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2021
Pharmaceutical Packaging Market

Pharmaceutical Packaging Market

by Product Type (Parenteral Containers, Plastic Bottles, Blister Packaging, Closures, Specialty Bags, Labels, and Others), Material (Glass, Aluminum Foils, Plastics and Polymers, Paper & Paperboards, and Others): Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A01501
Pages: 235
Jan 2021 | 46675 Views
Author(s) : Sumitra Choudhary, Sayali Shinde , Onkar Sumant
Tables: 133
Charts: 68
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COVID-19

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Pharmaceutical Packaging Market Overview:

The global pharmaceutical packaging market size accounted for $ 88,880 million in 2019, and is expected to reach $ 144,233 million by 2027, registering a CAGR of 6.1% from 2020 to 2027. Packaging is an integral part of pharmaceutical product. Packaging is often involved in dispensing, dosing, and use of the pharmaceutical product. Communication of proper use and cautionary labels are also regulated. There are several different types of packaging for a pharmaceutical product, which are classified as primary, secondary, and tertiary. Primary drug packaging is the material that surrounds the pharmaceutical product, while secondary and tertiary packaging provide additional external protection. One of the most important functions of packaging is to shield products from the damaging effects of the external environment. Many formulations become unstable when exposed to air, moisture, or light, and therefore protection from these factors is necessary to ensure medicines remain effective and safe.

The market is expected to witness a significant growth during the forecast period. The growth can be attributed to advanced manufacturing processes to develop sustainable and eco-friendly packaging solutions and product innovations, increase in product innovations and merger & acquisition to support new demands. In addition, serialized tracking and & tracing of drugs, emerging generic drug market, rapidly growing drug delivery market, and increase in R&D and use of innovative packaging drive the pharmaceutical packaging market growth.

pharmaceutical-Packaging-Market-2020-2027

In addition, factors such as advanced manufacturing processes to develop sustainable and eco-friendly packaging solutions, increase in product innovations and merger & acquisition to support new demands. In addition, serialized tracking & tracing of drugs, emerging generic drug market, rapidly growing drug delivery market, increase in R&D activities and use of innovative packaging drive the growth of the pharmaceutical packaging market.

However, price volatility of raw materials, stringent government regulations and standard can also restrain growth of the pharmaceutical packaging market. On the contrary, advancement in the biotechnology sector results in the introduction of new parenteral therapies, increase in demand for innovative packaging products, and growing use of the smart packaging for patient engagement & identification. In addition, increase in patient-oriented medicines including biologics is expected to uplift the market growth of the pharmaceutical packaging market during the forecast period.

Furthermore, pandemic crisis results in lack of workforce, transportation restrictions, and shortage in raw materials and implementation of lockdown across the globe, which hamper the supply of products. Moreover, after vaccine approval, if these vaccines rely on different administration routes (e.g., inhaled, oral, transdermal, and injectable), then demand for primary packaging can be extended across multiple packaging formats. Therefore, COVID-19 is expected to propel the growth of pharmaceutical packaging during the forecast period.

Global Pharmaceutical Packaging Market Segmentation  

The global pharmaceutical packaging market is segmented on the basis of product and region. By product, it is divided into parenteral containers, plastic bottles, blister packaging, closures, specialty bags, labels, and others. . Based on material the market is divided into glass, aluminum foils, plastics and polymers, paper & paperboards, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segment review

On the basis of product type, the plastic bottles segment is accounted to dominate the market share in 2019. As plastic bottles have always been the preferred mode of packaging tablets and capsules. Wide usage of plastic bottle for packaging liquid dosages, like syrups, nasal, and ophthalmic medications. The advantage of a plastic bottle is that pharmaceutical manufacturers can place more tablets in bottles more efficiently and cost-effectively. Further, the parenteral containers segment is expected to propel the market growth as plastic is slowly being eliminated from the parenteral packaging ecosystem. Companies are shifting toward prefilled and ready-to-use containers and this is expected to augment the usability of parenteral products in self-medication. 

Pharmaceutical Packaging Market
By Product Type

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Plastic Bottle segment holds a dominant position in 2019.

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In 2019, North America is accounted for the largest share, owing to high purchasing power, coupled with rise in adoption rate of smart and advanced packages. Further, U.S. accounted for generating largest share, and is expected to continue the trend during the forecast period. As U.S. is the advanced drug-producing sector that commercializes new sophisticated therapies with specialized packaging needs. On the other hand, the market in Asia-Pacific is expected to register the highest CAGR in terms of revenue during the forecast period pertaining to growth in the purchasing power of populated countries such as China, Japan, and India. Further, requirements for brand enhancement and differentiation, new packaging material development, increase in awareness of environmental issues, and the adoption of new regulatory requirements on recycling packages are projected to boost growth of the Asia-Pacific pharmaceutical packaging market.

The global pharmaceutical packaging market is highly competitive, and prominent players have adopted various strategies to garner maximum market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Amcor Ltd, Aptar Group, Inc., Catalent Inc., CCL Industries Inc., Becton, Dickinson and Company, Gerresheimer AG, West Pharmaceutical Services, Inc., Nipro Corporation, Berry Global Group, Inc., and SCHOTT Pharmaceutical Packaging.

Pharmaceutical Packaging Market
By Region

2027
North America 
Europe
Asia-pacifc
Lamea

Asia-Pacific is projected as one of the most lucrative segment.

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Key Benefits For Stakeholders

  • This report entails a detailed quantitative analysis of the current market trends from 2019 to 2027 to identify the prevailing opportunities.
  • Pharmaceutical packaging market size and market estimations are based on comprehensive analysis of the key developments in the industry.
  • In-depth analysis based on region assists to understand the regional market and the strategic business planning.
  • The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.

Pharmaceutical Packaging Market Report Highlights

Aspects Details
By Product
  • Plastic Bottle
  • Parenteral Container
  • Blister packing
  • Specialty Bags
  • Closures
  • Labels
  • Others
Material type:
  • Glass
  • Aluminum Foils
  • Plastics and Polymers
  • Paper & Paperboards
  • Others
By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • South Africa
    • Saudi Arabia
    • Rest of LAMEA
 

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According to the CXO perspective, the pharmaceutical packaging market are growing, owing to increase in demand for smart packaging options and other innovative packaging products. In addition, increase in chronic diseases has led to new vaccine approvals that needs pharmaceutical packaging which is expected to account for major revenue generation during the forecast period. 

The plastic bottle segment is estimated to be the largest growing segment during the forecast period. This is mainly attributed to its wide usage due to its benefits and application such as strength, light weight, reasonable inertness, and chemical resistance, and can be made from various polymers for various applications.  

Various advancements and R&D innovations are expected to boost the growth of the market. Numerous players are stepping in the pharmaceutical packaging market with innovative products due to contract packaging. The untapped regions such as China and India are expected to emerge as lucrative markets, owing to growth in demand and awareness of patient monitoring devices. The growth of pharmaceutical packaging market is anticipated to largely be contributed by rise in incidences of lifestyle diseases and increase in the geriatric population. 

North America is expected to dominate the pharmaceutical packaging market, owing to high purchasing power coupled with rise in adoption rate. Further, U.S. has accounted for generating largest share, and is expected to continue the trend during the forecast period. However, Asia-Pacific is the fastest growing segment for the pharmaceutical packaging market. It is the most lucrative market, owing to presence of large untapped opportunities in this region. Further, requirements for brand enhancement and differentiation, new packaging material development, increase in awareness of environmental issues, and the adoption of new regulatory requirements on recycling packages are projected to boost growth of the Asia-Pacific pharmaceutical packaging market.


 

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FREQUENTLY ASKED QUESTIONS?

A. parenteral container segment is the most influencing segment This is attributed due to plastic is slowly being eliminated from the parenteral packaging ecosystem. Companies are shifting towards prefilled and ready-to-use containers and this is expected to augment the usability of parenteral products in self-medication

A. The major factor that fuels the growth of the global pharmaceutical packaging market includesadvanced manufacturing processes to develop sustainable and eco-friendly packaging solutions, increase in product innovations and merger & acquisition to support new demands. In addition, serialized tracking & tracing of drugs, emerging generic drug market, rapidly growing drug delivery market, increase in R&D activities and use of innovative packaging is further driving the growth of the pharmaceutical packaging market.

A. Asia-Pacific has the highest growth rate in the market which is growing with a CAGR of 7.9% aspurchasing power of populated countries such as China, Japan, and India. Further, requirements for brand enhancement and differentiation, new packaging material development, increasing awareness of environmental issues, and the adoption of new regulatory requirements on recycling packages are projected to boost growth of the Asia-Pacific pharmaceutical packaging market

A. Top companies such as, Berry Global Group, Inc., Gerresheimer AG, Amcor Ltd, and Aptar Group, Inc held a high market position in 2019. These key players held a high market postion owing to the strong geographical foothold in different regions.

A. The total market value of pharmaceutical packaging market is $88,879.8 million in 2019

A. The forcast period for pharmaceutical packaging market is 2020-2027

A. The market value of pharmaceutical packaging market in 2027 is $1,44,233.3 million

A. The base year is 2019 in pharmaceutical packaging market

A. Packaging is an integral part of pharmaceutical product which is a packaging process for pharmaceutical preparations

A. It is often involved in dispensing, dosing, and use of the pharmaceutical product. Communication of proper use and cautionary labels are also regulated. Further, pharmaceutical packaging helps to ensure the safety of medicines during transit, distribution, and storage of packaged products.

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