Pharmaceutical packaging trend

The growth in the pharmaceutical market has spurred the growth in the pharmaceutical packaging also. Packaging is the key part of the pharmaceutical market because it helps with keeping the drugs safe from contamination and damage. The CAGR is estimated to be more than 7% till 2019 of the pharmaceutical packaging market in this region.

pharmaceutical packagings

Pharmaceutical industry is seeing an exponential growth. With changing lifestyle and more and more people being diagnosed with various diseases and increased spending on healthcare by government of different countries world over pharmaceutical has become a multi-billion dollar industry. Pharmaceutical manufacturers must follow stringent requirements to protect consumer safety and environmental regulations. Increasing cost pressures on pharmaceutical manufacturers is forcing them to pass on this cost on to packaging companies which has become one of the driving force of pharmaceutical packaging market. The rise in self-medication and over the counter products is also contributing to growth of this industry.