Pharmaceutical Packaging Market Size, Share and Industry Analysis Report by Material (Plastics & Polymers [Polyvinyl Chloride, Polypropylene, Polyethylene Terephthalate, Polyethylene, Polystyrene, Others], Paper & Paperboard, Glass, Metal, Others) and Pro

Pharmaceutical Packaging Market Size, Share and Industry Analysis Report by Material (Plastics & Polymers [Polyvinyl Chloride, Polypropylene, Polyethylene Terephthalate, Polyethylene, Polystyrene, Others], Paper & Paperboard, Glass, Metal, Others) and Product (Plastic Bottles, Caps & Closures, Parenteral Containers, Blister Packs, Pouches, Medication Tubes, Prescription Container, Pharmaceutical Packaging Accessories), Regional Outlook, Application Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The pharmaceutical packaging market is anticipated to unlock tremendous growth by 2028 on the back of increasing global healthcare expenditures, expanding pharmaceutical industry, and ongoing efforts to strengthen the world’s healthcare infrastructure. Advancements in drug delivery systems and product innovations will also fuel overall business outlook over the forecast timeframe.

Increasing focus on sustainable packaging has also driven numerous innovative developments such as industry player Drug Plastics Group’s latest Pop & Click™ cylinder packaging. Pop & Click™ is considered to be a groundbreaking child resistant closure (CRC) system with increased packaging sustainability and considerable benefits in pharmaceutical packaging.

The global pharmaceutical packaging market is bifurcated into different segments in terms of material, product, and region.

Based on material, the overall industry is segmented into plastics & polymers, glass, metal, paper & paperboard, and others. The plastics & polymers class of materials is further bifurcated into polypropylene (PP), PS, PET, polyvinyl chloride (PVC), PE, and others.

Among these, the PVC-based pharmaceutical packaging segment is expected to grow rapidly at around 6.4% CAGR throughout the forecast timeline.

In 2021, polypropylene segment was valued at more than $6.3 billion, with forecasts estimating it to witness notable growth. The PET segment is projected to grow at a CAGR of approximately 7.2% over the study period.

Polyethylene packaging category is estimated to be valued at $14.0 billion by the end of 2028. Meanwhile, the Polystyrene segment anticipated to exhibit growth of around 6.8% CAGR over the forecast period.

In 2021, the others plastics & polymers segment was valued at around $6.5 billion.

The metal material segment is slated to exhibit an impressive double-digit CAGR of approximately 45.8% through the analysis time period. In 2021, other materials segment valued at $7.9 billion.

With regards to product, the pharmaceutical packaging market is fragmented into plastic bottles, blister packs, pharmaceutical packaging accessories, caps & closures, medication tubes, parenteral containers, prescription container, pouches, and others.

Among these, the caps & closure category is likely to witness sustainable growth at nearly 6.0% CAGR during the study timeline.

In 2021, blister packs gained significant momentum in the pharmaceutical sector and accounted for 12.5% of the total market share. Prescription containers are growing at a rapid pace anticipated to hold 3.2% share of the global marketspace by 2028.

The medication tubes sub-segment is expected to showcase CAGR growth of about 5.8% over the forecast years, whereas the pouches category is likely to unfold considerable growth at approximately 5.0% CAGR through the forecast time period.

Pharmaceutical packaging accessories are deeply penetrated into the pharma industry and account for a significant market share. The category is poised to grow at a CAGR of around 6.0% throughout the forecast timeline.

Increasing popularity of the items covered under the others product segment will secure segmental growth, allowing it to account for approximately 7.4% of total market share by 2028.

From regional perspective, the constantly expanding Middle Eastern & Africa pharmaceutical packaging market is slated to expand at about 5.3% CAGR during the forecast period.

In 2021, the Latin America pharmaceutical packaging market accounted for an industry share of more than 5.1%, with projections expecting it to continue the trend and growing at a CAGR of 5.5% during the assessment period.