The pharmaceutical secondary packaging market is poised for substantial growth, according to the latest industry analysis. With an estimated value of US$ 41,950 million in 2023, the market is projected to expand to US$ 72,010 million by 2032, representing a notable compound annual growth rate (CAGR) of 6.2% over the forecast period.
The pharmaceutical industry is undergoing a significant transformation, marked by an increasing focus on ensuring the safety, security, and compliance of drugs. As a result, there is a growing demand for advanced secondary packaging solutions that can address these evolving needs while enhancing patient outcomes.
Get a Sample PDF of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-16614
Key factors driving the growth of the pharmaceutical secondary packaging market include:
- Rise in Unit Dose Packaging: The adoption of unit dose packaging for drugs is on the rise, driving the demand for secondary packaging solutions that ensure accurate dosage and reduce the risk of medication errors.
- Focus on Product Safety and Traceability: There is a growing emphasis on product safety and traceability, leading to increased sales of pharmaceutical secondary packaging designed to protect drugs from contamination, tampering, and to enable robust track-and-trace systems.
- Child-Resistant and Senior-Friendly Packaging: The demand for child-resistant and senior-friendly packaging is growing rapidly, driven by the need to prevent accidental ingestion of drugs by vulnerable populations.
- Increase in Prescription Drugs: The rising prevalence of prescription drugs is fueling demand for pharmaceutical secondary packaging, which facilitates safe and secure storage and transportation of these medications.
- Growth in Clinical Trials: With a surge in the number of clinical trials, there is a corresponding increase in the need for secondary packaging solutions that can safeguard drugs during transportation and storage.
- Emphasis on Patient Compliance: Healthcare providers are increasingly focused on improving patient compliance, leading to greater adoption of secondary packaging solutions that facilitate proper medication adherence.
Key Takeaways from the Pharmaceutical Secondary Packaging Market
- The paper and paperboard category is predicted to offer an incremental potential of US$ 21.9 billion by 2032, as well as a 6.6% CAGR throughout the projection period.
- With a market share of 25.1%, the folding cartons category now leads the industry.
- The pharma/biological pharmaceuticals area is the most profitable, accounting for an anticipated 53.4% of the market by 2032.
- During the projection period, the pharmaceutical secondary packaging sector in the United States is expected to exceed US$ 14,878.6 million.
- The market in Canada is expected to grow at a 6.3% CAGR during the forecast period, reaching US$ 4,085 million by 2032.
- Throughout the projection period, Germany is expected to account for 15.3% of Europe’s pharmaceutical secondary packaging business.
Purchase Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/16614
Who is Winning?
The pharmaceutical secondary packaging industry is highly competitive, with a large number of manufacturers vying for market share. Some of the key players in the industry include Amcor Limited, Berry Global Group, Inc., Bemis Company, Inc., DuPont de Nemours, Inc., E. I. du Pont de Nemours and Company, Gerresheimer AG, MeadWestvaco Corporation, Schott AG, Sealed Air Corporation, and West Pharmaceutical Services, Inc.
To attract more clients, players are focusing on delivering value-added services. Spray painting, UV coating, and metallization are the most prominent processes used by package producers to color-packing containers. In addition, pharmaceutical secondary packaging makers commonly use labeling and a range of covert and overt anti-counterfeit packaging measures, including barcodes, holograms, sealing tapes, and radio frequency-identifying devices.
Recent Developments by Key Players:
- Berry Global Group and Raw Elements USA cooperated to launch a sugarcane-based sustainable tube in January 2022. The tubes are made from waste sugarcane, which is converted into HDPE and LDPE to make a material with the same chemical composition as polyethylene obtained from fossil fuels.
- Gerresheimer AG and Stevanato Group have announced a collaboration to develop a new ready-to-use solution platform based on the EZ-fill® pre-sterilized platform in July 2022.
- In June 2021, Amcor PLC launched the ACT2100 heat seal coating for use with medical-grade DuPont Tyvek2 and paper packaging. This innovative coating process improves the performance characteristics of medical applications.
Request For Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-16664
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
By Region:
- North America
- Latin America
- Europe
- South Asia and the Pacific
- East Asia
- Middle East and Africa
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:
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
LinkedIn| Twitter| Blogs | YouTube
