Pharmaceutical Packaging Market Is Anticipated 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: http://www.grandviewresearch.com/industry-analysis/pharmaceutical-packaging-market
Further key findings from the study
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
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-pharmaceutical-packaging-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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