Pharmaceutical Packaging Market 2021 Growing Demand, Size and Business Outlook - Amcor Limited, 3M Company, Schott AG, WestRock Company, Berry Global, Inc.

Pharmaceutical Packaging Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2026)

The report presents an in-depth assessment of the Pharmaceutical Packaging including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Pharmaceutical Packaging investments from 2020 till 2025.

The pharmaceutical packaging market was valued at USD 73.49 billion in 2020 and is expected to reach a value of USD 118.01 billion by 2026 and grow at a CAGR of 8.24%, during the forecast period (2021-2026).

The Pharmaceutical Packaging market is highly competitive and consists of a number of major players. Top Companies like Amcor Limited, 3M Company, Schott AG, WestRock Company, Berry Global, Inc., McKesson Corporation, AptarGroup, Inc., Klšckner Pentaplast Group, CCL Industries Inc., FlexiTuff International Ltd., Gerresheimer AG, West Pharmaceutical Services, Inc., Becton, Dickinson and Company, Vetter Pharma International GmbH among others.

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Industry News:

- Mar 2019 - West Pharmaceuticals opened New Digital Technology Center in Bengaluru, India. This Digital Technology Center will allow West Pharmaceutical team to create compelling digital experiences for their global customer base, source talent from India's fast-growing technology industry, and bring forward the latest digital advancements to create insights and value for their customers and team members for ultimately delivering better business results.
- April 2019 - SCHOTT invested BRL 50 million in its pharmaceutical tubing production in Rio de Janeiro, as part of its global growth strategy. As the demand in pharmaceutical industries increases, SCHOTT is contributing to manufacture 100% inspection of glass tubing to detect possible defects.

Scope of the Report

The spread of COVID-19 negatively impacted the market due to disruptions in supply chain, as a result of extended factory closures globally. Logistically, it has been difficult for bottles, blister packaging, prefillable syringes, vials, and ampoules manufacturers to provide to pharma companies.

Key Market Trends

Glass Packaging Hold Significant Market Share

- Glass packaging is one of the primary packaging materials used by the pharmaceutical industry, as it limits the alkalinity and hydrolytic resistance of the glass container. Within the pharmaceutical packaging market, glass bottles are expected to occupy a significant share by volume, driven by an increasing number of applications in both solid and liquid oral medications, as containers provide convenience, safety, and security.
- Glass containers offer high transparency, which allows easy inspection of its contents, and enables protection because it is relatively impermeable to air and moisture and chemical resistance to most of the medicinal products. Moreover, the demand for pharmaceutical glass and containers is majorly from densely populated economies, such as India and China. The growing pharmaceutical production in these countries is further increasing demand.
- Moreover, the increasing demand for injectable pharmaceuticals is significantly driving the growth of glass bottles in the pharmaceutical sector. The robust demand for oncology and other high-potency drugs (such as antibody conjugates, steroids, and IV fluids that require quick onset of action) is expected to be the key growth driver.
- The increasing number of people who have diabetes is significantly supporting the growth of glass bottles for injectable pharmaceuticals. According to the World Health Organization (WHO), around 422 million people have diabetes around the world. The growth in this number increases the demand for penicillin, which is, thereby, contributing to the growth of the market.

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North America to Occupy Largest Share

- North America is known for its technological development and product innovations, which is motivating manufacturers to produce high-class packaging solutions for the pharmaceutical industry. Major factors driving the North American pharmaceutical packaging market's growth include the contribution of nanotechnology advancement in manufacturing processes and technological innovation, growing demand for drug delivery devices, and blister packaging to the pharmaceutical packaging market.
- The United States will continue to be the largest national pharmaceutical packaging market as its advanced drug-producing sector commercializes new sophisticated therapies with specialized packaging needs. Advances in pharmaceutical packaging in the country are focused on improving the barrier properties of the packaging material.
- Moreover, the United States dominates the North American market for pharmaceutical glass packaging due to global players' presence, like Owens Illinois, Corning, and Gerresheimer. These companies cater to some of the largest pharmaceutical companies, like Abbott, Pfizer, Roche, and Novartis. These pharmaceutical companies cater to both domestic and international customers from their North American facilities.
- As people become more health-conscious and adopt a healthy lifestyle in the United States and Canada, the sale of a pharmaceutical drug is increasing. This makes the sales of pharmaceutical packaging products, such as a refillable syringe, vial, blister packs, etc. There is a need for constant innovation in the United States market, as stringent regulations by agencies, such as the FDA, require manufacturers to comply with stringent regulations while packaging drugs in the region.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Pharmaceutical Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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