The pharmaceutical caps and closures market is set to grow by USD 2.43 billion accelerating at a CAGR of about 10%, during the period spanning over 2020-2024. One of the key factors driving growth is the development of child-resistant and tamper-evident packaging. Child-resistant packaging reduces the risk of children ingesting hazardous materials. Growing global sales of pharmaceuticals is a significant trend that will further stimulate market growth. The ongoing COVID-19 pandemic has increased the demand for pharmaceuticals across the world.
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Technavio has announced its latest market research report titled Global Pharmaceutical Caps and Closures Market 2020-2024 (Graphic: Business Wire)
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Parent Market Analysis
Technavio categorizes the global pharmaceutical caps and closures market as a part of the global metal and glass containers