PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1423874
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1423874
The market for pharmaceutical packaging is approximated to be USD 132.0 billion in 2023, and it is projected to reach USD 269.9 billion by 2028 at a CAGR of 15.4%. The increasing demand for pharmaceutical packaging is driven by the surge in healthcare expenditures, necessitating a higher requirement for various packaging products such as strip packs, aerosol generators, collapsible tubes, canisters, implants, and blister packs. Technological advancements in the pharmaceutical packaging industry have given rise to innovative solutions such as smart packaging and sterile packaging, contributing to the overall growth of the market.
Scope of the Report | |
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Years Considered for the Study | 2020-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD) |
Segments | Type, By Packaging Type, Drug Delivery, Raw Material, and Region |
Regions covered | North America, APAC, Europe, Middle East & Africa, and South America |
"By Type, Labels & accessories accounted for the third highest CAGR during the forecast period."
The labels & accessories market is experiencing significant growth driven by the pharmaceutical packaging market. Labels & accessories in pharmaceutical packaging play a critical role in ensuring the safety, efficacy, and proper usage of medications. Labels play a crucial role in conveying vital information about a product, encompassing dosage instructions, expiration dates, and lists of ingredients. Additionally, labels aid in the identification and comprehension of the product, enhancing patient safety and ensuring compliance with regulatory standards. Accessories such as tamper-evident elements and child-resistant packaging are specifically crafted to safeguard products and deter unauthorized access, especially for medications carrying a risk if consumed by children or if the product's integrity is compromised.
"By Packaging Type, Primary packaging is the fastest growing packaging type during the forecast period."
The primary packaging is the first and initial layer of packaging directly in contact with the drug and holds significant importance in preserving the quality and effectiveness of pharmaceutical products. This market encompasses diverse forms of packaging, including ampoules, vials, containers, strip packaging, blister packaging, syringes, bottles, and sachet packaging. The evolution of drug delivery systems frequently requires innovative primary packaging solutions to support novel administration methods, including prefilled inhalers, syringes, and other specialized devices. These factors drive the primary packaging segment in the pharmaceutical packaging market.
"By Drug Delivery, Injectables accounted for the second largest market during the forecast period."
Injectable drug delivery modes are recognized as highly effective and successful routes of drug administration due to their rapid and efficient delivery to the target area. While most drugs are administered orally or through injections, injectables come in various forms such as self-injection devices, prefilled syringes, auto-injectors, safety syringes, patch injectors, pen injectors, and more. The growth of the biologics market is also anticipated to contribute to the expansion of the injectables market in the forecast period.
"By Raw Material, Paper & paperboard accounted for the second largest market share during the forecast period."
Paperboard materials are widely used for secondary pharmaceutical packaging, such as cartons, blister wallets, and rigid boxes, due to their greater surface area and improved product display. The attributes of the paper substrate, such as surface properties, color, brightness, opacity, basis weight, grain direction, tensile strength, and tearing strength, are important considerations in the production of paperboard packaging. Anticipated future developments in paper and paperboard for pharmaceutical packaging, focusing on aspects such as branding, labeling, patient adherence functionality, braille compliance features, and the inclusion of regulatory information, are expected to contribute to market growth. There is a notable demand for visually appealing prints on paper-based packaging, further fostering the expansion of this segment.
"Europe is projected to account for the second largest market share in the pharmaceutical packaging market during the forecast period."
In Europe, there is a growing demand for primary packaging products driven by advanced drug delivery modes such as prefilled inhalers and pre-filled syringes. Additionally, caps & closures, blister packs, and specialty bags contribute to the growing demand for primary packaging in the region. The rising demand for pharmaceutical packaging in the European region is driven by the growing activities in pharmaceutical research, production, and distribution. Significant advancements in the field of medical biopharmaceuticals are further boosting the market in the region. The pharmaceutical packaging industry has witnessed consistent growth in countries such as Germany, France, and the UK, owing to their health-conscious population.
Primaries-
By Company Type: Tier 1: 25%, Tier 2: 50%, and Tier 3: 25%
By Designation: C-level Executives: 30%, Directors: 20%, and Others: 50%
By Region: North America: 20%, Europe: 30%, Asia Pacific: 25%, Latin America: 15%, and Middle East & Africa: 10%
Companies Covered: Berry Global (US), Amcor Plc (Switzerland), Gerresheimer AG (Germany), Schott AG (Germany), and AptarGroup, Inc. (US) are some of the established players in the pharmaceutical packaging market.
Research Coverage
The market study covers the pharmaceutical packaging market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, packaging type, raw material, drug delivery, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the pharmaceutical packaging market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall pharmaceutical packaging market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
(Business overview, Products/Solutions/Services offered, Recent Developments, MnM view, Right to win, Strategic choices, Weaknesses and competitive threats) **