Pharmaceutical Packaging Market Size Worth $238.89 Billion by 2030 | CAGR: 9.9%

Overview

In pharmaceutical packaging, covering plays a vital role. In the case of medicines, the packaging is an integral part of the marketing mix and is critically affiliated with the application, product feature, and shelf life. The packaging of drugs is first on the list as it prevents the product from damage, bacteria, germs, and the outer atmosphere. Pharmaceutical packaging includes aluminum foils, containers, bottles, injectables, cartons, lamitubes, paper boards, and PVC based mergers.

Packaging in the pharmaceutical industry differs from drug to drug, and usually, there are three levels of packaging, generally referred to as primary, secondary, and tertiary packaging. Primary packaging is the material that initially covers the product and holds it. The packaged components and sub-components blend with the product and directly impact the shelf life of the product. The secondary packaging system is a level higher to the primary packaging and is utilized to direct group packages together. Tertiary packaging systems are used in shipping and bulk handling.
According to the research report, the global pharmaceutical packaging market size & share was valued at USD 103.18 billion in 2021 and is expected to reach USD 238.89 Billion by 2030, growing at a CAGR of 9.9% during the forecast period.

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Pharmaceutical packaging market: Growth leading factors

The market is anticipated to witness significant growth during the forecast period. The development is because of advanced manufacturing procedures to advance eco-friendly and sustainable packaging solutions, product innovation, and mergers and acquisitions to reinforce new demands. Additionally, a paramount growth in the penetration of retail pharmacies in regions that are underdeveloped and growing concentration on product differentiation and brand advancement by pharmaceutical producers will catapult the market growth. Packaging products are frequently utilized for storing liquids, solids, and semi-solids forms of formulations.

Competitive Insight

Some of the major players operating in the global market include Amcor Plc, Aptargroup, Inc., Becton, Dickinson and Company, Berry Global Inc., Catalent, Inc., CCL Industries, Inc., Comar, LLC, Drug Plastics Group, Gerresheimer AG, International Paper, Nipro Corporation, Owens Illinois Inc., Schott AG, Silgan Holdings Inc., Stevanato Group, Vetter Pharma International, West Pharmaceutical Services, Inc., and Westrock Company.

Regional analysis

North America accounted for the most significant share because of high purchasing power, supplementary to growth in the adoption rate of smart and progressive packages. Additionally, the US accounted for causing the most significant share and is anticipated to resume the trend during the forecast period. The US is a progressive drug-producing sector that capitalizes on new experienced therapies with exclusive packaging requirements.

Key segmentation

By materials, plastics and polymers accounted for the largest revenue share. Several kinds of plastic resins, including PE, PET, PP, PVC, PS, and bioplastic, are broadly used for manufacturing pharmaceutical vials, bottles, syringes, closures, and pouches.

By product, the primary segment accounted for the largest share as primary packaging like tubes, bottles, and blister packs have dealings with drugs, thereby enveloping the drug and safeguarding it from contamination.

By end-use, the pharma manufacturing segment is reckoned for the largest revenue share and is anticipated to witness robust growth due to the growing demand for medicines.

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Covid-19 Impact

Ensuing the covid-19 pandemic outbreak, top pharmaceutical and biotechnology companies are occupied with developing vaccines for the disease. Therefore, there is a sharp spike in demand because of the increased covid-19 vaccine production by companies.

Recent developments

In September 2021, Uflex initiated its new innovative patented BOPET high barrier film F-UHB-M, intended to restore aluminum foil in flexible packaging applications. To be manufactured in flex films Kentucky plant and supplied worldwide. This product labels the Converting industry's provocations that have depended long on aluminum files for packaging despite many restrictions, including material accessibility, weak integrity, and high material costs.

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Pharmaceutical packaging market: By materials
• Plastics & Polymers
o Polyvinyl Chloride
o Polypropylene
o PET
o PE
o PS
o Others
• Paper & Paperboard
• Glass
• Aluminum Foil
• Others

Pharmaceutical packaging market: By product
• Primary
o Plastic Bottles
o Caps & Closures
o Parenteral Containers
o Blister Packs
o Prefillable Inhalers
o Pouches
o Medication Tubes
o Others
• Secondary
o Prescription Containers
o Pharmaceutical Packaging Accessories
• Tertiary

Pharmaceutical packaging market: By end-use
• Pharma Manufacturing
• Contract Packaging
• Retail Pharmacy
• Institutional Pharmacy

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