According to the latest market analysis report by Future Market Insights (FMI), the global pharmaceutical plastic packaging market is experiencing significant growth. In 2023, the market’s net worth is projected to be approximately US$ 54,820.9 million. Driven by the increasing development of various medications and the rising prevalence of chronic diseases, the market is anticipated to expand at a robust CAGR of 5.8% from 2023 to 2033, reaching a valuation of US$ 96,339.2 million by the end of the forecast period.
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Key Drivers of Market Growth
1. Development of Medications and Drugs: The rapid development of new medications and drugs across various countries is a major factor driving the adoption of pharmaceutical plastic packaging solutions. Pharmaceutical companies are investing heavily in custom packaging solutions to meet the demands of drug export and distribution.
2. Rising Prevalence of Chronic Diseases: The global increase in chronic diseases has strengthened the need for effective and reliable pharmaceutical packaging solutions. This trend is significantly boosting the market for pharmaceutical plastic packaging.
3. Health Consciousness and Supplement Consumption: Growing health consciousness among consumers and the increasing consumption of food supplements are expected to drive steady demand for pharmaceutical plastic packaging over the next decade.
4. Advancements in Packaging Technology: Innovations in drug delivery and packaging technologies, including the development of eco-friendly and biodegradable plastic packaging solutions, are further propelling market growth. The implementation of advanced counterfeiting techniques is also enhancing the security and integrity of pharmaceutical packaging.
Key Takeaways from the Pharmaceutical Plastic Packaging Market Study Report
- The United States pharmaceutical plastic packaging market is expected to witness consistent growth of 3.6% in the forecast period, owing to rising demand after the pandemic.
- East Asia has emerged as the most lucrative market for pharmaceutical plastic packaging and is expected to create an incremental opportunity of nearly US$ 12 billion by 2030.
- Among the different types of products, plastic bottles rule the roost by contributing 40% market share, followed by caps & closures.
- Primary packaging witnesses the highest demand as it comes in direct contact with the drug. Secondary and tertiary packaging implies the packaging of different groups of primary packaging.
- The next generation of prefilled syringes and cartridges is expected to outbid demand for expensive intravenous infusions (IV infusions) during the forecast period. Such advancements may lead to significant momentum in the production and sales of pharmaceutical plastic packaging going forward.
- Also, Zip-lock bags and pouches are gaining significant traction in the global market as it requires skill to slide a zipper and access the content. Further, the flap provided on the zipper covers it completely when the bag is not in use making it higher in demand these days. It could be quite lucrative for drug packaging solution providers to increase their production capacity and market position in the coming days.
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Growth Drivers in Pharmaceutical Plastic Packaging Industry:
- 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.
- 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.
- 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.
- 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.
- 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.
Industry Trends:
- 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.
- 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.
- 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.
- 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.
- 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
- Gerresheimer AG
- SCHOTT AG
- Alpha Packaging Holdings Inc
- Klöckner Pentaplast Group
- Amcor Plc
- Berry Global, Inc
- Becton, Dickinson and Company
- Parekhplast India Ltd
- West Pharmaceutical Services, Inc
- Wipak Group
- Mondi Plc.
- Sealed Air Corporation
- Constantia Flexibles Group GmbH
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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)
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.
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