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Redding, California - April 10, 2024

Pharmaceutical Packaging Market to be Worth $176.54 Billion by 2031

Pharmaceutical Packaging Market by Material (Polymer [PE, PP, PET], Glass, Paper, Metal) Type (Bottles, Blister, PFS, Caps, Vials, Ampoules, Sachet, Inhaler, Secondary, Tertiary) Dosage Form (Oral, Parenteral, Topical), End User - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Pharmaceutical Packaging Market by Material (Polymer [PE, PP, PET], Glass, Paper, Metal) Type (Bottles, Blister, PFS, Caps, Vials, Ampoules, Sachet, Inhaler, Secondary, Tertiary) Dosage Form (Oral, Parenteral, Topical), End User - Global Forecast to 2031’.

According to this latest publication from Meticulous Research^®, the global pharmaceutical packaging market is projected to reach $176.54 billion by 2031 at a CAGR of 7.6% from 2024 to 2031. The growth of the pharmaceutical packaging market is driven by growth in the pharmaceutical sector, the rising demand for drug delivery devices, growing healthcare expenditures, the increasing focus on biosimilars, the growing trend of contract manufacturing & packaging in the pharmaceutical sector, and growth in the aging population & the consequent rise in chronic disease prevalence. However, increasing instances of counterfeit packaging, increasing waste generation due to single-use packaging, and concerns over certain materials leaching into pharmaceutical preparations restrain the growth of this market.

Furthermore, the rising adoption of personalized medicines & self-medication, improving healthcare provisions in emerging economies, the growth in pharmaceutical R&D spending, and the increasing focus on vaccine development & vaccination coverage are expected to generate growth opportunities for the players operating in this market. However, changing regulatory regimes and market demands in the constantly evolving pharmaceutical landscape are major challenges impacting market growth.

Key Players

The key players operating in the global pharmaceutical packaging market are Amcor plc (Switzerland), AptarGroup, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Gerresheimer AG (Germany), Schott Pharma AG & Co. KGaA (Germany), Berry Global Group, Inc. (U.S.), Drug Plastics Group (U.S.), Catalent, Inc. (U.S.), SGD Pharma (France), Corning Inc. (U.S.), WestRock Company (U.S.), and West Pharmaceutical Services, Inc. (U.S.).

Pharmaceutical Packaging Market: Future Outlook

The global pharmaceutical packaging market is segmented by Material (Polymer [Polyvinyl Chloride, Polyethylene Terephthalate, Polypropylene, Polyethylene, and Other Polymers], Glass, Paper & Paperboard, Metal, and Other Materials), Packaging Type (Primary Packaging [Blister Packaging, Bottles, Vials & Ampoules, Caps & Closures, Pre-fillable Inhalers, Pre-fillable Syringes & Cartridges, Pouches & Sachets, and Other Primary Packaging], Secondary Packaging, and Tertiary Packaging), Dosage Form (Oral Dosage Form [Oral Solid Dosage and Oral Liquid Dosage], Parenteral Dosage Form, and Other Dosage Forms), End User (Pharmaceutical Companies, Contract Companies, Pharmacies), and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Among all the materials studied in this report, the glass segment is projected to register the highest CAGR during the forecast period. The highest CAGR of this segment is attributed to the increasing usage of glass in pharmaceutical packaging, rising demand for vials & ampoules, and the recent launch of glass material packaging. For instance, in October 2023, Stoelzle Pharma (Austria) launched a PharmaCos packaging line for Wellbeing and Healthcare Products. The newly launched packaging line consists of a diverse range of glass jars, available in sizes ranging from 5 ml to 500 ml, all in amber with a screw neck design.

Among all the packaging types studied in this report, in 2024, the primary packaging segment is expected to account for the largest share of the pharmaceutical packaging market. The large share of the segment is attributed to the expansion of manufacturing facilities by key players operating in the pharmaceutical industry, rising R&D expenditure of the pharmaceutical industry, and advancements in primary packaging. For instance, advancements such as the integration of radio frequency identification (RFID), temperature-indicating inks, near-field communication (NFC), printed invisible watermarks, and battery-free Bluetooth in the primary packaging are gaining traction in the market.

Among all the dosage forms studied in this report, the parenteral dosage form segment is projected to register the highest CAGR during the forecast period. Parenteral administration is the second most common method of drug delivery, following oral solids and liquids. In recent years, parenteral drugs have accounted for approximately 40% of new molecular entities approved annually by the U.S. Food and Drug Administration. The increasing development of parenteral drugs is fuelling the demand for sophisticated drug delivery devices like pre-filled syringes. Additionally, the advancement in parenteral packaging is further driving the market growth. For instance, smart packaging incorporates sensors and indicators to monitor the condition of products, providing real-time information about their status. SCHOTT Pharma (Germany) utilizes a track-and-trace solution for vials and containers, applying a unique code to each container upon manufacture. This code enables tracking of the entire supply chain of the container.

Among all the end users studied in this report, in 2024, the pharmaceutical companies segment is expected to account for the largest share of the pharmaceutical packaging market. The large share of the segment is attributed to the increasing demand for medicines, rising prevalence of chronic diseases, rising geriatric population, and increasing number of drugs in the pipeline are driving the growth of the pharmaceutical packaging market. According to a report published by Pharmaceutical Research and Manufacturers of America (U.S.) in 2023, 1,600 drugs and vaccines are in clinical development for cancer.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S., Canada), Europe (Switzerland, Italy, Germany, France, U.K., Ireland, Belgium, Spain, Denmark, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and Middle East & Africa.

Among all regions studied in this report, Asia-Pacific is expected to register the highest CAGR during the forecast period. In the Asia-Pacific region, China is expected to register the highest CAGR during the forecast period. The rising pharmaceutical R&D spending by key pharmaceutical companies in China is positively impacting the pharmaceutical packaging market growth. In 2022, the R&D spending of BeiGene Ltd. (China), one of the major pharmaceutical companies, increased by 12.4% from 2021. Additionally, the government of China, along with the private sector, is focusing on enhancing domestic manufacturing capabilities. In 2015, the Government of China unveiled the Made in China (MIC) 2025 plan aimed at bolstering the country's domestic manufacturing capabilities.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5298

Key questions answered in the report-

Which are the high-growth market segments in terms of material, packaging type, dosage form, end user, and region/country?
What was the historical market size for pharmaceutical packaging globally?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, challenges, opportunities, and trends in the global pharmaceutical packaging market?
Who are the major players in the global pharmaceutical packaging market?
What is the competitive landscape like, and who are the market leaders in the global pharmaceutical packaging market?
What are the recent developments in the global pharmaceutical packaging market?
What are the different strategies adopted by the major players in the global pharmaceutical packaging market?
What are the geographical trends and high growth regions/countries?

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Redding, California - April 10, 2024

Pharmaceutical Packaging Market to be Worth $176.54 Billion by 2031

Pharmaceutical Packaging Market by Material (Polymer [PE, PP, PET], Glass, Paper, Metal) Type (Bottles, Blister, PFS, Caps, Vials, Ampoules, Sachet, Inhaler, Secondary, Tertiary) Dosage Form (Oral, Parenteral, Topical), End User - Global Forecast to 2031

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