Middle East & Africa (MEA) Pharmaceutical Packaging Market will reach to US$ 13,265.7 Mn by 2028

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.

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.

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.

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%.  

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.