The Pharmaceutical Packaging Market is expected to grow on a persistent note in the future. With AI making its mark everywhere, how could the healthcare vertical be left behind? Abnormalities in the medical scans could be easily spotted by radiologists with the help of machine learning. Likewise, the healthcare vertical is poised to develop on a ravishing note with technological advancements on the anvil in the next decade.
Market Overview
Packaging refers to an economical means of providing protection, presentation, identification information, convenience and compliance for a product during storage, carriage and display. In addition, packaging also helps manufacturers to differentiate their products from competitors.
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Pharmaceutical packaging is an essential part of pharmaceuticals product and drug delivery system in the pharmaceutical industry. Pharmaceutical packaging protects products from physical damage, biological contamination and from all adverse external influences which can damage the properties of the products.
Pharmaceutical packaging material consists of primary packaging system, secondary packaging system and tertiary packaging system. Primary packaging system consists of those packaging material which have direct contact with the product. It includes bottles, cap, labels and cap liner. Ampoules, tubes, blisters, pens vials, inhalers and syringes are some primary packaging for dosing and fillings. Secondary packaging system includes cartoons, corrugated shippers and pallets.
The U.S. market is driving the growth of North American market for pharmaceutical packaging due to presence of health conscious people and their high spending power. The U.S. market is expected to maintain moderate growth due to increasing aging population, robust innovations and increasing consumer demand for sophisticated packaging.
Technological innovation in packaging and integration and advanced manufacturing process are some of the driving factors responsible for the growth of pharmaceutical packaging market in the U.S. In addition, regulation implemented by authorized agencies such as Food and Drug Administration (FDA), National Quality Forum (NQF) and Healthcare Compliance Packaging Council (HCPC) for packaging is also driving the growth of the pharmaceutical packaging market. However, price volatility, availability of raw material and changing health regulation are some major restraints inhibiting the growth of the pharmaceuticals packaging market.
Nano enabled pharmaceutical packaging open new opportunities for the growth of pharmaceutical packaging market. Nanotechnology, biotechnology and electronics plays important role in enhancing functionality of packaging. Availability of raw material for packaging is expected to be the challenge for the growth of the pharmaceutical packaging market.
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Some of the recent market trends in the field of pharmaceutical packaging market are advancement in packaging technologies and emergence of new medicinal products. In addition, eco-friendly packaging and child resistant packaging is also gaining popularity due to special blister packs and cardboard packaging.
Some of the leading market players are MeadWestvaco Corporation, Alexander (James) Corporation, Baxter International Incorporated, Amcor Limited, Centor and Lilly (Eli) Company. Unilife Corporation, SCHOTT AG and Plastube Incorporated.
Key points covered in the report
- Report segments the market on the basis of types, application, products, technology, etc (as applicable)
- The report covers geographic segmentation
- North America
- Europe
- Asia
- RoW
- The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
- The report provides company profiles of some of the leading companies operating in the market
- The report also provides porters five forces analysis of the market.
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