Pharmaceutical Packaging Market Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2027

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Pharmaceutical Packaging Market Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2027

The global pharmaceutical packaging market size is expected to reach USD 153.93 billion by 2027, exhibit a CAGR of 6.4% during the forecast period.

The global pharmaceutical packaging market size is expected to reach USD 153.93 billion by 2027, exhibit a CAGR of 6.4% during the forecast period. The growing adoption of novel and generic drugs in developing countries will have an excellent impact on the global market, states Fortune Business Insights, in a report, The market size stood at USD 90.23 billion in 2019.

Regional Analysis:

Heavy Demand for Packaging Products to Aid Expansion in North America

The market for pharmaceutical packaging in North America is expected to hold the largest share during the forecast period owing to the rapidly flourishing pharmaceutical industry. The increasing demand for packaging products will further enable speedy expansion in the region. The growing healthcare spending and rising prevalence of diseases will further spur demand in the region. The increasing utilization of pharmaceutical products such as plastic bottles & containers, vials & ampoules, and pre-fillable syringes will bolster the healthy growth of the market in North America. Asia Pacific is expected to hold a significant share in the global market owing to the growing pharmaceutical industry in countries such as China, Japan, and India. The rising investments by pharmaceutical manufacturing companies will contribute positively to the market growth.

Key Development:

June 2020: SCHOTT announced agreements with leading pharmaceutical companies, including partners of ‘Operation Warp Speed’ to deliver 2 billion doses of pharma vials packaging to COVID-19 vaccines

The Report Lists the Key Companies in the Pharmaceutical Packaging Market: