Description :
Global pharmaceuticals packaging market is expected to reach $ 104,882 million by 2022 from $ 68,749 million in 2015 , growing at a CAGR of 27 % from 2016 to 2022 . Pharmaceutical packaging is carried out to protect medicines from environmental changes and to maintain the physical & chemical stability of the products ( drugs & biologicals ). It further helps to attain the safety of medicines during transit , distribution , and storage . The pharmaceutical industry is on a rapid rise , thus positively impacting the growth of the pharmaceutical packaging market . The demand for pharmaceutical packaging is increasing , and is expected to continue to increase as companies rely more on packaging and labeling , and media to protect and promote their products .
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Advanced manufacturing processes and product innovations have resulted in the growth of the pharmaceutical packaging industry . Growth in generic drugs market and rapid increase in drug delivery market are further expected to fuel market growth . Some of the recent innovations in this market are color-changing packages , condition monitoring RFID tags , and blister packaging with child locks . For instance , Ecobliss launched the “ locked4kids ” packaging solutions for the pharmaceutical industry , which functions as an effective childresistant solution . The pharmaceutical industry is undergoing significant changes and is expected to accommodate demographic , epidemiological , and economic shifts in the world . However , the industry players are upgrading their manufacturing practices to match the standards from time to time to produce world-class products . The packaging industry needs to overcome challenges such as the availability and prices of raw materials and the changing rules and regulations regarding the product approval & marketing of pharmaceuticals . The demand to develop sustainable , eco-friendly packaging provides impetus to pharmaceutical packaging manufacturers . The opportunities in pharmaceutical packaging market are expected to increase from the pre-fillable syringes and parenteral vials , which will continue to expand with advances in biotechnology , owing to the introduction of new therapies that need to be injected .
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The global pharmaceutical packaging market is segmented based on product type and geography . The segments by product type include blisters , closures , labels , plastic bottles , and parenteral containers . Geographically , the market is analyzed across North America , Europe , Asia-Pacific , and LAMEA .
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