Pharmaceutical Packaging Market

The global pharmaceutical packaging market size is estimated to be USD 132.0 billion in 2023 and projected to reach USD 269.9 billion in 2028, at a CAGR of 15.4%. The market growth is driven by increasing concerns about chronic diseases, driving the demand for packaging that ensures product integrity and minimizes contamination risks. The growing demand for drug delivery devices and blister packaging also plays a pivotal role in propelling the pharmaceutical packaging market.

Pharmaceutical Packaging Market Size, Dynamics & Ecosystem

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Recession Impact

The packaging sector has proven to be resilient through challenging economic environments, such as the Great Recession and the COVID-19 pandemic. However, packaging companies achieved EBITDA growth rates in line with or better than the broader market during these periods, with greater stability and resilience as demonstrated by lower peak-to-trough declines. In the pharmaceutical industry, the predictions for a recession are not nearly as dire but are still high. In the wider economy, recession fears have been sparked by indicators such as the US government's deficit and trade tensions with China. To some extent, the pharmaceutical industry is shielded from these issues. While there may be a general recession, the demand for life-saving medications is not going to change. Yet, these wider economic jitters are now colliding with downward pricing pressures within the pharmaceuticals industry and prompting companies to retool many of their efforts in R&D and their pricing models.

Pharmaceutical Packaging Market Dynamics

Driver: Growing healthcare expenditure and the pharmaceuticals industry in emerging economies drive the market

The pharmaceutical industry is experiencing rapid expansion in emerging economies, fueled by technological innovations, advanced manufacturing processes, and enhanced collaboration among companies. This growth is driving the pharmaceutical packaging market, with the most significant impact expected in emerging economies such as Russia, Brazil, India, and China. Factors such as increased awareness of the benefits of robust healthcare systems, rising income levels, and a focus on healthier lifestyles are contributing to market growth in these regions. Additionally, demographic trends and the large population base, including a growing young population and higher life expectancy, serve as key drivers for this growth.

Restrain: Lack of access to proper healthcare in emerging economies.

The growth of the market is hindered by factors such as poverty, inadequate infrastructure, low literacy rates, and the presence of unorganized healthcare systems in emerging economies. In India, a significant portion of the population continues to face challenges due to subpar healthcare quality and limited access. Poverty stands out as a significant obstacle to obtaining healthcare services in these emerging economies. Financial constraints, lack of information, outdated equipment, lack of proper staff, and awareness of proper healthcare practices are the major challenges that limit access to healthcare services. These issues are restraining the growth of the pharmaceutical packaging market in India, Brazil, South Africa, and other emerging economies.

Opportunity: Growing demand for primary pharmaceutical packaging

Primary pharmaceutical packaging products come in direct contact with the medicine or drug. These products encompass a range of items, including glass bottles, plastic bottles, prefilled syringes, medication tubes, prefilled inhalers, blister packaging, and more. The primary contributors to the growth of this segment are prefillable syringes and prefilled inhalers, with blister packs, plastic bottles, and ampoules & vials also experiencing significant growth. The expansion of diverse and advanced drug-producing companies in emerging economies such as the US, France, Canada, Japan, Germany, and the UK, along with the adoption of advanced packaging technologies such as eco-friendly packaging, patient-specific dosages,  and innovative counterfeiting techniques, will propel the growth of primary packaging.

Challenge: Protecting against counterfeit products

The extended timelines and costs associated with the approval of new drugs and their packaging contribute to delays, leading to a rise in counterfeit drugs and fake packaging. These counterfeit products pose health risks, including allergic reactions, nausea, and vomiting. Emerging technologies like induction seals, near-field communication (NFC) tags, nano barcodes, serialization, cloud, and blockchain offer improved counterfeit protection and enhance distribution traceability. However, counterfeiters often find ways to bypass these systems within two to three years, necessitating frequent and costly upgrades for pharmaceutical packaging companies. Hence, fighting the counterfeiting of products is a major challenge for pharmaceutical packaging companies.

Pharmaceutical Packaging Market: Ecosystem

Pharmaceutical Packaging Market Segmentation & Geographical Spread

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The pre-filled syringes segment is the fastest growing type in the pharmaceutical packaging market during the forecast period.

Pre-filled syringes are highly regarded by healthcare professionals as an effective, dependable, and convenient means of drug administration. They are acknowledged for their ability to reduce drug waste, extend product shelf life, and enhance market share. Additionally, pre-filled syringes offer benefits such as minimizing the risk of contamination, preventing drug wastage due to overfilling, eliminating dosing errors, and enabling rapid drug delivery during emergencies. These are some factors driving demand for pre-filled syringes in the pharmaceutical packaging market.

Primary packaging is the fastest growing packaging type in the pharmaceutical packaging market during the forecast period.

The primary packaging market in the pharmaceutical packaging industry is rapidly expanding due to several significant factors. These include the global growth of the pharmaceutical industry, which is being driven by increasing healthcare needs, population expansion, and the prevalence of chronic diseases. Additionally, the demand for primary pharmaceutical packaging materials and solutions is on the rise due to stringent regulatory requirements set by organizations such as the FDA and EMA, which ensure product safety and traceability. Furthermore, the globalization of the pharmaceutical supply chain is increasing the need for packaging materials that can withstand international shipping and maintain product integrity.

Injectables are the fastest growing drug delivery in the pharmaceutical packaging market during the forecast period.

Injectable drug delivery modes are recognized as highly effective and successful routes of drug administration due to their rapid and efficient delivery to the target area. While most drugs are administered orally or through injections, injectables come in various forms such as self-injection devices, prefilled syringes, auto-injectors, safety syringes, patch injectors, pen injectors, and more. Technological advancements have led to the creation of a diverse range of improved and enhanced devices.

Plastic is the fastest growing raw material in the pharmaceutical packaging market during the forecast period.

Plastics are permeable to moisture, oxygen, and carbon dioxide, and they allow the penetration of light rays unless the plastic container is pigmented. The pharmaceutical industry is increasingly exploring sustainable and recyclable packaging materials to reduce waste and improve environmental impact. The market for this segment is driven by the wide use of plastics in OTC drugs, blister packaging, prefilled syringes, and the oral drug delivery mode.

Asia Pacific is the fastest growing in the pharmaceutical packaging market, in terms of value.

Asia Pacific stands as the fastest-growing region in the pharmaceutical packaging market due to the rising population and increasing adoption of advanced technologies. The recent trends reflecting improved healthcare systems and enhanced access to healthcare services in the region present new growth opportunities for pharmaceutical packaging providers. The emerging markets within the Asia Pacific region are poised to experience rapid growth in the coming years, driven by factors such as increasing government initiatives, evolving lifestyles, expanding contract manufacturing activities, and an aging demographic.

Key Market Players

Berry Global (US), Gerresheimer AG (Germany), Amcor plc (Switzerland), Schott AG (Germany), and AptarGroup, Inc. (US) are some of the established players in the pharmaceutical packaging market. These players have established a strong foothold in the market by adopting strategies, such as expansions, joint ventures, and mergers & acquisitions.

Read More: Pharmaceutical Packaging Companies

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Scope of the Report

The study categorizes the pharmaceutical packaging market based on type, raw material, packaging type, drug delivery, and region.

By Type:

• Plastic Bottles
• Blister Packs
• Caps & Closures
• Pre-filled Syringes
• Pouches & Strips
• Pre-filled Inhalers
• Vials
• Ampoules
• Cartridges
• Labels & Accessories
• Medical Specialty Bags
• Temperature-controlled Packaging
• Medication Tubes
• Jars & Canisters
• Others

By Drug Delivery:

• Oral Drugs
• Pulmonary
• Transdermal
• Injectables
• Topical
• Nasal
• Ocular/Ophthalmic
• IV Drugs
• Others

By Packaging Type

• Primary
• Secondary

By Raw Material

• Plastics
• Paper & paperboard
• Glass
• Metal
• Others

By Region:

• North America
• Asia Pacific
• Europe
• Middle East & Africa
• South America

Recent Developments

• In June 2022, Becton, Dickinson and Company acquired Parata Systems. This strategic acquisition enables the company to venture into new pharmacy automation solutions aimed at reducing costs, enhancing patient safety, and improving the overall patient experience. It bolsters the company's pharmacy automation portfolio by incorporating high-speed robotic dispensing technologies, medication adherence packaging, and pharmacy workflow solutions.
• In November 2022, Amcor investment in PulPac fiber technology, a Swedish company providing disruptive manufacturing technology for low-cost, high-performance fiber-based packaging.
• In November 2022, Aptar Pharma collaborated with TFF Pharmaceuticals. The collaboration focuses on the development and testing of dry powder vaccines administration using TFF Pharmaceutical's Thin Film Freezing technology and Aptar Pharma's proprietary intranasal Unidose (UDS) powder nasal spray system.

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