutical plastic packaging market over the forecast period owing to rise in demand for improved healthcare services. Moreover, the market in Asia-Pacific is projected to have the fastest growth in the global pharmaceutical plastic packaging market over the forecast period due to expanding urbanization, growing awareness among the population, and an increase in the aging population. MEA is expected to witness the significant growth rate in the global pharmaceutical plastic packaging market due to growing health care investments coupled with government initiatives in the region.
Pharmaceutical Plastic Packaging Market: Key Players
Some of the prominent players in the pharmaceutical plastic packaging market are Amcor Ltd., MeadWestvaco Corporation, RPC Group, COMAR, LLC, Capsugel Inc., AptarGroup, Inc., Schott AG, Gerresheimer AG, O.Berk Company, LLC, Dickinson and Company, Owens-Illinois, Berry Plastics Group, Inc., Pretium Packaging Corporation, Tim Plastics, Inc., and others.
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