USD 128.80 billion
Report ID: SQMIG15H2014 | Region: Global | Published Date: July, 2030 | Pages: 184 | Tables: 65 | Figures: 77
Global Pharmaceutical Packaging Market size was valued at USD 128.80 billion in 2022 and is poised to grow from USD 141.55 billion in 2023 to USD 301.23 billion by 2031, at a CAGR of 9.9% during the forecast period (2024-2031).
The Global Pharmaceutical Packaging Market is a dynamic and essential sector within the broader healthcare and pharmaceutical industry. This market encompasses the design, manufacturing, and distribution of packaging materials and solutions specifically tailored to meet the unique needs of pharmaceutical products. These products range from over-the-counter drugs and prescription medications to vaccines and biologics. Key factors driving this market include the growing global population, an aging demographic that requires more healthcare interventions, and increased demand for pharmaceutical products. Pharmaceutical packaging plays a crucial role in ensuring these products' safety, efficacy, and quality, safeguarding them from external factors like light, moisture, and contamination. In recent years, there has been a noticeable shift toward eco-friendly and sustainable packaging solutions, driven by environmental concerns and regulatory pressures. Additionally, advancements in packaging technologies, such as intelligent packaging and serialization, are enhancing the security and traceability of pharmaceutical products.
The global pharmaceutical packaging market is highly competitive, with numerous players ranging from packaging materials suppliers to packaging machinery manufacturers. Geographically, North America and Europe are significant markets due to their well-established pharmaceutical industries and stringent regulations. However, the Asia-Pacific region is gaining prominence, thanks to its expanding healthcare sector and increasing pharmaceutical manufacturing capabilities. As the pharmaceutical industry continues to evolve, the demand for innovative, compliant, and sustainable packaging solutions is expected to grow, making the global pharmaceutical packaging market an integral component of healthcare supply chains worldwide.
Global Market Size
USD 128.80 billion
Largest Segment
Primary
Fastest Growth
Primary
Growth Rate
9.9% CAGR
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Global Pharmaceutical Packaging Market is segmented on the basis of product, material, end use and region. By product, the market is segmented into primary, secondary, tertiary. By material, market is segmented into plastics & polymers, paper & paperboard, glass, aluminium foil, others. By end use, the market is segmented into pharma manufacturing, contract packaging, retail pharmacy, institutional pharmacy. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Pharmaceutical Packaging Market Analysis by End Use
The important end-use sector of pharmaceutical manufacturing, which held the largest share of 49.9% in 2022, is anticipated to have rapid expansion from 2023 to 2030. This is due to the rising demand for medications. The percentage of people over 60 in the world will increase from 12% to 22% between 2015 and 2050, according to the World Health Organization (WHO). The ageing population demands more medical attention, which supports the industry that makes pharmaceuticals. This will probably increase the need for pharmaceutical packaging.
To set themselves apart from competitors, retail pharmacies are increasingly putting branding strategies onto their packaging. The packaging materials that these retail pharmacies most frequently use are polybags and paper pouches. The end-use retail pharmacy industry is anticipated to grow as retail becomes more widely adopted, particularly in developing nations.
Pharmaceutical Packaging Market Analysis by Product
In 2022, the primary sector accounted for a large portion of the market. Primary packaging, such as bottles, tubes, or blister packs, directly touches the medication and envelops it, shielding it from contamination. Additionally, it frequently administers and doses drug components. Companies that make packaging are concentrating on employing closures that are simple to open and including dispensing systems that provide the proper dose at the right time, which can help the senior population with drug dosage.
Continually enveloping or enclosing a number of groups of pharmaceutical packages, secondary pharmaceutical packaging stores the packages together and shields them from outside danger. In addition to logistics, where bundling numerous products together makes handling them easier, secondary packaging is largely used for branding and display, which is crucial to the product's marketing strategy.
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With a revenue share of 35.9% in 2022, North America dominated the market. The region's largest end-use sector was pharmaceutical manufacturing, which includes in-house production. Over the course of the forecast period, the presence of numerous producers of pharmaceutical plastic bottles in the nation, including AptarGroup, Gerresheimer AG, Amcor, and Berry Plastics Group, is probably going to have a positive effect on demand.
Between 2023 and 2030, Asia Pacific is anticipated to have the fastest CAGR, at over 12%. Along with rising disposable income levels, increasing health awareness among consumers in the Asia Pacific region, particularly in developing nations like China and India, is anticipated to fuel the growth of the pharmaceutical industry over the forecast period and increase demand for its packaging. Due to rising government efforts, such as Healthy China 2022, expanding contract manufacturing operations, and a rapidly aging population, China dominated the Asia Pacific area market in 2022 and will continue to hold the top spot during the next few years.
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Pharmaceutical Packaging Market Drivers
Increasing Focus on Sustainability to Bolster market growth
Pharmaceutical Packaging Market Restraints
Counterfeit Drugs to Hinder market growth
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To draw in more customers, players are concentrating on providing value-added services. The most popular techniques used by packaging makers to colour packing containers include spray painting, UV coating, and metallization. Additionally, packaging manufacturers frequently undertake labelling and the incorporation of various anti-counterfeit packaging measures, including overt and covert technologies, like barcodes, holograms, sealing tapes, and radio frequency identification devices.
Pharmaceutical Packaging Market Top Player’s Company Profiles
Pharmaceutical Packaging Market Recent Developments
A Memorandum of Understanding (MOU) was announced in November 2023 between Amcor Plc, a well-known international business recognized for its creation and manufacturing of ecologically friendly packaging solutions, and NOVA Chemicals Corporate, a top manufacturer of sustainable polyethylene. Under the terms of the agreement, NOVA Chemicals Corporate will supply mechanically recycled polyethylene resin (rPE), which will be used to make flexible packaging films. By utilizing more rPE in flexible packaging applications, this project is in line with Amcor's commitment to fostering packaging circularity.
Constantia Flexibles unveiled REGULA CIRC, a novel coldform foil-based pharmaceutical packaging solution, in July 2023. The package substitutes a PE sealing layer for traditional PVC, which lowers the amount of plastic and increases the amount of aluminum. This modification boosts material recovery during recycling procedures in addition to improving the packaging's sustainability.
Südpack debuted its PharmaGuard blister, a polypropylene-based blister packaging, in April 2023. In addition to providing an excellent water vapor barrier, this novel substance effectively blocks oxygen and UV rays.
The well-known worldwide leader in packaging solutions, Amcor plc, purchased MDK, a well-known Shanghai-based business with a focus on medical device packaging, in January 2023. Amcor's strengths are strengthened by this calculated acquisition, solidifying its market position.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global pharmaceutical packaging market is a rapidly growing market driven by the increasing demand for healthcare products and the growth of the pharmaceutical industry. The market is expected to continue its growth trajectory in the coming years, driven by factors such as the increasing demand for biologics and personalized medicine, as well as the need for innovative packaging solutions that address drug counterfeiting and other supply chain challenges. The market is also driven by the increasing focus on sustainability, with manufacturers increasingly using eco-friendly packaging materials and adopting sustainable practices. The increasing adoption of e-commerce and the growth of the online pharmacy sector are also expected to drive demand for pharmaceutical packaging solutions in the coming years.
Report Metric | Details |
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Market size value in 2022 | USD 128.80 billion |
Market size value in 2031 | USD 301.23 billion |
Growth Rate | 9.9% |
Base year | 2022 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Pharmaceutical Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Pharmaceutical Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Pharmaceutical Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Pharmaceutical Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Product ID: SQMIG15H2014