Pharmaceutical Packaging Market Size to grow by USD 48889.6 million between 2023-2027
According to a research report “ Pharmaceutical Packaging Market” by Material (Rigid plastic, Flexible plastic, Glass, Others) Product (Plastic bottles, Caps and closures, Blister packs, Pre-fillable syringes, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 48889.6 million, at a CAGR of 8.44% during the forecast period. Pharmaceutical companies continue to prioritize Research and Development (R&D) spending, allocating approximately 15-20% of their revenues towards this area. Notable companies like Biogen and F. Hoffmann-La Roche invested 18-20% of their revenues in R&D during 2020. This heightened investment in R&D is projected to result in an increased number of pharmaceutical products, consequently fueling the demand for pharmaceutical packaging. By offloading packaging operations to external providers, pharmaceutical manufacturers can significantly reduce their capital and operational expenses related to packaging machinery procurement, facility setup, and labor costs.
Browse market data tables, figures, and in-depth TOC on “Pharmaceutical Packaging Market” by Material (Rigid plastic, Flexible plastic, Glass, Others) Product (Plastic bottles, Caps and closures, Blister packs, Pre-fillable syringes, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2027. Download Free Sample
By Material, the Rigid plastic segment is projected to dominate the market size in 2024
In the dynamic pharmaceutical industry, plastic bottles have emerged as a preferred choice for primary packaging due to their versatility in accommodating solid, liquid, and semi-liquid pharmaceutical products. The surge in demand for syrups, ophthalmic, and nasal medicines, primarily driven by the rising prevalence of dry eye caused by extended screen time, significantly contributes to the growth of the pharmaceutical packaging market utilizing plastic bottles. These bottles, fabricated from polyethylene and polypropylene, offer the advantage of eliminating the need for tertiary packaging and ensuring product safety throughout the supply chain.
By Product, Plastic bottles segment is expected to hold the largest market size for the year 2024
In the pharmaceutical industry, rigid plastic packaging plays a pivotal role in safeguarding the integrity of oral medications and over-the-counter drugs. Primarily composed of polyethylene polymers, these packaging solutions offer customizable options to cater to diverse specifications. The APAC region, driven by increasing self-medication awareness, is projected to experience substantial growth in over-the-counter drug sales, reaching an estimated USD6 billion in India alone by 2023. This trend underscores the significance of robust plastic packaging solutions in the pharmaceutical sector.
North America is forecasted to hold the largest market size by region in 2024
In the North American pharmaceutical landscape, the US dominates as the primary market contributor. Key players, including Johnson & Johnson, Pfizer, Abbott Laboratories, and Bristol Myers Squibb, spearhead this industry. Factors such as escalating US pharmaceutical exports, surging healthcare expenditures, an aging population, and expanding government healthcare insurance programs fuel market growth. The robust intellectual property system in the US further boosts sales of patented drugs, thereby attracting substantial venture capital investments in the pharmaceutical packaging sector.
The Pharmaceutical Packaging Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
In the dynamic pharmaceutical industry, packaging plays a crucial role in ensuring the safety, efficacy, and accessibility of various forms of medications. The market for pharmaceutical packaging encompasses a wide range of products, including rigid bottles for powders and liquids, as well as capsules and tablets. Biopharmaceutical and generic drugs also require specialized packaging solutions. Emerging economies, influenced by demographic trends and financial constraints, are increasingly important players in the healthcare system. These markets often favor cost-effective solutions such as glass bottles and blister packaging. However, financial poverty and the prevalence of chronic diseases necessitate innovative drug delivery devices and packaging technologies. The pharmaceutical packaging market is driven by the development of new drugs and the need to address the unique challenges of various healthcare systems. Key trends include the use of sustainable materials, advanced drug delivery systems, and the integration of technology to improve patient compliance and overall healthcare outcomes.
Market Research Overview
In the dynamic pharmaceutical industry, packaging plays a crucial role in ensuring the safety, efficacy, and sustainability of various medications. The market for pharmaceutical packaging encompasses a wide range of products, including vials and ampoules for nano drugs and biological medications, folding cartons for tablets and capsules, cartridges, closures, and bottles for injectable drugs, and blister packs, sachets, and flat pouches for non-prescription and prescription drugs. Key players in this market include Phoenix Flexibles, Amcor, and International Paper, among others. The use of sustainable materials, such as BIO-PET, R-PET, compostable material, and PCR material, is gaining popularity due to environmental concerns and regulatory requirements. Counterfeiting measures, such as tamper-evident properties, IoT devices, and NFC tags, are essential to prevent the distribution of counterfeit drugs and ensure patient safety. Emerging technologies, such as blockchain, cloud serialization, and nano barcodes, are being adopted to enhance traceability and reduce dosing errors and contamination risks. Financial constraints, poverty, demographic trends, and healthcare systems in emerging economies are driving the demand for affordable and innovative drug delivery devices, such as pre-filled syringes, prefilled inhalers, medication tubes, and plastic and glass bottles. Chronic diseases and the increasing prevalence of chronic conditions are further fueling the growth of the pharmaceutical packaging market.
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