Pharmaceutical Packaging Market

Global Pharmaceutical Packaging Market Size (2024 to 2032)

The global Pharmaceutical Packaging Market size was valued at USD 84.91 billion in 2023, and the market size is expected to reach USD 171.16 billion by 2032 from USD 91.79 billion in 2024. The market's promising CAGR for the predicted period is 8.1%.

Current Scenario of the Global Pharmaceutical Packaging Market

The pharmaceutical industry is booming in economies like China, India, and Brazil due to the increasing population, rising disposable income, and augmenting focus on increasing life expectancy. Moreover, the increasing concentration of pharmaceutical packaging makers on the adoption of biodegradable and recyclable materials is likely to fuel the growth of this business further.

A significant loss in revenue due to the counterfeiting of products is not able to be upheld for companies. Therefore, companies reduce revenue loss due to complex supply chain issues and invest more to a great extent with anti-counterfeit solutions for their drugs. Manufacturers of pharmaceutical packaging are determined to focus on design-level innovations to address the existing problems in the industry. R&D in the pharmaceutical industry seems to have no ending process. New biological drug formulations will continue to drive demand for innovative pharmaceutical packaging solutions, which keep drug interaction with the packaging material.

MARKET DRIVERS

The rising need for robust packaging material for pharmaceutical purposes is supposed to fuel in the following years with a high prevalence of chronic disorders among people that requires the intake of different drugs. The global rise in population and different demographics supporting the pharmaceutical industry in various areas offer immense growth potential for leading companies that are experiencing issues like market saturation, stringent regulatory policies, and patent expiry. An important role in enhancing the Pharmaceutical Packaging Market is the introduction of innovative packaging in Nanotechnology, biotechnology, and electronics.

MARKET RESTRAINTS

On the other hand, poverty, lack of proper infrastructure, low literacy rate, and prevalence of unorganized healthcare systems in emerging markets are restraining the growth of the market. Poverty is a significant barrier to accessing healthcare facilities in these becoming apparent or prominent economies. Financial constraints, lack of information, outdated equipment, lack of proper staff, and awareness of proper healthcare practices are the major challenges that limit access to healthcare services. These are acting as a challenge to the development of the global pharmaceutical packaging market in emerging regions such as India, Brazil, South Africa, and others.  Fluctuations in the availability of raw materials for packaging are acting as a threat to business development.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Pharmaceutical Packaging Market By Type

By type, the prefilled syringes segment is the fastest-growing type in the overall pharmaceutical packaging market, owing to the increased cases of diabetes. Pre-filled syringes offer the absence of difficulty of usage in terms of self-drug administration. Bottles are crucial for storing drugs in both liquid and solid forms and can be integrated with the cap and closure to meet specific applications like nasal spray and ophthalmic drops.

Global Pharmaceutical Packaging Market By Drug-Delivery Mode

Based on drug delivery, the oral drugs segment is estimated during the outlook period to account for the largest share. The oral drug delivery mode is also the most substantial portion of the overall business. This large market size can be contributing to the increased occurrence of chronic diseases, improving patient compliance, reformulation, and repositioning of drugs using advanced oral delivery systems.

Global Pharmaceutical Packaging Market By Material

On the basis of material, the plastics & polymers material segment accounted for the largest revenue share in 2019 and be involved to continue its power and influence over others. Globally, both glass and metal are estimated during the forecast period to register growth rates of over 4% and 6% respectively. Pharmaceutical packaging makers assist the growing ecosystem for recyclable materials and are heavily funding recovery and recycling facilities.

REGIONAL ANALYSIS

APAC is estimated during the calculated period as the fastest-growing market for pharmaceutical packaging. In pharmaceutical packaging market in the Asia Pacific is driven by the increasing government initiatives independently, an increase in contract manufacturing activities, a rise in the aging population, and increased spending on healthcare. China and India are sufficiently great or important markets in this region. The demand for pharmaceutical packaging has also increased to a significant extent in other developing economies like Brazil and Russia.

KEY MARKET PLAYERS

The major key players in the Global Pharmaceutical Packaging Market are Amcor Plc, Gerresheimer AG, AptarGroup Inc., Becton, Dickinson and Company, Schott AG, West Pharmaceutical Services Inc., Berry Global, and others.

RECENT HAPPENINGS IN THE MARKET

• January 2020: Pharma Packaging launched a novel packaging solution exclusively designed and developed for the medicinal cannabis industry.

• July 2019: Berry Global completed its takeover of the UK-domiciled plastic packaging company, RPC Group, for approx.  USD 6.5 billion.

DETAILED SEGMENTATION OF THE GLOBAL PHARMACEUTICAL PACKAGING MARKET INCLUDED IN THIS REPORT

This research report on the global pharmaceutical packaging market has been segmented and sub-segmented based on type, drug-delivery mode, material, and region.

By Type

• Plastic Bottles
• Blister Packs
• Labels & Accessories
• Caps & Closures
• Pre-filled Syringes
• Vials
• Ampoules
• Others (paperboard boxes, corrugated boxes, and trays)

By Drug-Delivery Mode

• Oral Drugs
• Injectable
• IV Drugs
• Others

By Material

• Plastics & Polymers
• Paper & Paperboards
• Glass
• Metals

By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa