Pharmaceutical Packaging Market Expected to Reach $104,882 Million, Globally, by 2022

pharmaceutical packaging market is expected to reach $104,882 million by 2022 from $68,749 million in 2015, growing at a CAGR of 6.27% from 2016 to 2022. This market is expected to witness notable growth in the coming years, owing to the increased R&D, new innovations in packaging materials, growth in generic market, and rise in trend of contract packaging. Growth in demand for reusable and eco-friendly packaging is also expected to drive the market. The pharmaceutical drug manufacturing companies have started to adopt eco-friendly pharmaceutical packages to overcome environmental concerns. Technological advancements in pharmaceutical packaging solutions offer immense innovative and advanced applications to the pharmaceutical & biopharmaceutical industries to improve their packaging standards. The impact of these drivers is expected to increase significantly due to increase in awareness about various diseases, rise in self-medication, and growth in usage of OTC drugs. The cost of pharmaceutical packaging is expected to reduce with the advancement in technology and eco-friendly packaging. The introduction of nano-enabled packaging is projected to have a positive impact on this market.

The primary raw materials used in pharmaceutical packaging are resins, plastics, and films. Packaging adhesives are the secondary raw materials used in the pharmaceutical packaging industry. The sustained interruption in the supply of these raw materials also leads to a significant increase in their prices and impedes the production of pharmaceutical packages. It is important for innovators to understand the extensive network of regulations that may affect an innovation. For instance, the basic requirements for flexible packaging materials as per the U.S.

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Pharmaceuticals packaging market is segmented based on product type and geography. Based on product type, it consists of plastic bottles, parenteral containers, blister packaging, specialty bags, closures, labels, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Increase in healthcare investments and medicinal advancements are key factors that fuel the growth of pharmaceutical packaging market. In LAMEA, the market is anticipated to grow at a CAGR of 7.14% between 2016 and 2022.

For instance, the Latin America market is anticipated to witness a CAGR of 6.51% during the forecast period.

Drivers:

The advanced manufacturing processes used to develop pharmaceutical packages play a pivotal role in the growth of the global pharmaceutical packaging market. Advanced manufacturing processes, including green packaging technologies, use environment-friendly materials to develop pharmaceutical packages, which inflict minimal harm to the environment. The designs of these biodegradable and eco-friendly packaging materials are replacing the existing conventional packaging materials. The raw materials used for eco-friendly packaging include paper, cardboard, and corn starch. The use of biodegradable materials supports sustainability of all stages of pharmaceutical product lifecycle; thus, pharmaceutical manufacturers increase the demand for sustainable packaging.

Restraints:

The price volatility of raw materials used in pharmaceutical packaging restrains the growth of the market. The raw material and packaging costs have increased significantly in the last few years, and it is also expected that the prices will increase overall along with changes in ecological measures.
In 2015, Amcor dominated the pharmaceuticals packaging market followed by Gerresheimer. Prominent players profiled in this market include Berry Plastics Corporation, Becton Dickinson and Company, MeadWestvaco Corporation, West Pharmaceuticals Services Inc, Owens-Illinois, RPC Group, Schott Pharmaceuticals Services Inc., and Graphic Packaging Group.

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Other key players (not profiled in the report) in the market value chain include Aptar Group Inc, Westrock and Catalent Pharma Solutions Inc., Anchor Packaging, Ball Corporation, 3M, Sealed Air Corporation, Baxter International Inc., Centor and Lilly (Eli) Company, Unilife Corporation, Exporta Global, and Plastube Inc.

Key Benefits for Stakeholders:

• The market research provides a quantitative and qualitative analysis of the current pharmaceutical packaging industry trends and estimations through 2014‐2022, which assist in identifying the prevailing market opportunities in different segments.
• Pharmaceutical packaging industry report define trends in major countries in each region are mapped according to the estimated market revenue.
• Pharmaceutical packaging industry overview across different products used in packaging is analyzed.
• Focused study of the factors that drive and restrict the pharmaceutical packaging industry growth are provided.
• Key manufactures of pharmaceutical packaging are profiled and their recent developments are listed.

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