According to a new report Global Pharmaceutical Packaging Market, published by KBV research, The Global Pharmaceutical Packaging Market size is expected to reach $178.1 billion by 2026, rising at a market growth of 10.4% CAGR during the forecast period.
The companies operating in the market are majorly outsourcing the pharmaceutical packaging activities to save extra cost and time. Increasing preference for outsourcing the activities of packaging to the specialized contractors rather than investing in setting up the infrastructure for packaging is expected to propel the growth of this segment during the forecast period.
The Plastics & Polymers market dominated the Global Pharmaceutical Packaging Market by Material 2019. The increasing demand for superior healthcare facilities along with the booming population is expected to boost the growth of the market during the forecast period. Additionally, the rising government initiatives in the emerging nations for the development of this industry are estimated to strengthen the demand for products during the forecast period. The Paper & Paperboard market is experiencing a CAGR of 9.7% during (2020 - 2026). Additionally, The Glass market would exhibit highest CAGR of 11.1% during (2020 - 2026).
On the basis of region, North America emerged as the leading region in 2019. The presence of major markets like Canada, Mexico, and the U.S in this region, encourages the growth of the market. Among all, the U.S. is the largest pharmaceutical market in the world. High per capita income, a large healthcare system, and huge investments in the development of drugs, are some of the factors that will boost the market growth. Moreover, the presence of many big giants in this region will further propel the growth of the regional pharmaceutical packaging market during the forecast period.
Full Report: https://www.kbvresearch.com/pharmaceutical-packaging-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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