OTTAWA, Dec. 15, 2020 (GLOBE NEWSWIRE) -- The global pharmaceutical packaging market size was valued at US$ 98.83 billion in 2019 and expected to grow at a compound annual growth rate (CAGR) of 8.6% during the forecast period 2020 to 2027.
Pharmaceutical packaging is commonly defined as the packaging materials used for packaging of pharmaceutical products. These materials are manufactured using drug-compatible materials that provide identification, protection, as well as ensure the reliability of the enclosed drug. Primary and secondary solutions of packaging are largely used to protect the enclosed product from biological, chemical, mechanical, and climatic hazards.
Blisters, bottles, caps & closures, labels & accessories, pouches & strip packs, pre-filled syringes, vials, pre-filled inhalers, jars & canisters, ampoules medication tubes, and cartridges are part of the primary packaging product segment. However, secondary packaging solutions include paperboard boxes and temperature-controlled packaging. Pharmaceutical packaging products are manufactured using a variety of raw materials that include paper & paperboards, plastics & polymers, aluminum foil, glass, and others. Primary packaging products are made using materials for example glass, plastics & polymers, and aluminum foil.
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Growth Factors
Growing pharmaceutical industry especially in the developing countries because of high spending on healthcare infrastructure growth along with rising health awareness in the countries expected to prominently drive the market growth. Further, increasing demand for patient-oriented drugs and medicines is the other most important factor that triggers the demand for pharmaceutical packaging solution.
Demographic trends that include rising population along with rapid aging of population expected to fuel the requirement for pharmaceutical products, thereby propels the growth for pharmaceutical packaging solution over the analysis period. In addition, increasing demand for generic drugs because of their affordability along with development of new drugs further projected to drive the market growth for pharmaceutical packaging during the forthcoming years.
Various packing solutions used for pharmaceuticals effectively prevent the contamination as well as they offer drug safety along with the convenience in transportation and handling. Hence, pharmaceutical packaging is required for balancing several complex factors. Apart from this, high cost of these packaging solutions due to anti-counterfeiting efforts and stringent regulations is likely to hamper the market growth. Thus, rising packaging costs is one of the major challenges faced by the manufacturers of pharmaceutical packaging solutions.
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Regional Snapshots
North America is commonly known for the technological advancements along with product innovations that motivate drug manufacturers to offer advanced packaging solutions within the pharmaceutical industry. Major factors contributing towards the growth of the region include advancement in nanotechnology used for manufacturing processes coupled with the technological innovation, rising demand for blister packaging and drug delivery devices, to the pharmaceutical packaging market.
The United States anticipated being the largest pharmaceutical packaging market in North America because of its advanced drug production facility that commercializes new and sophisticated therapies that require specialized packaging solutions. However, the Asia Pacific expected to grow at a prominent rate over the analysis period owing to rising health awareness and disposable income in the region.
Report Highlights
- North America led the global market and account for a value share of around 38% in 2019 due to significant presence of leading pharmaceutical players in the region
- The Asia Pacific projected to witness the fastest growth rate of nearly 12% over the forthcoming years owing to rapidly increasing population along with steady economic growth in the region
- Primary pharmaceutical packaging product segment captured the maximum value share of nearly 75% and projected to retain its position over the analysis period
- The secondary product segment projected to witness a CAGR of approximately 7.5% over the forecast period owing to significant usage in logistics &transportation
- In 2019, pharmaceutical manufacturing held the largest revenue share of around 36% and projected to maintain the same trend over the forthcoming years due to increasing demand for better medical facilities
- Increasing preference for outsourcing service rather than investing on the establishment of packaging infrastructure projected to propel the growth of contract packaging segment
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Key Players & Strategies
The global leaders in the pharmaceutical packaging industry are present on both regional and local level that turns the market into fragmented. Further, these market players are focusing prominently on the product development and enhancement. In the wake of same, they invest significantly on the R&D sector. This strategy of the leading industry participants also helps them to maintain their position as well as to grab maximum hold on the global market.
Some of the key players operating in the market are Becton, Dickinson and Company, Amcor Plc, AptarGroup, Inc., Gerresheimer AG, Drug Plastics Group, Schott AG, West Pharmaceutical Services Inc., Owens Illinois Inc., Berry Global, Inc, SGD S.A., WestRock Company, International Paper Company, CCL Industries Inc., COMAR LLC, and Vetter Pharma International among others.
Market Segmentation
By Product
- Tertiary Pharmaceutical Packaging
- Secondary Pharmaceutical Packaging
- Pharmaceutical Packaging Accessories
- Prescription Containers
- Primary Pharmaceutical Packaging
- Caps & Closures
- Plastic Bottles
- Parenteral Containers
- Prefillable Inhalers
- Blister Packs
- Medication Tubes
- Pouches
- Others
By Material
- Paper & Paperboard
- Plastics & Polymers
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- Others
- Glass
- Aluminum Foil
- Others
By Application
- Retail Pharmacy
- Pharmaceutical Manufacturing
- Institutional Pharmacy
- Contract Packaging
- Others
By Regional Outlook
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
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