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Pharmaceutical Contract Packaging Market 2024-2033: Competitor Assessment, Industry Size And Major Players
Pharmaceutical Contract Packaging Market
Pharmaceutical Contract Packaging Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $25.61 billion In 2028 At A CAGR Of 8.3% :
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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Pharmaceutical Contract Packaging Market Major Segments
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
Key Driver - Pharmaceutical Contract Packaging Market Soars Amidst The Rise In Elderly Populations
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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Prominent Trend - Technological Advancements Redefine The Landscape Of Pharmaceutical Contract Packaging
Technological innovation is a key trend gaining popularity in the pharmaceutical contract packaging market. Major players in the pharmaceutical contract packaging industry are concentrating on creating new technological advancements to improve their market share. For instance, in November 2022, Gerresheimer AG, a Germany-based drug delivery systems company, and Stevanato Group, an Italy-based drug containment, drug delivery and diagnostic solutions company, launched EZ-fill Smart. The EZ-fill Smart technology provides a proven seamless integration with standard fill & finish operations. The platform also accommodates both small and large batch production. The EZ-fill Smart is a solution that is designed to improve drug packaging quality, reduce total cost of ownership (TCO), and shorten lead times for customers and helps in implementing a new eco-friendly sterilization method, and using biopolymers and recycled plastic.
Pharmaceutical Contract Packaging 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
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Largest And Fastest Growing Region In The Market
North America was the largest region in the pharmaceutical contract packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the pharmaceutical contract packaging market report during the forecast period. The regions covered in the pharmaceutical contract packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pharmaceutical Contract Packaging Market Report Structure
3. Pharmaceutical Contract Packaging Market Trends And Strategies
4. Pharmaceutical Contract Packaging Market - Macro Economic Scenario
5. Pharmaceutical Contract Packaging Market Size And Growth
…..
27. Pharmaceutical Contract Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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