Press release
Global Contract Pharmaceutical Packaging Market: 2023-2031 Growth Forecast & Trends
Global Contract Pharmaceutical Packaging Market Size 2031-2031
The Global Contract Pharmaceutical Packaging Market reached a value of US$ 5.9 billion in 2023 and is projected to grow to US$ 10.5 billion by 2031, with a CAGR of 7.5% from 2024 to 2031. This growth is driven by several factors including global economic expansion, an aging population, and the introduction of new pharmaceutical products. The pharmaceutical market's revenue reached US$ 1,265.2 billion in 2020 and continues to grow steadily. Many pharmaceutical companies are outsourcing packaging to contractors to boost earnings, further fueling market expansion.
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Market Dynamics
Increasing Demand for Injectable Pharmaceuticals
The demand for injectable medications is driving the growth of glass bottles in the pharmaceutical industry. This trend is supported by the robust market for cancer treatments and other high-potency medications like antibody conjugates, steroids, and IV fluids. The rising prevalence of diabetes, with over 422 million people affected globally, also contributes significantly to this demand. For example, in April 2021, Catalent expanded its biologics packaging capacity with a US$ 14 million investment in its Indiana facility.
Technological Advancements in Packaging
Technological advancements in packaging machinery and materials are shaping the global contract pharmaceutical packaging market. Innovations in automation, materials science, and sustainability are creating significant market opportunities. Modern packaging technology, including advanced robotic systems, electronic controls, and real-time monitoring, enhances precision, efficiency, and reduces human errors. For instance, in June 2020, PCI Pharma partnered with Experic to explore clinical and commercial manufacturing, packaging, and supply chain services.
Segment Analysis
Plastic & Polymer Dominance
Plastics and polymers are expected to dominate the market with over 30% share during the forecast period. Plastic bottles are preferred due to their lightweight, space-saving, and cost-efficient nature. For example, Aphena Pharma Solutions announced in January 2021 the construction of ten high-speed bottling lines, with plans to add 30 more lines to increase capacity to over 80 million bottles monthly.
Geographical Penetration
North America Leads the Market
North America holds over 35% of the global market share, driven by the presence of numerous contract packaging service providers. Investments in facility expansion, customer base growth, and geographic footprint are prominent strategies. For instance, in September 2020, Essentra Packaging acquired 3C! Packaging to strengthen its position in the pharmaceutical packaging industry.
Competitive Landscape
Key players in the market include Catalent Pharma Solutions, Aphena Pharma Solutions, ROPACK INC, Wasdell Packaging Group, Baxter BioPharma Solutions, AbbVie Contract Manufacturing, Pfizer CentreSource, Daito Pharmaceutical, Nipro Corporation, and Becton Dickinson & Company.
COVID-19 Impact Analysis
The pandemic increased demand for pharmaceuticals, necessitating contract packaging services for timely distribution. Regulatory flexibilities and expedited approvals supported the development and distribution of COVID-19 vaccines and treatments. Contract packaging facilities implemented safety measures to continue operations during the pandemic.
Russia-Ukraine War Impact
The conflict between Russia and Ukraine, both key players in the pharmaceutical supply chain, disrupts the availability and pricing of packaging materials. Transportation disruptions, export prohibitions, and trade restrictions cause global shortages and price instability, impacting contract packaging companies' ability to meet demand.
Key Developments
• December 2022: Nelipak Corporation opened a flexible packaging production facility in North Carolina.
• October 2022: Aphena Pharma Solutions completed a US$ 20 million expansion in Tennessee.
• October 2020: Alnylam Pharmaceuticals partnered with Sharp for packaging its RNAi therapeutic medicines for European markets.
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Market Segmentation
By Type
• Primary Packaging System
• Secondary Packaging System
• Tertiary Packaging System
By Raw Material
• Plastic & Polymers
• Glass
• Metals
• Paper & Board
• Rubber
• Cotton
• Others
By Application
• Transmucosal Drug Delivery Packaging
• Pulmonary Drug Delivery Packaging
• Nasal Drug Delivery Packaging
• Topical Drug Delivery Packaging
• Injectable Packaging
• Oral Drug Delivery Packaging
• Others
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