Pharmaceutical Packaging market size, share, growth, trends & forecast 2022

Technological advancements in pharmaceutical packaging solutions offer immense innovative and advanced applications to the pharmaceutical & bio-pharmaceutical industries to improve their packaging standards
BANGALORE, India - Dec. 25, 2019 - PRLog -- This market is expected to witness notable growth in the coming years, owing to the increased R&D, new innovations in packaging materials, growth in generic market, and rise in trend of contract packaging. Growth in demand for reusable and eco-friendly packaging is also expected to drive the market.

Global pharmaceutical packaging market is expected to reach $104,882 million by 2022 from $68,749 million in 2015, growing at a CAGR of 6.27% from 2016 to 2022.

The impact of these drivers is expected to increase significantly due to increase in awareness about various diseases, rise in self-medication, and growth in usage of OTC drugs. The cost of pharmaceutical packaging is expected to reduce with the advancement in technology and eco-friendly packaging. The introduction of nano-enabled packaging is projected to have a positive impact on this market

Pharmaceuticals packaging market is segmented based on product type and geography. Based on product type, it consists of plastic bottles, parenteral containers, blister packaging, specialty bags, closures, labels, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Increase in healthcare investments and medicinal advancements are key factors that fuel the growth of pharmaceutical packaging market. In LAMEA, the market is anticipated to grow at a CAGR of 7.14% between 2016 and 2022.

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