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Pharmaceutical Packaging Market - By Type, Material, Drug Delivery Mode & Region-(North America, Europe, Asia Pacific, Latin America, Middle east and Africa) - Global Industry Analysis on Size, Share, Trends, Growth & Forecast Report | (2023-2028)

Published: March, 2023
ID: 9672
Pages: 175
Formats: report pdf report excel report power bi report ppt

Pharmaceutical Packaging Market Size (2023-2028)

Pharmaceutical Packaging Market at USD 78.55  billion in 2022 and is estimated to reach USD 115.84 billion by 2028 at a CAGR of 8.1%

The pharmaceutical industry is booming in economies like China, India, and Brazil due to the increasing population, rising disposable income, and augmenting focus on increasing life expectancy. Moreover, the increasing concentration of pharmaceutical packaging makers on the adoption of biodegradable and recyclable materials is likely to fuel the growth of this business further.

A significant loss in revenue due to the counterfeiting of products is not able to be upheld for companies. Therefore, companies reduce revenue loss due to complex supply chain issues and invest more to a great extent with anti-counterfeit solutions for their drugs. Manufacturers of pharmaceutical packaging are determined to focus on design-level innovations to address the existing problems in the industry. R&D in the pharmaceutical industry is seeming to have no ending process. New biological drug formulations will continue to drive demand for innovative pharmaceutical packaging solutions, which keep drug interaction with the packaging material.

Drivers in the Pharmaceutical Packaging Market:

The rising need for robust packaging material for pharmaceutical purposes is supposed to fuel in the following years with a high prevalence of chronic disorders among people that requires the intake of different drugs. The global rise in population and different demographics supporting the pharmaceutical industry in various areas offer immense growth potential for leading companies that are experiencing issues like market saturation, stringent regulatory policies, and patent expiry. An important role in enhancing the Pharmaceutical Packaging Market is the introduction of innovative packaging in Nanotechnology, biotechnology, and electronics.

Restraints in the Pharmaceutical Packaging Market:

On the other hand, poverty, lack of proper infrastructure, low literacy rate, and prevalence of unorganized healthcare systems in emerging markets are restraining the growth of the market. Poverty is a significant barrier to accessing healthcare facilities in these becoming apparent or prominent economies. Financial constraints, lack of information, outdated equipment, lack of proper staff, and awareness of proper healthcare practices are the major challenges that limit access to healthcare services. These are acting as a challenge to the development of the global pharmaceutical packaging market in emerging regions such as India, Brazil, South Africa, and others.  Fluctuations in the availability of raw materials for packaging are acting as a threat to business development.

PHARMACEUTICAL PACKAGING MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022-2028

Base Year

2022

Forecast Period

2023-2028

CAGR

8.1%

Segments Covered

  • By Type
  • By Drug-Delivery Mode
  • By Material
  • By Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

  • North America
  • Europe
  • Asia Pacific 
  • Latin America
  • Middle East & Africa

Market Leaders Profiled

  • Amcor Plc
  • Gerresheimer AG
  • AptarGroup Inc
  • Becton
  • Dickinson and Company
  • Schott AG
  • West Pharmaceutical Services Inc
  • Berry Global

 

Pharmaceutical Packaging Market

This report includes the segmentation of the Pharmaceutical Packaging Market as per the latest survey until 2028.

Pharmaceutical Packaging Market Analysis

Pharmaceutical Packaging Market - By Type:

  • Plastic Bottles
  • Blister Packs
  • Labels & Accessories
  • Caps & Closures
  • Pre-filled Syringes
  • Vials
  • Ampoules
  • Others (paperboard boxes, corrugated boxes, and trays)

By type, the prefilled syringes segment is the fastest-growing type in the overall pharmaceutical packaging market, owing to the increased cases of diabetes. Pre-filled syringes offer the absence of difficulty of usage in terms of self-drug administration. Bottles are crucial for storing drugs in both liquid and solid forms and can be integrated with the cap and closure to meet specific applications like nasal spray and ophthalmic drops.

Pharmaceutical Packaging Market - By Drug-Delivery Mode:

  • Oral Drugs

  • Injectable

  • IV Drugs

  • Others

Based on drug delivery, the oral drugs segment is estimated during the outlook period to account for the largest share. The oral drug delivery mode is also the most substantial portion of the overall business. This large market size can be contributing to the increased occurrence of chronic diseases, improving patient compliance, reformulation, and repositioning of drugs using advanced oral delivery systems.

Pharmaceutical Packaging Market - By Material:

  • Plastics & Polymers

  • Paper & Paperboards

  • Glass

  • Metals

On the basis of material, the plastics & polymers material segment accounted for the largest revenue share in 2019 and be involved to continue its power and influence over others. Globally, both glass and metal are estimated during the forecast period to register growth rates of over 4% and 6% respectively. Pharmaceutical packaging makers assist the growing ecosystem for recyclable materials and are heavily funding recovery and recycling facilities.

Pharmaceutical Packaging Market - By Region:

  • North America Pharmaceutical Packaging Market

  • Europe Pharmaceutical Packaging Market

  • Asia Pacific (APAC) Pharmaceutical Packaging Market

  • Middle East & Africa Pharmaceutical Packaging Market 

  • Latin America Pharmaceutical Packaging Market

Pharmaceutical Packaging Market Regional Analysis

APAC is estimated during the calculated period as the fastest-growing market for pharmaceutical packaging. In pharmaceutical packaging market in the Asia Pacific is driven by the increasing government initiatives independently, an increase in contract manufacturing activities, a rise in the aging population, and increased spending on healthcare. China and India are sufficiently great or important markets in this region. The demand for pharmaceutical packaging has also increased to a significant extent in other developing economies like Brazil and Russia.

Recent Developments

  • January 2020: Pharma Packaging launched a novel packaging solution exclusively designed and developed for the medicinal cannabis industry.

  • July 2019: Berry Global completed its takeover of the UK-domiciled plastic packaging company, RPC Group, for approx.  USD 6.5 billion.

The pharmaceutical packaging market includes the top leading companies as below.

  1. Amcor Plc

  2. Gerresheimer AG

  3. AptarGroup Inc.

  4. Becton

  5. Dickinson and Company

  6. Schott AG

  7. West Pharmaceutical Services Inc.

  8. Berry Global

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