Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Child Resistant Closure Market Overview
Child resistance closer is referred as child-resistant packaging. The packaging which is specifically designed or constructed for children in order to reduce the risk of poisoning by the ingestion of potentially dangerous items including medications, cosmetics and households chemicals. Over the past few years, rise in hazardous accidental cases among children has become a major concern for medicinal product packaging manufacturers. Hence in order to decrease the death rate ratio, child resistance closure has been developed by the manufacturers. It is one of the security purpose closure, signifies as a last barrier and has an important part to play in solving the problems created between the infant and the packaged content.
According to World Health Organization (WHO), child resistant closure is one of the best ways in preventing the unintentional poisoning in children.
Market Size and Forecast
The global child resistant closure market is expected to achieve CAGR 5.9% over the forecast period i.e. 2017-2024. Child resistance closure market is driven by the rising awareness related to child death and non-fatal poisoning caused by ingestion of poisonous items. The European region has been consistently dominating the child resistant closure market globally; owing to stringent regulations and norms for child resistant closure industry. The North America stood at second position in the total revenue of child resistant closure market and is anticipated to attain significant growth over the next few years. In Asia-Pacific region, child resistant closure market is anticipated to showcase robust growth over the forecast period with the booming pharmaceutical industry in the region. It has been notified that in the Middle East and Africa region, especially in the African continent, the child death rate due to poisoning is substantially high, thereby the child resistance closure market is expected to grow at a significance pace considering the measures for reducing the child death rate in the region over the next few years. CLICK TO DOWNLOAD FREE SAMPLE REPORT
Market Segmentation
Our in-depth analysis segmented the child resistant closure market in the following segments:
By Packaging Type
By Type
By Cap
By Region
Global child resistant closure market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Rising urbanization coupled with increasing awareness among consumer towards better packaging in pharmaceutical industry is anticipated to be the dynamic factor behind the growth of child resistant closure market over the coming few years. Besides this, mandatory regulations by government of various countries for toxic items in order to include child packaging is another crucial factor anticipated to foster the growth of child resistant closure market between 2017 and 2024. Strict government regulations and procedures such as Food and Drug Administration (FDA) in some of the countries have led a positive impact on child resistance closure which is further likely to bolster the growth of child resistant closure market in future. However, the production of high quality child resistance closure is costlier along with strict testing procedure which may dampen the growth of child resistant closure market globally.
Key players
The major key players for child resistant closure are as follows
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global child resistant closure market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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