Rising Generic Drug Manufacturing Spurs Growth in India's Pharmaceutical Packaging Market
Rising Generic Drug Manufacturing Spurs Growth in India's Pharmaceutical Packaging Market
The India pharmaceutical packaging market comprises various packaging products such as plastic bottles

The India pharmaceutical packaging market comprises various packaging products such as plastic bottles, blister packs, glass containers, caps & closures, pre-filled syringes, and ampoules that are used for packaging pharmaceutical drugs and medicines. Pharmaceutical packaging helps protect drugs and medicines from potential contamination and damage during storage and transportation. It also helps brand the pharmaceutical products and provides product information and details to the consumers. The market is driven by the rising generic drug manufacturing industry in India along with the growth of the pharmaceutical industry. India is the largest provider of generic drugs globally with over 50% of generic drugs coming from India. Additionally, cost efficiency, availability of raw materials, and minimal regulatory compliance have also supported generic drug making in the country.

The Global India pharmaceutical packaging market is estimated to be valued at US$ 1.96 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the India pharmaceutical packaging are IBM Corporation, Lucid Work Incorporation, Microsoft Corporation, Dassault Systems S.A., Oracle Corporation, X1 Technologies Inc., SAP AG, Coveo Corporation, and Attivio Software Incorporation. These players compete based on parameters such as design, materials, cost, and functionality.

In terms of opportunities, the market provides huge scope for growth owing to rising healthcare infrastructure along with increasing demand for India Pharmaceutical Packaging Market Demand. Additionally, innovative packaging solutions that promote drug security and anti-counterfeiting measures also present attractive opportunities.

On the global expansion front, major Indian pharmaceutical packaging companies are expanding in countries with rising generic drug demand such as the United States, Europe, and Asian countries such as China and Japan. This allows them to access wider international markets and leverage manufacturing and supply chain efficiency.

Market Drivers

- Rising generic drug manufacturing industry: As discussed earlier, India accounts for over 50% of global generic drugs. This has tremendously boosted the demand for pharmaceutical packaging in the country.

Market Restrain

- Stringent regulatory norms: The pharmaceutical packaging industry is tightly regulated by government bodies to ensure drug safety, efficacy and prevent counterfeiting. Frequent changes in norms increases compliance cost and delays new product launches.

Segment Analysis

The India Pharmaceutical Packaging Market is dominated by primary packaging sub-segment. Primary packaging sub-segment includes rigid packaging such as blisters and bottles for pharmaceutical products. It accounts for over 60% of the market share as most pharmaceutical products are dispensed in rigid containers for protection and preservation. Blisters packaging dominates the primary packaging sub-segment as majority of tablets and capsules are packed in blisters due to easy opening and closing functionality for end consumers.

The secondary packaging sub-segment holds the second largest share in the market. Secondary packaging such as boxes, bags, and wrappers to group primary packages for logistic and retail purposes. It captures around 30% of the market share. The tertiary packaging sub-segment has a minimal market share of less than 10%. Tertiary packaging involves the outer package to protect secondary or bundled packages of pharmaceutical products during transportation.

Global Analysis

In terms of regional analysis, the Southern region of India dominates the India Pharmaceutical Packaging Market and is expected to grow at the fastest rate during the forecast period. The growth can be attributed to the presence of well-established domestic pharmaceutical companies and contract manufacturers in states like Karnataka, Tamil Nadu, and Kerala. The thriving pharmaceutical industries and Government initiatives for healthcare infrastructure development support the market growth. The Western and Northern regions hold the second and third largest market share with established pharmaceutical hubs like Mumbai, Pune and Ahmedabad contributing significantly. The Eastern region captures a minimal share and is projected to exhibit moderate growth through 2031.

Gets More Insights on: India Pharmaceutical Packaging Market

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