NOIDA, India, July 6, 2021 /PRNewswire/ -- A comprehensive overview of the Middle East & Africa (MEA) Pharmaceutical Packaging market is recently added by UnivDatos Market Insights to its humongous database. The Middle East & Africa (MEA) Pharmaceutical Packaging market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Middle East & Africa (MEA) Pharmaceutical Packaging market. The Middle East & Africa (MEA) Pharmaceutical Packaging market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Middle East & Africa (MEA) Pharmaceutical Packaging market at the and regional levels. The Middle East & Africa (MEA) Pharmaceutical Packaging Market is expected to grow at a significant rate of 8% during the period 2022-2028 to reach US$ 13,265.7 Mn.
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Market Overview
The Middle East & Africa (MEA) Pharmaceutical Packaging Market is booming due to the Rising Prevalence of new HIV infections, Promulgating Cross Border Trade Activities, and Boost in the Export of Plastic and Rubber in the MEA region. The surging prevalence of numerous communal and non-communal diseases such as AIDS, Diabetes, Cancer, and respiratory diseases are some of the major factors driving the growth of the pharmaceutical packaging industry in the MEA region. With the snowballing demand for HIV medicines, the need for pharmaceutical packaging is expected to intensify during the forecast period. As per the UNAIDS Data 2020, adolescent girls, and young women account for 1 in 4 HIV infections in sub-Saharan Africa. The risk of HIV infection is higher among specific ages, genders, and subpopulations by region, depending on the type of epidemic within the countries of the MEA region. In sub-Saharan Africa, adolescent girls, and young women (aged 15 to 24 years) are at higher risk of HIV infection. In eastern and southern Africa, adolescent girls and young women accounted for 30% of a new HIV infection in 2019.
COVID-19 Impact
Due to COVID-19, each industry in the world is affected and its long-term effects are going to influence the growth of the industry in the upcoming period. The COVID-19 pandemic is causing a worldwide concern and economic deprivation of business all over the world. There is a mixed impact of the pandemic on the pharmaceutical packaging industry in the MEA region, and it depends on its various end-users. Since, the start of the COVID-19 pandemic, demand for certain packaging in the Middle East region is very high. There is an increase in the requirement for pharmaceutical glass packaging while the recycling industry struggles to maintain operations during the outbreak. Some MEA pharmaceutical packaging companies are opting for automation across their operations as it can address most of the challenges that COVID-19 is placing in the path of smooth, safe, and cost-effective operations.
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Middle East & Africa (MEA) Pharmaceutical Packaging Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Material Type, the market is primarily bifurcated into
- Plastics & Polymers
- Paper and Paperboard
- Glass
- Aluminum foil
- Others
Plastic & Polymers sub-segment dominated the Middle East & Africa (MEA) Pharmaceutical Packaging market and is expected to grow at a noteworthy CAGR of 8.55% by the year 2028.
By Product Type, the market is primarily segmented into
- Primary Pharmaceutical Packaging
- Plastic Bottles
- Caps & Closures
- Parenteral Containers
- Blister Packs
- Prefillable Inhalers
- Others
- Secondary Pharmaceutical Packaging
- Prescription Containers
- Pharmaceutical Packaging Accessories
- Tertiary Pharmaceutical Packaging
Primary pharmaceutical Packaging accounted for the largest share in 2020 and is expected to grow at a significant CAGR of 8.35% during the forecast period 2021-2028.
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By End-User, the market is primarily segmented into
- Contract Packaging
- Pharmaceutical Manufacturing
- Retail Pharmacy
- Institutional Pharmacy and Others
Amongst End-User, Pharmaceutical manufacturing accounted for the largest share in 2020 and is expected to grow at a significant CAGR of 7.98% during the forecast period 2021-2028.
Middle East & Africa (MEA) Pharmaceutical Packaging Market Geographical Segmentation Includes:
- Middle East and Africa
- UAE
- Saudi Arabia
- Qatar
- Turkey
- Egypt
- South Africa
- Rest of Middle East and Africa
Saudi Arabia dominated the Middle East & Africa (MEA) Pharmaceutical Packaging market in 2020 and is anticipated to maintain its dominance during the forecast period with a CAGR of 7.58%.
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The major players targeting the market includes
- Amcor Ltd.
- CCL Industries Inc.
- Intrapac Group
- Schott AG
- WestRock
- West Pharmaceutical Services, Inc.
- Jabil Inc.
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the sector. The specialist team of research analysts sheds light on various traits such as market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Middle East & Africa (MEA) Pharmaceutical Packaging market. The major players have been analyzed by using research methodologies for getting insight views on the marketplace competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Middle East & Africa (MEA) Pharmaceutical Packaging market?
- Which factors are influencing the Middle East & Africa (MEA) Pharmaceutical Packaging market over the forecast period?
- What are the challenges, threats, and risks in the Middle East & Africa (MEA) Pharmaceutical Packaging market?
- Which factors are propelling and restraining the Middle East & Africa (MEA) Pharmaceutical Packaging market?
- What are the demanding regions of the Middle East & Africa (MEA) Pharmaceutical Packaging market?
- What will be the market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by companies?
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