Pharmaceutical Packaging Market will value USD 252.94 billion by 2029 : GreyViews

Pharmaceutical Packaging Market Size By Product (Primary, Secondary, and Tertiary), By Material (Plastics & Polymers, Glass, Paper & Paperboard, Aluminum Foil, and Others), By End-user (Pharma Manufacturing, Contract Packaging, Institutional Pharmacy, and Retail Pharmacy), Regions, Segmentation, and forecast till 2029.

Pune India, Dec. 21, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the pharmaceutical packaging market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the pharmaceutical packaging market is present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, material, end-user, and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs. 

The significant players operating in the global pharmaceutical packaging market are Amcor plc, Gerresheimer AG, Becton, Dickinson, and Company, AptarGroup, Inc., West Pharmaceutical Services, Inc., Drug Plastics Group, Schott AG, WestRock Company, Owens Illinois, Inc., Comar, LLC, Berry Global, Inc., SGD Pharma, International Paper, CCL Industries, Inc., Vetter Pharma International among others. To achieve a substantial market share in the worldwide pharmaceutical packaging market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Pharmaceutical packaging refers to the packages and packing techniques for pharmaceutical formulations (or medication packaging). It includes all stages of the process, from drug production to final consumption via multiple distribution routes. The particular legislation governing pharmaceutical packaging may differ depending on the nation of origin or location. Control of potential packaging component migration into the drug, control of drug degradation by oxygen, moisture, heat, etc., control of microbial contamination, sterility, assurance of patient safety, assurance of the efficacy of the drug through the intended shelf life, uniformity of the drug across different production lots, thorough documentation of all materials and processes, and so on are all possible. Packaging is occasionally required for pharmaceutical medication dispensing, dosing, and use. Regulations also govern the distribution of user instructions and warning labels. The packaging of a medicinal product is critical. Pharmaceutical packaging is usually envisioned in terms of the distribution system segment encountered as well as the functionality required by the package’s intended user. There are numerous packing criteria. Bulk pharmaceuticals can be supplied to customers overseas, to a contract packager for unit pack assembly, to another pharmaceutical company for additional processing, and so on. Shipping containers for bulk shipments include intermediate bulk containers, bulk boxes, corrugated boxes with liners, fiber drums (with plastic liners), and bulk boxes. Smaller bulk shipments to pharmacies, particularly compounding pharmacies, can be made.

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Scope of Pharmaceutical Packaging Market Report

Report Metric Information
Study Period 2021-2029
Base Year           2021
Forecast Period 2022-2029
Market Share Unit USD Billion
Segments Covered Product, Material, End-user, and Regions
Regions Covered North America, Europe, Asia-Pacific, South America and Middle-East and Africa
Major Players Amcor plc, Gerresheimer AG, Becton, Dickinson, and Company, AptarGroup, Inc., West Pharmaceutical Services, Inc., Drug Plastics Group, Schott AG, WestRock Company, Owens Illinois, Inc., Comar, LLC, Berry Global, Inc., SGD Pharma, International Paper, CCL Industries, Inc., Vetter Pharma International among others.

Segmentation Analysis

The primary segment is expected to be the fastest-growing segment in 2021. 

The product segment is primary, secondary, and tertiary. The primary segment is expected to witness the highest growth rate during the forecast period. Primary packaging includes bottles, tubes, blister packs, and envelopes to protect the medicine from contamination. It also typically handles medicine ingredient dose and delivery. Packaging firms are focusing on easy-to-open closures and introducing dispensing technologies that provide the proper dose at the right time to assist the aged population with medicine dosing.

The plastics & polymers segment is expected to be the fastest-growing segment in 2021. 

The material segment includes plastics & polymers, glass, paper & paperboard, aluminium foil, and others. The plastics & polymers segment is expected to witness the highest growth rate during the forecast period. Pharmaceutical vials, bottles, closures, syringes, pouches, sachets, cartridges, tubes, and blister packs are typically manufactured from plastic resins such as PE, PET, PP, PVC, PS, and bioplastic. In 2021, polypropylene (PP), which combines beneficial attributes such as mechanical, physical, electrical, and thermal properties, had the highest revenue share in the plastic and polymers material market.

The pharma manufacturing segment is expected to be the fastest-growing segment in 2021. 

The end-user segment includes pharma manufacturing, contract packaging, institutional pharmacy, and retail pharmacy. The pharma manufacturing segment is expected to witness the highest growth rate during the forecast period. The cause for this is the increased demand for pharmaceuticals. According to the World Health Organization (WHO), the number of individuals over 60 in the world’s population will nearly double between 2015 and 2050, rising from 12% to 22%. The ageing population necessitates more medical care, which benefits the pharmaceutical sector. This will almost certainly raise demand for pharmaceutical packaging.

Regional Analysis

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the pharmaceutical packaging include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.

  • The North America region witnessed a major share. Pharmaceutical manufacturing, which includes internal production, was the region’s biggest end-user sector in 2021. The 21st Century Cures Act (Cures Act) was signed into law in the United States on December 13, 2016, to accelerate the development of medical products. The law is expected to drive pharmaceutical product improvements, which will boost North American demand for pharmaceutical packaging.

Country Analysis

  • Germany

Germany’s pharmaceutical packaging market size was valued at USD 6 billion in 2021 and is expected to reach USD 11.10 billion by 2029, at a CAGR of 8% from 2022 to 2029. Every year in Europe, 3,000 children under the age of 14 die as a result of acute poisoning caused by access to pharmaceutical products, according to the European Child Safety Alliance. As a result, pharmaceutical packaging producers in Germany are being compelled to focus on creating childproof, child-safe packaging, which increases demand in the region.

  • China

China’s pharmaceutical packaging market size was valued at USD 9 billion in 2021 and is
expected to reach USD 19.54 billion by 2029, at a CAGR of 9% from 2022 to 2029. The Chinese pharmaceutical sector has been rapidly developing in recent years. The majority of APIs, which are raw materials utilized in pharmaceutical products, are produced in China. The major pharmaceutical ingredient manufacturers are in charge of breaking into new markets. For China’s pharmaceutical industry the market also considers low production costs to be an advantage, as they save money on manufacturing expenses.

  • India

India’s pharmaceutical packaging market size was valued at USD 7.6 billion in 2021 and is expected to reach USD 14.70 billion by 2029, at a CAGR of 8.6% from 2022 to 2029. According to the India Brand Equity Foundation (IBEF), India is the world’s top provider of generic pharmaceuticals. India exported drugs worth more than $20.14 billion until January 2021. Furthermore, the pharmaceutical business in India is expected to be worth approximately US$ 130 billion in 2020. The government makes major investments in the healthcare business. In 2020, the government will spend over $46 billion on healthcare. This indicates the expansion of the Indian pharmaceutical industry, which will raise demand for the pharmaceutical packaging industry.
Covid-19 Impact

Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the rising population of diseases.

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GreyViews
Pune India
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