Few Regional Players Dominate the Market Holding of nearly 40% Revenue Share Despite Presence of about 300 Competitors Comprising a Large Number of Country-Niche Players and Some Specialist Players, finds a recent market study on Global Pharmaceutical Packaging Market by Ken Research
Pharmaceutical packaging is the economical means of providing protection, identification information, presentation, convenience, and compliance for the product during transport, storage, display, and until the product is consumed. The end-user of pharmaceutical packaging includes pharma manufacturers, contract packaging, institutional pharmacy, retail pharmacy, and others.
Global Players that constitute about 10% of the Total Number of Competitors Hold nearly 35% revenue share While Regional Companies Having a Strong Presence Hold the largest revenue share of 40%
A comprehensive competitive analysis conducted during the Research Study found that the Global Pharmaceutical Packaging Market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in pharmaceutical packaging. The regional players comprise about 40% in terms of the number of companies and hold around 45% of the market revenue share followed by large global players that account for nearly 35% of the market revenue.
Most of the global players are expanding their pharmaceutical packaging business through strategic partnerships, acquisitions, sustainable packaging product launches, and others, whereas country-niche players are offering competitive price packaging products to cater to the demand for country-level pharmaceutical manufacturers.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
Leading Global Players Focus on Introducing Sustainable and Eco-Friendly Pharmaceutical Packaging Products
Detailed comparative analysis of key competitors available within the Research Study shows that key players such as Amcor plc, West Pharmaceutical Services, Inc., AptarGroup, Inc., and others are highly focused on providing new packaging for various end-users and are deeply involved in strategic developments such as partnership, expansion, and others. Furthermore, several companies are aggressively involved in research and development for providing sustainable and high-quality pharmaceutical packaging products that also comply with government regulations to fulfill the growing demand of end-users.
- In April 2021, Amcor plc launched the AmSky blister system, which helps in eliminating polyvinyl chloride (PVC) by using polyethylene (PE) thermoform blister packaging. The launch of a new recyclable healthcare packaging solution added greater value to sustainability by benefiting the entire recycling process. The innovation also benefits to reduce up to 70% carbon footprint. The company aimed to introduce sustainable packaging in the pharmaceutical industry that also meets all the stringent government regulations
Request for Sample Report@ https://bit.ly/3MqzE7l
COVID-19 Pandemic Surged the Demand for New Packaging Solutions for Vaccines and Pharmaceutical Products
The COVID-19 pandemic has significantly increased the demand for pharmaceutical drugs, nutraceutical products, vaccines, and others. Initially, the pandemic resulted in crises such as a lack of workforce, shortage of raw materials, restrictions on transportation, inflated prices of raw materials, and others, which have disrupted the supply chain for the pharmaceutical packaging market. However, the increase in the vaccine approval process has increased the demand for primary packaging such as glass bottles, caps & closures, and others as vaccines rely on different administration routes namely oral, inhaled, transdermal, and injectable. In addition, the rapidly growing e-commerce sector vertical created immense opportunities for pharmaceutical packaging to deliver drugs and medicines products safely.
The increasing need for COVID-19 vaccines and other pharmaceutical products along with rising government initiatives to approve vaccines has ultimately increased the demand for pharmaceutical packaging.
- In December 2020, World Health Organization (WHO) approved the emergency use of the Comirnaty COVID-19 mRNA vaccine. The Pfizer/BioNTech vaccine received the first emergency use approval since the outbreak.
Increased Government and Manufacturers Initiatives Promoted Pharmaceutical Packaging Growth and Development
- The USA President and governmental bodies have promoted glass pharma packaging initiatives. President Trump announced that Corning, the glass manufacturer based in New York, invested US$ 500 million and partnered with Merck and Pfizer to create a sustainable packaging solution i.e., glass pharmaceutical packaging products. The companies aimed to modernize glass packaging for the pharma industry and to offer solutions that enhance the delivery and storage of drugs.
- Manufacturers of pharmaceutical packaging are trying to develop innovative sustainable solutions such as plant-based packaging that uses sugarcane, cassava, and corn starch. In October 2021, Good Natured Products Inc. and Jones Healthcare Group partnered to transform Canada’s pharmaceutical industry by expanding sustainable solutions. The company aimed to optimize its packaging design by removing chemicals of concern and introducing plant-based solution packaging which can be easily recyclable.
- R Chandi Prasad, Head of Packaging Development of Aurobindo Pharma stated that “manufacturers are associating with governmental and non-governmental organizations to collect pharma packaging for their disposal, segregation, and recycling”.
Request for Sample Report@ https://bit.ly/3MqzE7l
Key Topics Covered in the Report
- Snapshot of Global Pharmaceutical Packaging Market
- Industry Value Chain and Ecosystem Analysis of Pharmaceutical Packaging Market
- Market size and Segmentation of the Global Pharmaceutical Packaging Market
- Historic Growth of Overall Global Pharmaceutical Packaging Market and Segments
- Competition Scenario of the Pharmaceutical Packaging Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Pharmaceutical Packaging Industry
- Overview, Product Offerings, and Strategic Developments of Key Competitors
- COVID-19 Impact on the Overall Global Pharmaceutical Packaging Market
- Future Market Forecast and Growth Rates of the Global Pharmaceutical Packaging Market and by Segments
- Market Size of Application/End-User Segments with historical CAGR and Future Forecasts
- Analysis of Pharmaceutical Packaging Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Production/Supply and Consumption/Demand Hubs in Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Pharmaceutical Packaging Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Major Companies Profiled in the Report
- Amcor plc
- Becton D
- AptarGroup, Inc.
- Gerresheimer AG
- West Pharmaceutical Services, Inc.
- WestRock Company
- CCL Industries
- Berry Global, Inc.
- Nipro Europe Group Companies
- Mondi plc
Notable Emerging Companies Mentioned in the Report
- Bormioli Pharma
- Keystone Folding Box Co.
- Klöckner Pentaplast Group
- Schott AG
- International Paper
- Origin Pharma Packaging
- Lonza Group AG
- Drug Plastics Group
- Vetter Pharma International
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Pharmaceutical Manufacturers
- Pharmaceutical Suppliers
- Retail Pharmacy
- Institutional Pharmacy
- Pharmaceutical Packaging Manufacturers
- Pharmaceutical Packaging Distributors
- Pharmaceutical Associations
- Governmental Regulatory Bodies
- Pharmaceutical Packaging Investors
- Pharmaceutical Logistics Service Providers
- Pharmaceutical Packaging Investors
- Pharmaceutical Packaging R&D Companies
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For More Information on the Research Report, refer to below links: –
Global Pharmaceutical Packaging Market: Ken Research
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
