Dublin, May 02, 2024 (GLOBE NEWSWIRE) -- The "Pharmaceutical Packaging Market by Type (Bottle, Vial, Blister Pack, Ampoule, Pre-filled Syringe), Material (Plastic [PE, Polyvinyl chloride, PP, PET], Paper, Glass, Metal), Dosage Form (Oral, Parenteral, Topical), End User-Global Forecast" report has been added to ResearchAndMarkets.com's offering.
The global pharmaceutical packaging market is projected to reach $176.54 billion by 2031 at a CAGR of 7.6% from 2024 to 2031.
The growth of the pharmaceutical packaging market is driven by growth in the pharmaceutical sector, the rising demand for drug delivery devices, growing healthcare expenditures, the increasing focus on biosimilars, the growing trend of contract manufacturing & packaging in the pharmaceutical sector, and growth in the aging population & the consequent rise in chronic disease prevalence. However, increasing instances of counterfeit packaging, increasing waste generation due to single-use packaging, and concerns over certain materials leaching into pharmaceutical preparations restrain the growth of this market.
North America is expected to account for the largest share of the pharmaceutical packaging market. In the region in 2024, the U.S. is expected to account for the largest share of the pharmaceutical packaging market in North America. The large share of the country is attributed to government support for the growth of the pharmaceutical sector, the growing shift towards the self-administration of drugs, and the strong healthcare and pharmaceutical sector in the country. Additionally, major players operating in the packaging automation sectors are increasingly entering the U.S. market.
Furthermore, the rising adoption of personalized medicines & self-medication, improving healthcare provisions in emerging economies, the growth in pharmaceutical R&D spending, and the increasing focus on vaccine development & vaccination coverage are expected to generate growth opportunities for the players operating in this market. However, changing regulatory regimes and changing market demands in the constantly evolving pharmaceutical landscape are major challenges impacting market growth.
Among all the materials studied in this report, the glass segment is projected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the benefits offered by glass packaging such as sustainable, inert, impermeable, resistant to temperature, recyclable with no loss in quality, and reusable. Additionally, glass is resistant to temperature, which is highly valuable to the pharmaceutical industry. Therefore, due to its safety, inertness, and impermeability, glass remains the preferred choice in pharmaceutical packaging, thereby driving growth.
Among all the packaging types studied in this report, in 2024, the primary packaging segment is expected to account for the largest share of the pharmaceutical packaging market. The large share of the segment is attributed to the increasing need for drug protection from external conditions and advancements in primary packaging. Additionally, the usage of pre-fillable syringes and inhalers is increasing due to the ease of use and the trend of self-medication.
Among all the dosage forms studied in this report, in 2024, the oral dosage form segment is expected to account for the largest share of the pharmaceutical packaging market. The large share of the segment is attributed to oral drug delivery being the most preferred route of administration due to patient compliance and ease of administration. Additionally, the advancements in oral drug packaging are further supporting the large share of the segment.
Among all the end users studied in this report, the contract companies segment is projected to register the highest CAGR during the forecast period. The high growth of the segment is attributed to the increasing outsourcing of pharmaceutical packaging to contract companies due to the complexities associated with the packaging, regulatory compliances, and mandatory serializations. By outsourcing serialization tasks, pharmaceutical companies can ensure compliance with requirements without investing significant time and resources in developing their procedures.
Market Insights
Drivers
- Growing Counterfeiting of Pharmaceutical Products
- Growing Implementation of Serialization/Aggregation Regulations
- Growing Trend of Contract Packaging in Pharmaceuticals
Restraints
- High Cost of Packaging Materials
Opportunities
- Emerging Pharmaceutical Hotspots in Developing Countries
- Growing Pharmaceutical R&D Spending
Challenges
- Changing Market Demands in the Constantly Changing Pharmaceutical Environment
The Impact of COVID-19
Regulatory Landscape
Value-chain Analysis
Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
- Amcor plc (Switzerland)
- Gerresheimer AG (Germany)
- Schott AG (Germany)
- AptarGroup Inc. (U.S.)
- Berry Global Inc. (U.S.)
- Catalent Inc. (U.S.)
- O-I Glass Inc. (U.S.)
- West Pharmaceutical Services Inc. (U.S.)
- NIPRO CORPORATION (Japan)
- and Vetter Pharma International GmbH (Germany
Scope of the Report:
Pharmaceutical Packaging Market Assessment - by Material
- Polymer
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Polyethylene (PE)
- Other Polymers
- Glass
- Paper & Paperboard
- Metal
- Other Packaging Materials
Pharmaceutical Packaging Market Assessment - by Packaging Type
- Primary Packaging
- Blister Packaging
- Bottles
- Vials & Ampoules
- Caps & Closures
- Pre-fillable Inhalers
- Pre-fillable Syringes & Cartridges
- Pouches & Sachets
- Other Primary Packaging
- Secondary Packaging
- Tertiary Packaging
Pharmaceutical Packaging Market Assessment - by Dosage Form
- Oral Dosage Form
- Oral Solid Dosage
- Oral Liquid Dosage
- Parenteral Dosage Form
- Other Dosage Forms
Pharmaceutical Packaging Market Assessment - by End User
- Pharmaceutical Companies
- Contract Companies
- Pharmacies
Pharmaceutical Packaging Market Assessment - by Geography
- North America
- U.S.
- Canada
- Europe
- Switzerland
- Italy
- Germany
- France
- U.K
- Ireland
- Belgium
- Spain
- Denmark
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/8valhp
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