Market Size of Middle East and West Africa Pharmaceutical Plastic Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.54 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East & West Africa Pharmaceutical Plastic Packaging Market Analysis
The Middle East and West Africa Pharmaceutical Plastic Packaging Market is anticipated to register a CAGR of 4.8% during the forecast period. Factors such as weighing down cost reduction in pharmaceutical firms, involvement in comprehensive control guidance, organization, and capacities, progress in the over-the-call industry, counterfeit products measures, and mechanical developments will drive market growth.
- The market for pharmaceutical plastic packaging is anticipated to continue to rise due to the rising prevalence of chronic diseases, the growth of the biologics market, and technical advancements.
- The penetration of retail pharmacies in the region is expected to increase, while pharmaceutical manufacturers' emphasis on product differentiation and brand improvement is expected to increase. Furthermore, there is a greater demand for drugs due to the rising prevalence of chronic diseases brought on by altered dietary patterns, lifestyles, and sleep cycles.
- Plastics are the most used materials in pharmaceutical packaging. Plastics are gaining increasing importance in the packaging of pharmaceutical goods due to barriers against moisture, high dimensional stability, high impact strength, resistance to strain, low water absorption, transparency, and resistance to heat and flame. Moreover, the government's focus on improving healthcare systems and insurance coverage drives up demand for pharmaceuticals, fueling market expansion.
- Although there are excellent prospects to improve food production and processing in Africa, the region's lack of or inadequate supply chains continue to slow the expansion of the need for plastic pharmaceutical packaging.
- During Covid -19, the market, which includes bottles and containers, has continued to soar. In addition, packaging companies are seen investing in the sterile format while increasing their production capacity due to the need for biologics and vaccines.
