Market Leaders - Sustainable Pharmaceutical Packaging Market
The global Sustainable pharmaceutical packaging market size is projected to grow from USD 71.6 billion in 2022 to USD 146.3 billion by 2027, at a CAGR of 15.4% during the forecast period. The growing awareness about environmental sustainability and the need to reduce waste has led to an increase in demand for sustainable packaging in the pharmaceutical industry. Also Governments around the world are implementing regulations to reduce the environmental impact of packaging and to promote the use of sustainable packaging materials are fueling the demand for sustainable pharmaceutical packaging market.
The sustainable pharmaceutical packaging market in the Asia Pacific is estimated to witness a high CAGR, in terms of value, between 2022 and 2027, increasing government initiatives towards sustainability, the growing population, changing lifestyles, growing contract manufacturing activities, and the rising aging population.
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There are different players that operate in the sustainable pharmaceutical packaging market. The major market players include Schott AG (Germany), Amcor PLC (Switzerland), AptarGroup,Inc (US), West Pharmaceutical Services, Inc. (US), Berry Global (US), Gerresheimer AG (Germany), Catalent,Inc (US), and WestRock (US). among others. Various strategies, such as new product launch, expansion, and product development are adopted by several players to gain a competitive edge to increase their global footprint and sustain growth in sustainable pharmaceutical packaging market.
Gerresheimer AG is a leading company for medicine packaging, drug delivery devices, and providing solutions for pharma. The company is primarily engaged in the manufacturing and supply of glass and plastic packaging solutions for the global pharmaceutical and healthcare industries. It operates through three business segments, namely, plastics & devices, primary packaging glass, and advanced technologies. It conducts its pharmaceutical packaging business through its primary packaging glass and plastics & devices segments. The company operates 36 manufacturing plants in 16 countries across Europe, the Americas, and Asia. The operations are in Mexico, Poland, Switzerland, India, Singapore, the Czech Republic, Belgium, Brazil, China, Denmark, France, North Macedonia, Spain, and the US. It has more than 10,000 employees, out of which 4,504 are in the plastic & devices segment and 5,333 in the primary packaging glass segment.
SCHOTT AG is a manufacturer of high-tech materials for specialty glasses. The company operates as a subsidiary of Carl-Zeiss-Stiftung (Germany). It operates through four business segments, namely, precision materials, optical industries, home appliances, and trade & others. The packaging business is conducted through the precision materials business division. SCHOTT AG serves a multitude of industries, ranging from healthcare, home appliances & living, and consumer electronics to semiconductors & datacom, optics, industry & energy, automotive, and astronomy & aerospace. SCHOTT established its subsidiary SCHOTT Pharma to advance its growth strategy for its pharma business, especially in pharma drug containment and delivery solutions. SCHOTT Pharma’s product portfolio ranges from drug containment solutions to drug delivery systems such as pharmaceutical syringes, cartridges, vials, and ampoules, with more than 13 billion drug containers produced every year. SCHOTT AG offers glass tubing and primary packaging, including syringes, vials, ampoules, and cartridges, for the pharmaceutical industry. SCHOTT has manufacturing sites and sales offices in 34 countries and 600 production sites in 13 countries. The company has a total of 17,300 employees working globally.
Related Reports:
Sustainable Pharmaceutical Packaging Market by Raw Material (Plastics, Paper & paperboard, Glass, Metal), Product Type, Process (Recyclable, Reusable, and Biodegradable), Packaging Type(Primary Packaging), and Region - Global Forecast to 2027
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