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The global pharmaceutical packaging market size is expected to reach USD 153.93 billion by 2027. The surging geriatric population coupled with the rising prevalence of diabetes and asthma will facilitate the healthy growth of the market, mentioned in a report, titled “Pharmaceutical Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Plastics, Glass, Metal, Paper & Paperboard,), By Product (Plastic Bottles, Caps & Closures, Pre-Fillable Inhalers, Pre-Fillable Syringes, Vials & Ampoules, Blister Packs, Bags & Pouches, Jars & Canisters, Cartridges,), By Packaging Type (Primary, Secondary, and Tertiary), By Drug Delivery Mode, and Regional Forecast, 2020-2027.” The market size stood at USD 90.23 billion in 2019 and is expected to exhibiting a CAGR of 6.4% between 2020 and 2027.
Introduction of Active Packaging Solution by Aptar CSP Technologies to Foster Growth
Aptar CSP Technologies, a major leader in material science and active packaging solutions announced the introduction of the first-of-its-kind combination oxygen scavenging and moisture adsorption active packaging solution. The trailblazing blazing technology leverages the company’s patented 3-phase Activ-Polymer™ platform within its Activ-Film™ product configuration. The new combined technology is built on the recent U.S. FDA approval of an HIV prevention medication that is likely to launch in Q1 2020 that applies the company’s Activ-Blister™ packaging solution to offer moisture adsorption and drug product stability. Moreover, the company has also integrated oxygen scavenging and moisture adsorption capability to the Activ-Film™ product intending to deliver a fully-integrated solution for drug products that are sensitive to both moisture and oxidation. The launch of new solutions will have a tremendous impact on the market owing to its superior packaging configurations.
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Acceptance of Generic Drugs to Spur Remunerative Opportunities
The growing adoption of generic drugs in developing countries owing to its cost-effectiveness will aid the expansion of the market. Generic medicines are pharmaceutical drugs that contain the same chemical ingredients, same dosage, intended use, and route of administration as the original drug, however generic drugs are affordable. The heavy investments in the manufacturing of generic drugs by prominent companies will contribute significantly to the market. Pharmaceutical packaging plays an important role in the manufacturing process of generic drugs to efficiently pack and protect drugs during its storage and transportation. Therefore, the increasing demand for all-purpose medicines will favor the growth of the market.
Strategies Implemented by Companies to Retain Standpoint
The main companies in the market are focused on investing heavily in research and development for the development of advanced pharmaceutical packaging solutions and technologies. Key players are dedicated to a diversified product portfolio, superior operational efficiency, and safe & novel technology development for pharmaceutical packaging applications to establish their position in the market. Moreover, the companies are also adopting expansion strategies, product development, partnerships, and acquisitions to enhance regional presence and product portfolio.
The Report Lists the Main Companies in the Pharmaceutical Packaging Market:
Further Report Findings:
The global market is segmented into:
Value (USD Billion)
By Product Type
By Drug Delivery Mode
By Packaging Type