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Pharmaceutical Contract Packaging Market 2024: Sizing, Demanding Trends, Top Companies, Growth Drivers, and a Strategic Forecast for 2033
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company presents an extensive market research report on the Pharmaceutical Contract Packaging Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The pharmaceutical contract packaging market size has grown strongly in recent years. It will grow from $29.32 billion in 2023 to $31.87 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increasing complexity of packaging regulations, need for rapid time-to-market, demand for specialized packaging solutions, globalization of pharmaceutical supply chains, cost savings and operational efficiency, flexibility in production scale..
The pharmaceutical contract packaging market size is expected to see strong growth in the next few years. It will grow to $43.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increased focus on sustainable packaging, demand for on-demand packaging services, customization and personalization trends, demand for child-resistant packaging, strategic investments in packaging infrastructure.. Major trends in the forecast period include serialization and track-and-trace compliance, technological advancements in packaging equipment, specialization in cold chain packaging, adherence packaging for patient compliance, personalized medicine packaging, investments in digitalization and industry 4.0..
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Key Market Players:
Major companies operating in the pharmaceutical contract packaging market report are Nipro Corporation, Daito Pharmaceutical Co Ltd., Pfizer CentreOne, Catalent Inc., WestRock Company, BALL CORPORATION, Berlin Packaging, CCL Industries Inc., Co-Pak Packaging Corporation, Signode India Limited, Ropack Pharma Solutions, Reelvision Print Limited, PCI Pharma Services, Multi-Pack Solutions LLC, Unicep Packaging Inc, Reed-Lane Inc., Aphena Pharma Solutions Holdings Inc., Southwest Packaging and Supply Corporation, AbbVie Inc., Almac Group Limited, AmeriPac Inc, Assemblies Unlimited Inc., CentralPharma, DaklaPack Filling & Packaging, DelobrisPharmaceuticals Limited, Elitefill Inc., Finishing Services Inc., Jones Packaging Inc., LABO S.R.L., MJS Packaging Inc., MPH Co-Packing LLC, Nelipak B.V., Pharma Packaging Solutions LLC, Sepha Limited, SternMaid GmbH
Market Drivers:
Growth in the number of elderly populations is expected to propel the growth of the pharmaceutical contract packaging market going forward. The elderly population refers to people aged 65 and over. The ageing population is driving manufacturers to develop packaging that is easier to open while remaining child-resistant, but this can increase costs and affect sustainability. For instance, according to the United Nations Department of Economic and Social Affairs' September 2020 report, the population aged 65 and older is projected to rise from 9.3% in 2020 to around 16.0% in 2050. Furthermore, according to an October 2021 factsheet published by the World Health Organization, there will be 1.4 billion individuals over the age of 60 in the world by 2030, up from 1 billion in 2020. As a result, the ageing population is fueling the expansion of the pharmaceutical contract packaging industry.
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The pharmaceutical contract packaging market covered in this report is segmented -
1) By Product: Primary Packaging, Secondary Packaging, Tertiary Packaging
2) By Material: Paper and Paperboard, Plastics and Polymers, Aluminum Foil, Glass, Other Materials
3) By Industry: Small Molecule, Biopharmaceutical, Vaccine
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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