Global Pharmaceutical Packaging - Market Size, Share & Trends with Forecast to 2030
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Global Pharmaceutical Packaging Market; By End User Vertical (Retail Pharmacy, Institutional Pharmacy, Pharmaceutical Manufacturing, Contract Packaging, and Others); By Product Packaging (Primary, Secondary, and Tertiary); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030
Pharmaceutical packaging can be described as packaging products manufactured using medicinal-compatible materials to secure, identify, and ensure the quality of the medicinal products contained within. They are made to protect the temperature and light-sensitive drugs for the external environmental condition. The stored product can be protected from physical damage, chemical transaction, biological effects, and climate hazards using primary or secondary packaging.
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The Pharmaceutical packaging market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. According to the report, in line with the growth of numerous end-users of Pharmaceutical packaging throughout the world, the demand is expected to rise. Due to continuous rising demography, rising disposable income in developing economies especially of Asian countries is expected to create demand from the end-user in the market.
Pharmaceutical packaging Market: Segments
Global market has been segmented on the basis of product packaging, end user vertical, and by location. It has been further segmented on the basis of region into North America, Europe, Asia-Pacific, Mid East and Africa.
By Product Packaging (in %), global Pharmaceutical packaging Market, 2019
The Primary segment is anticipated to register XX% of the volume share and is expected to grow at a highest CAGR.
Global Pharmaceutical packaging Market is segmented by product packaging into: Primary, secondary, and tertiary
Primary Packaging is expected to dominate the market in 2019 and is anticipated to maintain its dominance throughout the projected period. This growth is attributed due to several reason out of which the segment grows mainly due to several benefits like prevention from contamination, quality control, supply chain transport protection, and improved end user efficiency. Due to increased patient adherence and comfort, surge in communicable and other chronic diseases like migraine, cancer pain, asthma, etc. has resulted in the new mode of oral drug delivery which has created further demand for primary packaging products like bottles, syringes, etc.
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Last Update : Aug 31, 2020
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