With the economies and population aging, the healthcare industry has witnessed a robust demand in the recent years, and has consecutively strengthened the demands for pharmaceutical products as well. Comprehending the pharmaceuticals with packaging needs, the caps and closures industry sector play as major role in the pharmaceuticals industry today. Caps & closures act as a barrier and prevent the packaged contents from getting exposed to ambient air, light, and dust particles, and thus expanding the product’s shelf life.

The rising awareness about the safe and easy packaging owing to concerns over accidental consumption is likely driving the demand for innovations in the field of pharmaceutical caps and the closures market. According to Grand View Research reports, while the global caps and closures market size was valued at $88,042.2 million in 2020, it is expected to grow extensively at CAGR of 5.0 percent during 2021-2030. Moreover, the India plastic caps and closure market is expected to exhibit a CAGR of 6.2 percent during 2022-2027. Owing to their flexibility in function and low costs of production and sourcing, Plastics will account for more than 64 percent of the global caps and closures market through 2031. On a global level, Screwcap and closures have emerged dominant in terms of product type and are expected to account for more than 46 percent of the market by 2031, while Anti-cancer drugs are exhibiting...