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.
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.
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 Financial constraints, lack of information, outdated equipment, lack of proper staff, and awareness of proper healthcare practices are the major challenges that limit access to healthcare services.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.
REPORT METRIC |
DETAILS |
Market Size Available |
2022-2028 |
Base Year |
2022 |
Forecast Period |
2023-2028 |
CAGR |
8.1% |
Segments Covered |
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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 |
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Market Leaders Profiled |
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This report includes the segmentation of the Pharmaceutical Packaging Market as per the latest survey until 2028.
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.
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.
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
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.
Amcor Plc
Gerresheimer AG
AptarGroup Inc.
Becton
Dickinson and Company
Schott AG
West Pharmaceutical Services Inc.
Berry Global
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