Pharmaceutical Packaging Market

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:

• After 2020, the pharmaceutical industry will see a rapid increase in eco-friendly and sustainable packaging.
• The market is expanding due to increased demand for child resistance packaging.
• The most significant barrier to the growth of the pharmaceutical packaging market is fluctuating prices and a scarcity of raw materials.
• Pharma Manufacturing has the largest end-user market share and is expected to maintain its dominance throughout the forecast period.
• The North American region dominated the market, accounting for the majority of the market share.

Market Dynamic

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.

COVID-19 Impact

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:

• 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
  • Polypropylene
  • Polyethylene Terephthalate
  • Others (Polycarbonate)
• Glass
• Metals
• Paper

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

• In 2021, North America held a revenue share of approximately 0%, dominating the market. The main end-use sector in the area in 2021 was pharmaceutical manufacturing, including internal production. To hasten the development of medical products, the 21st Century Cures Act (Cures Act) was signed into law in the United States on December 13, 2016. The law is anticipated to spur product advancements in the pharmaceutical sector, which will, in turn, stimulate North American demand for pharmaceutical packaging.
• From 2021 to 2032, Asia Pacific will experience the fastest CAGR of 9%. Over the projection period, it is predicted that growing disposable income levels and increased health awareness among consumers in the Asia Pacific, particularly in developing nations like China and India, would promote the expansion of the pharmaceutical sector.

Competition Analysis

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:

• In June 2019, CCC Packaging purchased Tri State Distribution, Inc., a retail pharmaceutical packaging solution provider. The purchase goal was to increase the company’s client base and pharmaceutical products.

A list of some of the key suppliers present in the market 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
• Schott AG

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.