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PACKAGING

Pharmaceutical Packaging Market Analysis by Type (Primary, and Secondary); by Material (Plastic, Glass, Metal, Paper, and Others); and by Product Type (Vials, Bottles, Blister Packs, Sachets, Syringes, Ampoules, and Cartons and Boxes) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • 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.

Global Pharmaceutical Packaging Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~8%

Base Year Market Size (2022)

~ USD 108 Billion

Forecast Year Market Size (2033)

~ USD 233 Billion

The global pharmaceutical packaging market is estimated to garner a revenue of ~USD 233 Billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD ~108 Billion in the year 2022. This can be attributed to growing health concerns and the increased use of medicines worldwide. For instance, according to the CDC, the spending on prescription drugs increased from USD 349.8 billion in 2018 to USD 369.7 billion in 2019.

Pharmaceutical-Packaging-Market-Analysis

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One of the most crucial aspects of the pharmaceutical sector is packaging. Drugs are protected by the packaging during usage, storage, and sale. The goals of packaging include medication security, portion control, physical and chemical protection, and confinement. Pharmaceuticals place a lot of importance on primary packaging. Primary packaging is meant to be inert and shouldn't affect the chemical makeup of the dosage because it comes into direct touch with the medication. Different manufacturers use different packaging to stand out. Branded medicines especially are the biggest consumers of pharmaceutical packaging, with over 80% share of the market in the United States.

Global Pharmaceutical Packaging Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing World Medical Expenditure – People are spending more money than ever on healthcare to prevent sickness as modern healthcare facilities and better diagnostics evolve. In the United States, health spending and funding (per capita, current prices) grew from USD 11859.2 in 2020 to USD 12318.1 in 2021, according to the OECD.
  • Increased Government Spending on Healthcare – U.S. figures show that government spending on healthcare increased by nearly 35% in 2020, a major increase from the 6% growth in 2019. This expansion was more rapid in part because of the COVID-19 epidemic.
  • A Marked Rise in the Frequency of Chronic Diseases – Diseases which often require a long, undergoing treatment and are generally incurable are called chronic diseases. They often require regular medication to manage symptoms. According to the CDC, 6 out of 10 people in the U.S.  have at least one chronic disease, such as heart disease, diabetes, stroke or cancer.
  • Better and Safer Supply Chains – Better supply chains will reduce costs, and enhance the reach and use of pharmaceutical products, directly benefitting the pharmaceutical packaging market. Post-pandemic, the world has realized the importance of better supply chains, and over 60% of businesses feel they have a competitive advantage thanks to supply chain management.
  • Increased Use of Pharma Products Post-Pandemic – According to Our World in Data, 67.9% of the total people in the world have received at least the first dose of the COVID vaccine.  Over 12.71 billion doses have been used all over the world, and 3.5 million are doses are being used per day. Each vaccine is contained inside a glass vial, and the pharmaceutical packaging market is benefitting from it.

Challenges

  • Maintaining Sustainability and Preventing Environmental Harm
  • High Competition in the Market Among Major Players
  • Breakages, Spillage and Improper Handling

The global pharmaceutical packaging market is segmented and analyzed for demand and supply by material into plastic, glass, metal, paper and others. Out of these segments, the plastic segment is anticipated to garner the highest market share by 2033, owing to their inert, recyclable and reusable nature. For instance, over 1.5 billion pounds of PET plastic was recycled in U.S. and Canada.

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare-Expenditure-Per-Capita

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Pharmaceutical Packaging Market Regional Synopsis

Regionally, the global pharmaceutical packaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033, owing to the fact that the U.S. spends the highest amount of money on healthcare, upwards of ~12000 USD per capita.

The global pharmaceutical packaging market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global pharmaceutical packaging market includes the following segments:

By Type

  • Primary
  • Secondary

By Material

  • Plastic
  • Glass
  • Metal
  • Paper
  • Others

By Product Type

  • Vials
  • Bottles
  • Blister packs
  • Sachets
  • Syringes
  • Ampoules
  • Cartons
  • Boxes

Top Featured Companies Dominating the Global Pharmaceutical Packaging Market

  • Becton, Dickinson, and Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Amcor plc
  • AptarGroup, Inc.
  • Drug Plastics Group
  • Gerresheimer AG
  • Schott AG
  • Owens Illinois, Inc.
  • West Pharmaceutical Services, Inc.
  • Berry Global, Inc.
  • WestRock Company
  • SGD S.A.

 

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