According to Future Market Insights, the global pharmaceutical packaging market is projected to undergo significant growth in the foreseeable future. The expected surge in pharmaceutical sales, attributed to factors such as increased disease prevalence and growing health awareness, is a key driver behind this growth.
A notable trend in the industry is the emphasis on sustainable and environmentally friendly pharmaceutical packaging. This aligns with the broader focus on sustainability and eco-consciousness across various sectors.
Efficient and secure packaging is essential for pharmaceutical manufacturers and end users to maintain the integrity of drugs. Flaws in packaging materials or technology can have severe consequences, making reliable packaging options a priority for businesses.
Packaging plays a critical role in protecting medications from deterioration, spillage, and contamination, thereby extending their shelf life. Primary packaging options such as bottles, vials, ampoules, blisters, as well as secondary packaging like boxes and cartons, are commonly used for pharmaceutical products.
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The demand for child-resistant packaging formats has also witnessed significant growth recently. This is driven by the need to prevent accidental ingestion of excessive medication by children when their parents are not present.
As global pharmaceutical manufacturing and consumption continue to rise, the sales of pharmaceutical packaging are expected to follow suit. Future Market Insights anticipates ample opportunities for pharmaceutical packaging manufacturers throughout the forecast period, driven by increased global spending on pharmaceutical products.
It’s important to note that the information provided is based on Future Market Insights’ analysis. As an AI language model, I don’t have access to real-time data or the ability to verify specific market predictions. Therefore, it’s always advisable to refer to the latest industry reports and consult experts in the field for the most accurate and up-to-date information.
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.
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“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.
Rise in Per Capita Healthcare Expenditure to Facilitate Pharmaceutical Packaging Market Expansion
Considering the current scenario as well as the rising awareness about healthcare, investment in the healthcare sector is rising. Consumers are worried about the future as well as their current life which makes them think to invest in the healthcare sector.
Healthcare investment has a positive and direct correlation with the pharmaceutical industry. The pharmaceutical industry accounts for a sizable portion of the investments attracted for the expansion of the country’s economy.
As a result of consumers’ rising concern for their quality of life, there is an increase in the per capita cost of healthcare. The market for pharmaceutical packaging is expected to be positively impacted by rising healthcare spending across the world.
New Biological Drug Formulations Set to Improve Pharmaceutical Packaging Market
Novel biological drug medications are creating various complex challenges for the manufacturers of pharmaceutical packaging. The new pharmaceutical medications require innovative packaging concerning their molecule formulations and their interaction with packaging material. This is prompting manufacturers to develop new packaging formats which suit the new biological drug medications.
The glass vial is a case of a packaging format that is experiencing changes that reflect the market demand. Some novel biologics have properties that delaminate glass, prompting undesirable glass chipping in formulations.
Pharmaceutical packaging companies are currently taking a gander at how vials are framed in the heating procedure so that chipping can be alleviated. Hence, development of new biological drug formulations will trigger innovation in pharmaceutical packaging formats which will eventually boost the overall market.
Competitive Landscape
Key manufacturers of pharmaceutical packaging are focused on increasing their sales and revenues by introducing new innovative medicinal packaging solutions with different capacities.
They are also adopting a wide array of strategies such as mergers, partnerships, joint ventures, acquisitions, collaborations, research and development activities, and facility expansion to strengthen their presence in the global market.
Recent Developments:
- In January 2023, Amcor plc., a global leader in developing packaging solutions, acquired Shanghai-based MDK, a prominent provider of medical device packaging. Amcor strengthens its capabilities with this acquisition.
- In April 2022, a new sustainable pharmaceutical packaging (High Shield laminates) was launched by Amcor. The new packaging portfolio includes more sustainable pharmaceutical sachet, stickpack, and strippack packaging, available in both polyolefin-based and paper-based materials.
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Key Players:
- Amcor Plc
- Ardagh Group S.A.
- Becton, Dickinson and Company
- Berry Global Group, Inc.
- Bilcare Limited
- Catalent, Inc.
- Clondalkin Group Holdings B.V.
Pharmaceutical Packaging Industry by Category
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
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