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Roots Analysis has announced the addition of “Pharmaceutical Secondary Packaging Market” report to its list of offerings.
The anticipated growth in the therapeutics pipeline is likely to translate into a significant rise in the demand for cost-effective and quality secondary packaging solutions, presenting lucrative opportunities for contract packaging organizations. Driven by the growth of the overall pharmaceutical industry and increasing preference of drug developers for outsourcing certain operations, the secondary packaging providers market is expected to witness a steady increase.
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Key Market Insights
Around 165 companies claim to offer pharmaceutical secondary packaging services, globally
Majority (51%) of the industry stakeholders are headquartered in Europe, followed by those based in North America (37%) and Asia-Pacific (12%). In addition, close to 65% of the secondary packaging providers offer cartons, followed by companies offering boxes (53%) and other packaging formats, such as trays and pouches (29%).
Partnership activity has grown at an annualized rate of ~85%, between 2018-2021
Maximum number of partnerships were observed in 2020 (29), indicating a recent increase in the partnership activity in this domain. Majority of these agreements were reported to be instances of acquisitions, representing over 45% of the total number of instances.
Expansion activity in this domain has grown at a CAGR of ~55%, between 2018 and 2022
Most of such initiatives were focused on expanding the existing capacity (40%), followed by instances of establishing a new facility (38%) and facility expansions (13%). Further, majority of the investments were made in facilities located in North America (54%) and Europe (35%).
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Key Questions Answered
The financial opportunity within the pharmaceutical secondary packaging market has been analyzed across the following segments:
The report also features inputs from eminent industry stakeholders, according to whom, the increasing pharmaceutical pipeline and high demand for life-saving drugs will drive the growth of the pharmaceutical secondary packaging providers, in the coming future. The report includes detailed transcripts of discussions held with the following experts:
The research includes profiles of key players (listed below); each profile features a brief overview of the company, details related to its pharmaceutical secondary packaging offerings, recent developments and an informed future outlook.
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