Pharmaceutical Packaging Market To Reach $158.8 Billion By 2025: Grand View Research, Inc.
The global pharmaceutical packaging market is expected to
reach USD 158.8 billion by 2025, according to a new report by Grand View
Research, Inc. The growing demand for pharmaceuticals coupled with increased
emphasis on product packaging is expected to drive market growth.
Pharmaceutical packaging market
comprises wide array of products. The demand for these products is expected to
grow rapidly on account of fortification of medicines and drugs against
exterior impacts. However, the packaging materials and products need to bear
the brunt of stringent government regulations and growing market for
counterfeit pharmaceuticals. Counterfeit pharmaceuticals are expected to pose a
major threat to manufacturers.
North America is a dominant
region in the market backed by thriving pharmaceutical industry and rapid new
product introduction. Asia Pacific is anticipated to grow rapidly on account of
rising pharmaceutical manufacturing in China and India. The growing trend of
contract packaging in the pharmaceutical industry is expected to further
augment market growth in Asia Pacific.
Germany pharmaceutical packaging market, by material,
2014 - 2025 (USD Billion)
Browse full research report on Pharmaceutical Packaging Market
Further key findings from the report suggest:
- Aluminum foil
material segment is projected to grow at a CAGR of 7.2% from 2017 to 2025
owing to rising demand for packaging of special purpose drugs.
- Paper and
paperboard is the second largest product segment and is expected to reach
USD 40.83 billion by 2025 due to growing demand in secondary packaging
products.
- Blister packs
in the primary pharmaceutical packaging product category is expected to
grow at a CAGR of 9.2% from 2017 to 2025 on account of growing demand in
oral drugs.
- The market
share of Asia Pacific is expected to reach 33% in 2025 owing to growing
demand for pharmaceuticals and presence of large number of plastic
manufacturers
- The Middle
East & Africa region is expected to grow at a CAGR of 5.6% from 2017
to 2025 backed by growing demand for medicines in Tanzania, Nigeria and
South Africa.
- The market is
highly dispersed due to the presence of a large number of small and large
manufacturers
For more information: http://www.grandviewresearch.com
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