Pharmaceutical Packaging Market Outlook On The Basis Of Material, Product, End Use, Region And Forecast From 2021 to 2030: Grand View Research Inc.

San Francisco, 26 Apr 2022: The Report Pharmaceutical Packaging Market Size, Share & Trends Analysis Report By Material (Plastics & Polymers, Glass), By Product (Primary, Secondary), By End Use, By Region, And Segment Forecasts, 2021 – 2030

The global pharmaceutical packaging market size is expected to reach USD 265.5 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.5% from 2021 to 2030. The increasing prevalence of chronic diseases, coupled with the growth of the pharmaceutical industry, is anticipated to augment the consumption of pharmaceutical packaging products.

Ban on counterfeit products in North America and Europe is expected to be a major driver for the market as major companies are likely to invest significantly in anti-counterfeit packaging products. Blow-Fill-Seal (BFS) technology allows customized design for high-quality containers with tamper-evident closures in multiple shapes and sizes. Therefore, the growing demand for anti-counterfeiting packaging, along with the advent of technology, is likely to support the growth of tamper-evident pharmaceutical packaging.

Companies are focusing on using sustainable materials for packaging owing to the rising concerns over the generation of packaging waste that is difficult to degrade. Bioplastic is likely to gain traction in the market as it is derived from renewable plant-based sources and is biodegradable unlike the plastics and polymers derived from fossil fuels. In December 2019, Sanner GmbH, a Germany-based packaging manufacturer, introduced BioBase effervescent tablet packaging derived from corn and sugarcane. Such novel sustainable packaging solutions are expected to boost the growth of the market.

Pharmaceutical manufacturers are likely to prefer blister packaging for tablets and capsules as these are more sustainable with minimal usage of packaging material as compared to rigid bottles. In addition, the transparency of blister packs provides a clear product display and provides tamper-resistant features. The outbreak of COVID-19 has significantly increased the demand for various pharmaceutical drugs across the world, thereby propelling the demand for pharmaceutical manufacturing and their packaging. Rapid development and production of the vaccine in the year 2020 are anticipated to increase pharmaceutical manufacturing considerably, primarily benefitting the manufacturers of packaging vials in the near future.

Market players have been trying to increase their production capabilities as well as expand their geographic reach. In addition, companies are introducing and investing in high-tech packaging solutions with the changing environment. For instance, in April 2020, Schott AG introduced smart containers, which are laser-marked with a unique identifier to create robust traceability throughout the manufacturing process. Companies are expected to invest significantly in such developments in the coming years to strengthen their market position.

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Pharmaceutical Packaging Market Report Highlights

• In terms of revenue, the glass material segment is projected to expand at the highest CAGR of 10.2% over the forecast period. Strong chemical resistance to various medicinal products and the ability to withstand heating treatment during the sterilization process is expected to expand the penetration of glass packaging
• The contract packaging end-use segment is expected to witness the fastest growth over the forecast period. Regulatory requirements associated with pharmaceuticals and their packaging are gradually becoming stringent, and contract packaging organizations are in a better place to address those changes. This factor is boosting the demand for contract packaging services
• Asia Pacific is projected to be the fastest-growing regional market from 2021 to 2030. This growth is due to the rapidly expanding pharmaceutical market, particularly in China and India, and rising cases of various diseases, such as cancer and heart problems

List of Key Players of Pharmaceutical Packaging Market

• Amcor plc
• Becton, Dickinson, and Company
• AptarGroup, Inc.
• Drug Plastics Group
• Gerresheimer AG
• Schott AG
• Owens Illinois, Inc.
• West Pharmaceutical Services, Inc.
• Berry Global, Inc.
• WestRock Company
• SGD Pharma
• International Paper
• Comar, LLC
• CCL Industries, Inc.
• Vetter Pharma International

Access Press Release of Pharmaceutical Packaging Market @ https://www.grandviewresearch.com/press-release/global-pharmaceutical-packaging-market

Pharmaceutical Packaging Market Value To Reach USD 158.24 Billion By 2025 : Grand View Research Inc.

San Francisco, 3 October 2019: The Report Pharmaceutical Packaging Market Size, Share & Trends Analysis Report By Material (Plastics & Polymers, Paper & Paperboard), By Product (Primary, Secondary), By End Use, And Segment Forecasts, 2019 – 2025

The global pharmaceutical packaging market size is expected to reach USD 158.24 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 8.3% during the forecast period. The market is driven by increasing consumption of pharmaceutical packaging materials in emerging economies, most notably in China, Brazil, and India. This is in reaction to increasing government spending on healthcare infrastructure in these countries.

The market has been witnessing significant demand for pharmaceutical packaging in African countries. Though the industry is yet to achieve its full potential in Africa, the region promises considerable growth over the forecast period owing to economic developments in countries such as South Africa and Nigeria. Sub-Saharan Africa, in particular, is expected to bolster the demand for pharmaceutical packaging products throughout the forecast period backed by significant economic development. Emerging economies across the globe have encouraged international players to setup their manufacturing plants on the back of rising pharmaceutical exports in the aforementioned countries.

Another significant factor triggering the demand for pharmaceutical packaging materials is the increasing demand for blister packaging and drug delivery devices. In this respect, the emergence of novel drug delivery systems with unique forms (patches and rings) has necessitated the employment of pharmaceutical packaging materials across the globe. In addition, the market is driven by the increasing demand for blister packaging solutions for the packaging of drug items/products. The employment of blister packaging materials helps extend the shelf life of pharmaceutical products while offering enhanced clarity/transparency in packages.

North America emerged as the largest market for pharmaceutical packaging in 2018, with a revenue of USD 35.11 billion. The region is expected to retain its prominent position over the forecast period and claim a share of 33% by 2025. U.S. has been a leading regional market and has been witnessing exponential growth. Mexico is a major production site for large pharmaceutical companies. The emergence of Mexico as a sourcing destination for domestic companies looking to manufacture and sell complex, especially manufactured products is expected to boost pharmaceutical industry growth in the region. This, in turn, is likely to drive the product demand over the forecast period.

The pharmaceutical packaging market is highly fragmented with both domestic and international players sharing the market space. However, it is led by the players such as Amcor Ltd.; Becton, Dickinson & Company; Aptar Group Inc.; Capsugel Inc.; Gerresheimer AG; Schott AG;Owens Illinois Inc.; West Pharmaceutical Services Inc.; Berry Plastics Group Inc.; Westrock Company; andSGD SA among others. Product innovation, portfolio expansion, and mergers and acquisitions were observed to be some of the most preferred strategies by these players to stay abreast of the competition.

Access Research Report of Pharmaceutical Packaging Market @ www.grandviewresearch.com/industry-analysis/pharmaceutical-packaging-market

Further key findings from the report suggest:

• In terms of material, plastics and polymers held the leading market share of 38% in 2018. Plastics and polymers are being considered as ideal packaging materials by pharmaceutical companies owing to their advantages such as the availability of various types of quality and ease of manufacturing
• In terms of product, primary pharmaceutical packaging is expected register the fastest CAGR of 8.6% over the forecast period. Demand for primary packaging is driven by the increasing consumption of protein-based, biotechnologically manufactured medications, highly viscous or low-dosage drug formulations, and a series of oncologic and ophthalmologic medications
• In terms of end use, contract packaging is expected to register the fastest CAGR of 9.1% over the forecast period. Market players have been focusing on increasing the outsourcing of packaging activities to save on time and various expenses
• Asia Pacific is expected to witness the fastest CAGR of 12.2% over the forecast period. Tremendous growth in population coupled with a steady economic growth in countries such as China, India, and Japan is contributing to the regional growth
• The pharmaceutical packaging market has been witnessing intense rivalry among key participants in terms of product offerings, product innovation, and global presence

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Grand View Research has segmented the global pharmaceutical packaging market on the basis of material, product, end use, and region:

Pharmaceutical Packaging Material Outlook (Revenue, USD Million, 2014 – 2025)

• Plastics & Polymers
  • Polypropylene (PP)
  • Polyethylene (PE)
  • Polyethylene terephthalate (PET)
  • Polyvinyl chloride (PVC)
  • Polystyrene (PS)
  • Others
• Paper & Paperboard
• Glass
• Aluminum Foil
• Others

Pharmaceutical Packaging Product Outlook (Revenue, USD Million, 2014 – 2025)

• Primary Pharmaceutical Packaging
  • Plastic Bottles
  • Caps & Closures
  • Parenteral Containers
  • Blister Packs
  • Prefillable Inhalers
  • Pouches
  • Medication Tubes
  • Others
• Secondary Pharmaceutical Packaging
  • Prescription Containers
  • Pharmaceutical Packaging Accessories
• Tertiary Pharmaceutical Packaging

Pharmaceutical Packaging End Use Outlook (Revenue, USD Million, 2014 – 2025)

• Pharmaceutical Manufacturing
• Retail Pharmacy
• Contract Packaging
• Institutional Pharmacy
• Others

Pharmaceutical Packaging Regional Outlook (Revenue, USD Million, 2014 – 2025)

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

Access Press Release of Pharmaceutical Packaging Market @ www.grandviewresearch.com/press-release/global-pharmaceutical-packaging-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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