NEWARK, Del, April 24, 2023 (GLOBE NEWSWIRE) -- The global pharmaceutical unit dose packaging market is expected to attain an impressive valuation of US$ 34.2 billion in 2023 and is projected to reach US$ 136 billion by 2033, trailing a CAGR of 14.8% during the forecast period.
The increasing importance of product traceability and safety is driving the growth of the pharmaceutical unit dose packaging market. The growing awareness regarding the risks associated with drug contamination and tampering further escalate product demand that can protect drugs from these risks. For instance, the use of e-pedigree systems is used to track and trace the movement of drugs through the supply chain. This helps to ensure that only authentic drugs reach the market.
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An increase in the supply of active pharmaceutical ingredients (APIs) is further fuelling the demand for blister-based unit dose packaging. The new developments in API manufacturing and development facilities are helping the market to grow.
A surge in demand for child-resistant and senior-friendly packaging is further boosting product demand. Unit dose packaging options are designed to avoid accidental ingestion of drugs by children and older adults. This help in improving patient safety and minimizing the risk of medication errors. Furthermore, the increasing number of prescription drugs is increasing revenue growth.
A rise in global spending on medicine is positively impacting the blister unit dose pharmaceutical packaging. Various developed countries are witnessing a better adoption rate for improved healthcare diagnostics and overall standards, including medicine. This is anticipated to augment growth in the market.
An increase in drug consumption rate is further driving product demand. On the other hand, the evolution of e-commerce platforms is contributing to simplifying drug access and also complying with the strict regulations for safe logistics.
Key Takeaways
- North America is expected to dominate the industry by accumulating over 38.6 % revenue share by end of the forecast period.
- The market in India is projected to witness the fastest CAGR of 7.90% during the forecast period.
- China is projected to exhibit a 6.90 % of CAGR in Pharmaceutical Unit Dose Packaging market.
- By packaging type, vials are projected to account for 35% market share by end of the forecast period.
- By material type, Plastic is expected to lead the market by withholding 47.9 % of revenue share in 2023.
“A surge in demand for over-the-counter drugs will especially create a favorable ground for pharmaceutical packaging materials. In addition, increasing preference for single-dose packaging formats, and rapid expansion of e-Pharmacy will further propel growth in the market”- comments an FMI Analyst
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Competitive Landscape
The Pharmaceutical Unit Dose Packaging market is extremely competitive and consists of numerous key industry players. These players are innovating new products in the respiratory devices domain. This is expected to propel the pharmaceutical unit dose packaging market. The key industry players are:
Gerresheimer AG, West Pharmaceuticals Services, Inc, Schott AG, SGD SA, Stevanato Group S.p.a., Klockner Pentaplast Group, UDG Healthcare plc., Nipro Corporation, Amcor plc., Adelphi Healthcare Packaging, Winpak Ltd., Berry Global, Inc., Comar LLC, Constantia Flexibles Group GmbH, Catalent Inc., Becton, Dickinson and Company, Pacific Vial Manufacturing Inc., Sonoco Products Company, WestRock Company, AptarGroup, Inc.
Key market players are leveraging on inorganic growth strategies like acquisition, mergers, partnerships, and collaboration in order to enhance their product portfolio. This is expected to fuel the global Pharmaceutical Unit Dose Packaging Market.
- In May 2021, ‘Gerresheimer’ showcased a new platform for on body infusion pump “SensAIR” that can deliver drugs of high viscosity. It is simple to use and helps in the self-determination of medication.
- In January 2022, ‘Berry Global Group’ and ‘Raw Elements USA’ collaborated to introduce a sugarcane-based sustainable tube. The tubes are manufactured from waste sugarcane, which is converted into high-density polyethylene and low-density polyethylene to make a material with the same chemical composition as polyethylene obtained from fossil fuels.
- In June 2021, Amcor PLC introduced the ‘ACT2100’ heat seal coating for use with medical-grade DuPont Tyvek2 and paper packaging. This innovative coating process enhances the performance characteristics of medical applications.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global pharmaceutical unit dose packaging market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the pharmaceutical unit dose packaging market, the market is segmented on the basis of product, material, end-use, and regions.
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Key Segments Profiled in the Pharmaceutical Unit Dose Packaging Industry Survey
By Product:
- Blisters
- Ampoules
- Vials
- Prefilled Syringes & Cartridges
By Material:
- Plastic
- Polyethylene
- Polypropylene
- Polyvinyl Chloride
- Polyethylene Terephthalate
- Aluminium
- Glass
- Paper & Paperboard
By End Use:
- Ophthalmic
- Injectable
- Biologics
- Wound Care
- Respiratory Therapy
- Orals
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Table of Content
1. Executive Summary | Pharmaceutical Unit Dose Packaging Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
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About the Packaging Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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