, /PRNewswire/ -- The global pharmaceutical contract packaging market size is estimated to grow by .32 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 16.
54% during the forecast period. Rising R and D spending in pharmaceutical industry is driving market growth, with a trend towards opportunities due to patent expiration of drugs. However, high cost of anti-counterfeit packaging technology poses a challenge.
Key market players include Amcor Plc, AmerisourceBergen Corp., AptarGroup Inc., and Co.
, Berlin Packaging LLC, Berry Global Inc., Bilcare Ltd., Catalent Inc.
, CCL Industries Inc., Constantia Flexibles Group GmbH, Datwyler Holding Inc., FedEx Corp.
, Gerresheimer AG, Jabil Inc., James Alexander Corp., KP Holding GmbH and Co.
KG, Pharma Packaging Solutions, Precision Concepts International, , and WestRock Co.. Get a detailed analysis on regions, market segments, customer landscape, and companies - The pharmaceutical industry is set to experience an increase in patent expirations, leading to a rise in the production of generic medicines.
With original branded drugs going off-patent, pharmaceutical manufacturers face a challenge in investing heavily in research and development for new drugs and packaging. This situation creates a demand for contract packaging services from vendors who possess the necessary infrastructure and expertise. As a result, the pharmaceutical contract packaging market is poised to grow at an average annual r.