The global pharmaceutical packaging market size is estimated to arrive at USD 219.2 billion by 2028. It is projected to develop by 9.4% CAGR in the period of the forecast.
The growing occurrence of the chronic sicknesses together with the enlargement of the pharmaceutical manufacturing is expected to increase the utilization of packaging products, sequentially, boosting the market for the pharmaceutical packaging.
Prohibition on fake products in Europe and North America is likely to be the most important impeller for the market because the major companies are expected to provide heavy funding for anti-counterfeit packaging products. Hence, the rising demand for the anti-counterfeiting packaging together with the arrival of technology is likely to prop up the enlargement of tamper evident pharmaceutical packaging.
Because of the increasing concerns, regarding the generation of packaging garbage, which is hard to decompose, the pharmaceutical manufacturing companies are concentrating on utilizing the sustainable materials for packing.
Bioplastics is expected to increase its grip in the market since; it is resulting from the renewable plant originating resources and is eco-friendly. Whereas, the fossil fuel sourced plastics & polymers are not recyclable materials.
A Germany origin packaging manufacturing company, Sanner GmbH, launched bio sourced bubbly tablet wrapping, in December 2019. It was resulting from the sugarcane and corn. Such type of innovative sustainable packing resolutions is anticipated to increase the expansion of the pharmaceutical packaging market.
The eruption of Covid-19 pandemic has considerably augmented the demand for a variety of medicines, globally, thus boosting the demand for medicinal products and so for the pharmaceutical packaging products.
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Further key findings from the report suggest:
• The Asia Pacific is expected to be the highest rising section, throughout the forecast period. This enlargement is a result of the speedily increasing pharmaceutical market, chiefly in India and China, in addition to increasing cases of a variety of sicknesses, like heart problems and cancer
• Solid opposition to the chemicals as well as to diverse medical products plus the capability to bear up heat treatment for the duration of the sterilization procedure, is anticipated to enlarge the infiltration of the packing material, manufactured using glass, in the market for pharmaceutical packaging
• In 2020, the contract packing sector held 36.4% revenue share of the market. The regulatory necessities linked with the pharmaceuticals as well as their wrapping are slowly turning in to strict rules. The contract packaging companies are in a healthier position, to deal with those alterations. This reason is increasing the demand for contract packaging services
• The glass section of the market, is expected to rise by the maximum CAGR, in terms of the revenue, during the forecast period
Million Insights segmented the global pharmaceutical packaging market based on End Use, Product, Material, and Region.
Pharmaceutical Packaging Material Outlook(Revenue, USD Million, 2017 - 2028)
• Plastics & Polymers
• Polyvinyl Chloride (PVC)
• Polypropylene (PP)
• Paper & Paperboard
• Aluminum Foil
Pharmaceutical Packaging Product Outlook(Revenue, USD Million, 2017 - 2028)
• Plastic Bottles
• Caps & Closures
• Parenteral Containers
• Blister Packs
• Prefillable Inhalers
• Medication Tubes
• Prescription Containers
• Pharmaceutical Packaging Accessories
Pharmaceutical Packaging End-use Outlook(Revenue, USD Million, 2017 - 2028)
• Pharma Manufacturing
• Contract Packaging
• Retail Pharmacy
• Institutional Pharmacy
Pharmaceutical Packaging Regional Outlook(Revenue, USD Million, 2017 - 2028)
• North America
• Asia Pacific
• South Korea
• Central & South America
• Middle East & Africa (MEA)
Various companies for pharmaceutical packaging market are:
• Vetter Pharma International
• Comar, LLC
• SGD Pharma
• Berry Global, Inc.
• Owens Illinois, Inc.
• Gerresheimer AG
• AptarGroup, Inc.
• Amcor plc
• CCL Industries, Inc.
• International Paper
• West Rock Company
• West Pharmaceutical Services, Inc.
• Schott AG
• Drug Plastics Group
• Becton, Dickinson, and Company