The global pharmaceutical packaging market size was valued at USD 98.58 billion in 2019 and is anticipated to expand at a CAGR of 8.5% over the forecast period. The growing pharmaceutical industry most notably in several emerging economies including China, India, and Brazil on account of increasing population, rising disposable income, and growing focus on increasing the life expectancy is expected to drive the market. In addition, rising focus of pharmaceutical packaging manufacturers on sustainability with the adoption of biodegradable and recyclable materials is likely to further fuel the growth. Moreover, growing demand for convenient packaging types, such as prefilled syringes and auto injectors is anticipated to create growth opportunities for the companies operating in the market. U.S. is the largest pharmaceutical market in the world. In 2019, the country held the largest share of the North America market for pharmaceutical packaging. In addition, the presence of several major pharma manufacturers is anticipated to positively influence the growth. Plastics & polymers material segment accounted for the largest revenue share in the U.S. market and is expected to continue its dominance over the forecast period. Growing demand for patient-oriented medicines such as biologics is further anticipated to have a positive impact on the market growth. Biologics are used for the treatment of illnesses where other treatments are unavailable. They are manufactured using microorganisms, animal, human, or plant cells and generally tend to be heat sensitive and prone to contamination. This, in turn, is expected to drive the demand for specialized packing thereby benefiting the market growth. Demographic trends including a growing population coupled rapidly aging population is expected to increase the demand for pharmaceutical products thereby propelling the demand for pharmaceutical packaging over the forecast period. In addition, growing demand for generic drugs owing to their affordability coupled with new drug developments is further anticipated to boost the demand for pharmaceutical packaging over the forecast period. Efficient packing of pharmaceuticals essentially prevents contamination, and provides drug safety, and convenience of delivery, and handling. Pharmaceutical packaging is thus, required to balance several complex considerations. However, rising packaging costs owing to stringent regulations and anti-counterfeiting efforts is likely to restrain the market growth. Thus, curbing these escalating packaging costs is one of the challenges faced by pharmaceutical packaging manufacturers. On the basis of material, the market has been segmented into plastics & polymers, paper & paperboard, glass, aluminum foil, and others. In 2019, the plastics & polymers material segment accounted for the largest revenue share and is anticipated to continue its dominance over the forecast period. Source:https://www.grandviewresearch.com/industry-analysis/pharmaceutical-packaging-market