USA’s Pharmaceutical Packaging Market: Projected to Reach a Whopping US$ 206.6 Billion by 2033 | Research By FMI

According to Future Market Insights, the global pharmaceutical packaging market is likely to be valued at US$ 101.1 billion in 2023. By 2033, the market valuation is expected to reach a colossal valuation of US$ 206.6 billion by 2033, with overall pharmaceutical sales surging at 7.5% CAGR throughout the assessment period (2023 to 2033).

The USA is set to maintain its stronghold in the global pharmaceutical packaging industry, with a substantial 94.1% share in the North American market, projected to rise to 95.1% by 2033. In 2021, pharmaceutical spending in the USA surged to $576.9 billion, a 7.7% increase from 2020, driven by a 4.8% rise in drug utilization and a 1.1% growth in new drug development. Anticipated growth in pharmaceutical spending by 4% to 6% in 2022 further underscores this expansion. The presence of key packaging companies, like Amcor, Mondi, Sealed Air, and Westrock, combined with a focus on specialized packaging for novel therapies, will drive demand for innovative and protective pharmaceutical packaging solutions throughout the assessment period.

Growing demand for pharmaceutical products due to increasing prevalence of various diseases and rising health awareness is a key factor driving the global pharmaceutical packaging Industry forward.

Subsequently, innovation in packaging such as development of eco-friendly and sustainable pharmaceutical packaging will boost the market during the projection period. 

Packaging of the pharmaceutical products is a key concern for drug manufacturers and consumers. Any negligence in packaging material or technologies can have devastating results. As a result, companies choose safe and effective packaging solutions for their medicinal products.

Pharmaceutical packaging protects drugs or medications from spoilage, leakage, and contamination. It is easy-to-use & easy-to-dispose and helps pharmaceutical companies to significantly enhance life of drugs by maintaining their integrity.

Packaging solutions for pharmaceutical products include primary packaging such as bottles, vials, ampoules, blisters, and several others, as well as secondary packaging like boxes and cartons.

Request Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-6150

The recent exponential growth in sales of pharmaceutical packaging solutions is related to the rising need for child-resistant packaging formats to prevent children from suddenly consuming excessive amounts of medicine in absence of parents.

Pharmaceutical packaging has grown in popularity over the past few years since it provides safe and secure packaging solutions for a variety of pharmaceutical products, such as drugs or medications. Growing production and consumption of pharmaceuticals will eventually boost pharmaceutical packaging sales during the forecast period.

Future Market Insights anticipates that there will be ample opportunities for the manufacturers of pharmaceutical packaging during the projection period due to rising spending on pharmaceutical products across the world.

Key Takeaways from Pharmaceutical Packaging Market

  • By product type, the bottles segment is forecast to hold more than 31.3% of the value share by the end of 2033.
  • Based on material type, plastics segment is projected to increase at a CAGR of 7.6% during the forecast period, creating an incremental opportunity of US$ 67.4 billion by the end of 2033.
  • North America pharmaceutical packaging market is expected to expand by 2.1x of its current market value through 2033.
  • With rising consumption of pharmaceutical products as well as expansion of the pharmaceutical sector, Asia Pacific Excluding Japan (APEJ) market is anticipated to expand by 2.6x of current market value by 2033.
  • The USA is forecast to account for around 95.1% share of North America pharmaceutical packaging industry by the end of 2033.

 “Growing need for protecting medicinal products from physical, biological, and chemical factors as well as to maintain their integrity is expected to generate lucrative prospects for the global pharmaceutical packaging market during the forecast period. Besides this, development of sustainable pharmaceutical packaging will bode well for the market,” says an FMI analyst. 

Rise in Per Capita Healthcare Expenditure to Facilitate Pharmaceutical Packaging Industry Expansion

Considering the current scenario as well as the rising awareness about healthcare, investment in the healthcare sector is rising. Consumers are worried about the future as well as their current life which makes them think to invest in the healthcare sector.

Healthcare investment has a positive and direct correlation with the pharmaceutical industry. The pharmaceutical industry accounts for a sizable portion of the investments attracted for the expansion of the country’s economy.

As a result of consumers’ rising concern for their quality of life, there is an increase in the per capita cost of healthcare. The market for pharmaceutical packaging is expected to be positively impacted by rising healthcare spending across the world.

Request Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-6150 

Who is Winning?

  • Amcor Plc
  • Ardagh Group S.A.
  • Becton, Dickinson and Company
  • Berry Global Group, Inc.
  • Bilcare Limited
  • Catalent, Inc.
  • Clondalkin Group Holdings B.V.
  • Constantia Flexibles Group GmbH
  • Gerresheimer AG
  • Klöckner Pentaplast Group
  • Mondi Group
  • Nipro Corporation
  • Piramal Glass Private Limited
  • Schott AG
  • Sealed Air Corporation
  • Uflex Ltd.
  • others

Ardagh Group S.A., Amcor plc, Becton, Dickinson and Company, Berry Global Group, Inc., Westrock Company, and Mondi group, are the top pharmaceutical packaging manufacturers operating in the global market. As per FMI’s latest analysis, around 70% to 80% of the global market is expected to be held by Tier 3 players. Subsequently, key players contribute around 20 to 30% of the global market.

New Biological Drug Formulations Set to Improve Pharmaceutical Packaging Market 

Novel biological drug medications are creating various complex challenges for the manufacturers of pharmaceutical packaging. The new pharmaceutical medications require innovative packaging concerning their molecule formulations and their interaction with packaging material. This is prompting manufacturers to develop new packaging formats which suit the new biological drug medications.

The glass vial is a case of a packaging format that is experiencing changes that reflect the market demand. Some novel biologics have properties that delaminate glass, prompting undesirable glass chipping in formulations.

Pharmaceutical packaging companies are currently taking a gander at how vials are framed in the heating procedure so that chipping can be alleviated. Hence, development of new biological drug formulations will trigger innovation in pharmaceutical packaging formats which will eventually boost the overall market.

Ask an Analyst: https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-6150 

Pharmaceutical Packaging Industry by Category

By Product Type:

  • Bottles
    • Packer Bottles
    • Liquid Bottles
  • Vials & Ampoules
  • Blisters
  • Bags & Pouches
  • Prefilled Syringes & cartridges
  • Sachets
  • Trays
  • Tubes
  • Containers, Jars, & Others

By Material Type:

  • Plastics
    • Polyethylene
      • LDPE
      • HDPE
    • Polyvinyl Chloride
    • Polypropylene
    • Polystyrene
    • Polyethylene Terephthalate
    • Others (Polycarbonate)
  • Glass
  • Metals
  • Paper

About the Packaging Division at Future Market Insights

The Packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

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.

Contact Us:        

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these