The Latin America, Middle East and Africa Pharmaceutical Packaging Market would witness market growth of 13.9% CAGR during the forecast period (2020-2026). Increasing health awareness and the rising demand for convenient products in the pharmaceutical packaging market encourages brands to differentiate or enhance their products by developing new packaging material.
In addition, the increasing awareness about the importance of saving the environment and the implication of updated or new regulatory standards for recycling packages are expected to boost the pharmaceutical packaging industry.
Companies are including new packaging designs to meet the special requirements of the handicapped and elder population, which makes those products more convenient to use. A company’s measure to avoid counterfeiting is also a factor that improves the competition in the market. The new innovations in the packaging style like radiofrequency identification technology, child-resistant packaging (CRP), and others with enhanced properties have contributed to the growth of the market. The adoption of regulatory regulation in pharmaceutical packaging, coupled with the standard of packaging recycling is also boosting the growth of the pharmaceutical packaging market.
Based on Material, the market is segmented into Plastics & Polymers, Paper & Paperboard, Glass, Surveillance & Monitoring, and Others. Based on Product, the market is segmented into Plastic Bottle, Specialty Bags, Labels, Blister packing, Parenteral Container, Closures, and Other Products. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The Plastics & Polymers market dominated the South Africa Pharmaceutical Packaging Market by Material 2019, thereby, achieving a market value of $821.9 million by 2026. The Paper & Paperboard market is experiencing a CAGR of 14.2% during (2020 - 2026). Additionally, The Glass market would showcase highest CAGR of 15.4% during (2020 - 2026).
Free Valuable Insights: Pharmaceutical Packaging Market in LAMEA is expected to register a CAGR of 13.9% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Becton, Dickinson and Company, CCL Industries Ltd., Amcor PLC, AptarGroup, Inc., O-I Glass, Inc. (Owens Illinois, Inc.), West Pharmaceutical Services, Inc., Berry Global Group, Inc., WestRock Company, International Paper Company, and Comar, LLC.
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