The Pharmaceutical Secondary Packaging Industry is expected to be worth US$ 41,950 million in 2023, rising to US$ 72,010 million by 2032. Revenue from pharmaceutical secondary packaging sales is predicted to grow at a CAGR of 6.2% during the forecast period.
The pharmaceutical secondary packaging industry is witnessing significant growth, driven by various factors such as the increasing use of unit dose packaging for drugs, the growing importance of product safety and traceability, and the increasing use of child-resistant and senior-friendly packaging. The rise in Unit Dose Packaging is one of the key drivers of the industry.
The increasing demand for child-resistant and senior-friendly packaging is also driving the growth of the industry. These packaging options are designed to prevent accidental ingestion of drugs by children and older adults. This helps to improve patient safety and reduce the risk of medication errors. Additionally, the growing number of prescription drugs is driving the revenue growth from the sales
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Prominent Growth Limiting Challenges Faced by Manufacturers in the Industry
Quality Assurance Complexities: Maintaining consistent quality control in the production of secondary packaging presents a significant and enduring challenge for manufacturers. This challenge is particularly pronounced in the case of packaging used for drug transportation and storage, where even minor imperfections can result in product damage or contamination.
Regulatory Hurdles: Manufacturers involved in pharmaceutical secondary packaging face rigorous regulatory requirements that can pose formidable barriers to introducing new products to the market. These stringent regulations not only slow down the development of innovative packaging solutions but also drive up associated time and expenses.
Escalating Costs: The escalating costs of raw materials and production processes represent a substantial obstacle for pharmaceutical secondary packaging manufacturers. This economic challenge can hinder their competitiveness within the industry, especially as prices continue to rise.
Drivers:
- Pharmaceutical Industry Growth: The expansion of the pharmaceutical industry, driven by aging populations and increasing healthcare needs, fuels the demand for secondary packaging to protect and preserve medications.
- Stringent Regulations: Strict regulatory requirements for pharmaceutical packaging to ensure product safety and compliance with labeling and serialization standards drive the adoption of advanced secondary packaging solutions.
- Patient Safety: Ensuring the safety of pharmaceutical products during storage and transportation is a top priority, driving the need for secure and tamper-evident secondary packaging.
- Biopharmaceuticals and Specialty Drugs: The growth of biopharmaceuticals and specialty drugs with unique packaging requirements increases the demand for specialized secondary packaging solutions.
- Customization and Branding: The need for product differentiation and branding in the pharmaceutical sector encourages the use of innovative and customized secondary packaging.
- E-commerce and Direct-to-Patient Delivery: The rise of e-commerce in the pharmaceutical sector requires secure secondary packaging for direct-to-patient deliveries, enhancing convenience and accessibility.
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Key Takeaways from the Pharmaceutical Secondary Packaging Industry
- 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.
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.
Pharmaceutical Secondary Packaging Industry 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
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