According to PersistenceMarketResearch, the global pharmaceutical packaging market is expected to grow at the rate of more than 8% between 2020 and 2030.
Snapshot
Pharmaceutical packaging is subject to a variety of uses. Apart from storing and protecting drugs, it facilitates identification for marketing and promotion of different brands. Out of tertiary, secondary, and primary types of packaging, the third had been doing the rounds till date. However, now it’s the secondary and tertiary types taking the centrestage, as people as well as pharmaceutical companies prefer extra external protection.
Usually, glass bottles are used for storing drugs. Though they come in diverse colors, amber colored bottles are the most common ones. To play safe, glass medicine bottles contain child-resistant closures. Glass used is type I (ultra-resistant borosilicate glass), type II (surface treated soda lime glass), and type III (soda lime glass). These days, plastic bottles are also used. Emphasis is being laid on producing them from recyclable plastic. They include PP, HDPE, LDPE, and PET. The sizes available are large, small, and miniature.
Also, sterile packaging is creating ripples in the present scenario. It comes with co-extruded films (which could be created by making use of plastics inclusive of PP and HDPE).
Region-wise
North America holds the largest market share due to the US being home to pharmaceutical companies like Pfizer, Abbott, Novartis, and Roche. Europe and the Asia-Pacific come second and third respectively.
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Competitive Landscape
The key market participants are inclusive of Amcor Ltd., Aptar Group Inc., Gerresheimer AG, Schott AG, and West Pharmaceutical Services, Inc. Scott AG, in Apr 2019, did invest BRL 50 Mn in Rio de Janerio in pharmaceutical tubing production. This strategy was a constructive step towards its global growth strategy.
West Pharmaceuticals, in Mar 2019, did open its new digital technology in Bengaluru (India). This center is likely to let the team bring about digital advancements for creating insights and value to the customers/team members.
