According to Future Market Insights, the global pharmaceutical packaging market is poised for significant growth in the coming years. This growth is primarily driven by the projected increase in pharmaceutical sales, which is fueled by factors such as rising disease prevalence and growing health awareness.
A notable trend in the pharmaceutical packaging industry is the development of sustainable and environmentally friendly packaging solutions. This aligns with the increasing focus on sustainability and eco-consciousness across various sectors.
Efficient and secure packaging is crucial for pharmaceutical manufacturers and end users to ensure the integrity of drugs. Reliable packaging options are prioritized to avoid flaws in packaging materials or technology, which could have serious consequences.
Packaging plays a vital role in protecting medications from deterioration, spillage, and contamination, thereby extending their shelf life. Various primary packaging options, including bottles, vials, ampoules, blisters, as well as secondary packaging such as boxes and cartons, are used for pharmaceutical products.
The demand for child-resistant packaging formats has also witnessed significant growth, driven by the need to prevent accidental ingestion of excessive medication by children.
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With the global increase in pharmaceutical manufacturing and consumption, the sales of pharmaceutical packaging are expected to rise. Future Market Insights suggests that pharmaceutical packaging manufacturers will have ample opportunities throughout the forecast period, benefiting from increased global spending on pharmaceutical products.
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.
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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.
Key Insights oF The Report
- Key Trends in the pharmaceutical packaging market
- New Advancements in Production Technologies
- New Product Launches, Expansions of pharmaceutical packaging market
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’s Dominance in Pharmaceutical Packaging Driven by Booming Industry and Medication Spending
The USA maintains its undisputed leadership in the global pharmaceutical packaging industry due to 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 a significant increase in drug utilization and the development of new drugs. The continuous growth of the pharmaceutical industry, coupled with rising drug spending, fuels the demand for pharmaceutical packaging solutions. Furthermore, the presence of key pharmaceutical packaging companies and the country’s focus on research and development for innovative therapies contribute to the USA’s position as a leader in pharmaceutical packaging.
India’s Thriving Pharmaceutical Export Market Drives Demand for Pharmaceutical Packaging
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. The Indian 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 fuel 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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