With an excellent Pharmaceutical Packaging Industry study, obtaining ultimate level of market insights and knowhow of the greatest market prospects into certain markets becomes simple. The study examines the actions of major Pharmaceutical Packaging Market companies and brands in terms of product releases, product upgrades, joint ventures, mergers and acquisitions, and their impact on sales, imports, exports, revenue, and CAGR values.
Between 2022 and 2031, the global pharmaceutical packaging market is expected to grow at a CAGR of 7.4%, reaching US$ 178.8 billion.
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In the last few years, sales of pharmaceutical packaging solutions have exploded. This is due to the growing desire for child-resistant container styles that prevent inadvertent consumption. The demand for various packaging solutions is fueled by cost-effectiveness, ease of use, and durability. As manufacturers implement revolutionary easy-to-use-and-dispose features, the pharmaceutical packaging industry is expected to see increased demand.
Pharmaceutical packaging has gained popularity in recent years due to advancements in safety and security. In addition, the increased prevalence of diseases, combined with environmental concerns, is boosting pharmaceutical packaging activities.
Pharmaceutical product packaging is extremely important to medicine makers. Manufacturers are prioritising clean room packaging solutions to control the impact of the pandemic and other diseases, according to a Future Market Insights (FMI) analysis on the pharmaceutical packaging market. Bottles, vials, ampoules, blister packs, and other primary packaging alternatives are available, as well as supplementary packaging options like boxes, cartons, and more. Bottles are in high demand as a suitable type of pharmaceutical packaging among these.
Key Takeaways from Pharmaceutical Packaging Market Study
- By product type, bottles are estimated to lead the market with over 30% of the value share, by the end of 2031 supported by leak-proof packaging solutions
- Plastic is projected to be the most lucrative material in the industry creating an incremental opportunity of US$ 58.41 Bn by 2031
- The U.S. holds dominance in the North America market with the presence of some of the leading pharmaceutical manufacturers
- China will showcase a solid growth driven by the expansion of local pharmaceutical sector
- Germany is projected to be dominant in Europe and is expected to continue leading as a pharma packaging manufacturing hub
“Regulations implemented to ascertain safety of drugs & medications will create lucrative opportunities. Pharmaceutical packaging is sought-after due to its temperature & moisture resistance, durability, and ease of use. With the expansion of the pharmaceutical sector, manufacturers are likely to focus on the launch of novel technologies,” says an FMI analyst.
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Rise in Per Capita Healthcare Expenditure Augments Sales for Pharmaceutical Packaging
Considering the current scenario and rising awareness about the healthcare sector, investments in the drug and biopharmaceutical sectors are rising. Healthcare investments have had a positive and direct correlation with the pharmaceutical industry.
A major part of investments is attracted from the pharmaceutical industries for the growth of the country’s economy. The per capita expenditure on healthcare is increasing steadily due to the concerned behaviour of customers about shelf life.
As per a World Bank report, in 2018, Japan spent around 10.95% of its GDP on healthcare whereas Germany spent 11.43% of its GDP for the same. As a result, the market for pharmaceutical packaging has benefited as investments in the healthcare sector will favour growth of the pharmaceutical packaging industry.
Impact of COVID-19 on Pharmaceutical Packaging Market
The COVID-19 pandemic had a positive impact on the growth and demand for pharmaceutical packaging, supported by several factors such as an increase in the cases on-going disease, the urgent need for pharmaceutical products, and drastic demand for life-saving drugs & medicines.
Every regional market was impacted due to the COVID-19 pandemic, which ultimately created a requirement for drugs for treatments which in turn increased the demand for pharmaceutical packaging majorly in North America, Europe, and South & East Asia.
Later, at the beginning of 2021, the demand for pharmaceutical packaging rose strongly due to a rising number of COVID-19 positive cases in addition to the prevalence of other non-contagious diseases. Considering this, the demand for vaccine, injections, medicines, and other drugs has increased, fuelling sales opportunities for pharmaceutical packaging solutions.
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Who is Winning?
Westrock Company., Becton, Dickinson and Company, Amcor plc, Berry Global Group, Inc., Mondi group, and Ardagh Group S.A. are some of the leading players operating in the pharmaceutical packaging market.
As per FMI analysis, the Tier 3 players in the market are estimated to hold 70-80% in the global pharmaceutical packaging market. In conclusion, key players contribute almost 20-30% of the global market. Market leaders are largely focused on product development and merger & acquisition strategies.
Key Segments Covered in Pharmaceutical Packaging Research
Product Type
- Bottles
- Packer Bottles
- Liquid Bottles
- Vials & Ampoules
- Blisters
- Bags & Pouches
- Prefilled Syringes & Cartridges
- Sachets
- Trays
- Tubes
- Containers, Jars, & others
Material Type
- Plastics
- Polyethylene
- LDPE
- HDPE
- Polyvinyl Chloride
- Polypropylene
- Polyethyene Terephthalate
- Others (Polycarbonate)
- Polyethylene
- Glass
- Metals
- Paper
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa (MEA)
- Asia Pacific Excluding Japan(APEJ)
- Japan
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About Us
Future Market Insights (ESOMAR certified 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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