According to Future Market Insights (FMI), the global pharmaceutical packaging market is poised for significant growth in the foreseeable future. This growth is attributed to the projected increase in pharmaceutical sales, fueled by factors such as rising disease prevalence and growing health awareness worldwide.
A notable trend in the pharmaceutical packaging industry is the increasing focus on sustainable and eco-friendly packaging solutions, aligning with the growing emphasis on sustainability across various sectors.
For pharmaceutical manufacturers and end users, reliable and efficient packaging is of utmost importance to ensure the integrity of drugs. The industry places significant emphasis on packaging options that minimize flaws in materials or technology, as any defects could have severe consequences.
Packaging plays a critical role in protecting medications from deterioration, spillage, and contamination, thus extending their shelf life. Various primary packaging options, including bottles, vials, ampoules, and blisters, along with secondary packaging such as boxes and cartons, are used for pharmaceutical products.
The demand for child-resistant packaging formats has also witnessed substantial growth, driven by the need to prevent accidental ingestion of excessive medication by children.
As pharmaceutical manufacturing and consumption continue to rise globally, the sales of pharmaceutical packaging are expected to increase. FMI forecasts ample opportunities for pharmaceutical packaging manufacturers throughout the forecast period, benefiting from the heightened global spending on pharmaceutical products. The industry’s focus on safety, sustainability, and efficient packaging solutions is expected to drive its growth in the coming years.
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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.
“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.
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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.
Key Insights from the Report:
- Key Trends in the Pharmaceutical Packaging Market: The report highlights key trends observed in the pharmaceutical packaging market. These trends may include the adoption of sustainable packaging solutions, increasing demand for child-resistant packaging formats, the use of smart packaging technologies, and advancements in anti-counterfeiting measures, among others.
- New Advancements in Production Technologies: The report discusses new advancements in production technologies within the pharmaceutical packaging industry. This may include the use of innovative materials, improved manufacturing processes, automation and robotics, and the integration of digital technologies for enhanced efficiency and quality control.
- New Product Launches and Expansions: The report provides insights into recent new product launches and expansions in the pharmaceutical packaging market. It covers information on key players introducing innovative packaging solutions, expanding their manufacturing facilities or distribution networks, and entering into strategic partnerships to strengthen their market presence
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.
Regional Analysis:
USA Dominance in Pharmaceutical Packaging:
The USA maintains its undisputed leadership in the global pharmaceutical packaging industry, driven by the expansion of its pharmaceutical sector and increased spending on medicines. With a massive share of 94.1% in the North America pharmaceutical packaging market, the USA’s dominance is projected to reach 95.1% by 2033. The country’s pharmaceutical spending reached a staggering $576.9 billion in 2021, with significant growth in drug utilization and the development of new drugs. The continuous growth of the pharmaceutical industry and rising drug spending fuel the demand for pharmaceutical packaging solutions. The presence of key pharmaceutical packaging companies and a focus on research and development for innovative therapies further solidify the USA’s position as a leader in pharmaceutical packaging.
India’s Thriving Pharmaceutical Export Market:
India is emerging as a highly lucrative market for pharmaceutical packaging manufacturers due to its robust pharmaceutical industry and growing export of generic medicines. As the third-largest producer of pharmaceuticals globally, India is known for manufacturing affordable and high-quality generic drugs. The country’s pharmaceutical exports surpass imports, resulting in a substantial trade surplus. India’s pharmaceutical sector has played a vital role in mitigating the challenges of the pandemic by ensuring a constant supply of medicines. The rising production and export of generic medicines from India drive the demand for pharmaceutical packaging solutions. Additionally, easy availability of raw materials, favorable government support, and the expansion of leading pharmaceutical packaging manufacturers in India contribute to the growth of the pharmaceutical packaging market in the country
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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
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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