The Latin America pharmaceutical packaging market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 6.8% during 2023–2031. The growth of the market is attributed to the advanced production process to develop eco-friendly and sustainable packaging solutions as well as product innovation.
Pharmaceuticals packaging is the packaging process for pharmaceuticals preparations, which includes all the activities from production through distribution channels to the end consumer.
Packaging is mostly involved in dosing, dispensing, and use of the pharmaceuticals products. Different pharmaceutical gases, liquids, and solids are packaged in various types of packages such as bottles, ampoules, sachets, and blister packs.
Pharmaceutical packaging is important to protect and store drugs from damages from external environment, for identification purposes, and for promotion as well as marketing of various brands. Various types of packaging are used for pharmaceuticals products including primary, secondary, and tertiary.
Primary packaging surrounds the pharmaceutical products, whereas secondary and tertiary gives external protection to products. Packaging activities were considered important during covid-19, which benefitted the pharmaceuticals packaging companies.
Market Trends, Drivers, Restraints, and Opportunities
-
Increasing product innovation to fulfill new demands is anticipated to push the market growth during the forecast period.
-
Rapid growth of drug delivery market is main factor propelling the market expansion.
-
Rising prevalence of chronic diseases and growth in the generic market is projected to boost the market expansion during the forecast period.
-
High cost of raw materials and packaging cost is estimated to impede the market growth in the coming years.
-
Strict government’s regulations and standard act as major challenge that can hamper the market expansion.
-
R&D investment and technological advancement in packaging is expected to offer significant opportunities for the market players.
Scope of Pharmaceutical Packaging Market Report
The report on the Latin America pharmaceutical packaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Latin America Pharmaceutical Packaging Market - Region Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Packaging Materials (Paper and Paperboard, Plastic, Metal, and Glass), Products (Closures, Blister Packs, Prefillable Syringes, Vials and Ampuls, Containers, Plastic Bottles, and Others)
|
|
Geography
|
Columbia, Brazil, Argentina, Mexico, and Rest of Latin America
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
Schott AG; Amcor Limited; Aptar Group Inc.; Sealed Air Corporation; and Intrapac Group
|
Pharmaceutical Packaging Market Segment Insights:
Plastics segment is projected to account for a large market share
Based on packaging materials, the Latin America pharmaceutical packaging market is divided into Paper and Paperboard, Plastic, Metal, and Glass.
The plastics segment is expected to constitute a key share of the market during the forecast period owing to easy handling & transportation along with high compatibility and cost effective solutions for pharmaceuticals packaging. Plastics are easy moldable and it creates effective barrier against vapor and gas.
However, the paper and paperboard segment is anticipated to expand at a rapid pace during the forecast period due to high usage in secondary and tertiary packaging of pharmaceuticals products. Paper and paperboard are majorly used owing to its low cost, sustainability, excellent printability, and wide availability.
Plastic bottles segment is projected to constitute a major market share
In terms of products, the market is segregated into Closures, Blister Packs, Prefillable Syringes, Vials and Ampuls, Containers, Plastic Bottles, and Others.
The plastic bottles segment is expected to account for a key share of the market during the forecast period owing to increasing use of oral drug delivery mode due to patient convenience and compliance. Plastic bottles are suitable for storing drugs in solid and liquid form and can be coupled with required type of caps & closure for different applications.
Columbia is expected to dominate the market
On the basis of regions, the Latin America pharmaceutical packaging market is categorized as Columbia, Brazil, Argentina, Mexico, and Rest of Latin America.
The market of Colombia is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to rising need for specialized packaging owing to various new product launches. Various key players have recognized Colombia as regional production and distribution center for pharmaceutical products.
On the other hand, the market of Mexico is expected to exhibit a rapid growth rate in the coming years due to country’s increasing economy along with government’s initiatives to expand healthcare sector.
Segments
The Latin America pharmaceutical packaging market has been segmented on the basis of
Packaging Materials
- Paper and Paperboard
- Plastic
- Metal
- Glass
Products
- Closures
- Blister Packs
- Prefillable Syringes
- Vials and Ampuls
- Containers
- Plastic Bottles
- Others
Geography
- Columbia
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Key Players
Competitive Landscape
Key players competing in the Latin America pharmaceutical packaging market include Schott AG; Amcor Limited; Aptar Group Inc.; Sealed Air Corporation; and Intrapac Group.
Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
