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Growing demand for sustainable packaging to drive market growth. The growing environmental concerns are increasing the demand for sustainable packaging solutions among the pharmaceutical manufacturers. Plastic films and plastic materials are mostly derived from petroleum feedstock. Their adverse effects on the environment have encouraged the vendors to provide eco-friendly packaging to their consumers. The analysts have predicted that the pharmaceutical contract packaging market will register a CAGR of over 17% by 2023.
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Market Overview
Rising R&D spending in pharmaceutical industry
Many pharmaceutical companies are investing in R&D to be successful in their businesses for long term. The high R&D spending by the pharmaceutical manufacturers are expected to bring more pharmaceutical products in the market. This has increased the demand for pharmaceutical contract packaging. By adopting contract packaging, the pharmaceutical manufacturers can reduce their capital expenditure and operating cost associated with the purchase of packaging machineries, space for setting up packaging units, and labor cost for the same.
High cost of anti-counterfeit packaging technology
The risk of counterfeit is higher in the supply chain of pharmaceutical products. The counterfeit of pharmaceutical products can be a threat to consumers' lives. It can also financially impact pharmaceutical vendors and contract packaging vendors. In addition, the after-effects of counterfeit drugs can adversely impact the reputation of the brand.
For the detailed list of factors that will drive and challenge the growth of the pharmaceutical contract packaging market during the 2019-2023, view this report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including FedEx and Sharp, the competitive environment is quite intense. Factors such as the rising R&D spending in pharmaceutical industry and the growing demand for sustainable packaging, will provide considerable growth opportunities to pharmaceutical contract packaging manufacturers. CCL Industries, Co-Pak, FedEx, Sharp, and TricorBraun are some of the major companies covered in this report.
Table of Contents
PART 01: EXECUTIVE SUMMARYPART 07: CUSTOMER LANDSCAPEPART 09: DECISION FRAMEWORK
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY PACKAGING
PART 08: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
List of Exhibits
Executive Summary
Global Pharmaceutical Contract Packaging Market 2019-2023The analyst recognizes the following companies as the key players in the global pharmaceutical contract packaging market: CCL Industries, Co-Pak, FedEx, Sharp, and TricorBraun.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the growing demand for sustainable packaging.”
According to the report, one of the major drivers for this market is the rising R&D spending in pharmaceutical industry.
Further, the report states that one of the major factors hindering the growth of this market is the high cost of anti-counterfeit packaging technology.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned
A selection of companies mentioned in this report includes:
- CCL Industries
- Co-Pak
- FedEx
- Sharp
- TricorBraun
