Expected to reach a market value of US$ 27.4 billion in 2023, the global antiviral drug packaging market is poised for substantial growth, projecting a CAGR of 5.9% in the forecast period from 2023 to 2033, eventually attaining a valuation of US$ 48.9 billion. Noteworthy is the fact that the antiviral drug packaging market exhibited a CAGR of 4.9% during the historical period from 2018 to 2022.
The increasing prevalence of chronic diseases and global advancements in healthcare infrastructure are driving the expansion of the market. Furthermore, the momentum in the antiviral medicine packaging market is expected to rise with the adoption of technologically advanced manufacturing practices. The utilization of antiviral packaging not only enhances the shelf life of products but also extends the lifespan of pharmaceutical drugs.
North America is expected to dominate the market of antiviral drug packaging by accumulating over 40% market share by end of the forecast period. The growth is attributed to robust pharmaceutical infrastructure, growing cases of chronic diseases, and rising concern toward product safety. The United States government is undertaking various measures such as increasing investments in infectious diseases programs and promoting research and development activities for developing innovative therapies to manage viral infections will further boost product sales in the region.
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Who are the Key Manufacturers and Suppliers of Antiviral Drug Packaging?
Some of the key prominent players in the industry includes
- Avery Dennison Corporation
- E.I. du Pont de Nemours
- CCL Industries Inc
- BioCote
- Avient
- Mondi
- Biomaster
- BASF
- Lonza
- Takex Labo Co. Ltd
- Berry
- Lageen Tubes.
How Competitive is the Market?
- In May 2022, Avery Dennison Corporation declared two major investments which were meant to boost its manufacturing volume and enhance its factory efficiency in Europe to meet the high demand for its label and packaging materials.
- On April 2022, Avery Dennison announced the commencement of operations in its new state-of-the-art manufacturing facility in Greater Noida, India. The new state-of-the-art plant is spread over a 12-acre area which will manufacture technologically-advanced, pressure-sensitive materials for the packaging and labeling industry and would include best practices available across Avery Dennison globally.
Emerging Trends in Antiviral Drug Packaging
The Antiviral Drug Packaging Market is constantly evolving to meet the demands of an ever-changing healthcare landscape. Some notable trends include:
1. Sustainable Packaging Solutions
With a growing focus on environmental sustainability, pharmaceutical companies are increasingly adopting eco-friendly packaging materials. This not only reduces the industry’s carbon footprint but also appeals to environmentally conscious consumers.
2. Smart Packaging Technologies
Incorporating smart technology into drug packaging enables real-time monitoring of medication usage. Patients and healthcare providers can track adherence and receive timely reminders, improving treatment outcomes.
3. Child-Resistant Packaging
Child-resistant packaging has become a standard requirement for antiviral drugs to prevent accidental ingestion by children. Innovative designs ensure safety without compromising accessibility for adults.
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Key Segmentations:
By Material:
- Rigid plastic
- Pumps
- Flexible blister foils
By Application:
- Packaging
- Tubing
By End Use:
- Pharmaceuticals
- Healthcare
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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