According to Future Market Insights, the global pharmaceutical packaging market is expected to witness significant growth in the coming years. This growth is primarily attributed to the projected increase in pharmaceutical sales, driven by factors such as the rising prevalence of diseases and growing health awareness among individuals.
A notable trend in the industry is the focus on developing sustainable and environmentally friendly pharmaceutical packaging solutions. This aligns with the increasing emphasis on sustainability and eco-consciousness across various sectors.
Efficient and secure packaging is a critical concern for pharmaceutical manufacturers and end users. The integrity of drugs relies on reliable packaging options that can prevent flaws in materials or technology, as any deficiencies can have serious consequences.
Packaging plays a vital role in protecting medications from deterioration, spillage, and contamination, thereby extending their shelf life. Primary packaging options, including bottles, vials, ampoules, blisters, as well as secondary packaging such as boxes and cartons, are utilized for pharmaceutical products.
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The demand for child-resistant packaging formats has also witnessed significant growth. This is driven by the need to prevent accidental ingestion of excessive medication by children in the absence of their parents.
With the continuous growth of pharmaceutical manufacturing and consumption globally, the sales of pharmaceutical packaging are expected to rise. Future Market Insights anticipates ample opportunities for pharmaceutical packaging manufacturers throughout the forecast period, driven by increased global spending on pharmaceutical products.
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.
“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.
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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.
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.
Regional Analysis:
The USA is expected to retain its dominance over the global pharmaceutical packaging industry during the assessment period owing to the expanding pharmaceutical sector and increasing spending on medicines.
Currently, the USA holds a massive share of 94.1% of North America pharmaceutical packaging market, and this figure is expected to reach 95.1% by the end of 2033.
According to the National Library of Medicine, the total pharmaceutical spending in the USA reached US$ 576.9 billion in 2021, up 7.7% from 2020. The utilization of drugs has increased by 4.8% and development of new drugs increased by 1.1%.
The spending on drugs in 2022 in the United States has risen by 4% to 6% as compared to 2021. This expansion of pharmaceutical industry in the country along with development of new drugs and increasing spending will continue to propel pharmaceutical demand during the assessment period.
Similarly, heavy presence of key pharmaceutical packaging companies in the USA such as Amcor plc, Mondi Group, Sealed Air Corporation, Westrock Company, etc. is positively influencing the USA pharmaceutical packaging market.
The USA is the advanced drug-producing country that commercializes new sophisticated therapies with specialized packaging needs. The country annually spends billions of dollars on research and development to introduce novel effective drugs.
Hence, rising development of new drugs will bolster the demand for innovative and protective pharmaceutical packaging solutions across the USA during the assessment period.
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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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