Pharma Industry's Packaging Market To Reach US$246.6 Billion By 2033 | India Pharma Outlook

Pharma Industry's Packaging Market To Reach US$246.6 Billion By 2033

India Pharma Outlook Team | Thursday, 12 October 2023

 India Pharma Outlook Team

The anti-counterfeit pharmaceutical packaging industry is expected to be worth US$ 108.1 billion in 2023 and US$ 246.6 billion in 2033. The market is predicted to increase at an 8.6% annual pace between 2023 and 2033. The growing awareness of patients and consumers about the dangers of counterfeit medications is propelling the industry forward. They are increasingly seeking items with stronger security measures and packaging that ensures medicinal authenticity. The increasing prevalence of counterfeit pharmaceuticals poses a significant threat to public health.

As awareness of this issue grows, pharmaceutical companies and regulatory bodies take strong measures to combat counterfeiting. It is done through advanced packaging solutions, which drives the demand for anti-counterfeit pharmaceutical packaging, as per Future Market Insights. Anti-counterfeit technology improvements have made it viable and cost-effective for pharmaceutical corporations to deploy comprehensive security measures. Increasingly stringent pharmaceutical packaging regulations imposed by governments and regulatory organizations are expected to boost the market over the projected period.

The rise of online pharmaceutical sales and e-commerce platforms has facilitated the introduction of counterfeit medications into the market. To safeguard customers, e-commerce companies are implementing anti-counterfeit packaging. The pharmaceutical industry's ongoing development into new regions is pushing the demand for anti-counterfeit measures. To enhance their client base, leading anti-counterfeit pharmaceutical packaging manufacturers are broadening their product offerings. They are pursuing expansion tactics such as new product launches, partnerships, acquisitions, mergers, and collaborations, among others. Following these methods allows them to extend their worldwide reach and acquire a competitive advantage in the market.

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