Press release
Pharmaceutical Contract Packaging Market Report 2024: Size, Share, Growth, Trends, Forecast 2033
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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