Pharmaceutical Packaging Market

New Product Development and Investment & Expansion Among the key Strategies Adopted by the Leading Players to Strengthen their Position in the Pharmaceutical Packaging Market.

The pharmaceutical packaging market is projected to grow from USD 83.6 billion in 2019 to USD 111.9 billion by 2024, at a CAGR of 6.0%. The major drivers for the pharmaceutical packaging market include increasing demand for pharmaceuticals in emerging markets owing to better access to healthcare, rising healthcare expenses, and growing consumer awareness regarding healthier lifestyle. Also, advanced drug delivery and innovative packaging solutions with higher patient convenience drive the market for pharmaceutical packaging.

Pharmaceutical packaging is used for different drug delivery modes such as oral drugs, pulmonary, transdermal, injectables, topical, nasal, ocular/ophthalmic, and IV drugs. Companies such as Berry Global Inc. (US) Amcor plc (Australia), AptarGroup, Inc. (Us), Gerresheimer AG (Germany) and Schott AG (Germany) operating in the pharmaceutical packaging market have adopted both organic and inorganic growth strategies such as new product launch, merger & acquisition, investment & expansion, agreement & collaboration, and joint ventures to serve their customers efficiently and increase their market shares.

To know about the assumptions considered for the study download the pdf brochure

Berry Global Inc. (US) has gained a strong foothold in the pharmaceutical packaging market. The company has a strong product portfolio for pharmaceutical packaging. The company operates through its multiple production sites and has extensive R&D infrastructure, which helps the company attain economies of scale. It focuses on offering customized solutions, and consistent customer service orientation to cater to consumer demand and achieve growth in the market.

In July 2019, Berry (US) acquired RPC Group PLC (UK), a major provider of rigid packaging solutions to a wide range of end-use industries such as food, healthcare, beverage, and others. This acquisition will enable Berry to capture higher market share through an expanded product portfolio in existing and complementary product lines.

Gerresheimer (Germany) is another major player operating in the market. The company has a strong global presence and offers a wide range of innovative pharmaceutical packaging products such as bottles, vials, ampoules, and others. The company is focusing on organic growth strategies of new product launch and investment & expansion for increasing its geographical footprints and strengthen product portfolio and hence, widening its presence in various regions such as APAC and North America and increasing its revenue.

In October 2018, Gerresheimer announced plans to invest in Changzhou, China to open a new production facility to manufacture plastic bottles & containers. This plant will begin its operations by the second half of 2019 and will help the company to serve the high demand for pharmaceutical packaging in Asia.

Related Reports:

Pharmaceutical Packaging Market by Type (Plastic Bottles, Blister Packs, Labels & Accessories, Caps & Closures, Pre-filled Syringes, Vials, Ampoules), Raw Material, Drug Delivery Mode (Oral Drugs, Injectables, IV Drugs), Region - Global Forecast to 2024

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Report Code
CH 3482
RI Published ON
7/30/2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Pharmaceutical Packaging Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved