According to FMI’s analysis, the pharmaceutical caps and closures market sales is expected to grow at a 5.8% CAGR over the forecast period. By 2023, the sector is expected to reach a market value of US$ 2,541.5 million.The increasing demand for pharmaceutical products, improvements in drug delivery technologies, and a greater focus on product safety and integrity are all driving strong growth in the global pharmaceutical caps and closures market. Because they guard against contamination and guarantee product security, caps and closures are essential to preserving the quality and shelf life of medications. Further propelling advancements in cap and closure technologies are strict regulatory mandates and an emphasis on patient convenience. The market is distinguished by a competitive environment with important players who add features like child-resistant closures and tamper-evident seals in an effort to improve their product offers.
In the pharmaceutical industry, closures that constitute the container-closure system, are considered important in the packaging of sterile products. Pharmaceutical closures, variously called bungs or stoppers, are an important element of the final packaging of pharmaceutical preparations.
The use of pharmaceutical caps and closures ensures parenteral pharmaceuticals’ sterility. These also avert the entrance of contamination upon the insertion of a needle into a vial. Packaging solutions safeguard the drug from physical damage and even from biological degradation.
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Drugs sensitive to water, light, and sometimes proximity to another sensitive substance, require effective caps and closures solutions. Increasing cases of chronic disorders and increasing administration of drugs are fueling the demand for caps and closures in pharmaceuticals. Moreover, favorable government policies and accelerating healthcare infrastructure are also fueling the market growth.
Growing demand for packaging in the pharmaceutical industry to protect the drugs from any external influences is projected to spur market growth. Companies active in the industry are offering an array of packaging solutions that cater to the needs of the pharmaceutical and healthcare industry while complying with strict industry standards.
Top Highlights from the FMI’s Analysis:
- North America’s pharmaceutical caps and closures industry gained a 29.6% market share in 2022.
- The United States pharmaceutical caps and closures industry is expected to acquire more than 26.5% in 2023.
- Europe region procured a 27.8% market share in 2022. Germany’s pharmaceutical caps and closures industry obtained a 4.8% market share in the same year.
- The United Kingdom market is projected to expand at a CAGR of 7.3% in the coming decade.
- In Asia Pacific, China, and India are projected to expand at a CAGR of 8.3% and 6.8%, respectively, in the forecast period.
- Australia’s pharmaceutical caps and closures industry is anticipated to expand at a CAGR of 4.5% from 2023 to 2033.
- Japan’s pharmaceutical caps and closures industry acquired a 6.4% market share, globally.
- Based on product, screw caps, and closures are projected to constitute 46.96% of the global market.
- Based on functionality, tamper evident segment is predicted to form more than 64.06% of the global market.
- Under the material category, the plastics segment is anticipated to contribute 60% to the global market.
- Based on drug modality, small molecules (synthetic drugs) secured 59.4% of the global market in 2022.
- Based on therapeutic class, anticancer drugs acquired a share of 20.5% in 2022.
- Based on end users, the pharmaceutical & biotechnology companies segment gained 52.8% of the entire market in 2022.
Market Update: Key Innovations Taking Place in this Market:
- Silgan Holdings acquired the dispensing business of Albea, which is a packaging firm, in June 2020. The dispensing business distributes sprayers, pumps, and foam dispensing solutions to large consumer goods firms. The business is operational in Europe, Asia, North America, and South America.
- Berry Global Group obtained RPC Group in July 2020. This acquisition helped in the positioning of the company as the global leader in value-added protective solutions and a significant plastic packaging company. Furthermore, the company has widened its global footprint spanning 290 locations the world over.
Key Players:
- Berry Global Inc.
- Amcor Plc
- Aptar, Inc.
- Closure Systems International, Inc.
- O.Berk Company, LLC
- Bericap GmbH and Co KG
- UNITED CAPS
- CL Smith Company
- Georg MENSHEN GmbH & Co. KG
- WestRock Company
- West Pharmaceutical Services, Inc
Market by Categorization:
By Product Type:
- Screw Caps & Closure
- Snap Caps & Closure
- Push-Pull Caps & Closure
- Stopper & Seals
- Others
By Functionality:
- Child Resistant
- Tamper-evident
By Material type:
- Plastic
- Elastomer
- Metal
By availability:
- Prescription (Rx) Pharmaceuticals
- Over-the-Counter (OTC) Pharmaceuticals
By Drug Modality:
- Small Molecule (Synthetic Drugs)
- Biopharmaceuticals
By Therapeutic class:
- Anticancer Drugs
- Anti-infective Drugs
- Anti-viral Drugs
- Anti-bacterial Drugs
- Anti-fungal Drugs
- Others
- Cardiovascular Drugs
- Anti-inflammatory Drugs
- Analgesics Drugs
- Anti-diabetics
- Ophthalmic Drugs
- Neurological Drugs
- Others
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By End Users:
- Pharmaceutical & Biotechnology Companies
- Contract Manufacturing Organizations (CMO)
- Contract Research Organizations (CROs)
- Academic & Research Institutes
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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