Global Trade for Drugs & Medications Driving Plastic Packaging Solutions for Pharmaceutical Sector. FMI Releases the latest Information on its Quality and Quantity Analysis
Attributing to several benefits of pharmaceutical plastic packaging the overall attractiveness of the market is expected to remain high during the forecast period. By registering a CAGR of 5.8% the overall valuation of the global pharmaceutical packaging market is anticipated to reach US$ 96,339.16 million by 2033.
Increasing pressure to dispatch novel and sensitive medicines, especially those having less shelf life is pushing demand for active packaging solutions. Technological advancements in drug packaging along with supply chain and inventory tracking play a vital role in safe drug delivery from the lab to the market.
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During the pandemic, pharmaceutical and packaging industries faced challenges in the supply chain and the need to change the packaging. Limitations on transportation were creating insufficiency of the raw material and other resources, straining the pharmaceutical plastic packaging solution production processes.
In the first quarter of 2021, the pharmaceutical plastic packaging market did recover at a rapid pace, as various nations resumed their manufacturing activities. They also started taking initiatives for reforming regulations and allowing plastic packaging of drugs for quick distribution of medicines and eliminating Covid-19.
Key Takeaways from the Pharmaceutical Plastic Packaging Market Study Report
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Competitive Landscape for the Pharmaceutical Plastic Packaging Market Players
Gerresheimer AG, SCHOTT AG, Alpha Packaging Holdings Inc., Klöckner Pentaplast Group, Amcor Plc., Berry Global, Inc., Becton, Dickinson and Company, Parekhplast India Ltd, West Pharmaceutical Services, Inc., Wipak Group, Mondi Plc., Sealed Air Corporation, and Constantia Flexibles Group GmbH among others are some key players in the global pharmaceutical plastic packaging market.
In January 2020, Gerresheimer AG expanded its production capacities in plants based out of China and India for manufacturing pharmaceutical plastic packaging. Besides, in April 2020, Gerresheimer Group company Centor Inc., a plastic packaging manufacturer, expanded storage capacity. It also introduced a pre-fillable polymer syringe at a Germany-based plant.
Recent Developments by the Pharmaceutical Plastic Packaging Industries
Increasing demand for child-resistant packaging among consumers is one of the factors driving the pharmaceutical plastic packaging market during the forecast period. Pharmaceutical plastic bottles and containers with an added layer of security are provided with an advanced design to make them child-resistant. As per the United States FDA, pharmaceutical plastic packaging manufacturers have to highlight ‘child-resistant packaging’ on the product label for appraising the consumer.
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Key Segments Covered
By Product:
By Material Type
By Packaging Type:
By Drug Delivery Mode:
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Apr 10, 2023