Pharmaceutical Packaging Market - Forecast, 2023-2028
The Pharmaceutical Packaging Market is estimated to reach US$186.8 billion by 2028, growing at a CAGR of 9.4% over the forecast period 2023-2028. The market growth is projected to be driven by pharmaceutical packaging solution providers' increased attention to sustainability and their use of recyclable and biodegradable materials. From February 2019, under the Commission Delegated Regulation (EU) 2016/161, pharmaceutical makers are required to add a unique identifier and an anti-tampering device to the packaging of most centrally authorized pharmaceutical products. Packaging is crucial for pharmaceutical items that are to be administered and stored safely. The purposes of pharmaceutical packaging are numerous and significant. Pharmaceuticals must be packaged in order to be identified, to be stored and protected, to be sold and promoted under various brands and to make it easier for consumers to use the medications. A pharmaceutical product can be packaged in a variety of