Latest Trends in India Pharmaceutical Packaging Market

The India Pharmaceutical Packaging Industry was estimated at $1.43 billion in 2020, and is anticipated to hit $3.02 billion by 2030, registering a CAGR of 7.54% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Advanced manufacturing processes to develop sustainable and eco-friendly packaging solutions, rise in product innovations to support new demands, emerging generic drug market and rapidly growing drug delivery market, upsurge in R&D activities, and use of innovative packaging drive the growth of the India pharmaceutical packaging market. On the other hand, volatility of prices in raw materials and strict government regulations & standards impede the growth to some extent. However, rise in patient-oriented medicines including biologics is anticipated to pave the way for lucrative opportunities in the industry.

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Covid-19 scenario-

The nationwide lockdown, government regulations, and continuous increase in infection rate across the country gave way to widespread financial impact on the packaging market, especially during the initial phase. The pharma companies were at stake, as the logistics chain for supplying cartridges, ampoules, and bottles was severely disrupted.

However, the pandemic has given way to rise in demand for sterile packaging in the market since the outbreak has created fear among consumers about the ability of the virus to stay alive in packaging surfaces. This, in turn, has created immense opportunities for the major players to cater to the demands of the market.

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The India pharmaceutical packaging market is analyzed across product type and material. Based on product type, the parenteral container segment accounted for nearly one-fifth of the total market share in 2020, and is expected to grow at the fastest CAGR by 8.80% from 2020 to 2030. The specialty bags segment is also discussed in the report.

Based on material, the plastics and polymers segment contributed to the major share in 2020, holding more than two-thirds of the total market. The glass segment, on the other hand, would cite the fastest CAGR of 9.50% from 2020 to 2030.

The key market players analyzed in the India pharmaceutical packaging market report include Amcor Plc., West Pharmaceutical Packaging India Pvt. Ltd., APTAR GROUP INC., Uflex Limited, Huhtamaki PPL Ltd., Nipro Corporation, Schott Pharmaceutical Packaging, SGD Pharma India Ltd., Parekhplast India Limited, and Essel Propack Ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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