Pharmaceutical Plastic Packaging Market

Pharmaceutical Plastic Packaging Market - An Overview

The global pharmaceutical plastic packaging market is expected to witness strong growth during the forecast period between 2021 and 2031.

Demand for packaging in pharmaceutical industry is on the rise with products such as plastic bottles deployed to store different products such as medicines which has assisted growth of pharmaceutical plastic packaging market.

Future for global market seemed optimistic, but the outbreak of COVID-19 pandemic adversely affected growth in global pharmaceutical plastic packaging market. Rising number of cases worldwide led to disruptions in supply chain and delay in raw material supply to produce pharma products.

The delay in manufacturing also negatively impacted demand for pharmaceutical packaging solutions and affected market growth.

However, with subsequent decrease in cases and most population sections vaccinated thrice it is expected that raw materials will be supplied on time which could help production units in manufacturing pharma products that would help fuel the demand for pharmaceutical plastic packaging.

Pharmaceutical Plastic Packaging Market - Trends and Opportunities

Rising penetration of retail pharmacies, especially in developing economies is the key growth driver of global pharmaceutical plastic packaging market.

Also, increasing population sections suffering from different chronic disorders such as diabetes is expected to fuel the growth in pharmaceutical plastic packaging market, in the coming years.

In addition to this, government initiatives and measures such as offering funding to leading players for research and development undertakings could help trigger the growth in overall market, in years to come.

Other factors such as introduction of new medicine products and increasing disposable income could contribute to growth in overall pharmaceutical plastic packaging market, in future.

Plastic and polymer material segment is anticipated to emerge as largest revenue contributor to overall market due to increasing plastic resins demand to produce bottles, sachets, cartridges, and syringes.

Pharma manufacturing end-use segment is expected to emerge as largest contributor, in terms of revenue, to overall market owing to rising demand for medicines from patients in prominent countries worldwide.

Pharmaceutical Plastic Packaging Market - Competitive Landscape

Competition in overall pharmaceutical plastic packaging market is fragmented owing to increased presence of prominent players. Many of these players are expected to hold a large share in global market, in the coming years.

Growth strategies such as launch of new packaging solutions could assist leading players gain an edge over competitors and help create revenue-generating opportunities.

Research and development undertakings could be key, revenue-generating growth strategy for leading players in overall pharmaceutical plastic packaging market, in the years ahead.

Other strategies such as signing of collaborative agreements with smaller players could help well-established pharmaceutical plastic packaging market players in expanding their presence in global market and increasing their revenue shares.

Some of the leading players include Amcor Limited, Berry Plastics Group Inc., Graham Packaging Co., Dickenson and Co., and AptarGroup Inc.

Pharmaceutical Plastic Packaging Market - Regional Assessment

The global pharmaceutical plastic packaging market is classified into five regions, namely, North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.

North America is expected to be dominant region in global pharmaceutical plastic packaging market owing to developed pharmaceutical and biopharmaceutical industries in countries such as the U.S and Canada.

Asia Pacific is projected to witness significant growth in overall pharmaceutical plastic packaging market owing to increasing consumer awareness about staying healthy in countries such as India and China.

Europe is anticipated to witness strong growth in overall pharmaceutical plastic packaging market owing to increasing research and development undertakings in countries such as the U.K and Germany.

Other regions of the world such as Latin America and Middle East and Africa are projected to witness moderate growth in global market, in years to come.