The projected global pharmaceutical packaging market is anticipated to achieve a significant milestone, reaching an estimated size of US$ 101.1 billion by 2023. The sector is poised for robust growth with a healthy Compound Annual Growth Rate (CAGR) of 7.5% expected between 2023 and 2033. This trajectory indicates a substantial escalation in total pharmaceutical packaging sales, culminating in an impressive market valuation of US$ 206.6 billion by 2033. The industry’s anticipated expansion underscores the increasing demand for innovative and secure packaging solutions within the pharmaceutical sector, reflecting a positive outlook for the packaging market in the years ahead.
Pharmaceutical packaging refers to packaging solutions used to pack medicinal products to protect them from external factors, increase their shelf life, and maintain their integrity. These medicinal packaging solutions are generally made from materials such as plastic, paper, metal, and glass.
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.
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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.
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.
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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.
Pharmaceutical Packaging Market- Market Drivers and Market Restraints
Market Drivers:
- Regulatory Compliance: Stringent regulations and standards imposed by regulatory authorities regarding the safety and security of pharmaceutical products drive the demand for advanced and compliant packaging solutions.
- Increasing Pharmaceutical Production: The growth in pharmaceutical manufacturing and the development of new drugs drive the demand for packaging solutions that ensure product integrity, safety, and proper preservation.
- Rise in Chronic Diseases: The increasing prevalence of chronic diseases globally contributes to the demand for pharmaceuticals, subsequently boosting the demand for secure and effective packaging solutions.
- Innovations in Packaging Technologies: Advancements in packaging materials and technologies, such as smart packaging and serialization, contribute to the growth of the pharmaceutical packaging market.
- Focus on Patient Safety: Patient-centric approaches in healthcare emphasize the importance of ensuring the safety of pharmaceutical products, which, in turn, influences packaging requirements.
- Globalization of Pharmaceutical Supply Chains: The expansion of pharmaceutical markets globally and the complexity of supply chains create the need for packaging solutions that can withstand various transportation and storage conditions.
Market Restraints:
- Cost Constraints: The high initial costs associated with implementing advanced packaging technologies and materials can be a significant barrier for some pharmaceutical companies, especially smaller ones.
- Environmental Concerns: Increasing awareness and regulations related to environmental sustainability may pose challenges for traditional packaging materials. This may drive the need for eco-friendly solutions, but the transition can be a restraint for some companies.
- Counterfeiting Issues: The rise in counterfeit pharmaceutical products is a concern, leading to the need for secure packaging solutions. However, implementing anti-counterfeiting measures can add complexity and cost to the packaging process.
- Complex Regulatory Landscape: While regulations drive the need for compliant packaging, the complexity and variability of regulations across different regions can pose challenges for pharmaceutical companies operating in multiple markets.
- Limited Shelf Life of Pharmaceuticals: Some pharmaceutical products have a limited shelf life, and packaging solutions must be designed to ensure product stability and prevent degradation during storage.
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Key Segmentations:
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)
- Polyethylene
- Glass
- Metals
- Paper
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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