MarketResearchNest.com adds “Global Rigid Packaging Market 2018-2022”new report to its research database. The report spread across 111 pages with table and figures in it.
Research analysts forecast the global rigid packaging market for pharmaceutical sector to grow at a CAGR of 7.32% during the period 2018-2022.
About Rigid Packaging
Rigid plastics are used in the manufacture of plastic bottles, caps, and closures and are expected to witness extensive use during the forecast period. Rigid plastic packaging will mainly be used for oral medications and over the counter (OTC) medications such as tablets, which are usually distributed in bulks in pharmacies. Plastic bottles have the advantage of protecting the composition of the products enclosed, even if the packaging is exposed to changing conditions of environment. These bottles are usually made from rigid plastic high-density polyurethane (HDPE) polymers, and can be customized to suit different specifications.
Covered in this report
The report covers the present scenario and the growth prospects of the global rigid packaging market for pharmaceutical sector for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of rigid packaging.
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The market is divided into the following segments based on geography:
Technavio’s report, Global Rigid Packaging Market for Pharmaceutical sector 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio recognizes the following companies as the key players in the global rigid packaging market for pharmaceutical sector: Amcor, Bemis Company, Berry Global, Garresheimer, and WestRock.
Other Prominent Vendors in the market are: Corning and Shandong Pharmaceutical Glass.
Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is the rising inclination towards blister packaging. Manufacturers in the blister packaging segment widely use pre-formed rigid plastic packaging materials for packaging pharmaceutical products. Blister packaging is gaining popularity since it makes it easier for patients to stick to their medication routines by conveying significant data about the product. Moreover, the demand for child-proof blister packaging is also gaining traction. This in turn, will encourage pharmaceutical packaging companies to develop and innovate new kinds of blister packaging.”
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According to the report, one of the major drivers for this market is increasing demand for disposable medical products. Disposable medical products including face masks, gloves, surgical sponges, suction catheters, wraps and bandages, syringes, and applicators are manufactured for one-time use and help in the reduction of cross-contamination risks. It has been observed that the market for these products will register a revenue of around USD 250 billion by 2018. This in turn, will drive the demand for plastic resins as they are extensively used as raw materials in the manufacture of medical disposables. Consequently, the demand for rigid packaging for these products will also increase. The rising application of prefilled inhalers and transdermal patches will further boost the demand for medical disposables and rigid plastic packaging.
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.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;
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Mr. Jeet Jain