The Global Pharmaceutical Packaging Market Size is valued at 123.21 billion in 2023 and is predicted to reach 262.19 billion by the year 2031 at a 10.00% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The pharmaceutical packaging industry is expected to have strong sales due to increased production and consumption worldwide.
- Drugs are increasingly being protected from spoiling, breakage, and leakage, which is projected to fuel the rapid expansion of the pharmaceutical packaging industry.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- Issues with cost and the necessity for smooth integration into current processes can make implementing innovative packaging solutions like smart packaging and digital technology difficult.
Increased frequency of persistent and infectious illnesses, increased expenditure in pharmaceutical R&D, improved earnings, and expanded health service have all enhanced pharmaceutical manufacturing. Additionally, patent expirations and the growing manufacture of generic medicines lead to increased production, boosting pharmaceutical output and rising packaging needs.
The pharmaceutical industry demands dependable, quick-packed solutions addressing adequate protection, counterfeit evidence, quality, patient comfort, and security concerns. Consistent and ongoing innovation in the pharmaceutical industry, such as Plasma Impulse Chemical Vapor Deposition (PICVD) coating technology, unit dose vials, Blow Fill Seal (BFS) vials, two-in-one prefilled vial design, and baby packs, is expected to see an increase in demand. The market is predicted to rise due to a strong pharma production base and capital efficiency in technology advancements for sustainable packaging.
The burgeoning pharmaceutical sector in the region's developing nations is expected to increase demand for pharmaceutical packaging due to rising health awareness, regulatory norms, and a growing emphasis on population health management. Furthermore, the ever-increasing demand for hospital pharmaceuticals and medicines is projected to boost the market growth. Certain medicines utilize animal, microbe, plant, or cell cultures. They are frequently vulnerable to contamination and heat sensitivity, which is expected to fuel requests for packing solutions, resulting in a rise in the pharmaceutical packaging market growth.
Recent Developments:
- In February 2023 -Schott launched its first plant in the United States to increase its diagnostics and life sciences product and manufacturing capabilities. A multimillion-dollar investment will be made in constructing a new Phoenix, Arizona, facility dedicated to producing custom DNA.
- In May 2022-CCL Industries Inc. intends to expand its Innova business unit near Leipzig, Germany. A new 8 m wide multi-layer co-extrusion line will make highly engineered thin gauge label films to fulfill the rising, sustainability-driven demand for materials with lower resin contents.
Competitive Landscape:
Some of the Pharmaceutical Packaging market players are:
- Alpla Werke Alwin Lehner Gmbh & Co Kg
- Amcor Plc
- AptarGroup, Inc.
- Aptargroup, Inc.
- Ardagh Group S.A.
- Becton, Dickinson, and Company
- Berry Global Inc.
- Bilcare Limited
- Catalent, Inc.
- CCL Industries, Inc.
- Comar
- Drug Plastics Group
- Frank Noe Egypt Ltd.
- Gaplast Gmbh
- Gerresheimer Ag
- Hergesheimer A
- International Paper
- Lonza Group Ltd.
- Mondi Group
- Nipro Corporation
- Nolato Ab
- Origin Pharma Packaging
- Owens Illinois, Inc.
- Schott AG
- Sealed Air
- SGD Pharma
- Silgan Holdings Inc.
- Vetter Pharma International Gmbh
- West Pharmaceutical Services, Inc.
- WestRock Company
Market Segmentation:
The pharmaceutical packaging market is segmented on material, product and end user. Material segment includes plastics & polymers, polyvinyl chloride (PVC), polypropylene (PP), polyethylene terephthalate (PET), polyethylene (PE), paper & paperboard, glass, aluminum foil and others. Based on product, the market is segmented as primary, secondary and tertiary. By product, the market is segmented into. Based on end users, the pharmaceutical packaging market is segmented as pharma manufacturing, contract packaging, retail pharmacy and institutional pharmacy.
Based On Material, The Plastic & Polymers Segment Is Accounted As A Major Contributor To The Pharmaceutical Packaging Market
The plastic & polymers category will hold a major share of the global pharmaceutical packaging market in 2024. Blister packs, strip7 packs, sachets, pre-fillable syringes and inhalers, parenteral solution bags, and bottles are all packaged with plastics. Pharmaceutical packaging materials must be chemically inert, have low water vapor permeability, and easily handle.
Furthermore, because the packing materials come into close touch with drugs and biological agents, they must adhere to stringent regulatory requirements. Polymers and polymers meet these specifications and are commonly employed in pharmaceutical packaging. Plastics are in high demand in the pharmaceutical sector because they provide a cost-effective and dependable method of packaging pharmaceutical items. Thermoplastics and thermosets are two polymers commonly used in pharmaceutical product packaging to safeguard sealed medicinal items.
The Primary Packaging Segment Witnessed Growth At A Rapid Rate
The primary packaging segment is projected to rise in the global pharmaceutical packaging market. Product benefits such as product testing, taint prevention, transit safety, and better results will drive product demand in the next years. Medication tubes, caps and closures, soda containers, blister packs, parenteral containers, pouches, pre-fillable inhalers, and others comprise the principal packaging product group. Plastic bottles are the most utilized product for packaging various sorts of drugs, and as such, they have emerged as the dominant packaging product leader.
The North American Pharmaceutical Packaging Market Holds A Significant Regional Revenue Share
The North American pharmaceutical packaging market is expected to register the highest market share in revenue shortly. Leading pharmaceutical companies with considerable presence in the region include Canada, the United States, and Mexico. Because of its extensive healthcare system, elevated expenditure on drug discovery, and high per capita income, the United States has the world's largest pharmaceutical market.
In addition, Asia Pacific is projected to expand at a quick rate in the global pharmaceutical packaging market; Japan, India, China, and South Korea are some of the essential needs due to fast-growing populations and sustained economic growth in the area, which are expected to drive packaging demand in the following years. Furthermore, favorable government laws on drug safety are projected to enhance the region's growth.
Pharmaceutical Packaging Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 123.21 Bn |
|
Revenue forecast in 2031 |
USD 262.19 Bn |
|
Growth rate CAGR |
CAGR of 10.00% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Material, Product And End User |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Amcor plc; Becton, Dickinson, and Company; AptarGroup, Inc.; Drug Plastics Group; Hergesheimer AG; Schott AG; Owens Illinois, Inc.; West Pharmaceutical Services, Inc.; Berry Global, Inc.; WestRock Company; SGD Pharma; International Paper; Comer, LLC; CCL Industries, Inc.; Vetter Pharma International |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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