Pharmaceutical Packaging Market
The global pharmaceutical packaging market was valued at USD 105.01 billion in 2023 and is projected to grow to USD 110.55 billion in 2024, eventually reaching USD 176.94 billion by 2032. This represents a compound annual growth rate (CAGR) of 6.06% over the forecast period. North America led the market with a significant share of 30.02% in 2023. The expansion of the market is strongly influenced by the increasing adoption of both novel and generic drugs, particularly in developing countries, which is expected to contribute significantly to global growth.
The market is segmented based on material, including plastics, glass, metal, and paper & paperboard. It is also categorized by product types such as plastic bottles, caps & closures, pre-fillable inhalers, pre-fillable syringes, vials & ampoules, blister packs, bags & pouches, jars & canisters, and cartridges. The packaging types are classified into primary, secondary, and tertiary packaging, and the drug delivery modes vary across these categories.
The report titled “Pharmaceutical Packaging Market Size, Share & Industry Analysis, By Material (Plastics, Glass, Metal, Paper & Paperboard), By Product (Plastic Bottles, Caps & Closures, Pre-Fillable Inhalers, Pre-Fillable Syringes, Vials & Ampoules, Blister Packs, Bags & Pouches, Jars & Canisters, Cartridges), By Packaging Type (Primary, Secondary, and Tertiary), By Drug Delivery Mode, and Regional Forecast, 2024-2032” by Fortune Business Insights highlights the growing role of sustainable and innovative packaging solutions. The market, which had a size of USD 90.23 billion in 2019, has shown consistent growth driven by advancements in materials and the push for better safety and compliance in pharmaceutical logistics.
The Report Lists the Key Companies in the Pharmaceutical Packaging Market:
- Amcor Plc (Switzerland)
- Gerresheimer AG (Germany)
- Origin Pharma Packaging (UK)
- Nelipak Healthcare (Alberta)
- Pharma Packaging Solutions (TN)
- SCHOTT AG (Germany)
- Becton Dickinson & Company (US)
- West Pharmaceutical Services, Inc. (US)
- WestRock (US) AptarGroup, Inc. (US)
- Berry Global, Inc (US) NIPRO (Japan)
- Carcano Antonio S.p.A. (Italy)
- SABIC (Saudi Arabia)
- Lonza Group AG (Switzerland)
- ALPLA-Werke Alwin Lehner GmbH & Co KG (Austria)
- Constantia Flexibles (Austria)
- CCL Industries Inc. (Canada)
- Frank Noe Egypt Ltd (Egypt)
- Gaplast Gmbh (Altenau)
- Others
The report on the pharmaceutical packaging market encompasses:
- Grander analysis of the market
- Important insights into the competitive landscape
- Factors restricting market growth
- Recent trends and development
- Prime factors enabling growth
Market Driver:
Booming Pharmaceutical Industry to Boost Market
The flourishing pharmaceutical industry in developing nations such as China, India, and Brazil and developed economies such as the US, UK, and Germany will spur lucrative opportunities for the market during the forecast period. The increasing technological advancements and healthcare spending will contribute positively to the market growth. The growing healthcare awareness along with mandatory government regulations to curb the spread of infectious diseases will have a tremendous effect on the market. Moreover, the inflated demand for biological products and emerging treatments like cell and gene therapies will further enable the speedy expansion of the market.
Pharmaceutical Industry to Remain Unaffected During COVID-19 Pandemic
The coronavirus has disrupted various industries, resulting in the shortage of laborers & raw materials, distraught production processes, as well as transportation and logistics. However, the pharmaceutical industry remained unaffected owing to the government's support for the supply of essential drugs and goods. Pharmaceutical industries remained operational throughout the pandemic to manufacture healthcare products. The government backing for COVID kits and masks further encouraged packaging companies to accelerate their business amid the pandemic. The ongoing automated operations have increased sales in recent years, in turn, promoting the growth of the market.
Information Source: https://www.fortunebusinessinsights.com/pharmaceutical-packaging-market-102860
Regional Analysis:
Heavy Demand for Packaging Products to Aid Expansion in North America
The market in North America is expected to hold the largest share during the forecast period owing to the rapidly flourishing pharmaceutical industry. The increasing demand for packaging products will further enable speedy expansion in the region. The growing healthcare spending and rising prevalence of diseases will further spur demand in the region. The increasing utilization of pharmaceutical products such as plastic bottles & containers, vials & ampoules, and pre-fillable syringes will bolster the healthy growth of the market in North America. Asia Pacific is expected to hold a significant share in the global market owing to the growing pharmaceutical industry in countries such as China, Japan, and India. The rising investments by pharmaceutical manufacturing companies will contribute positively to the market growth.
Key Development:
June 2020: SCHOTT announced agreements with leading pharmaceutical companies, including partners of ‘Operation Warp Speed’ to deliver 2 billion doses of pharma vials packaging to COVID-19 vaccines
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