Pharmaceutical Plastic Packaging Market Expected to Reach US$ 96,339.2 Million by 2033, Fueled by Innovation and Shift from Glass to Plastic Solutions

Pharmaceutical Plastic Packaging Market

The global pharmaceutical plastic packaging market is poised for significant growth, with the net worth of total pharmaceutical plastic packaging products estimated to reach US$ 54,820.9 million in the year 2023. Projections indicate a robust Compound Annual Growth Rate (CAGR) of 5.8% between 2023 and 2033, with the market expected to surge to US$ 96,339.2 million by 2033.

Key Market Drivers:

  • Rise in Medication Development: The positive growth rate in the adoption of pharmaceutical plastic packaging solutions is primarily attributed to the development of various medications and drugs across countries, driven by increasing healthcare needs and advancements in medical science.
  • Prevalence of Chronic Diseases: The increasing prevalence of chronic diseases worldwide has compelled pharmaceutical companies to invest in custom pharmaceutical packaging solutions, particularly for export markets, to ensure product safety and compliance.

Innovation Quotient (IQ) in Packaging:

Manufacturers of plastic packaging are focusing on developing pharmaceutical packaging solutions that are tamper-evident and possess anti-counterfeiting features, catering to the stringent regulatory requirements of the pharmaceutical industry. Packaging with these features presents an opportunity for players in the biodegradable plastic packaging market to differentiate their products and gain a competitive edge.

Request For a Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-12419

Shift from Glass to Plastic Solutions:

In recent years, there has been a notable shift in demand for plastics-based medical packaging over glass packaging. This shift can be attributed to lower production costs, widespread availability of plastics, and the convenience, durability, flexibility, and sustainability offered by pharmaceutical plastic bottles compared to glass alternatives. Additionally, sleeve labeling, the most preferred and widely used label, is more convenient to use on plastics than on glass.

Plastic Bottles and Containers: Exponential Growth Opportunities

The introduction of plastic bottles and containers for pharmaceuticals, equipped with child-resistant caps and closures, presents significant growth opportunities for manufacturers. Child-safe packaging and contamination-free drug delivery are enhancing the demand for plastic packaging solutions, especially for cannabis-based medicines.

Growth Drivers in the Pharmaceutical Plastic Packaging Industry:

  1. Increasing Drug Production: The pharmaceutical industry is experiencing a surge in drug development and production, driving the demand for innovative and efficient packaging solutions to ensure product safety and compliance.
  2. Stringent Regulatory Requirements: Growing regulatory requirements for pharmaceutical packaging, including child-resistant and tamper-evident features, are pushing companies to adopt advanced plastic packaging solutions that meet these standards.
  3. Rising Healthcare Expenditure: As global healthcare expenditure continues to rise, there is a corresponding increase in pharmaceutical consumption. This growth in demand is propelling the need for packaging solutions that enhance drug stability, shelf life, and ease of use.
  4. Focus on Patient Convenience: With a shift towards patient-centric healthcare, there is a growing emphasis on packaging designs that enhance patient convenience, such as unit-dose packaging, blister packs, and user-friendly features.
  5. Advancements in Material Technology: Continuous innovations in plastic materials and packaging technologies, such as smart packaging with sensors for monitoring drug integrity, are driving growth in the pharmaceutical plastic packaging market.

Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-12419

Industry Trends:

  1. Sustainable Packaging Solutions: The pharmaceutical industry is increasingly adopting environmentally friendly packaging materials and practices, driven by a global trend towards sustainability. This includes the use of recycled plastics, biodegradable materials, and reduced packaging waste.
  2. Digitalization and Smart Packaging: Integration of digital technologies into pharmaceutical packaging, such as RFID tags and QR codes, enables improved traceability, anti-counterfeiting measures, and real-time monitoring of product integrity, contributing to enhanced safety and compliance.
  3. Customization and Personalization: Growing demand for personalized medicine is influencing the development of customized packaging solutions. This includes packaging designs tailored to specific drug formulations, dosages, and patient needs.
  4. Rise of Biopharmaceuticals: The increasing prevalence of biopharmaceuticals and biologics in the pharmaceutical industry is impacting packaging requirements. Plastic packaging solutions are evolving to address the unique challenges associated with storing and delivering these complex and sensitive products.
  5. E-commerce Impact: The rise of online pharmacies and e-commerce in the pharmaceutical sector is influencing packaging trends. There is a growing need for packaging that not only ensures product safety during transportation but also provides a user-friendly experience for consumers receiving medications through online channels.

Key Companies Profiled              

  1. Gerresheimer AG
  2. SCHOTT AG
  3. Alpha Packaging Holdings Inc
  4. Klöckner Pentaplast Group
  5. Amcor Plc
  6. Berry Global, Inc
  7. Becton, Dickinson and Company
  8. Parekhplast India Ltd
  9. West Pharmaceutical Services, Inc
  10. Wipak Group
  11. Mondi Plc.
  12. Sealed Air Corporation
  13. Constantia Flexibles Group GmbH

Request For Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-12419

Key Segments Covered

By Product:

  • Plastic Bottles
  • Caps & Closures
  • Pre-fillable Inhalers
  • Pre-fillable Syringes
  • Ampoules & Vials
  • Blister Packs
  • Bags & Pouches
  • Jars & Canisters
  • Cartridges
  • Other Products

By Material Type

  • Polyethylene (PE)
  • Polypropylene (PP)
  • Polyethylene Terephthalate (PET)
  • Polyvinyl Chloride (PVC)
  • Polyamide (PA)
  • Cyclo-olefin Polymer (COP)
  • Cyclo-olefin Copolymer (COC)
  • Other Materials

By Packaging Type:

  • Flexible Packaging
  • Rigid Packaging

By Drug Delivery Mode:

  • Oral Drug Delivery Packaging
  • Injectable Packaging
  • Topical Drug Delivery Packaging
  • Pulmonary Drug Delivery Packaging
  • Transdermal Drug Delivery Packaging
  • Ocular Drug Delivery Packaging
  • Nasal Drug Delivery Packaging
  • Other Drug Delivery Packaging

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa (MEA)

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

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 400 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