Global Pharmaceutical Packaging Market is Expected to Grow at CAGR XX% from 2021 to 2030
The Global Pharmaceutical Packaging Market has been estimated to reach a value of USD XX million in 2021 and is projected to grow at a CAGR of XX% during the forecast period from 2021 to 2030. Packaging refers to the various components that surround a pharmaceutical product from the moment it is manufactured until it is used.
Important growth drivers for the industry include an increasing demand for medicines as healthcare costs rise and consumers become more aware of the benefits of living a healthier lifestyle. To accommodate the continued growth of blister packs, vials, pre-filled syringes, containers, bottles, cartridges, and pouches, pharmaceutical packaging businesses expanded their output. This was mostly due to a surge in demand for COVID-related drugs and vaccinations.
In the pharmaceutical sector, the packaging is critical because it protects against physical, chemical, and biological damage. It's a way to give the customer useful information. Customers always have the option of choosing their packaging. Pharmaceutical packaging is critical and subject to external factors such as moisture and light.
The preservation of medicine's curative benefits is one of the most important pharmaceutical packaging concerns. Furthermore, they must adhere to current quality control standards. Medication should be kept away from moisture and heat in general. Vaccines, for example, must be stored at specific temperatures.
Global Pharmaceutical Packaging Market, by Material
Based on the material, the global pharmaceutical packaging market is segmented into plastic and polymers, paper and paperboard, glass, aluminum foil, and others. Plastics and polymers is further segmented into polyvinyl chloride, polypropylene, polyethylene terephthalate (PET), positronium (PS), polyethylene (PE), and others.
The plastic and polymer segment is projected to dominate the market during the forecast period. This is due to an increase in the design of pharmaceutical dosage forms, where polymers could perform a variety of roles. They can be utilized as adhesives, packing, and coating materials, as well as suspending, emulsifying, binding, and flocculating agents. Gels, nanoparticles, microparticles, and different capsules can all be made from polymers.
Global Pharmaceutical Packaging Market, by Product
Based on the product, the global pharmaceutical packaging is segmented into primary, secondary, and tertiary. Primary has been further bifurcated into plastic bottles, caps and closures, parenteral containers, blister packs, pre-fillable inhalers, pouches, medication tubes, and others. The secondary segment has been bifurcated into prescription containers and pharmaceutical packaging accessories.
The primary segment is expected to dominate the market during the forecast period. Plastic bottles are often used to package over-the-counter (OTC) solid doses, bulk doses, and prescription doses of oral ethical medicines in the primary segment. Plastic bottles are ideal for storing drugs in both liquid and solid form, and they can be combined with the appropriate caps and closures, such as nasal spray and ocular drops.
Plastic packaging is a cost-effective and reliable option for a multitude of businesses, including the pharmaceutical industry. They're frequently utilized as a protective covering for other packaging materials, as closures/lids for glass and plastic packaging, as long-lasting pharmaceutical casings, and more.
Global Pharmaceutical Packaging Market, by End-Use Industry
Based on the end-use industry, the market is segmented into pharmaceutical manufacturing, contract packaging, retail pharmacy, and institutional pharmacy. In 2021, the pharmaceutical manufacturing segment is expected to account for the highest share, and it is expected to remain so during the forecast period.
Pharmaceutical manufacturing companies strive to develop and market increasingly effective treatments. Companies concentrate on the most profitable markets, where there is a large demand for treatment. Increases in the number of older and obese people fuel disease growth in these categories, therefore cardiovascular, cancer, and diabetes drugs are key areas of development. Companies may also concentrate on uncommon disease categories, where viable treatments are scarce or non-existent and where accelerated approvals and profitable pricing are possible.
Global Pharmaceutical Packaging Market, by Region
Based on the Region, the global pharmaceutical packaging market is segmented into North America, Europe Asia Pacific, Middle East and Africa and South America. Asia Pacific region is anticipated to record a high CAGR during the forecast period.
The pharmaceutical packaging market in North America is the largest in the world. The fast-growing pharmaceutical industry is responsible for the region's growth. The market for worldwide pharmaceutical packaging in this region is being driven by increased demand for primary packaging goods, rising healthcare spending, and rising illness prevalence.
Recent Key Developments in the Global Pharmaceutical Packaging Market
- March 2021- Aptar Pharma, a global leader in drug delivery systems, services and active packaging solutions and Noble, an Aptar Pharma company, the world leader in drug delivery training device programs, today announced their collaboration with done pharma, a leader in addiction medicine in Northern Europe.
- September 2019- SCHOTT has announced a USD 1000 million investment in its pharmaceutical packaging market to expand capacity by more than 50 %. Now SCHOTT has achieved a milestone, delivering vials to three out of every four COVID-19 vaccine projects undergoing phase 1, 2 and 3 testing. The investment was provided in September 2020.
- Plastics and Polymers
- Polyvinyl Chloride
- Paper and Paperboard
- Aluminum Foil
- Plastic Bottles
- Caps and Closures
- Parenteral Containers
- Blister Packs
- Pre-fillable Inhalers
- Medication Tubes
- Prescription Containers
- Pharmaceutical Packaging Accessories
By End-Use Industry
- Pharmaceutical Manufacturing
- Contract Packaging
- Retail Pharmacy
- Institutional Pharmacy
- Asia Pacific
- South America
- Middle East and Africa
- North America