Pharmaceutical Contract Packaging Market (2022-2029)
The Pharmaceutical Contract Packaging Market is projected to reach $42.03 billion by 2029, at a CAGR of 8.4% from 2022 to 2029.
- Published
- Sep 2022
- Pages
- 170
- Format
- PDF + Excel
- Report ID
- MRHC - 104670
- Base year
- 2021
- 2029 · FORECAST
- $42.03B
- 2029
- $42.03B
- CAGR 2022–2029
- 8.4%
2021 baseline · 2022–2029 forecast at 8.4% CAGR · hover a bar for the value
Key highlights
Based on service, in 2022, the primary packaging segment is expected to account for the largest share
Based on material, in 2022, the plastics & polymers segment is expected to account for the largest share
Asia-Pacific: Fastest Growing Regional Market
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2021 |
| Estimated Year | 2022 |
| Forecast Period | 2022–2029 |
| Market Size (2029) | USD 42.03 billion |
| CAGR (2022–2029) | 8.4% |
| Format | PDF, Excel & Cloud Portal · 170 pages |
| Segments Covered | By Service: Primary Packaging Bottles, Vials, Ampoules, Blister Packs, Other Primary Packaging · By Material: Plastics & Polymers, Paper & Paperboard, Glass, Aluminum Foil, Other Materials Note: Other materials include metal and paper. |
| Countries Covered | Europe (RoE), Asia-Pacific (RoAPAC), Latin America (RoLATM) |
| Key Companies | Daito Pharmaceutical Co., Ltd., Sharp Services, LLC, Vetter Pharma International GmbH, Alcami Corporation |
Report overview
Segments covered: service, material. Regions: Europe, Asia-Pacific, Latin America.
Pharmaceutical companies outsource packaging operations to contract packaging firms to reduce their operating costs and focus on the core operations of developing a drug. Furthermore, serialization regulations for pharmaceuticals are progressing globally, and many pharmaceutical contract packaging firms already have efficient serialization workflows. Thus, outsourcing packaging functions allows pharmaceutical companies to meet serialization requirements without investing time and money in developing serialization workflows.
The growth of the pharmaceutical contract packaging market is driven by the growing adoption of smart packaging solutions, stringent regulatory policies concerning serialization regulations, and complex packaging requirements of the pharmaceutical industry. Furthermore, the adoption of postponement packaging to improve operations efficacy is offering market growth opportunities.
Report infographic
COVID-19 Impact Assessment
The outbreak of COVID-19 has created severe uncertainty about the demand for pharmaceuticals worldwide. In the light of the pandemic, the pharmaceutical companies pivoted their resources to vaccine production and R&D to develop a therapy for COVID-19, offering opportunities to the pharmaceutical contract packaging businesses. Pharmaceutical contract packaging firms are equipped with facilities that offer extensive benefits to pharmaceutical companies. Therefore, these companies focused on having a flexible capacity to support the growing demand for contract packaging.
The demand for vaccines increased exponentially to immunize people against COVID-19. This increased the demand for contract packaging services. Additionally, the demand for cryogenic labels also increased.
Thus, apart from the temporary supply chain disruptions in procuring materials for pharmaceutical packaging, the overall impact of the pandemic on the pharmaceutical contract packaging market has been positive.
Market dynamics
2 factors across 2 forcesAdoption of Smart Packaging Solutions is Driving the Market Growth
The main purpose of the packaging is to protect the drug or drug product against the harmful effects caused by exposure and usage in the external environment. Smart packaging solutions utilize biosensors or chemical sensors to monitor the quality and safety of the product. Smart packaging solutions in pharmaceutical contract packaging help stakeholders monitor pharmaceuticals from dispatch to delivery. Furthermore, smart solutions offer benefits such as integration, safety and authenticity, patient adherence, and sustainability. The advent of contract packaging has helped pharmaceutical companies save on packaging costs, as new packaging formats can be expensive.
Table of contents
10 chapters · 80 sections · 170 pages · click to expandSegmental analysis
| Segment | Largest share (2022) | Fastest growth (2022–2029) |
|---|---|---|
| By Service | Primary packaging | — |
| By Material | Plastics & polymers | — |
By Service
- The primary packaging segment is expected to account for the largest share
- The primary packaging is further segmented into bottles, vials, ampoules, blister packs, and other primary packaging.
- The bottles sub-segment is expected to account for the largest share of the market.
- The large market share of this segment is attributed to its benefits, such as cost-effectiveness, flexibility, and safety, while storing the pharmaceuticals in bottles.
By Material
- The plastics & polymers segment is expected to account for the largest share
- Polymers like high-density polyethylene and acrylic are used for fluid handling applications within the pharmaceutical sector.
- These materials keep medicine safe for use.
- Plastics & polymers also keep the pharmaceuticals safe during sterilization, offer UV protection, and are non-reactivity with chemicals.
- Furthermore, the growing trend of adopting biodegradable and reusable plastic is positively impacting the growth of this segment.
Geographic analysis
Asia-Pacific
Fastest growthThe growth in Asia-Pacific is attributed to the presence of a large number of contract packaging service providers in the region and the growing investments. The players operating in this market are continuously expanding their pharmaceutical operations. Furthermore, the presence of cost-effective labor and machinery also supports the market growth. Asia-Pacific: Fastest Growing Regional Market
Competitive landscape
- Daito Pharmaceutical Co., Ltd.
- Sharp Services, LLC
- Vetter Pharma International GmbH
- Alcami Corporation
Frequently asked questions
This study offers a detailed assessment of the pharmaceutical contract packaging market, including the market size & forecast for various segmentation like service and material. The pharmaceutical contract packaging market studied in this report also involves the value analysis of various segments and sub-segments of pharmaceutical contract packaging at regional and country levels.
Cite this report
Meticulous Research. (2022). Pharmaceutical Contract Packaging Market - Global Opportunity Analysis And Industry Forecast (2022-2029) (Report No. MRHC - 104670). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/pharmaceutical-contract-packaging-market-5354