Top 5 Companies in the Pharmaceutical Packaging Market 2023
05 May, 2023
Growth Plus Reports
According to Growth Plus, Reports, the global pharmaceutical packaging market was valued at US$ 88.30 billion in 2020, and it is expected to register a strong CAGR of 6.40% to reach US$ 174.70 billion by 2031. The pharmaceutical industry's fast expansion, expanding R&D efforts, rising demand for convenient packaging, and rising expansion tactics implemented by key firms will drive the revenue growth of the pharmaceutical packaging market.
What is Pharmaceutical Packaging?
Pharmaceutical packaging is the process of packaging pharmacological formulations. It entails a variety of carefully chosen materials to maintain and protect the medicine while allowing the patient to use it safely. Besides safety, pharmaceutical packaging is also important for the identification, marketing, and promotion of different brands and for making pharmaceutical items easier to use. Pharmaceutical packaging is divided into primary, secondary, and tertiary. Primary medication packaging is the material that surrounds and comes into direct touch with the pharmaceutical product, while secondary and tertiary packaging provides extra exterior protection.
The Top 4 Players in the Photodynamic Therapy Market are:
- Gerresheimer AG: Gerresheimer AG, headquartered in Düsseldorf, is a German producer of the primary packaging materials for medicine and drug delivery systems manufactured from special-purpose glass and plastics for the pharmaceutical and cosmetics sectors. The corporation has manufacturing facilities in Europe, the U.S., and Asia. Gerresheimer Glas AG was founded in 1864.
- SCHOTT AG: Schott AG is a global glass manufacturer based in Germany that specializes in the production of glass and glass ceramics. The Carl Zeiss Foundation owns the company, headquartered in Mainz, Germany.
- B.D.: Becton, Dickinson, and Company, or B.D., is a global medical technology firm based in the United States that makes and distributes medical devices, instrument systems, and reagents. In select regions, B.D. also offers consulting and analytics services. The corporation was started in New York City in 1897, but its headquarters were later relocated to New Jersey.
- Catalent, Inc: Catalent, Inc. is a global conglomerate based in Somerset, New Jersey. It provides delivery technologies, development, medication production, biologics, gene treatments, and consumer health goods globally. Catalent was founded in April 2007 when members of the Blackstone Group L.P. bought the core of Cardinal Health, Inc.'s pharmaceutical technology and services (PTS) sector.
- West Pharmaceutical Services, Inc: West Pharmaceutical Services, Inc. is an injectable pharmaceutical packaging and delivery system designer and producer. The firm was founded in 1923 and is headquartered in Exton, Pennsylvania. In its early years, West manufactured rubber components for injectable medicine packaging, providing a sterile environment for penicillin and insulin manufacturers.