Pharmaceutical Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Pharmaceutical Packaging Market
The Pharmaceutical Packaging market size was valued at USD 105.01 billion in 2023, and the market is now projected to grow from USD 110.55 billion in 2024 to USD 176.94 billion by 2032, exhibiting a CAGR of 8.9% during the forecast period of 2024-2032.
Several industries were distressed from Covid-19 and there have been shortages of uncooked substances and disruptions in supply chains. Nevertheless, pharmaceutical carrier companies have been exempted from the lockdown exceptions, as their functions are related to the community. The industry of prescription drugs changed into strolling to manufacturing healthcare products, and the authorities support for drug treatments and general pills increasing the market boom. Further, the properly-set up players within the Pharmaceutical Packaging market growth have also automatic their operations that allows you to meet the developing demand for COVID-19-related pills packaging.
Due to their low cost, the expanding generic drug in the developing countries is an important factor that will motivate the demand for Pharmaceutical packaging market share. A generic drug is an equivalent pharmaceutical that has the same composition, mode of action, dosage, associated side effects, and routes of administration. Many companies nowadays are expanding into the production of generics which helps to lower the cost of medical treatments. The packaging of generic drugs as they are essential for storing drugs as well as transporting. Consequently, the increasing sales of generic drugs will contribute to an increase in the product’s consumer base.
The demand for pharmaceutical packaging grows as drug delivery systems are enhanced. Formulation of advanced medication and packaging innovation go hand in hand, which in turn, help precise dosing and successful outcomes. Pre-filled syringes and in-halers replace syringes and doses of vaccine, which cannot be affected by contamination, and enhance patient compliance. An aging population with an increasing number of health problems also acts as a driver of growth for organic food products.
Comprehensive Analysis of Pharmaceutical Packaging Market
The Pharmaceutical Packaging market and Pharmaceutical industry is rising at an exponential rate due to its market segmentation.. These segmentations are methodically segregated by Material Analysis, by Product Type Analysis, by Packaging Type Analysis and by Drug Delivery Mode Analysis. The Material Analysis includes paper & paperboard, plastics, metal, glass, and others. The Product Type Analysis includes bottles, bags & pouches, caps & closures, pre-fillable inhalers, jars & canisters, pre-fillable syringes, blister packs, vials & ampoules, cartridges, and others. The Packaging Type Analysis such as primary, secondary, and tertiary. The Drug Delivery Mode Analysis includes nasal drug delivery packaging, oral drug delivery packaging, injectable packaging, pulmonary drug delivery packaging, topical drug delivery packaging, transdermal drug delivery packaging, ocular drug delivery packaging, and others.
The North America region lead the Pharmaceutical Packaging market by benefitting a market size of USD 9.73 billion in 2023 due the boom of this region is owed to the hastily growing pharmaceutical enterprise. The developing demand for primary packaging merchandise, surging disease incidence, and growing healthcare spending are riding the market in this region.
The top players in the market play a crucial role in the Pharmaceutical industry assuring industrial prospectus growth and setting market standards. These players include, Amcor Plc (Switzerland), Gerresheimer AG (Germany), SCHOTT AG (Germany), Westrock (U.S.), AptarGroup, Inc. (U.S.), Berry Global, Inc (U.S.), NIPRO (Japan), CCL Industries Inc. (Canada), West Pharmaceutical Services (U.S.), SGD Pharma (France), Ardagh Group S.A. (Luxembourg), International Paper (U.S.), Comar LLC (U.S.), Vetter Pharma (Germany), Nolato AB (Sweden), Origin Pharma Packaging (U.K.), Huhtamäki Oyj (Finland), Parekhplast India Limited (India), Regent Plast Pvt. Ltd. (India), Graham Blow Pack Pvt. Limited (India), Becton Dickinson and Company (U.S.) these market players provide a level-playing competitive landscape.
In May 2023, Bormioli Pharma (a major player in glass & plastic pharmaceutical packaging) announced the introduction of a new label – EcoPositive. Such label launch as this one is favorable for the company’s entire line of sustainable packaging. Furthermore, it includes recycled glass, plastics, bio-based or compostable solutions, and practical polymer products.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.06% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Material
Plastic
Glass
Metals
Paper & Paperboard
Others
By Product Type
Bottles
Caps & Closures
Pre-Fillable Inhalers
Pre-Fillable Syringes
Vials & Ampoules
Blister Packs
Bags & Pouches
Jars & Canisters
Cartridges
Others
By Drug Delivery Mode
Oral Drug Delivery Packaging
Injectable Packaging
Topical Drug Delivery Packaging
Pulmonary Drug Delivery Packaging
Transdermal Drug Delivery Packaging
Ocular Drug Delivery Packaging
Nasal Drug Delivery Packaging
Others
By Packaging Type
Primary
Secondary
Tertiary
By Region
North America (By Material, By Product Type, By Drug Delivery Mode, By Packaging Type, and Country)
- U.S. (By Product Type)
- Canada (By Product Type)
Europe (By Material, By Product Type, By Drug Delivery Mode, By Packaging Type, and Country)
- Germany (By Product Type)
- France (By Product Type)
- U.K. (By Product Type)
- Italy (By Product Type)
- Spain (By Product Type)
- Russia (By Product Type)
- Rest of Europe (By Product Type)
Asia Pacific (By Material, By Product Type, By Drug Delivery Mode, By Packaging Type, and Country)
- China (By Product Type)
- India (By Product Type)
- Japan (By Product Type)
- Australia (By Product Type)
- Southeast Asia (By Product Type)
- Rest of Asia Pacific (By Product Type)
Latin America (By Material, By Product Type, By Drug Delivery Mode, By Packaging Type, and Country)
- Brazil (By Product Type)
- Mexico (By Product Type)
- Rest of Latin America (By Product Type)
Middle East & Africa (By Material, By Product Type, By Drug Delivery Mode, By Packaging Type, and Country)
- GCC (By Product Type)
- South Africa (By Product Type)
- Rest of Middle East & Africa (By Product Type)