The global pharmaceutical packaging market is anticipated to grow at a significant CAGR of 9.7% during the forecast period. The market growth is attributed to the increasing demand for reusable and environmentally friendly packaging. To overcome environmental concerns, pharmaceutical drug manufacturing companies have begun to adopt environmentally friendly pharmaceutical packaging solutions. Technological advances in pharmaceutical packaging solutions provide the pharmaceutical & biopharmaceutical industries with immense, innovative, and advanced applications to improve their packaging standards. Further, it is expected that the introduction of nano-enabled packaging will have a positive impact on the growth of the pharmaceutical packaging market in the near future. The sale of prescription drugs is increasing in the US and Canada as individuals become more health-conscious and pursue a healthy lifestyle. These boosts sales of pharmaceutical packaging items such as refillable syringes, vials, blister packs, and other similar items. In the US market, constant innovation is required due to tight regulations imposed by bodies such as the FDA, which compel producers to adhere to strict regulations when packaging medications in the region.
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Pharmaceutical packaging includes the combination of the necessary material to contain, preserve, and protect drug products. In addition, packaging also allows manufacturers to distinguish between their products and competitors’ products. Pharmaceutical packaging protects products against physical damage, biological contamination, and any external adverse effects that may damage the properties of the product. Pharmaceutical packaging material consists of primary and secondary packaging. The primary packaging system is the packaging material that has direct contact with the product. Bottles, caps, labels, and cap liners are included in primary packaging. While, the secondary packaging system includes cartons, pallets, and corrugated shippers.
The Asia Pacific Region is Expected to Hold a Prominent Share in the Global Pharmaceutical Packaging Market
The Asia Pacific region is expected to hold a prominent share in the global pharmaceutical packaging market owing to the enforcement of government regulations for drug safety. Factors such as the increasing popularity of rigid plastic material and the high demand for Polyethylene Terephthalate (PET) and Polyethylene (PE) as the primary plastics will also contribute to the growth of pharmaceutical packaging in the region. China is a major economy in the region which contributes majorly to the growth of the market. India and Japan are also contributing significantly to the market.
by Product Type (Primary Packaging and Secondary Packaging),
by Material Type (Plastic & Polymers, Paper & Paperboard, Glass, and Metals), and
by End-User (Pharmaceutical Manufacturing, Contract Packaging, Retail Pharmacy, and Others)
Market Players Outlook
The major companies serving the global pharmaceutical packaging market include Amcor Ltd., Schott AG, AptarGroup, Inc., Gerresheimer AG, and West Pharmaceutical Services, Inc., among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, new launches, and partnerships.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global pharmaceutical packaging market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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