Pharmaceutical Plastic Packaging - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Pharmaceutical Plastic Packaging Market size is estimated at USD 52.19 billion in 2024, and is expected to reach USD 69.33 billion by 2029, growing at a CAGR of 5.85% during the forecast period (2024-2029).

Key Highlights

• The global pharmaceutical plastic packaging sector is growing fast because of the need for packaging for both communicable and non-communicable diseases. This growth is mainly due to the need to protect medicines from damage, contamination, and other external factors. As technology advances, the demand for bottles, vials, and other packaging solutions and medicines increases.
• Additionally, the rising demand for injectables is a crucial factor driving the plastic packaging sector. The main growth drivers are the high demand for cancer drugs, strong medications (like antibody conjugates and fast-acting steroids), and increased drug spending. At the same time, the industry is seeing more sustainable packaging solutions to reduce environmental impact while keeping medicines safe.
• Stricter regulations push the industry to adopt better packaging solutions that meet these new standards. The aging population and the rise in chronic diseases also increase the demand for pharmaceutical plastic packaging.
• Protecting medicines from light, moisture, contamination, and physical damage is crucial. This need highlights the importance of innovative packaging solutions that ensure product safety and meet strict regulations. Future advancements in packaging technology are expected to improve the protective and sustainable features of rigid plastic packaging in the pharmaceutical sector.
• Also, as global healthcare concerns grow, pharmaceutical companies expand and invest to increase profits. For example, in March 2023, Oliver Healthcare Packaging announced the opening of a new manufacturing facility in Malaysia, expanding its presence in Asia-Pacific.
• Government bodies are increasing bans and restrictions on certain types of plastics used in pharmaceutical packaging. These restrictions, often on single-use and non-recycled plastics, are due to environmental concerns. As a result, the options for pharmaceutical packaging are becoming more limited, which may reduce the demand for plastic packaging. These regulatory changes encourage using more eco-friendly alternatives, like bio-based, biodegradable, or recycled materials, which impact the market.

Pharmaceutical Plastic Packaging Market Trends

Increasing Adoption of Polyethylene Terephthalate (PET) Packaging for Pharmaceutical Products

• Polyethylene terephthalate (PET), a member of the polyester family, is a clear, strong, and safe plastic. It is non-toxic and non-carcinogenic, making it ideal for pharmaceutical packaging. PET protects against CO2 and light and repels microorganisms. The EU, NSF, and FDA also approve it.
• PET's lightweight nature and glass-like appearance make it visually appealing. It is also strong, non-reactive, and shatterproof, ensuring high pharmaceutical safety standards. PET is also recyclable, supporting environmental sustainability. Its lightweight, durable, and recyclable combination makes PET a top choice for pharmaceutical packaging, ensuring the safety and integrity of medicines.
• Over the years, PET has become a leading plastic known for its safety and quality. It is widely used in packaging liquid oral medications, especially for children and the elderly. PET's unique features highlight its growing importance in the pharmaceutical sector.
• Packaging manufacturers are focusing on offering innovative PET packaging solutions to cater to the growing demand for sustainable plastic packaging in the pharmaceutical sector. For instance, in January 2024, Bormioli Pharma SpA announced the launch of an innovative pharmaceutical packaging bottle made from 100% recycled virgin PET resin along with the partnership of Loop Industries Inc. This will help the company cater to the growing adopting of sustainable practices and materials to reduce its environmental impact in the pharmaceutical sector.
• Additionally, PET can reduce weight by up to 90% compared to glass, lowering transportation costs. PET plastic bottles replace heavier glass bottles in the pharmaceutical industry, offering a reusable solution for various liquid products. For example, China's plastic product production increased significantly, from 6.56 million metric tons in October 2023 to 11.89 million in January/February 2024. This increase is mainly due to the rising demand for plastic packaging in the pharmaceutical sector.

China and India's Healthcare Reforms Drive Growth in Pharmaceutical Plastic Packaging

• China's thriving pharmaceutical sector offers numerous opportunities for pharmaceutical plastic packaging companies. The Chinese government's ongoing healthcare reforms are set to amplify this sector's expansion. The demand for sophisticated packaging solutions is rising with a growing emphasis on drug safety and compliance. Moreover, as China's population ages and chronic diseases become more prevalent, the consumption of pharmaceuticals is expected to surge, directly boosting the need for pharmaceutical plastic packaging.
• Chinese pharmaceutical packaging firms are increasingly investing in in-house R&D teams. This move aims to explore advanced, eco-friendly, secure, and sustainable packaging materials and products. This strategic shift and a surge in innovation, partnerships, acquisitions, and drug production elevate the market's value.
• For instance, the Sanner Group is a leader in healthcare packaging and medical components. In November 2023, the company expanded its footprint in the Asia-Pacific by launching a state-of-the-art manufacturing plant in Kunshan, China. Covering 18,000 m2, with 4,000 m2 dedicated to production, the facility meets Class D clean room standards, ensuring GMP-compliant manufacturing for drug delivery devices and medical packaging.
• Also, India's healthcare reforms, notably the Production Linked Incentive (PLI) scheme, are pivotal in driving market growth. This scheme, a cornerstone of India's self-reliance initiative (Atmanirbhar Bharat), underscores the nation's push for local manufacturing. These initiatives drive India's pharmaceutical plastic packaging market with a heightened focus on regulatory compliance and recycling.
• India's commitment to bolstering healthcare infrastructure and its increased investments in the pharmaceutical sector further solidify the market's growth trajectory. According to the Organisation of Pharmaceutical Producers of India, the pharmaceutical industry was valued at USD 49 billion in 2022. Projections suggest this figure could soar to USD 130 billion by 2030 and an impressive USD 450 billion by 2047, offering a promising outlook for the pharmaceutical plastic packaging market.

Pharmaceutical Plastic Packaging Industry Overview

The competitive landscape of the pharmaceutical plastic packaging market is fragmented, consisting of several players like Gerresheimer AG, Amcor Group GmbH, Berry Global Inc., Aptar Group Inc., Comar LLC, West Pharmaceutical Services, Inc., and more. The players in the market are focusing on expanding their capacities to cater to the growing need for plastic packaging in the pharmaceutical sector.

April 2024: Berry Global Group Inc., a player in manufacturing patient-centric healthcare solutions, bolstered its healthcare production capacity by investing in enhanced assets and manufacturing capabilities. This strategic move is set to amplify production by as much as 30% at three of its European facilities.

November 2023: Amcor Group GmbH, a leading packaging developer and producer, unveiled its latest innovation in Medical Laminates. This advancement marks a significant step forward, introducing all-film packaging that seamlessly fits into the polyethylene recycling stream. The new packaging solution is a mono-material polyethylene (PE) laminate designed to cater to diverse packaging needs. Notably, a recyclable alternative can seamlessly substitute non-recyclable lids in 3D thermoformed packages commonly utilized for drapes, catheters, and injection systems. Also, these laminates find application in 2D pouches, which is ideal for products like wound care materials and gloves.

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