According to Future Market Insights, the growth of the healthcare sector and the need for solutions to reduce financial losses brought on by counterfeiting activities are driving demand for drug delivery solutions.
According to the study, the healthcare sector has suffered significantly in recent years as a result of the recalls of pharmaceutical items due to numerous quality problems brought on by complicated supply chain problems.
As a result, makers of pharmaceutical products are increasingly challenged to maintain cost levels while making investments in cutting-edge solutions like anti-counterfeit and track-and-trace systems.
Get Sample of the Report : https://www.futuremarketinsights.com/reports/sample/rep-gb-14241
As a result, major firms constantly innovate their product development processes to develop strategies that enable pharmaceutical makers to reduce costs while still providing value to customers and end-users.
Pharmaceutical makers can stop counterfeiting by using techniques like incorporating repeating watermarks in flexible composite structures or multi-layer rigid packaging designs.
Packaging using anti-counterfeit technology keeps pharmaceutical products and packaging authentic throughout intricate supply chains. As a result, pharmaceutical firms are calling for packaging options with low-cost anti-counterfeiting technologies.
Temperature and Moisture Control Pharmaceutical Packaging to Assert Dominance
Biopharmaceutical industry faced losses of approximately US$ 35 billion due to temperature abuse in 2019. To maintain the stability and extend shelf-life of pharmaceutical products, extremely protective and active packaging are introduced by manufacturers.
High-quality, temperature and odor controlled, stabilizers, and moisture scavenging packaging is gaining immense popularity among pharmaceutical and healthcare solution providers. Manufacturing of embedded pharmaceutical packaging formats such as vials and ampoules, prefilled syringe and cartridges among others are expected to increase the demand for drug delivery solutions.
Key Takeaways
- In terms of product, bottles segment is expected to hold over 2/5th of the global market share in 2021.
- Vials and ampoules are expected to exhibit growth at a CAGR of 9.3% during the forecast period.
- Based on material, metal drug delivery solutions are expected to increase by 2.1x during assessment period.
- Injectable application is expected to generate incremental opportunity of US$ 30.8 Bn during the projection period of 2021-2031.
- Regionally, Europe is expected to account for over 24% of the total market value in 2021.
Ask an Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-14241
“Innovative packaging designs made from newer materials is expected to push sales of drug delivery solutions globally. In order to carve a niche, manufacturers are providing advanced packaging solutions. This is expected to boost the demand in drug delivery solutions market,” says a FMI analyst.
Plastic is a Blessing in Disguise for Drug Delivery Solutions Market
Glass has been traditionally used in the manufacture of pharmaceutical packaging solutions, including bottles, ampoules, and vials.
However, there has been a gradual adoption of plastic as an alternative material solution and introduction of blow fill seal (BFS) technology. In order to capitalize on this trend, major drug delivery solution producers are providing plastic packaging solutions.
The delicate and heavy weight characteristics of the glass makes a challenge in the transport and shipping of the products in a long and complex supply chain in the pharmaceutical industry. Therefore, glass pharmaceutical packaging products are mostly being fill-in by packaging products made of plastics, including PET, HDPE, LDPE, PVC, and PP.
Plastics are cost-effective and easy to procure, to apply across product ranges, and convenient to transport. Plastic pharmaceutical packaging offers cost savings to stakeholders across the value chain, including manufacturers, wholesalers, suppliers, and end-users.
Plastics have also allowed fast-paced advancement in technology, including injection blow-molding, extrusion blow-molding, and 3-D design software for design improvement. Hence, manufacturers are extensively using plastic for drug delivery solutions.
Purchase the Report : https://www.futuremarketinsights.com/checkout/14241
Drug Delivery Solutions Market Landscape
Some of the players involved in the manufacturing of Amcor Plc, Schott AG, Gerresheimer AG, Berry Global, Inc., Klockner Pentaplast Group, Becton, Dickinson and Company, Ardagh Group S.A., West Pharmaceutical Service, Inc., Bilcare Limited, Wipak Group, Mondi Plc, Sealed Air Corporation, Constantia Flexibles, Clondalkin Group Holdings B.V., West Rock Company, UDG Healthcare plc, Catalent, Inc., Sonocco Products Company, Reike Corporation, Adelphi Healthcare Packaging, Nipro Corporation, Uflex Ltd., ACG Pharmapack Pvt. Ltd., Piramal Glass Limited, Parekhplast India Ltd., Shandong Pharmaceutical Glass Co., Ltd., Avesta Continental Pack, Shanghai Tongpeng Electric Material Co., Ltd., Khemka Glass, and TPAC Packaging India Private Limited (Sunpet).Tier one players are expected to hold 15% to 20% of the global drug delivery market.
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Browse all Reports: https://www.futuremarketinsights.com/reports
