The global pharmaceutical Packaging Market was valued at US$71.379 billion in 2017 and is projected to expand at a CAGR of 5.93% over the forecast period to reach US$100.835 billion by 2023. As with most of the packaged goods, pharmaceutical too requires reliable and speedy packaging solutions that deliver a combination of product protection, quality, tamper evidence, patient comfort and security needs. The pharmaceutical packaging is essential for containment and protection of the product, presentation and information about the dosage form, identification of the components of the product and for the convenience associated with the administration of the product. The growth of the pharmaceutical packaging market is driven by increasing demand for drug delivery devices, technological advancements and reduction in the packaging cost with the advancement in the technology. Rise in the demand for reusable and specialty packaging is also expected to bolster the market growth during the given time frame.
By Raw Materials
By Raw materials, the market is segmented into Plastics and Polymers, Glass, Paper and Paperboards, Metal foils and containers and others. Others include secondary packaging material such as resins, adhesives etc. Growing awareness regarding the properties of the different packaging material and suitability with the product to be packaged will drive the market during the forecast period.
By Pharmaceutical Dosage Type
By Pharmaceutical Dosage Type, the market has been segmented as Liquid Dosage, Solid Dosage and Semi Solid and Pressurized Products. The market is impacted by the cost-effectiveness of manufacturing and packaging of the dosage coupled with the adoption rate of novel drug delivery technology platforms.
By Packaging Types
By Packaging types, the market has been further segmented as Blisters Packs, Pre-Fillable Syringes, Medical Speciality Bags, Vials and Ampoules, Pouches and Strip Bags and Others. Blister packaging and pouch and strip bags will show a significant growth during the forecast period owing increasing use of puches and strips and blister packaging for pharmaceuticals and their ease of use.
Geographically, the global digital phase shifter market has been segmented into North America, Europe, Middle East & Africa, Asia-Pacific and South America region. Asia Pacific is expected to show a significant growth during the forecast period owing to the increasing demand for improved healthcare services in the region. North America accounts for largest share of the pharmaceutical packaging market owing to quick adaption of the advances in pharmaceutical packaging in the country.
The global pharmaceutical packaging market is competitive owing to the presence of well diversified global and regional players .The global key players are Sonoco Products Company, Amcor Group, West Pharmaceutical Services, Inc. and IntraPac International Corporation among others.
The global pharmaceutical packaging market has been analysed through following segments:
• By Raw Materials (US$ billion)
o Plastics and Polymers
o Paper and Paperboard
o Metal Foils and containers
• By Pharmaceutical Dosage Type (US$ billion)
o Liquid Dosage
o Solid Dosage
o Semi Solid and Pressurized Products
• By Packaging Types (US$ billion)
o Blisters Packs
o Pre-Fillable Syringes
o Medical Speciality Bags
o Vials and Ampuoles
o Pouches and Strip Bags
• By Geography (US$ billion)
o North America
o South America
o Middle East and Africa
o Asia Pacific