Pharmaceutical Packaging Market : Overview
Global demand for pharmaceutical packaging to grow at 7.5% CAGR during the forecast period. The pharmaceutical packaging industry analysis shows that the market is set to touch 87 Bn in 2021, growing from 5.1% CAGR between 2016 and 2020.
Sensing the opportunities, pharmaceutical packaging manufacturers are relying on new product development and strategic mergers. As per Fact.MR analysis, top 5 players account for nearly 60% share.
For instance, in April 2021, Amcor announced the launch of their new recyclable healthcare packaging which is also the world’s first recyclable Polyethylene based thermoform blister packaging.
The packaging is designed to cater to the requirements of specialized and regulated pharmaceutical packaging.
The packaging reduces the 70% carbon footprint and enhances Amcor’s innovation and R&D capabilities.
As per Fact.MR pharmaceutical packaging demand analysis, China, U.S., and Russia are the top markets for pharmaceutical packaging sales.
Pharmaceutical Packaging to Register Two-fold Revenue Growth
On account of increasing population, consumer awareness and rising disposable income, the global pharmaceutical packaging market will grow 2.2X from 2019 to 2029.
Developing countries such as India, China, and Brazil cater to a millennial population which demands convenient packaging solutions such as auto-injectors, and pre-filed syringes.
When coupled with frequent deadly disease outbreaks such as Corona virus, H1N1, countries are compelled to make incremental investments in healthcare to increase life expectancy.
This filters down to an increase in demand for pharmaceutical packaging. Developed regions, on the other hand, are witnessing a proliferation of their geriatric population.
This consumer segment is highly dependent on pharmaceutical drugs for maintaining good health thus adding to the demand for pharmaceutical drugs packaging.
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Preference for Plastics & Polymers to Remain Intact
Polypropylene, a sub segment of plastics & polymer will experience accentuating demand on the back of favorable mechanical, thermal, physical, and electrical properties.
The material exhibits high tensile strength along with superior resistance against chemicals, organic solvents, and electrolyte attacks.
Plastics & Polymer segment accounts for more than 38% share of total market value. Glass is another material of importance with the second highest market share.
The silica based packaging material will continue to experience rising demand, owing to the prevalence of atmosphere sensitive pharmaceutical drugs.
For instance, oral solutions are always at risk of potential degradation via oxidation and hydrolysis, glass containers prevent that from happening.
Another factor that ensures growth of this segment is the practice of dosing.
Pharmaceuticals sold in glass packaging are administered to consumers in doses which necessitates durable packaging material of this kind.
Asian Markets to Widen Investment Opportunities
Characterized by the presence of leading pharmaceutical companies, North America will maintain its hegemony over global sales with 38% share of total market value.
The United States, regarded as the largest pharmaceutical market of the world will propel demand from this region on the back of growing geriatric population, high per-capita income, and increasing healthcare spending.
Southeast Asia & Oceania offer lucrative growth opportunities with a double digit CAGR of more than 11% through the end of 2029.
East Asia is another region that shows double digit growth. Countries such as China, Japan, and South Korea are developing healthcare infrastructure to accommodate the increasing demand for quality healthcare from the millennial workforce.
These factors will fuel pharmaceutical packaging demand from East Asia to grow at a stellar 10.6% CAGR during the forecast period.
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Prioritizing R&D for Sustainable Materials to be Key Market Imperative
The pharmaceutical packaging market is fragmented owing to the presence of companies operating regionally. Research and development of materials and packaging techniques is a top priority for every manufacturer.
Omnipresent concerns about global warming due to excessive packaging waste is leading to the introduction of stringent regulations in many countries.
Hence, manufacturers are adopting strategies such as mergers & acquisitions to expand their global footprint and add disruptive packaging advancements to their product portfolio.
Leading companies from the pharmaceutical packaging market are
- Amcor Plc
- Becton Dickinson & Company
- AptarGroup Inc.
- Drug Plastics Group
- Gerresheimer AG
- Schott AG
- Owens Illinois Inc.
- West Pharmaceutical Services Inc.
- Berry Global Inc.
- WestRock Company SGD S.A.
- International Paper Company
- COMAR LLC
- CCL Industries Inc.
- Vetter Pharma International.
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Global Pharmaceutical Packaging Market: In-Depth Assessment on Key Segments
The global pharmaceutical packaging market is segmented on the basis of material, product type, application and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared.
Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Global Pharmaceutical Packaging Market - Scope Of The Report
The following report provides forecast and analysis of the global pharmaceutical packaging market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and volume (Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global pharmaceutical packaging market along with several macro-economic indicators.
This newly published and insightful report on pharmaceutical packaging sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global pharmaceutical packaging market.
The report also comprises the study of current issues with end users and opportunities for pharmaceutical packaging. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of pharmaceutical packaging manufacturers on parameters such as total revenue, product offerings, and key strategies.
A list of key companies operating in the pharmaceutical packaging market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for pharmaceutical packaging has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous pharmaceutical packaging manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target applications.
The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global pharmaceutical packaging market.
Some of the key competitors operating in the pharmaceutical packaging market are Amcor Plc, Becton, Dickinson and Company, AptarGroup, Inc., Drug Plastics Group, Gerresheimer AG, Schott AG, Owens Illinois Inc., West Pharmaceutical Services Inc. and others.
Global Pharmaceutical Packaging Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes.
Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the pharmaceutical packaging market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the pharmaceutical packaging market, which includes global GDP growth rate, various industries growth rate such as pharmaceutical, packaging, and others.
This report serves as an authentic resource of intelligence on the pharmaceutical packaging market, enabling the readers to take fact-based decisions on the future direction of their businesses.
- FAQs -
Pharmaceutical packaging market is worth US$ 87 billion in 2021. The market is set to grow at 7.5% CAGR during the forecast period
Pharmaceutical packaging demand has grown at 5.1% CAGR between 2016-2020
China, U.S. and Russia are the top 3 exporters of pharmaceutical packaging globally.
Leading pharmaceutical packaging companies hold 60% of the overall market share
Pharmaceutical packaging manufacturers are focusing on sustainable, safe, and affordable offerings to meet end-user expectations.
North America pharmaceutical packaging market is expected to expand at a CAGR of 6.9% over the forecast period.
European pharmaceutical packaging market is expected to expand at a CAGR of 6.4% over the forecast period.
Sales of pharmaceutical packaging in South Korea is set to grow at 8.3% CAGR, whereas demand for pharmaceutical packaging in Japan will grow at 7% CAGR
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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