The increasing prevalence of diseases, growing health awareness, and the focus on sustainability are indeed significant drivers of the pharmaceutical packaging market.
The development of sustainable and environmentally friendly packaging solutions is a key trend across various industries, including pharmaceuticals. As companies and consumers become more conscious of their environmental impact, there is a growing demand for packaging materials and designs that minimize waste and are recyclable or biodegradable.
The importance of reliable and secure packaging in the pharmaceutical industry cannot be overstated. Ensuring the integrity of drugs is crucial to maintaining their safety and efficacy. Packaging serves as a barrier against external factors that can compromise the quality of medications, such as moisture, light, and contamination. By choosing appropriate packaging materials and technologies, pharmaceutical manufacturers can extend the shelf life of their products and ensure their efficacy throughout the distribution chain.
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The demand for child-resistant packaging formats is also on the rise, driven by the need to prevent accidental ingestion of medication by children. Child-resistant packaging helps to minimize the risk of unintended consumption when caregivers are not present, enhancing the safety of pharmaceutical products in households.
Considering the overall growth in pharmaceutical manufacturing and consumption globally, it is reasonable to expect an increase in the demand for pharmaceutical packaging. As healthcare spending continues to rise and new drugs enter the market, pharmaceutical packaging manufacturers are likely to find ample opportunities for growth and innovation.
However, it’s important to conduct further research and consult industry experts to obtain the most accurate and up-to-date information on market trends and projections. Market conditions can change rapidly, and relying on the latest reports and insights from trusted sources is essential for making informed decisions.
Key Takeaways from Pharmaceutical Packaging Market
- By product type, the bottles segment is forecast to hold more than 31.3% of the value share by the end of 2033.
- Based on material type, plastics segment is projected to increase at a CAGR of 7.6% during the forecast period, creating an incremental opportunity of US$ 67.4 billion by the end of 2033.
- North America pharmaceutical packaging market is expected to expand by 2.1x of its current market value through 2033.
- With rising consumption of pharmaceutical products as well as expansion of the pharmaceutical sector, Asia Pacific Excluding Japan (APEJ) market is anticipated to expand by 2.6x of current market value by 2033.
- The USA is forecast to account for around 95.1% share of North America pharmaceutical packaging industry by the end of 2033.
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“Growing need for protecting medicinal products from physical, biological, and chemical factors as well as to maintain their integrity is expected to generate lucrative prospects for the global pharmaceutical packaging market during the forecast period. Besides this, development of sustainable pharmaceutical packaging will bode well for the market,” says an FMI analyst.
Rise in Per Capita Healthcare Expenditure to Facilitate Pharmaceutical Packaging Market Expansion
Considering the current scenario as well as the rising awareness about healthcare, investment in the healthcare sector is rising. Consumers are worried about the future as well as their current life which makes them think to invest in the healthcare sector.
Healthcare investment has a positive and direct correlation with the pharmaceutical industry. The pharmaceutical industry accounts for a sizable portion of the investments attracted for the expansion of the country’s economy.
As a result of consumers’ rising concern for their quality of life, there is an increase in the per capita cost of healthcare. The market for pharmaceutical packaging is expected to be positively impacted by rising healthcare spending across the world.
New Biological Drug Formulations Set to Improve Pharmaceutical Packaging Market
Novel biological drug medications are creating various complex challenges for the manufacturers of pharmaceutical packaging. The new pharmaceutical medications require innovative packaging concerning their molecule formulations and their interaction with packaging material. This is prompting manufacturers to develop new packaging formats which suit the new biological drug medications.
The glass vial is a case of a packaging format that is experiencing changes that reflect the market demand. Some novel biologics have properties that delaminate glass, prompting undesirable glass chipping in formulations.
Pharmaceutical packaging companies are currently taking a gander at how vials are framed in the heating procedure so that chipping can be alleviated. Hence, development of new biological drug formulations will trigger innovation in pharmaceutical packaging formats which will eventually boost the overall market.
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Key Players:
- Amcor Plc
- Ardagh Group S.A.
- Becton, Dickinson and Company
- Berry Global Group, Inc.
- Bilcare Limited
- Catalent, Inc.
- Clondalkin Group Holdings B.V.
Pharmaceutical Packaging Industry by Category
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
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