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Pharmaceutical Packaging Market To Rise Due To Rising Demand For Pre-Fillable Syringes

Press Release   •   Feb 06, 2017 05:14 EST

MarketResearchReports.biz has added a report, titled ‘Global Pharmaceutical Packaging Market 2016-2020’ to their repository. This report estimates the pharmaceutical packaging market’s size on the basis of volume and value and provides a comprehensive review of the major opportunities, drivers, inhibitors, and challenges prominent within the market. The prime vendors operating in the market for pharmaceutical packaging, along with their strategic industry activities and recent developments are also presented via this study.

The introductory section of the report comprises the market overview section and value chain analysis for the pharmaceutical packaging market. As per the report, the market is poised to expand at a 6.0% CAGR from 2016 to 2020. It also includes an evaluation based on Porter’s five forces which cover the power of suppliers and buyers, the threat from emerging players, the threat from substitutes, and degree of competition within the market. Moving further, the report segments the market on the basis of product type into plastic bottles, blister packs, caps and closures, parenteral containers, pouches, pre-fillable inhalers, medication tubes, pouches, and other packaging. Amongst these, pre-fillable syringes emerged as the most demanded product type in the market. This is owing to a number of benefits associated with the usage of pre-fillable syringes such as less drug wastage, the convenience of drug administration, and their integration with systems such as auto-injectors and pens.

Moving further, on the basis of packaging material, the report segments the market into plastics, paper and paperboard, glass, and other pharmaceutical packaging materials. Amongst these, the segment of plastic pharmaceutical packaging constituted a share of approximately 61% in the market in 2015 owing to its availability in numerous grades, substantial barrier properties, chemical inertness, and the ability to be used for attractive packaging, which helps in the promotion and marketing of various drugs. The different grades of plastics utilized in packaging are PE, PP, PET, PVC, and polyolefin.

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In the next section of the report, the key drivers, trends, and challenges prevalent in the market have been presented, along with their impact analysis. The report states that the rising demand for pre-fillable syringes is a major factor fuelling the market for pharmaceutical packaging. In case of these syringes, glass is the most preferred packaging material and these syringes are being highly demanded within the Europe and the U.S. On the other hand, the growing count of substitute products within the market may impede the growth of the market in the forecast horizon. However, strict regulations imposed by governments might counter the risks of duplicates.

Part nine of the report presents the geographical segmentation of the market and segments the market into Western Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, in 2015, North America led the market and held a market share of approximately 35%. Within North America, the U.S. constituted the largest share. As per the report, the top five vendors dominant in the market are Gerresheimer, Bemis Healthcare Packaging, Owens-Illinois, Westrock, and West Pharmaceutical. The other key vendors mentioned in the study are Alexander, Air Packaging Technologies, and American Health Packaging, among others.

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