“According to SNS Insider, the Pharmaceutical Packaging Market Size was valued at USD 137.80 billion in 2023. Projections by SNS Insider indicate it will reach USD 284.82 billion by 2031”
An aging population with rising chronic diseases like diabetes affecting 422 million people globally fuels demand for secure and efficient packaging.
Stringent regulations, emphasizing patient safety, drive a 6.3% projected annual growth in the parenteral containers segment, used for injectable medications. Governments play a crucial role too, with initiatives like the US Cures Act streamlining drug development, ultimately requiring strong packaging solutions. This perfect storm of demographics, regulations, economic growth, and government intervention ensures the pharmaceutical packaging market remains a vibrant and ever-evolving sector.
Stringent regulations can add up to 30% of development timelines. Balancing this with the need for innovation is crucial.
Counterfeiting remains a significant concern, with the World Health Organization estimating that 1 in 10 medical products in developing countries are counterfeit. Governments are stepping in with serialization and track-and-trace initiatives, but strong enforcement is essential. Furthermore, rising material costs and the ever-present push for sustainability create a complex equation for manufacturers.
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Major Players Listed in this Report are:
- West Pharmaceutical Services Inc
- Gerresheimer AG
- International Paper
- Vetter Pharma International
- Schott AG
- Drug Plastics Group
- CCL Industries Inc
- SGD Pharma
- Becton
- Dickinson, and Company
- WestRock Company
Biopharmaceutical expansion, for instance, is driving demand for innovative cold chain packaging solutions to ensure temperature-sensitive drugs maintain efficacy during transport and storage.
This segment is projected to grow at 18% by 2031. Additionally, with rising counterfeit concerns, governments are implementing serialization mandates. This necessitates integration of track-and-trace technologies within packaging, creating a multi-billion-dollar opportunity for manufacturers of tamper-evident and RFID-enabled solutions. Furthermore, the growing geriatric population presents an untapped market for child-resistant and unit-dose packaging, simplifying medication adherence for seniors by up to 70%.
Pharma manufacturing, the largest segment, utilizes packaging for primary containment, ensuring product sterility and adhering to strict regulations.
Retail pharmacies require packaging that balances functionality with patient convenience and marketing appeal. Institutional pharmacies, serving hospitals and clinics, prioritize bulk packaging for efficient storage and dispensing. Finally, the contract packaging segment, experiencing significant growth, fulfills the needs of various players by offering customized packaging solutions tailored to specific requirements.
Pharmaceutical Packaging Market Key Segments:
By Raw Material
- Plastics
- Polymers
- Paper & Paperboard
- Aluminium Foil
- Others
By Product Type
- Primary
- Secondary
By End Use
- Pharma Manufacturing
- Retail Pharmacy
- Institutional Pharmacy
- Contract Packaging
North America dominates in the pharmaceutical packaging industry.
This strength is encouraged by a well-established presence of major pharmaceutical companies in the US and Canada, a strong healthcare infrastructure, and a high disposable income level. This translates to a significant demand for diverse packaging solutions.
Primary packaging, which ensures product integrity and sterility, dominates, capturing a larger share compared to secondary and tertiary packaging. However, secondary packaging, encompassing marketing and consumer information, is experiencing a growth spurt due to the increasing focus on brand differentiation and patient education.
A 2023 study by the World Health Organization estimates that one in ten medical products circulating in low- and middle-income countries is counterfeit.
This not only undermines patient safety but also disrupts legitimate supply chains, potentially leading to stock shortages of essential medications. Additionally, stringent regulations around child safety and senior-friendly features are driving innovation in packaging design. Child-resistant closures and single-dose blister packs, for instance, are becoming increasingly common, impacting production costs and material selection. Furthermore, growing environmental concerns are pushing pharmaceutical companies to adopt sustainable packaging solutions.
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Recent Developments:
- In November 2022, Amcor, a global leader, invested in PulPac, a Swedish company pioneering low-cost, high-performance fiber-based packaging technology.
- This signifies a shift towards eco-friendly alternatives to traditional plastics. Meanwhile, Becton Dickinson’s acquisition of Parata Systems in June 2022 highlights the growing importance of automation.
- By integrating Parata’s expertise, Becton Dickinson aims to streamline pharmacy operations, improve medication safety, and enhance patient experiences.
Key Takeaways:
- The pharmaceutical sector itself is experiencing rapid expansion due to advancements in medicine and an aging global population with growing healthcare needs.
- The demand for secure and effective packaging to protect sensitive drugs during transport and storage is ever-increasing.
- Plastic bottles currently dominate the market, but glass and parenteral containers like vials and syringes are showing promise for faster growth due to their barrier properties and suitability for injectable drugs.
- Interestingly, while plastics and polymers have been the mainstay materials, glass is projected to see a rise in popularity, possibly due to concerns about potential chemical leaching from plastics into medications.
Table of Contents – Key Points
1.Introduction
2.Research Methodology
3.Market Dynamics
4.Impact Analysis
5.Value Chain Analysis
6.Porter’s 5 forces model
7.PEST Analysis
8.Pharmaceutical Packaging Market Segmentation, By Raw Material
9.Pharmaceutical Packaging Market Segmentation, By Product Type
10.Pharmaceutical Packaging Market Segmentation, By End Use
11.Regional Analysis
12.Company Profiles
13.Competitive Landscape
14.Conclusion
Continue….
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