Pharmaceutical Caps And Closures Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Pharmaceutical Caps And Closures Market is Segmented By Type of Packaging Container (Vials, Syringes, Cartridges), By Type of Closure (Seal, Stopper, ....
Pharmaceutical Caps And Closures Market Size
Market Size in USD
CAGR6.7%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 6.7% |
| Market Concentration | High |
| Major Players | Aptar Pharma (AptarGroup), West Pharmaceutical Services, Datwyler Sealing Solutions (Datwyler Group), Lonstroff (Sumitomo Rubber Industries), Ompi (Stevanato Group) |
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Pharmaceutical Caps And Closures Market Analysis
The pharmaceutical caps and closures market is estimated to be valued at USD 6.4 Bn in 2024 and is expected to reach USD 10.1 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031. The increasing production of pharmaceutical drugs and investments in technological advancements of caps and closures by leading manufacturers are expected to drive the growth of the market during the forecast period.
The market is expected to witness positive growth owing to rising demand for convenient and efficient dosage forms. Further, the introduction of anti-counterfeiting and child-resistant packaging technologies will support market expansion. However, availability of alternative packaging formats and increasing preference for generic drugs may impede the market progression to some extent over the forecast years.