Mumbai, Jun 11 : The pharmaceutical packaging market valued at USD 1.4 billion dollars is expected to grow at a rate of 8.10 per cent CAGR during 2022-2027 and 7.54 per cent CAGR till 2030 and reach the market size of USD 3 billion, said an industry expert.
“The pharmaceutical industry anticipates lucrative growth with the development of various drugs and medication, wherein it will obviously give a boost to the packaging industry,” Yogesh Mudras, managing director, Informa Markets in India, said while addressing two-day Pharma Confex held on June 9 and 10.
“The government reforms and surge in demand have kept the pharmaceutical packaging industry on a strong growth trajectory,” he added.
Key dignitaries including Dr Hemant G Koshia, commissioner, Food & Drugs Control Administration, Gujarat; Consul General Mr Bart de Jong, Consulate General of the Kingdom of The Netherlands, were present at the event.
The Indian pharmaceutical exports till January 2021 stood at around USD 20.14 billion and India’s pharmaceutical market value size in 2020 was around USD 130 billion.
