Pharmaceutical packaging is a very integral part of the pharmaceutical industry as it used not only to protect the absolute integrity of the drug product enclosed in it but also helps in identification and provides protection from external factors. It is considered that without proper packaging even one of the best-formulated drug can prove useless. The oral drug packaging market covers a major share in the pharmaceutical packaging market as a result of the oral drug delivery system being considered to be the easiest and most efficient method of drug delivery. This is the result of the many advantages the oral drug delivery exhibits like pain avoidance, ease of ingestion for all age groups and versatility to accommodate various types of drugs among other benefits.
In the global pharmaceutical packaging market among all other categories, the oral drug packaging market is the largest. The reason behind this is an increase in the incidence of chronic diseases which require long term treatment, improvement in patient compliance, and use of an advanced oral delivery system to reposition drugs. The growth in the oral drug packaging market in the coming future shows huge potential as many big pharmaceutical companies are making substantial investments in an attempt for enhancing their in-house capabilities of developing innovative oral drug delivery technologies.
Oral Drug Packaging Market: Dynamics
Key players in the pharmaceutical packaging industry are showing greater interest in the oral drug packaging market as it has a huge advantage over the other pharmaceutical packaging options which is having the potential to cater to the very specific needs of the handicapped and elderly population by integrating their needs into packaging designs, thus making the product a lot more convenient for them to use. In the developed economies the ageing population is on the rise and as a result of its ease and convenience, the oral drug packaging market is on the rise.
The oral drug packaging of liquids is considered to be very important by pharmaceutical companies. This is because there is cutthroat competition in the pharmaceutical market, making brand differentiation and enhancement a necessity. As oral liquid packaging not only increases the visibility of the product but also helps in improving the brand perception among the people it proves to be a factor to drive the oral drug packaging market.
There is a rise in the number of people globally that are preferring alternatives like Ayurveda or homeopathy to avoid the side effects associated with certain allopathic treatments. The oral drug packaging market is greatly benefited from this as oral drug packaging is the most widely used and preferred type of packaging solution in both the streams as a majority of treatments involved use an oral form of drug delivery.
As a result of the Covid19 pandemic, the oral drug packaging market is witnessing a big leap in terms of growth resulting from the heightened demand for prescribed as well as over the counter medications. In an attempt to evade going to hospitals for the treatment of rather small or home treatable problem majority of people are preferring over counter medicines as a solution to prevent themselves from getting infected by the virus at the hospital. As the majority of these medicines come in the form of oral packaging there is a significant rise in demand for oral drug packaging.
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Oral Drug Packaging Market: Regional Outlook
The rise in diverse and advanced drug manufacturing companies located in the developed economies like the US, Germany, Japan, France, Canada and the UK will be a driving factor for the oral drug packaging market. As a result of rapidly expanding manufacturing capabilities and the adoption of strict regulations for improving the reliability and quality of the drugs produced domestically the regions like India, Mexico, Argentina, Turkey, China and Russia are expected to become the fast-growing markets for oral drug packaging. North America has a comparatively higher per capita income expenditure on health care making it one of the biggest market for the oral drug packaging market. A large number of manufacturers of pharmaceuticals are in the Asia Pacific and Latin America making them some of the lucrative places for oral drug packaging manufacturers.
Oral Drug Packaging Market: Key Players
Key players in the oral drug packaging market are,
Berry Global Inc.
CCL Industries Inc.
Lonza Group Ltd.
IntraPac International LLC
Sonoco Products Company
RPC Group plc
Bemis Company, Inc.
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