Press Release

According to new report by IMARC Group, titled “Pharmaceutical Contract Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global pharmaceutical contract packaging market reached a value of US$ 17.9 Billion in 2018. In order to provide an optimum pharmacological effect to the patients, drugs require to be safely packed after production. To ensure this, pharmaceutical companies outsource secondary operations such as labeling and packaging of drugs to contract firms. Pharmaceutical contract packaging is more profitable, flexible and assists in keeping up with the changing times. Contract packaging firms also provide secondary services like assembling, secondary packaging, and labelling of vials, pre-filled syringes and auto-injectors.

Request to get sample report: https://www.imarcgroup.com/pharmaceutical-contract-packaging-plant/requestsample

Market Trends:

The implementation of strict rules and regulations by the governing agencies regarding the packaging of drugs has been the major growth-inducing factor for the market. Moreover, as opposed to drug manufacturers, pharmaceutical contract packaging vendors can undertake different types of packaging projects and can easily sort issues which arise from the complex packaging requirements. Further, these vendors are investing in research and development activities to improve the quality of their offerings. Apart from this, as these companies have a global presence, it helps the pharmaceutical companies in creating a fluid channel for the distribution of medicines and medical equipment across various regions. Additionally, the growing employment of smart packaging solutions, such as smart labels, is expected to create a positive outlook for the market. Looking forward, the market value is projected to reach US$ 27.1 Billion by 2024, expanding at a CAGR of more than 7% during 2019-2024.

Browse full report with TOC’s: https://www.imarcgroup.com/pharmaceutical-contract-packaging-plant

Insights on Market Segmentation:

Breakup by Industry:

1. Small Molecule

2. Biopharmaceutical

3. Vaccine

On the basis of industries, the market has been segregated into small molecule, biopharmaceutical and vaccine. At present, small molecule represents the leading industry, accounting for the majority of the market share.

Breakup by Type

1. Sterile

2. Non-Sterile

Based on types, the market has been bifurcated into sterile and non-sterile segments. Currently, the sterile segment dominates the market, holding the largest share.

Breakup by Packaging

1. Plastic Bottles

2. Caps and Closures

3. Blister Packs

4. Prefilled Syringes

5. Parenteral Vials and Ampoules

On the basis of packaging, plastic bottles account for the biggest market share, followed by caps and closures, blister packs, prefilled syringes, and parenteral vials and ampules.

Breakup by Region

1. United States

2. Europe

3. China

4. India

5. Others

Region-wise, the market has been segmented into the United States, Europe, China, India and Latin America. Amongst these, the United States is the leading market, holding the dominant share.

Competitive Landscape

The competitive landscape of the market has also been examined in the report with the detailed profiles of the key players operating in the market.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us

IMARC Group
Email: [email protected]
Phone No: (D) +91 120 433 0800 | www.imarcgroup.com
Americas :- +1 631 791 1145 | Africa and Europe :– +44-702-409-7331

This post was originally published on Stock Markets News

imarcgroup
imarcgroup
https://www.imarcgroup.com/
[email protected]

IMARC Group is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. We make an effort to fulfill specific and niche requirements of the industry while balancing the quantum of quality with stipulated time and trace major trends at both the domestic and global levels. The information products and services provided by IMARC cover major technological, scientific and economic developments in industrial, pharmaceutical and high technology organizations.