The pharmaceutical secondary packaging market is projected to grow at an annualized rate of 7.6% dur

In order to avail benefits, such as higher flexibility, reduced cost and assistance in meeting the rising demands, several pharmaceutical companies have demonstrated a preference to outsource their secondary packaging requirements to contract packaging organizations

Roots Analysis has announced the addition of “Pharmaceutical Secondary Packaging Market” report to its list of offerings.

The anticipated growth in the therapeutics pipeline is likely to translate into a significant rise in the demand for cost-effective and quality secondary packaging solutions, presenting lucrative opportunities for contract packaging organizations. Driven by the growth of the overall pharmaceutical industry and increasing preference of drug developers for outsourcing certain operations, the secondary packaging providers market is expected to witness a steady increase.

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https://www.rootsanalysis.com/reports/pharmaceutical-secondary-packaging-market.html

Key Market Insights

Around 165 companies claim to offer pharmaceutical secondary packaging services, globally
Majority (51%) of the industry stakeholders are headquartered in Europe, followed by those based in North America (37%) and Asia-Pacific (12%). In addition, close to 65% of the secondary packaging providers offer cartons, followed by companies offering boxes (53%) and other packaging formats, such as trays and pouches (29%).

Partnership activity has grown at an annualized rate of ~85%, between 2018-2021
Maximum number of partnerships were observed in 2020 (29), indicating a recent increase in the partnership activity in this domain. Majority of these agreements were reported to be instances of acquisitions, representing over 45% of the total number of instances.