Worldwide Demand for Pharmaceutical Packaging Is Extrapolated To Rise at 9% CAGR by 2033

Worldwide demand for pharmaceutical packaging is extrapolated to rise at 9% CAGR from 2023 to 2033. The global pharmaceutical packaging market is currently valued at US$ 131 billion and is forecasted to reach US$ 310.5 billion by the end of 2033.

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High focus on health and rising healthcare expenditure are prominent factors that are expected to promulgate the sales of pharmaceutical packaging products over the coming years. Increasing penetration of retail pharmacies around the world has bolstered the need for brand recognition among pharmaceutical manufacturers and this is projected to be a key factor driving the sales of custom medicine packaging products over the coming years.

Ubiquity of Chronic Ailments Driving Demand for Pharmaceuticals Packaging Industry

The ubiquity of chronic ailments is driving the demand for pharmaceuticals packaging industry. Chronic ailments such as diabetes, heart disease, and cancer are on the rise, and this is leading to an increased demand for pharmaceuticals packaging. Pharmaceuticals packaging is essential for ensuring the safety and efficacy of medications, as well as for providing convenience and ease of use. The pharmaceuticals packaging industry is responding to this increased demand by developing innovative packaging solutions that are tailored to the needs of patients and healthcare providers.

These solutions include tamper-evident seals, child-resistant closures, and unit-dose packaging. Additionally, the industry is investing in research and development to create more efficient and cost-effective packaging solutions. As a result, the pharmaceuticals packaging industry is expected to experience significant growth in the coming years.

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Competitive Landscape

Top pharmaceutical packaging companies are focusing on launching new products that are in accordance with the new sustainability trends to enhance their brand image and propel revenue generation capacity.

• In April 2022, Amcor, a leading name in the packaging industry announce the launch of its new products to its sustainable pharmaceutical packaging portfolio. The company launched new High Shield laminates that provide a high barrier and are recyclable to meet the changing demands.

Key Companies Profiled:

• Amcor Plc
• WestRock Company SGD S.A.
• COMAR LLC
• Vetter Pharma International
• Drug Plastics Group
• Gerresheimer AG
• West Pharmaceutical Services Inc.
• Becton Dickinson & Company
• International Paper Company
• AptarGroup Inc.
• Schott AG
• Owens Illinois Inc.

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Key Segments:

• By Material :

o Plastics & Polymers

 Polypropylene (PP)
 Polyethylene (PE)
 Polyethylene Terephthalate (PET)
 Polyvinyl Chloride (PVC)
 Polystyrene (PS)
 Others

o Paper & Paperboard
o Glass
o Aluminum Foil
o Others

• By Product Type :

o Primary

 Plastic Bottles
 Caps & Closures
 Parenteral Containers
 Blister Packs
 Prefillable Inhalers
 Pouches
 Medication Tubes
 Others

o Secondary

 Prescription Containers
 Pharmaceutical Packaging Accessories

o Tertiary

• By Application :

o Pharmaceutical Manufacturing
o Retail Pharmacies
o Contract Packaging
o Institutional Pharmacies
o Others

• By Region :

o North America
o Latin America
o Europe
o APAC
o MEA

Questionnaire answered in the report include:

• How the industry has grown?
• What is the present and future outlook on the basis of region?
• What are the challenges and opportunities?
• Why the consumption in region?
• In which year segment is expected to overtake segment?

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This release was published on openPR.