Regulatory Compliance and Healthcare Growth Propel Pharmaceutical Packaging Industry to USD 149.8 Billion by 2034

The pharmaceutical packaging market is estimated to be worth USD 108.9 billion in 2024 and is projected to be USD 149.8 billion in 2034. Between 2024 and 2034, the industry is expected to expand at a CAGR of 3.2%.

The continuous rise in global healthcare expenditure, coupled with the growing demand for pharmaceuticals driven by aging populations and the prevalence of chronic diseases, is a primary driver. As healthcare needs escalate, pharmaceutical production increases, necessitating advanced packaging solutions.

Stringent regulatory requirements imposed by health authorities worldwide play a pivotal role in the pharmaceutical packaging market. Regulations ensure product safety, traceability, and adherence to quality standards, compelling pharmaceutical companies to invest in compliant packaging solutions.

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Ongoing advancements in packaging technologies contribute to market growth. Innovations such as smart packaging, track-and-trace systems, and tamper-evident features enhance product security, improve patient safety, and address counterfeiting concerns.

The increasing production of generic drugs, prompted by patent expirations of branded medications, fuels the demand for pharmaceutical packaging. The anticipated surge in global pharmaceutical production and consumption is poised to drive significant growth in pharmaceutical packaging sales over the projected period. The growing emphasis on safeguarding drugs against spoilage, breakage, and leakage is expected to contribute to the rapid expansion of the pharmaceutical packaging market.

The array of pharmaceutical packaging products encompasses items such as bottles, vials, ampoules, bags, blisters, pouches, containers, sachets, tubes, trays, and prefilled syringes. These diverse packaging solutions play a vital role in significantly extending the shelf life of medicines, shielding them from moisture, air, chemicals, and microbial growth.

Key Takeaways:

• From 2019 to 2023, the pharmaceutical packaging market was valued at a CAGR of 6.9%
• Based on product type, the bottles segment is expected to account for a share of 33.4% in 2024.
• Global pharmaceutical packaging demand in China is predicted to account for a CAGR of 7.5% in 2024.
• In the United States, the pharmaceutical packaging industry is expected to account for a CAGR of 5.6% in 2024.
• Germany is projected to expand by a value CAGR of 5.8% between 2024 and 2034.
• Pharmaceutical packaging market in India is anticipated to record a CAGR of 7.9% in 2024.
• The adoption of advanced packaging technologies, such as smart packaging, track-and-trace systems, and anti-counterfeiting measures, is on the rise in Japan.

"The rapid growth of the pharmaceutical industry and increasing focus on ensuring the protection of drugs from spoilage, breakage, and leakage is anticipated to drive the market growth during the forecast period." Says Future Market Insights (FMI).

Pharmaceutical Packaging Market Growth Driver

• The anticipated surge in global pharmaceutical production and consumption is poised to drive robust sales in the pharmaceutical packaging sector throughout the projected period.
• Growing emphasis on safeguarding drugs against spoilage, breakage, and leakage is expected to contribute significantly to the rapid growth of the pharmaceutical packaging market.
• The increasing healthcare expenditure is expected to drive the pharmaceutical packaging market.
• The growing aging population, the prevalence of chronic diseases, and advancements in medical research and technology directly influences the demand for pharmaceutical packaging.
• The increasing production of generic drugs, driven by patent expirations of branded drugs, contributes to the growth of the pharmaceutical packaging market

Pharmaceutical Packaging Market Key Challenges

• Ensuring the integrity of the supply chain and implementing effective anti-counterfeiting measures in packaging is a constant challenge to protect both pharmaceutical companies and consumers.
• Packaging materials and components may come from various regions, and coordinating the supply chain to ensure timely and efficient delivery of packaging materials can be challenging.
• Finding environmentally friendly packaging solutions that meet regulatory requirements and maintain product integrity can be challenging.
• Implementing innovative packaging solutions, such as smart packaging and digital technologies, can be challenging due to cost considerations and the need for seamless integration into existing processes.

Competitive Landscape

The market players are investing in and adopting advanced packaging technologies, such as smart packaging, RFID (Radio-Frequency Identification), and QR codes, to enhance product security, traceability, and patient engagement.

• Amcor Plc is a global packaging company that provides a wide range of packaging solutions, including pharmaceutical packaging. Amcor focuses on sustainable packaging solutions, and has made commitments to address environmental concerns. The company invests in research and development to introduce innovative packaging technologies. Amcor often expands its product portfolio through acquisitions and partnerships.
• Ardagh Group S.A. is a multinational packaging company involved in metal and glass packaging, including pharmaceutical packaging solutions. Ardagh emphasizes sustainability in its operations and product offerings. The company explores strategic acquisitions and partnerships to expand its market presence and capabilities.

Key Companies in the Market

• Amcor Plc.
• Ardagh Group S.A.
• Berry Global Group, Inc.
• Bilcare Limited
• Catalent, Inc.
• Clondalkin Group Holdings B.V.
• Constantia Flexibles Group GmbH
• Gerresheimer AG
• Klöckner Pentaplast Group
• Mondi Group

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Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global pharmaceutical packaging market, providing historical data from 2019 to 2023 and forecast statistics between 2024 and 2034.

Market Segmentation

By Product Type:

• Bottles
• Vials & Ampoules
• Blisters
• Bags & Pouches
• Prefilled syringes & cartridges
• Sachets
• Trays
• Tubes
• Containers, Jars & Others

By Material Type:

• Plastics
• Glass
• Metals
• Paper

By Drug Delivery:

• Ophthalmic
• Injectable
• IV Drugs
• Nasal
• Wound Care
• Pulmonary
• Oral
• Others (Topical and Transdermal)

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa (MEA)
• Europe

Have a Look at Another Post on the Packaging Domain:

Glass Container Market - https://www.fmiblog.com/2024/08/13/glass-container-market-is-projected-to-grow-at-a-strong-cagr-of-3-4-from-2024-to-2034-future-market-insights-inc/

Micro Perforated Films Packaging Market - https://www.fmiblog.com/2024/10/01/micro-perforated-films-packaging-market-is-expected-to-reach-a-high-valuation-of-usd-2-28-billion-by-2033-fmi/

Disposable Cups Market - https://www.fmiblog.com/2024/10/01/disposable-cups-market-is-supposed-to-rise-at-a-cagr-of-6-2-through-2033-future-market-insights-inc/

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.