Increase in demand for pharmaceuticals, innovations in
packaging materials and technologies, and growth in focus on
patient safety and compliance drive the growth of the global
pharmaceutical packaging market.
PORTLAND, Ore., May 15, 2024 /PRNewswire/ -- Allied Market
Research published a report, titled, "Pharmaceutical Packaging
Market By Product (Parenteral Container, Plastic Bottle, Blister
Packing, Specialty Bags, Closures, Labels, Others), By Material
Type (Glass, Aluminum Foils, Plastics And Polymers, Paper And
Paperboards, Others): Global Opportunity Analysis And Industry
Forecast, 2024-2035". According to the report, the global
pharmaceutical packaging market was valued at
$111.7 billion in 2023 and is
estimated to reach $233.3 billion
by 2035, exhibiting a CAGR of 6.3% from 2024 to 2035.
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Market Forecast 2035 -
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Prime determinants of growth
Growth in advancements in packaging technologies and the
presence of key players are the factors that drive the growth of
the global pharmaceutical packaging market. However regulatory
compliance is anticipated to hinder the market growth. On the
contrary, a rise in healthcare expansion is expected to offer
remunerative opportunities for the pharmaceutical
packaging market during the forecast period.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2035
|
Base Year
|
2023
|
Market Size in
2023
|
$111.7
billion
|
Market Size in
2035
|
$233.3
billion
|
CAGR
|
6.30 %
|
No. of Pages in
Report
|
275
|
Segments
covered
|
Product, Material Type,
and Region
|
Regional
scope
|
North America, Europe,
Asia-Pacific, LAMEA
|
Drivers
|
Increase in demand
for pharmaceuticals
|
|
Innovations in
packaging materials and technologies
|
|
Growth in focus on
patient safety and compliance
|
Opportunities
|
Growth
opportunities in emerging markets
|
Restraints
|
Stringent regulatory
compliance
|
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The plastic bottle segment maintained its lead position
during the forecast period.
By product, the plastic bottle segment accounted
for the largest share in 2023, accounting for more
than one-fifth of the global pharmaceutical
packaging market revenue. This dominance is attributed to
multiple factors, including the widespread use of plastic bottles
to package diverse pharmaceutical liquids and solids. Their
versatility, lightweight construction, durability, and
cost-effectiveness, coupled with compliance with stringent
regulations, fuel sustained demand and growth in the pharmaceutical
packaging market for plastic bottles.
However, the parenteral containers segment is projected to
register the highest CAGR of 7.8% during the forecast
period. This growth is attributed to several factors,
including the rise in demand for injectable medications,
increase in the prevalence of chronic diseases, advancements
in biopharmaceuticals, and expanding applications of parenteral
drug delivery systems. Additionally, stringent regulatory
requirements and a focus on patient safety further drive the
adoption of specialized parenteral containers, thereby fueling
market growth.
The plastics and polymers segment to maintain its lead
position during the forecast period.
By material type, the plastics and
polymers segment accounted for the largest share in 2023,
accounting for more than one-third of the global
pharmaceutical packaging market revenue. This is attributed to
the versatility, durability, and cost-effectiveness of plastic
packaging solutions. Furthermore, continuous advancements in
plastic materials and manufacturing technologies are enhancing the
performance and functionality of plastic packaging, consolidating
its stronghold in the market.
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However, the glass segment is projected to register the highest
CAGR of 8.6% during the forecast period. This growth is
attributed to the remarkable barrier properties, inertness, and
perceived high quality of glass packaging, especially for delicate
pharmaceutical products. Moreover, rise in demand for
environment-friendly and recyclable packaging materials contributes
to the increasing adoption of glass in pharmaceutical packaging,
thereby driving its growth during the forecast period.
North America to maintain
its dominance by 2035
By region, North America
held the highest market share in terms of revenue in 2023,
accounting for almost two-fifths of the global
pharmaceutical packaging market revenue. This is primarily
attributed to high purchasing power, coupled with a rise in the
adoption rate of smart and advanced packages.
However, Asia-Pacific is
projected to register the highest CAGR of 7.8% during the forecast
period. This is attributed to the presence of large untapped
opportunities in this region. Further, requirements for brand
enhancement and differentiation, new packaging material
development, increase in awareness of environmental issues, and the
adoption of new regulatory requirements on recycling packages are
projected to boost the growth of the Asia-Pacific pharmaceutical packaging
market.
Leading Market Players: -
- Amcor plc.
- Aptar Group, Inc.
- Catalent Inc.
- CCL Industries Inc.
- BD (Becton, Dickinson and Company)
- Gerresheimer AG
- West Pharmaceutical Services, Inc.
- Nipro Corporation
- Berry Global Group, Inc
- Schott Pharmaceutical Packaging
The report provides a detailed analysis of these key players
in the global pharmaceutical packaging market. These
players have adopted different strategies such as product
launch, product development, and product approval to increase
their market share and maintain dominant shares in different
regions. The report is valuable in highlighting business
performance, operating segments, product portfolio, and strategic
moves of market players to showcase the competitive scenario.
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