DUBLIN–(BUSINESS WIRE)–May 28, 2021–
The “Pharmaceutical Plastic Packaging Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com‘s offering.
The Pharmaceutical Plastic Packaging Market is expected to witness a CAGR of 8.24% over the forecast period 2021 – 2026
Demand for plastic packaging is witnessing significant growth from the pharmaceutical industry in the forecast period because of its unmatched ability to be form both flexible and rigid containers. Additional features that led increased adoption in pharma is barrier against moisture, high dimensional stability, high impact strength, resistance to strain, low water absorption, transparency, resistance to heat and flame, and extension of expiry dates.
Pharmaceutical product demand is driving the demand for plastic bottles. In adherence to such growth packaging providers have been observed to have increased their production capacities. According to Gerresheimer, in December 2019, it opened a new production site to help bolster the production capacity, due to the high demand for its Triveni round containers that are used in pharmaceutical packaging.?
Pre-pandemic COVID-19, the industry led the growth concerning the allied growth reported in e-commerce industry, which caused an increased interest in sustainable materials and packaging formats for pharma delivery.
Post-pandemic, there has been a continued surge in demand for pharmaceutical packaging such as containers, cans, among others. Additionally, with the need for biologics and vaccines, the packaging companies are witnessed investing in the sterile format whilst expanding their production capacity.
In the near future, the development of better and more advanced healthcare infrastructure, coupled with the growth of pharmaceutical companies through alliances and partnerships (to maintain a stronghold, domestically and internationally), is set to boost the growth of the pharmaceutical plastic packaging market.
Furthermore, the new regulations restricting the sale and availability of cough syrups has led to market for plastic packaging in the pharmaceutical sector to be negatively affected. Cough syrups like Robitussin A.C., Dimetapp-C, and acetaminophen with codeine are sedating pain relievers packaged in plastic containers.
Key Market Trends
Polyethylene Terephthalate (PET) Expected to Witness Significant Growth
- It is expected that pharma packaging will shift towards more sustainable materials by moving away from the plastic, which the industry traditionally has been heavily dependent on for design and manufacturing. But, the industry would continue the application of polyethylene terephthalate (PET) owing to its capability of breaking down its molecular level back into PET.
- For instance, in March 2020, Amcor developed a new bottle to pack multivitamin. The material used for the same was post consumer regrind (PCR). PCR comprises recycled materials including PET beverage bottles used by the consumer and have been recycled to produce a new product.
- As of January 2020, Gerresheimer is also expected to further expand its operations in Asia via two plants in China and India to manufacture plastic primary packaging for pharmaceutical products. Such steps are undertaken in order to maintain a steady supply to pharma companies. The facilities cater to production of standard range of different containers and closures, PET bottles, eye droppers, nasal sprays, and vaporizers as well as multiple customizations.
While the pharmaceutical plastic packaging market is fragmented, established companies are focusing on innovation and acquisition. Companies are investing a large amount of their resources and money in the R&D to innovate new products meeting with the environment and government compliance. Key players are Amcor Limited, AptarGroup, Inc., Gerresheimer AG, etc.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand For Rigid & Flexible Pharmaceutical Plastic Products
4.2.2 Development of Better and More Advanced Healthcare Infrastructure
4.3 Market Restraints
4.3.1 Regulations Restricting the Sale and Availability of Pharmaceutical Plastic Products
4.3.2 Fluctuations in Raw Material Cost Due to Suppliers Bargaining Power
4.4 Industry Value Chain / Supply Chain Analysis
4.5 Industry Attractiveness – Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Raw Material
5.1.1 Polypropylene (PP)
5.1.2 Polyethylene Terephthalate (PET)
5.1.3 Low Density Polyethylene (LDPE)
5.1.4 High Density Polyethylene (HDPE)
5.1.5 Other Types of Materials
5.2 By Product Type
5.2.1 Solid Containers
5.2.2 Dropper Bottles
5.2.3 Nasal Spray Bottles
5.2.4 Liquid Bottles
5.2.5 Oral Care
5.2.7 Vials & Ampoules
5.2.10 Caps & Closures
5.2.11 Other Product Types
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Gerresheimer AG
6.1.2 Amcor Limited
6.1.3 Berry Plastics Group, Inc.
6.1.4 Aptar Pharma
6.1.5 O.Berk Company, LLC
6.1.6 Alpha Packaging
6.1.7 Graham Packaging Company
6.1.8 COMAR, LLC
6.1.9 Alpack Plastic Packaging
6.1.10 Drug Plastics Group
6.1.11 Plastipak Holdings, Inc.
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/35kt2v
View source version on businesswire.com:https://www.businesswire.com/news/home/20210528005217/en/
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INDUSTRY KEYWORD: PACKAGING PHARMACEUTICAL HEALTH MANUFACTURING
SOURCE: Research and Markets
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PUB: 05/28/2021 07:27 AM/DISC: 05/28/2021 07:27 AM