The global Pharmaceutical Contract Packaging Market size is expected to reach US$ 47.5 billion by 2027 and is expected to grow at an impressive double-digit rate of 6.8% from 2020 to 2027.
The study includes drivers and restraints of this market. The study provides an analysis of the global Pharmaceutical Contract Packaging Market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2020 is considered as the base year.
If you are aiming to enter the global Pharmaceutical Contract Packaging Market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Pharmaceutical Contract Packaging are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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Growth Factors
Global pharmaceutical industry is shifting at an unparalleled pace. Novel biological treatments for cancer, and a substantial upsurge of prevalent diseases like diabetes generates demand for processing and packaging and solutions to realize the several requirements across the globe. Revolutionary changes are happening in the sector of biological therapies concerning the cancer treatment and autoimmune diseases, also rare illnesses that only distress a very small number of patients. Subsequently, numerous global drug manufacturers are presently concentrating on the growth of novel formulations and have sub contracted their closing, filling, and packing tasks of leading products to contract manufacturers, which are founded in the markets such as India and China. All manufacturers need extremely flexible equipment that can adjust to new-fangled products and packing formats rapidly.
Snowballing strict quality necessities and subcontracting of pharmaceutical packaging to contract packagers in emergent nations are anticipated to support the market during years to come. Pharmaceutical players are subcontracting the packaging operations to contract packagers to decrease the total speed and cost of production to market. This is predicted to subsidize to the market expansion during next few years. Additionally, deficiency of in-house packaging competences, proficiency, and budget restrictions are the few crucial problems confronted by small pharmaceutical firms in the market. Contract packaging service providers are considered as an operative way to limit such problems of the small companies due to the affordable service offering.Deficiency of resources and finances has encouraged several small pharmaceutical players to recognized mutually advantageous associations with CDMOs and CPOs.
Report Highlights
- Asia Pacific expected to record fastest growth rate due to the intensifying requirement for medicines amongst COVID-19 epidemic and snowballing dependence on contract manufacturing organizations owed to better-quality competence and output
- The primary packaging segment grasp the major market revenue share due to the upsurge in sub contracting of primary wrapping tasks to CPOs
- The glass segment held the considerable revenue share of more than 35% in 2019 owing to mid sized and small pharmaceutical companies who do not possess glass wrapping abilities
- North America hit largest revenue share of the global pharmaceutical contract packaging market in 2019
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Key Market Players and Strategies
- AmerisourceBergen Corp.
- SCHOTT AG
- WestRock Co.
- Becton, Dickinson and Co.
- Constantia Flexibles Group GmbH
- Bilcare Ltd.
- CCL Industries Inc.
- Berlin Packaging
- FedEx Corp.
- Others
Major Market Segments Covered:
By Product
- Primary Packaging
- Ampoules
- Bottles
- Blister Packs
- Others
- Secondary Packaging
- Tertiary Packaging
By Material
- Paper & Paperboard
- Plastics & Polymers
- Aluminum Foil
- Glass
- Others
Regional Analysis:
The geographical analysis of the global Pharmaceutical Contract Packaging Market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global Pharmaceutical Contract Packaging Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global Pharmaceutical Contract Packaging Market in 2027?
- What is the expected CAGR for the Pharmaceutical Contract Packaging Market between 2020 and 2027?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global Pharmaceutical Contract Packaging Market?
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