Global pharmaceutical tablets packaging market: Introduction
The global healthcare packaging market has undergone significant transformation in the past few years. Rise in consumer expectations has compelled pharmaceutical tablet packaging manufacturers to innovate and produce packaging solutions which are considered desirable in today’s world. The characteristics of an ideal pharmaceutical tablet packaging solution are – easy dispensing, child resistance, hermetic seal, and consumer friendliness (especially senior consumers), among others. Pharmaceutical tablets consumption has registered solid growth in the last decade, with growing preference for small sized packs. There are two key types of pharmaceutical tablet packaging – strip packaging and bottle packaging. Some of the features that increase preference for a packaging solution among consumers are – high product integrity, low possibility of accidental misuse, patient compliance, and product protection. Manufacturers of pharmaceutical tablets packaging solutions emphasize on tamper evident packaging solutions. The global pharmaceutical tablets packaging market is expected to witness a positive outlook, during the forecast period.
Global pharmaceutical tablets packaging market: Dynamics
There are several factors that are anticipated to drive the growth of the global pharmaceutical tablets packaging market during the forecast period. Increasing demand for pharmaceutical tablets is expected to positively impact the growth of the global pharmaceutical tablets packaging market. Key pharmaceutical tablets packaging manufacturers emphasize on consumer convenience. The demand for tamper evident packaging solutions, which have key information such as – dosage information, expiry dates, and other information, printed on them, is expected to drive the global pharmaceutical tablets packaging market during the forecast period. The global pharmaceutical tablets production output has been increasing steadily, fuelling the need for mass-production of materials. The advantage that pharmaceuticals companies have with generic and over-the-counter products is faster production, which results in more sales, and overall per unit production cost. Therefore, tablet consumption has enjoyed growth across the world. The same trend is expected to bolster the growth of the global pharmaceutical tablets packaging market, over the forecast period.
Despite the positive outlook, there are certain factors, which might affect the growth rate of the global pharmaceutical tablets packaging market. The pharmaceutical tablets packaging market is subject to disruption by technological advancements in drug delivery.
Global pharmaceutical tablets packaging market: Segmentation
The global pharmaceutical tablets packaging market has been segmented as –
On the basis of packaging type, the global pharmaceutical tablets packaging market has been segmented as -
- Strip packaging
On the basis of material used, the global pharmaceutical tablets packaging market has been segmented as -
Global pharmaceutical tablets packaging market: Geographical Outlook
The global pharmaceutical tablet packaging market has been divided into seven core regions such as -
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
The North America pharmaceutical tablets packaging market is expected to lead the global pharmaceutical tablets packaging market during the forecast period. This is attributed to the high volume of over-the-counter products, in the United Sates alone. The Asia Pacific excluding Japan pharmaceutical tablets packaging market is expected to closely follow the North America pharmaceutical tablets packaging market, owing to the increased government efforts to enhance production of tablets in countries such as China and India. This is expected to generate a sizeable demand for pharmaceutical tablet packaging solutions in the region. The Middle East region is also expected to contribute to the growth of the global pharmaceutical tablets packaging market. The Japan pharmaceutical tablets packaging market is expected to witness sluggish growth over the forecast period, due to high market saturation. However, in terms of packaging penetration, it is anticipated to score more than the Asia Pacific region.
Global pharmaceutical tablets packaging market: Key Players
Few of the key players operating in the global pharmaceutical tablets packaging market are – Amcor Ltd., Voges kunststof verpakkingen, and Uflex Ltd., among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.