Pharmaceutical Packaging Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Raw Material (Plastics & Polymers, Paper & Paperboard, Glass, Aluminum Foil, Others), By Product Type (Bottles, Caps & Closures, Blister Packs, Pre-fillable Inhalers, Pouches & Sachets, Others), By Drug Delivery Mode (Oral Drugs, Pulmonary, Transdermal, Injectables, Topical, Nasa
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPharmaceutical Packaging Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Raw Material (Plastics & Polymers, Paper & Paperboard, Glass, Aluminum Foil, Others), By Product Type (Bottles, Caps & Closures, Blister Packs, Pre-fillable Inhalers, Pouches & Sachets, Others), By Drug Delivery Mode (Oral Drugs, Pulmonary, Transdermal, Injectables, Topical, Nasa
In 2020, the number of employees in the pharmaceutical industry in Spain are around 50.9 thousand people
For instance, in 2020, the retail pharmaceutical industry in Brazil reached a sales value of USD 14 billion.
Rising Demand from Pharmaceutical Industry
Pharmaceutical packaging is a crucial area of the packaging industry as it is necessary to protect, preserve, and store various pharmaceuticals items, including pharmaceuticals, prescriptions, and others. The pharmaceutical sector is expanding quickly, mostly in developed and developing nations. The population is growing, technological advancements are increasing, healthcare awareness is increasing, advanced manufacturing techniques are being adopted, public healthcare spending is increasing, and new government regulations are being put in place to stop the spread of infectious diseases. Moreover, it is anticipated that the pharmaceutical business will expand because of increased demand for biological goods and cutting-edge medicines including cell and gene therapies. The increased prevalence of chronic diseases brought on by altered dietary patterns, lifestyles and sleep cycles result in the huge demand for pharmaceuticals, further increasing the demand of pharmaceutical packaging materials.
For instance, in 2021 according to the European Federation of Pharmaceutical Industries and Association, North America accounted for 49.1% of global pharmaceutical revenues, whereas Europe accounted for 23.4%.
Furthermore, according to IQVIA, the new medicines launched on the market having sale in US around 64.4% while the sale in Europe was 16.8%.
Increasing number of drugs approval by the regulatory bodies further increase the demand of packaging material by manufacturers industry due to production of drugs. Moreover rising acquisitions and mergers in the pharmaceuticals industry as well as introduction of new technology with efficient and cost-effective production methods along with this growing valuable investment is contributing to the growth of market.
In addition, many pharmaceutical companies have expanded outsourcing packaging-related tasks to save costs and save time. To ensure effectiveness, firms are outsourcing packaging activities to specialize highly competent contractors rather than investing in packaging items. It is anticipated that this would increase the demand of contract manufacturing. Pharmaceutical companies use Child-resistant packaging or CR packaging to reduce the risk of children ingesting hazardous materials. In developed nation it is compulsory to use child resistant packaging for medicines such as paracetamol, aspirin, iron tablets, etc.
For instance, Honeywell India Technology Center (HITC), a global packaging laboratory in Gurgaon, Haryana (India) develops novel technologies for pharma packaging that aid its regional partners with required technical support.
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The development of the pharmaceutical business has benefitted from the efforts of several nations. The industry oversees developing, producing, and selling medicines all over the world. Around more than one trillion dollars revenue is thought to be generated by the pharmaceutical sector in 2019. Reputable companies like Pfizer, GlaxoSmithKline (GSK), Novartis, have been aggressively spending substantial sums of money for the creation of new and improved medications which further increases the demand for packaging material that provides safety and protection to the medicines.
For instance, in 2023 Serum Institute of India launches the first made-in-India qHPV vaccine CERVAVAC.
Furthermore, according to the International Federation of Pharmaceutical Manufacturers & Association the research divisions of the pharmaceutical industry devote over USD 149.8 billion annually.
Additionally, nanotechnology has a big impact on pharmaceutical packaging since it introduces innovative packaging solutions which encourage the growth of the market. With improvement in the properties of plastics and advancement of nanotechnology's functionality support the growth of the pharmaceutical packaging business. Additionally, by shrinking the size of different medication molecules, nanotechnology-enabled drug delivery has opened profitable potential in the pharmaceutical industry and improved bioavailability, solubility, and drug toxicity. These applications have expanded beyond medication delivery to include the creation of important drug and medical device formulations with controlled release, which is driving up demand in the industry. Thus, nano-enabled drug delivery help drugs to permeate through cell walls, which is important for the growth in demand for genetic medicines.
For instance in 2023, Cedars-Sinai Cancer researchers have developed a new nanotechnology-based test that can detect and profile prostate cancers even in microscopic amounts.
Therefore, all these factors dominate the growth of the market in the forecast period.
Plastics & Polymers will be the Key Raw Material
The most significant raw material utilised in the creation of pharmaceutical product packaging is plastic. Polyvinyl chloride, polystyrene, polypropylene, and polyethylene are few plastic resins that are used for pharmaceutical packaging. As plastics are durable, lightweight, and transparent, they are used for selling and storage of packed products across the industry. Most of their applications are in primary and secondary packaging.
As the black market for counterfeit goods expands, pharmaceutical businesses increasingly rely on packaging and labelling as a form of advertising to promote, protect, and comply with their products. Plastic packaging is becoming more and more common due to properties like resistance to moisture, high impact strength, high dimensional stability, transparency, resistance to strain, heat and flame resistance, low water absorption, etc.
For instance, in September 2022, the Union health ministry of India made quick response (QR) codes mandatory on the packaging of 300 life-saving drugs.
Additionally, Glass packaging is also preferred by pharmaceutical industry as it limits the hydrolytic and alkalinity resistance of the glass container. Glass containers are safe, convenient and have applicability for both solid and liquid oral medication. Due to their great transparency, which makes it simple to monitor the contents, protection, and chemical resistance for pharmaceutical items, glass packaging offers relative air and moisture impermeability. Amber-colored glass is majorly preferred for pharmaceutical packaging as it absorbs the harmful UV radiations and protects the medicines from getting damaged.
For instance, in 2021, Schott finished an expansion of its pharmaceutical glass tubing site in Jinyun, China.
Thus, increasing demand for these materials from various applications anticipate the growth of Global Pharmaceutical Packaging Market in the upcoming years.
The rising use of generic medications in developing nations will increase demand for pharmaceutical packaging because of its low cost. A pharmaceutical medicine is generic if it contains the same chemical components, intended purpose,
For instance, Accord Healthcare, Inc., a leading generic pharmaceutical company, produced Lurasidone HCL tablets.
However, counterfeit pharmaceutical drugs are fake medicines with similar composition name but they don’t have active ingredients and are easily contaminated and harm health. Due to third shift packaging, which offers earnings by making hidden pharmaceuticals and selling to counterfeiters, the rise in counterfeit pharmaceutical drugs is preventing the market from growing. Additionally, strict government rules and policies regarding the packaging material can slow down market growth.
Recent Developments
- In February 2023, Gerresheimer and Corning announce a joint venture
to fulfill the increasing demand for Velocity Vials, speeding up the delivery
of lifesaving treatments.
- West Pharmaceutical Services, Inc. introduced three new products at
Pharmapack Europe in Paris in January 2023.
- To scale its pharmaceutical division in Central and Eastern Europe,
ALPLA, purchased the Polish company APON in July 2022.
- In April 2022, Amcor declared the expansion of their pharmaceutical packaging line with the latest and Sustainable High Shield Laminates.
Market Segmentation
Global Pharmaceutical Packaging Market
Company Profiles
Amcor plc, AptarGroup, Inc., Schott AG, West Pharmaceutical Services, Inc., SGD S.A., Nipro Europe Group Companies, Gerresheimer AG, Berry Global Inc., WestRock Company, Drug Plastics Closures Inc. are some of the key players of Global Pharmaceutical Packaging Market.
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 –
2021 |
|
Estimated Year |
2023 |
|
Forecast
Period |
2024
– 2028 |
|
Quantitative
Units |
Revenue
in USD Million, and CAGR for 2018-2022 and 2023-2028 |
|
Report
coverage |
Revenue
forecast, company share, competitive landscape, growth factors, and trends |
|
Segments
covered |
Raw
Material Product
Type Drug
Delivery Mode Application
|
|
Regional scope |
North
America, Europe, Asia Pacific, South America, Middle East & Africa |
|
Country scope |
United
States, Mexico, Canada, France, Germany, United Kingdom, Spain, Italy, China,
India, South Korea, Japan, Australia, Brazil, Argentina, South Africa, Saudi
Arabia, UAE |
|
Key companies
profiled |
Amcor
plc, AptarGroup, Inc., Schott AG, West Pharmaceutical Services, Inc., SGD
S.A., Nipro Europe Group Companies, Gerresheimer AG, Berry Global Inc.,
WestRock Company, Drug Plastics Closures Inc. |
|
Customization
scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing and
purchase options |
Avail
customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery
Format |
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word format
on special request) |
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