Authored By: Sarah
25 May 2021

Pharmaceutical Contract Packaging Market Size to Grow by USD 7.07 bn During 2020-2024

Technavio has been monitoring the pharmaceutical contract packaging market and it is expected to grow by USD 7.07 bn, accelerating at a CAGR of almost 17% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Pharmaceutical Contract Packaging Market: North America to lead market growth during the forecast period

  • 28% of the market growth will originate from North America during the forecast period.
  • Opportunities due to patent expiration of drugs will be a key trend that will influence market growth significantly.
  • The Rising r&d spending in pharmaceutical industry will be a significant factor in driving the growth of the pharmaceutical contract packaging market.

Pharmaceutical Contract Packaging Market to Post Incremental Growth of USD 7.07 bn During 2020-2024 | Key Geographies that will Drive Growth

Pharmaceutical Contract Packaging Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AmerisourceBergen Corp., Becton, Dickinson and Co., Berlin Packaging, Berry Global Group Inc., Bilcare Ltd., CCL Industries Inc., Constantia Flexibles Group GmbH, FedEx Corp., SCHOTT AG, and WestRock Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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Pharmaceutical Contract Packaging Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive pharmaceutical contract packaging market growth during the next five years
  • Precise estimation of the pharmaceutical contract packaging market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the pharmaceutical contract packaging market industry across North America, APAC, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of pharmaceutical contract packaging market vendors
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