Pharmaceutical Packaging Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Pharmaceutical Packaging Market was worth US$ 93,900.0 Mn and is expected to grow at a CAGR of 7.4% over the forecast period. The market is expected to hit US$ 1,91,700.0 Mn by 2032 end.
As it is necessary to protect, preserve, and store different pharmaceutical items, including pharmaceuticals, treatments, and others, pharmaceutical packaging is a crucial area of the packaging business. Plastic, glass, metal, and paper are all used to manufacture pharmaceutical packaging. In addition to serving as a means of product protection and information delivery, pharmaceutical packaging also serves as a marketing tool.
Five key findings from ChemView Consulting’s pharmaceutical packaging market survey:
Unit Dose Containers Will Increase Due to Compliance and Infection Prevention Benefits
Increased efforts to improve patient adherence to medication schedules, both on a regular basis and for clinical trials, will favour increased use of blister and strip packs, single dose pouches, and other unit dose containers in oral and topical pharmaceutical packaging. Single-dose, prefilled syringes, and glass vials will experience the fastest unit and revenue growth of any pharmaceutical packaging type because they prevent cross contamination and the spread of infection and are commonly used to administer parenteral drugs and vaccines for bacterial, viral, and cancer diseases.
Safeguard Of Medicines Drives The Market Growth
The prevalence of retail pharmacies in emerging countries is increasing, and pharmaceutical manufacturers are emphasizing product differentiation and brand improvement. These factors are expected to drive market expansion. Products for packaging are mostly used to store formulations in their solid, liquid, and semisolid forms, such as tablets, capsules, syrups, and topical medicinal formulations. There is a greater demand for drugs due to the rising prevalence of chronic illnesses brought on by altered dietary patterns, lifestyles, and sleep cycles.
Lack Of Knowledge Hampers The Market Growth
In many developing economies, poverty is a significant obstacle to obtaining healthcare services. The main barriers that restrict access to healthcare services are financial limitations, a lack of knowledge, obsolete equipment, a shortage of qualified employees, and awareness of basic healthcare procedures.
Together, these problems limit the pharmaceutical packaging market’s expansion in developing nations like South Africa, Brazil, and India. The market will, nevertheless, see growth over the next five years due to improved governmental policies and stricter enforcement of laws.
The Covid-19 epidemic harmed the world’s healthcare sector. The COVID-19 pandemic impacted the pharmaceutical industry in several ways, including adjustments to demand, revisions to regulations, adjustments to R&D procedures, supply chain reorganization, and a move toward telemedicine and teleconsulting.
In addition, the COVID-19 pandemic is expected to have long-term effects on the pharmaceutical sector globally and locally. These effects could include trends like industry slowdown, approval delays, self-sufficiency in the pharmaceutical product supply chain, modifying clinical trial methods, and changes in consumer preferences for health & nutritional products.
Market Segments Covered in Report
By Product Type:
By Material Type:
By Region and Country:
Why is the plastics segment expected to expand the fastest during the forecast period?
In 2021, plastics and polymers accounted for more than 35.0% of total sales. Pharmaceutical vials, bottles, closures, syringes, pouches, sachets, cartridges, tubes, and blister packs are frequently made from various plastic resins, including PE, PET, PP, PVC, PS, and bioplastic.
Polypropylene (PP), which combines useful qualities including mechanical, physical, electrical, and thermal features, accounted for the greatest revenue share in the plastic and polymers material sector in 2021.
Why does the Plastic Bottles segment hold the largest share of the global pharmaceutical packaging market?
Based on product type, the plastic bottles segment dominated the market. This segment’s growth can be attributed to its lightweight, easy-to-mold, and low-cost properties. Furthermore, plastic bottles have become popular for packaging solid and liquid pharmaceutical preparations such as tablets, capsules, syrups, ophthalmic and nasal medications. The pharmaceutical industry’s increasing demand for plastic bottles is expected to drive market growth.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Due to the various competitors present worldwide, the global industry is quite competitive. Additionally, important firms are strengthening their market positions mostly via acquisitions, escalating rivalry. Important businesses engage in direct competition with one another to win contracts from big pharmaceutical makers. Thus, it is noted that there is intense competition in the worldwide market.
As many as 1,500 manufacturers and contract packaging firms supply packaging to the global pharmaceutical industry. The industry is highly fragmented. Leading suppliers have acquired other important industry players to expand their reach and offer new products and technologies in order to compete better.
Major firms are pursuing expansion tactics to increase their market penetration, including mergers and acquisitions and new product development.
Some of the key developments that have taken place in the Pharmaceutical Packaging Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Material Type, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 7.4%.
The major trend that drives the market for pharmaceutical packaging is the preference for a single-dose packaging format, which ensures the consumption of the prescribed quantity at one point and safeguards the remaining medicine.
Major global Pharmaceutical Packaging Market players are Amcor Plc, Ardagh Group S.A., Becton, Dickinson and Company, UDG Healthcare plc, Berry Global, Inc, Bilcare Limited, Catalent, Inc, Clondalkin Group Holdings B.V, Constantia Flexibles Group GmbH, Gerresheimer AG, Klockner Pentaplast Group, Mondi Group, Nipro Corporation, Piramal Glass Limited and Schott AG.
The main barriers that restrict access to healthcare services are financial limitations, a lack of knowledge, obsolete equipment, a shortage of qualified employees, and awareness of basic healthcare procedures.
The North American region is expected to account for the largest market revenue share in the Global Pharmaceutical Packaging market.
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