Pharmaceutical Packaging Market to Cross $238.89 Billion by 2030
Pharmaceutical packaging is the packaging procedure for pharmaceutical preparations. Packaging is an essential part of a pharmaceutical product. The process involves dispensing, dosing, and labeling containers and bottles, made of glass in the pharmaceutical sector. It is used to provide protection, identification, and ensure the integrity of the enclosed drug product. Primary, secondary, and tertiary care are the key types of packaging for a pharmaceutical product. In Primary drug packaging, material shield the pharmaceutical product, while secondary and tertiary packaging provides additional external protection.
One of the most important purposes of packaging is to prevent products from the damaging effects of the external environment, such as air, moisture, or light. Protection from these factors is important to ensure the product’s effectiveness and safety. The global pharmaceutical packaging market is expected to witness significant growth during the forecast period due to the rise in the pharmaceutical industry in several emerging nations.
According to the research report published by Polaris Market Research, the Global Pharmaceutical Packaging Market Size Is Expected To Reach USD 238.89 Billion By 2030, at a CAGR of 9.9% during the forecast period.
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Pharmaceutical Packaging Market: Driving Factors
Increasing penetration of retail pharmacies in developing regions and a growing focus on brand enhancement and product differentiation by pharmaceutical firms are expected to boost the growth of the pharmaceutical packaging market. The growth is also driven by developments in manufacturing processes for sustainable and environmentally friendly packaging solutions and product innovations. The increasing population, higher life expectancy rate, increasing health consciousness, and the growing consumer awareness about a good healthcare system are some of the key factors anticipated to fuel the growth of the market over the forecast period. In addition, the growing prevalence of chronic diseases, changes in sleep cycles, and rising R&D activities are expected to accelerate the market growth during the projected time period.
Pharmaceutical Packaging Market: Segmentation
Insights by Material
Based on material, the market is segmented into plastics & polymers, paper & paperboard, glass, aluminum foil, and others. The plastic & polymers market segment is anticipated to hold the largest market share during the forecast period due to the increase in demand for plastics across the pharma industry as it offers a cost-effective and reliable type of packing for medical products.
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Insight by Product
Based on product type, the market is categorized into primary, secondary, and tertiary packaging. The primary segment held the largest market share in the global pharmaceutical packaging market in 2021 and is expected to continue its dominance during the foreseen period. In primary packing, the safety of drugs and medicines is ensured during storage, sale, and use, and thus it produces great significance in the pharmaceutical industry.
Secondary packaging is expected to account for a lucrative share over the forecast period. Secondary packing covers the pharmaceutical products in a second layer to protect them from external damage and gives labels containing informative information such as the presence of active and inactive ingredients, type of medicines, warning precautions, and many others.
Geographic Overview: Pharmaceutical Packaging Market
Based on geography, North America held the largest market share in 2021 and is anticipated to continue its dominance over the projected period. The factors contributing to the market growth include a large pharma manufacturing base and the increased investment in technological developments for sustainable packing. The U.S. has one of the world’s largest single pharmaceutical markets.
The Asia Pacific is anticipated to generate a significant share during the forecast period owing to the increasing health awareness, rising governing norms, and increasing focus on disposable income levels, especially across developing countries, including China and India. These factors are likely to enhance the demand for pharmaceutical packaging.
Some of the major players operating in the global market include Amcor Plc, Aptargroup, Inc., Becton, Dickinson and Company, Berry Global Inc., Catalent, Inc., CCL Industries, Inc., Comar, LLC, Drug Plastics Group, Gerresheimer AG, International Paper, Nipro Corporation, Owens Illinois Inc., Schott AG, Silgan Holdings Inc., Stevanato Group, Vetter Pharma International, West Pharmaceutical Services, Inc., and Westrock Company.
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- In May 2021, Gerresheimer launched new platform for on body infusion pump “SensAIR,” which can an administer drugs of higher viscosity. It implies the precise and safe infusion of drugs.
- In February 2020, Berry Global introduced new oval tube, extruded, formed and decorated at facility in United States. This is one of the only domestically assembled oval tubes on the market today.
Pharmaceutical Packaging Market: By Material Outlook
- Plastics & Polymers
- Polyvinyl Chloride
- Paper & Paperboard
- Aluminum Foil
Pharmaceutical Packaging Market: By Product Outlook
- Plastic Bottles
- Caps & Closures
- Parenteral Containers
- Blister Packs
- Prefillable Inhalers
- Medication Tubes
- Prescription Containers
- Pharmaceutical Packaging Accessories
Pharmaceutical Packaging Market: By End-Use Outlook
- Pharma Manufacturing
- Contract Packaging
- Retail Pharmacy
- Institutional Pharmacy
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