Pharmaceutical Packaging Market size is estimated to cross USD 233 Billion by the end of 2033, growing at a CAGR of 8% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of pharmaceutical packaging was around USD 108 Billion This can be attributed to the growing health concerns and the increased use of medicines worldwide. Further there has been rise in adoption of generic drugs which is also estimated to boost the growth of the market over the forecast period. Currently, 90% (9 out of 10) of all prescriptions written in the United States are for generic medications. Since it is necessary to pack and safeguard medications during storage and transportation, this packaging plays a significant part in the manufacturing of generic medications. Consequently, the use of pharmaceutical packaging would increase as the demand for generic medications rises.
Additionally, the manufacturing of novel drugs is also estimated to drive the market growth. The novel medicine packaging method has prefilled inhalers and syringes, which are single-dose vaccination units. The prefilled inhalers and syringes are made to prevent the packed medications from coming into direct touch with the patient or the environment, preventing contamination. By allowing for a self-administered metered dosage, it also decreases waste and increases patient compliance. Also, large number of pharmaceutical companies are shifting towards sustainable packaging owing to the growing concern for environment. They are extensively using recyclable materials and biodegradable packaging for packaging. One of the most extensively used material is polyethylene terephthalate by pharmaceutical companies. Hence owing to the rising adoption of sustainable packaging the market is estimated to boost further.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 108 Billion |
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Forecast Year Market Size (2033) |
~ USD 233 Billion |
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Regional Scope |
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Material (Plastic, Glass, Metal, Paper)
The global pharmaceutical packaging market is segmented and analyzed for demand and supply by material into plastic, glass, metal, paper, and others. Out of which the plastic segment is anticipated to hold the largest market share over the forecast period. The growth of this segment can be attributed to its growing preference for packaging of tablets and capsules. Further, they also extensively used for packing liquid dose like syrups, and nasal. Approximately 19% of the weight of all pharmaceutical packaging is currently made up of plastic. Plastics are a diverse set of rigid composite materials that are primarily organic and that could be cast, molded, or directly polymerized into form, typically by applying pressure and heat separately or in combination. They benefit from being light in weight, simple to process, break resistant, tamper proof, pilfer proof, and corrosion resistant. Hence their demand in pharmaceutical companies for packaging is estimated to boost.
Type (Primary, Secondary)
The global pharmaceutical packaging market is also segmented and analyzed for demand and supply by type into primary and secondary. Amongst these segments, the primary segment is anticipated to generate the largest revenue in the market. Primary packaging, often known as retail packaging or POS (Point-of-Sale) packaging, is the package that comes into direct touch with the product. Primary packaging's major goals are product preservation and consumer education. In order to shield the product from the environment, it is typically composed of materials that are impermeable to air, light, and moisture. It is foremost procedure in packaging of medicine and hence can’t be avoided. Therefore, owing to the growth of the segment is anticipated to increase.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Material |
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By Product Type |
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North American Market Forecast
The North American pharmaceutical packaging market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by reshoring of pharmaceutical manufacture in the region, the growth of production facilities, and partnerships between pharmaceutical companies and CMOs to boost the supply of medications. In addition, rising government spending on COVID-19-related medicines is driving up pharmaceutical packaging demand in North America. However, the market in Asia Pacific region is to grow faster over the forecast period. This is anticipated by growing spending on healthcare in this region. For instance, the APAC region's average healthcare benefit cost trend increased from about 5% in 2020 to approximately 10% in 2021 before falling to about 4% in 2022. Costs are anticipated to increase by an estimated 11% in 2023.Furthermore, the surging awareness related to the zero waste packaging in the pharma industry is further predicted to boost the market’s growth in the region.
Gerrsheimer AG has greatly increased the amount of glass and plastic it can produce in India. In the Kosamba location, a new cutting-edge facility was constructed to manufacture high quality plastic containers and closures, with cutting-edge, environmentally friendly furnace technology.
SGD S.A. launches of 100ml Ready-to-Use (RTU) Type I molded glass vials for aseptic fill/finish of parenteral medicinal formulations. It is the first product of its sort in an EZ-fill tray arrangement from a renowned glass packaging supplier.
Author Credits: Sadaf Naaz, Mohd Shadab
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