ID: MRFR/PNT/0783-CR | August 2021 | Region: Global | 235 pages
Pharmaceutical packaging market is projected to be worth USD 265.17 Billion by 2030, registering a CAGR of 9.5% during the forecast period (2022 - 2030), The market was valued at USD 117.17 billion in 2021.
The pharma packaging is used for protecting the products, identifying them, and giving out necessary information regarding the ingredients and compliance of the pharma products. The rise in demand of the pharma industry has contributed to the expansion of the pharma business in the marketing sector.
Globally, the pharma market expands up which increases the demand for pharma growth. It aroused up the demand for the consumption of active pharma products within the generic injectables classes of medicines. Chemicals along with the ion-exchange process are used for the creation of and enhancing the goods. This resulted in reducing up the coefficient of frictional force and damaging the resistant solutions. In the next upcoming years, it was found that the market projects up the demand for packaging materials in improving the pharma business. The demand and supply of the materials have risen during the forecast period.
The impact f COVID threatened the whole world. The movement of lockdown and shutdown hindered manufacturing. The majority of the manufacturing units experienced shutdown. A change in consumer behavior was marked. The supply chain process was interrupted. COVID led to the downfall of trade activities. The market is also coping with the Covid effects and gaining it’s pace.
Some of the key players are encouraging in setting up more firms in the developing countries. This can be done by FDI initiative schemes which will help in improving the economy of the nation. This enforces the increase in the number of industries, especially in this region. Urbanization and industrialization in the developing countries give and raise the profitable investment prospectus of the industry. Some of them are
Globally, the pharmaceutical packaging industry is being driven up by various advancements of technology, rise in demand products from the pharma industry, upgrading up the shelf life of the pharma products. A rise in the scope of market expansion and increasing the demand for the product from the pharma industry act as a driving force for the market. Growth in the upliftment of the industry has raised the expansion of pharma products. Growth in setting up of more industries has helped in increasing respiratory disease and cancer in the developing countries. Using high-quality pharma products and the use of advanced technology has helped in increasing the industries of high market value.
Due to the demand for medicines, treatment, and some other items, the business in all these regions is expanding. The high growth in population in this region is raising the consciousness among the population and has raised growth opportunities. Increase in hospitals and more if healthcare centers in these regions are imposing much development. Pharmaceutical packaging raises the shelf life of the medicines increasing up the pharmaceutical packaging market size. Moreover, it was found that the pharma packaging gives huge protection to the products from rotting.
Applying insulation of the pharma packaging solutions become the challenging factor for growth. The variation in prices of raw materials pushes up the whole price of the raw materials. It was because of the rise in the disparity of materials. Transportation facility of these pharma products safely from one location to the other is another most important challenging factor so faced. The main manufacturers carry out these processes in the most effective way. Their packaging involves advanced packaging methods and the most advanced electronic packaging technologies.
variation in expenses of raw materials hampers up the expansion of pharmaceuticals packaging market size. The costs of packaging are rising in these years which will improve the market size and market growth. Due to the fluctuation in the prices of currency exchange rates, the costs of the raw resources decrease. Due to the variation in prices of the raw materials and chemicals, the profit margins so developed restraints up the market size.
The growth in the pharma market is spurring up. Globally, the pharmaceutical packaging industry is being classified as per the type, the material used applications, some of the packaging type, and based on region. As per the type, the market is being divided into rigid, semi-rigid, and flexible products. The rigid segment has occupied a dominant segment during the forecast period. The rigid part of the rigid market covers a market value of 44.3%. The rigid segment protects the products from biological contamination, physical contamination, and the external forces that change the quality of the food. What Is the reason why rigid packaging is mostly preferred? It protects products like pills, tablets from contamination. Based on the type of packaging, the pharmaceutical packaging market has been classified into primary packaging and secondary packaging. The primary packaging grows at a faster rate covering up to 72.3% of market value. The type of packaging that directly packages the product and directly packages the product is said to be secondary packaging. As per the material, the industry is again divided into plastic, paper, and paper board, use and use glass packaging. The paper and paperboard market achieves and grows at a faster rate from 2020 to 2023. The plastic segment in the year 2020, holds about 38.3% CAGR value. Due to the rise in barrier qualities and the inertness of the chemical value, plastic is in great demand and is helpful in packaging. These packaging methods so adopted help in the promotion and marketing of the pharma pills. As per the material, the market has been classified into glass, paper, paperboard, and many more. As per the applicant
Technology has brought improvement in the pharma field. Technology has helped in strengthening the product from external sources like moisture, air, oxygen, outer environmental temperature, and many more. Technology has brought innovation in the pharma products whereas the development of new products has helped the consumers for carrying out the authenticity of the new pharma products and preventing counterfeiting. Production of nano-enabled technology has helped the pharma products for improving their qualities of plastic barriers and signaling of the required information using high activities or scope in pharma packaging with improving its benefits among the population.
Based on the region, the market is classified into the North American region, some of the European region, South American region, along with the Middle East and African region. During the forecast period, it was marked that the North American region has experienced certain steady growth. Here the growth of the market is being focussed on by the key players which helped in expanding the business. They have adopted certain strategic developments which will help in the expansion of the using pharmaceutical packaging market size.
The report gives a good and clear view of the market scenario. It signifies the impact of COVID on the market. It gives importance to the recent developments and the growth factors taking place. It gives detailed information about the market segmentation taking place. It gives importance to the strategies so applied by the key players.
|Market Size||2030: USD 265.17 Billion|
|CAGR||9.5% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material , Type , Packaging and, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Amcor Limited (Australia) SCHOTT AG (Germany), Owens-Illinois Inc. (US), Sonoco Products Company (US), West Pharmaceutical Services, Inc. (US), WestRock Company (US), Berry Global Inc. (US), CCL Industries, Inc. (Canada), AVERY DENNISON CORPORATION (US) International Paper (US), Comar, LLC (US), Gerresheimer AG (Germany).|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Major types of pharmaceutical packaging include bottles, aerosol packs, tubes, blister packs, and sachets.
Global pharmaceutical packaging market is expected to exhibit a strong 9.5% CAGR over the forecast period till 2030.
The growing pharmaceutical industry is likely to be the major driver for the global pharmaceutical packaging market.
North America is likely to hold the largest share in the global pharmaceutical packaging market due to the strong R&D going on in the region in the area of developing new, innovative, and more effective forms of pharmaceutical packaging.
Leading players in the global pharmaceutical packaging market include Schott AG, Amcor Ltd., and Sonoco Products Company, among others.
Due to the difference in shifting prices, the costs of polystyrene prices rise. Due to the rise in costs of raw materials, the production rate increases along with the costs in distribution prices. This results in raising the prices of high pharmaceutical packaging. The key manufacturers are turning to use recycled products along with agricultural waste and recycled forms of plastic waste. This deteriorates the pharmaceutical packaging market value.
As per the segment, the market has been classified into genetic drugs, medicals, types of equipment, branded drugs, test kits, and Neutra cuticles. The test kit segment covers a large growth during the forecast period. Genetic drugs during 2020, hold a major CAGR value of 33.2% globally and regionally.