Introduction
The pharmaceutical secondary packaging market plays a vital role in ensuring drug safety, market competitiveness, and compliance with regulatory standards. In this comprehensive article, we delve into the various aspects of this industry, from its importance to the latest trends. Join us on this journey to gain insights into how pharmaceutical companies rely on secondary packaging to deliver quality products and maintain their competitive edge.
The Significance of Pharmaceutical Secondary Packaging Market
pharmaceutical secondary packaging market – A Shield of Protection
In the pharmaceutical world, where safety is paramount, secondary packaging serves as a shield of protection for drugs. It safeguards products from external factors like light, moisture, and contamination, ensuring the potency and efficacy of medications.
Expected to reach a valuation of US$ 41,950 million in 2023, the pharmaceutical secondary packaging market is poised to ascend to a substantial US$ 72,010 million by 2032. Anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 6.2%, the revenue generated from pharmaceutical secondary packaging sales is set to rise throughout the forecast period.
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Recent Developments in the Pharmaceutical Secondary Packaging Industry
- Berry Global Group and Raw Elements USA collaborated to introduce a sustainable tube produced from sugarcane in January 2022.
- The tubes are created from discarded sugarcane, which is transformed into HDPE and LDPE to produce a substance with the same chemical composition as polyethylene derived from fossil fuels.
- The cooperation between Gerresheimer AG and Stevanato Group to create a new ready-to-use solution platform based on the EZ-fill® pre-sterilized platform is announced for July 2022.
- Amcor PLC unveiled the ACT2100 heat seal coating in June 2021 for use with medical-grade DuPont Tyvek2 and paper packaging. This cutting-edge coating technique offers improved performance characteristics for medical applications.
- The joint venture for pharmaceutical packaging that Schott AG and Serum Institute of India announced in August 2021.
Some of the leading players in the market are
- Amcor Plc
- Berry Global, Inc.
- WestRock Company
- Becton, Dickinson, and Company
- Stora Enso Manu
- Sonoco Products Company
- DS Smith Plc
- Graphic Packaging International, LLC
- Mondi Group
The Role of Pharmaceutical Secondary Packaging Market
In the fast-paced world of pharmaceuticals, the role of secondary packaging is multi-faceted. It goes beyond aesthetics and branding. The primary functions include:
- Protection: Secondary packaging acts as a barrier against external factors like light, moisture, and physical damage, safeguarding the drug’s quality and efficacy.
- Tamper Resistance: By incorporating tamper-evident features, secondary packaging helps in detecting any unauthorized access or tampering.
- Information Dissemination: Important dosage instructions, warnings, and usage guidelines are communicated through secondary packaging, ensuring safe administration.
- Regulatory Compliance: Secondary packaging assists in meeting stringent regulatory requirements, ensuring that pharmaceutical products adhere to safety standards.
Innovations Driving the Market
The Pharmaceutical Secondary Packaging Market is driven by innovations aimed at optimizing drug protection and patient experience. Some noteworthy trends include:
- Smart Packaging: Integration of technology in packaging, such as RFID tags, enables real-time tracking of drugs, enhancing supply chain transparency.
- Child-Resistant Packaging: Innovative designs make it challenging for children to access medication, preventing accidental consumption.
- Sustainability Initiatives: Eco-friendly packaging materials reduce the industry’s carbon footprint, aligning with global sustainability goals.
- Personalized Packaging: Customized packaging solutions cater to specific patient needs, facilitating adherence to prescribed treatments.
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Pharmaceutical Secondary Packaging Market by Category
By Application:
- Pharma/ Biological Drug
- Veterinary Medicines
- Vaccine
By Material:
- Paper and Paperboard
- Plastics
By Packaging Format:
- Boxes
- Folding Cartons
- Blisters
- Bags and Pouch
- Trays
- Inserts and Dividers
- Wrapping Films
By End-use:
- Ophthalmic
- Injectable
- Biologics
- Wound Care
- Respiratory
- Therapy
- Oral
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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