E-Commerce Rx: Pharmaceutical Contract Packaging Thrives with a 7.5% CAGR, Riding the Wave of Expanding Online Business and Stricter Government Norms

The global pharmaceutical contract packaging market is poised to reach US$ 6.1 billion in 2023, with a projected 7.5% CAGR driving the industry toward a robust valuation of US$ 11.9 billion by 2033. Key trends include a surging demand for eco-friendly and reusable pharmaceutical packaging, spurred by environmental concerns.

The rise of e-commerce amplifies market reach, while stringent government norms enforce quality standards in pharmaceutical packaging. Prioritizing materials that withstand adverse environmental conditions is crucial for industry leaders. Additionally, a scale-oriented acquisition strategy, marked by mergers between packaging companies and clientele, contributes to sustained market growth.

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Industry Trends:

  1. Increased Outsourcing of Packaging Services: Pharmaceutical companies are increasingly outsourcing packaging services to specialized contract packaging providers. This trend allows pharmaceutical companies to focus on their core competencies, reduce costs, and benefit from the expertise of specialized packaging professionals.
  2. Serialization and Track-and-Trace Systems: With the growing emphasis on safety and compliance, there’s a trend toward implementing serialization and track-and-trace systems in pharmaceutical packaging. This helps in ensuring the integrity of the supply chain and complying with regulatory requirements, providing transparency and accountability.
  3. Customization and Flexible Packaging Solutions: The demand for customized packaging solutions is on the rise in the pharmaceutical industry. Contract packaging providers are adapting to offer flexible packaging options that cater to unique product requirements, dosage forms, and patient needs, providing a competitive edge in the market.
  4. Adoption of Sustainable Packaging Practices: As environmental concerns gain prominence, the pharmaceutical contract packaging industry is witnessing a shift towards sustainable packaging practices. Companies are exploring eco-friendly materials and implementing environmentally responsible packaging solutions to reduce their carbon footprint and meet consumer expectations.
  5. Integration of Advanced Technologies: Incorporating advanced technologies such as automation, robotics, and artificial intelligence into pharmaceutical contract packaging processes is a growing trend. This not only enhances efficiency but also ensures precision, accuracy, and compliance with quality standards, ultimately driving innovation in the industry.

Business Growth Drivers:

  1. Rising Demand for Biopharmaceuticals: The increasing development and production of biopharmaceuticals, which often require specialized packaging, present a significant growth opportunity for contract packaging providers. The unique packaging needs of biologics and biosimilars create a niche market for those offering tailored solutions.
  2. Globalization of Pharmaceutical Supply Chains: As pharmaceutical supply chains become more globalized, there is a growing need for efficient and standardized packaging solutions. Contract packaging companies with the capability to operate on a global scale and comply with diverse regulatory requirements are well-positioned for growth.
  3. Stringent Regulatory Compliance Requirements: The pharmaceutical industry is subject to stringent regulatory requirements, especially regarding packaging and labeling. Contract packaging providers that can consistently meet and exceed these standards become strategic partners for pharmaceutical companies seeking compliance and risk mitigation.
  4. Increasing Complexity in Drug Delivery Systems: With advancements in drug delivery systems, such as injectables, inhalers, and transdermal patches, there’s a demand for specialized packaging solutions. Companies offering expertise in handling complex drug delivery systems have a competitive advantage in the market.
  5. Collaboration and Strategic Partnerships: Building strategic partnerships with pharmaceutical companies and other stakeholders in the supply chain is a key driver for growth. Collaborative efforts can lead to long-term contracts, innovation, and a broader service portfolio, enabling contract packaging providers to capture a larger share of the market.

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Regional Outlook: 

The pharmaceutical contract packaging market showcases distinct regional dynamics, with the United States dominating North America, contributing around 90% of the region’s total business. In Europe, Germany takes the lead, fostering the establishment of pharmaceutical packaging industries, with the regional market expected to grow at a 5% annual rate from 2023 to 2033. Meanwhile, China emerges as a powerhouse in the Asia Pacific, poised for a remarkable CAGR of 8.7%. India, with a lucrative growth rate of 9.1%, presents significant opportunities, driven by the outsourcing trend in pharmaceutical manufacturing. The regional growth rates underscore the global industry’s shift towards emerging economies.

Key Players: 

Some of the major players identified in the global Pharmaceutical Contract packaging market are

  • Catalent Pharma Solutions
  • Patheon
  • Baxter BioPharma Solutions
  • AbbVie Contract Manufacturing
  • Pfizer CentreSource
  • Daito Pharmaceutical
  • Nipro Corporation

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.

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Key Segments:

By Type:

  • Flexible Packaging
  • Plastic/Glass Containers
  • Caps/Closures

By Form:

  • Oral
  • Injectable

By Application:

  • Autacoids & Related Drugs
  • Contraceptives
  • Hormone Replacement
  • Cardiovascular Medicines
  • Cancer Therapies

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Middle East and Africa
  • Europe

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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