Pharmaceutical Packaging Industry | Forecast 2030
Pharmaceutical Packaging Industry Data Book - Plastic Pharmaceutical Packaging, Parenteral Containers, Primary Pharmaceutical Packaging and Pharmaceutical Contract Packaging Market
Grand View Research’s pharmaceutical packaging industry databook is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
Pharmaceutical Packaging Industry Data Book Coverage Snapshot
Markets Covered
Pharmaceutical Packaging Industry USD 117,007.3 million in 2021Plastic Pharmaceutical Packaging Market Size USD 43,377.7 million in 2021, 9.1% CAGR (2022-2030)Parenteral Containers Market Size USD 7,007.6 million in 2021, 13.9% CAGR (2022-2030)Primary Pharmaceutical Packaging Market Size USD 88,504.2 million in 2021, 9.7% CAGR (2022-2030)Pharmaceutical Contract Packaging Market Size USD 42,915.4 million in 2021, 9.9% CAGR (2022-2030)
Access the Global Pharmaceutical Packaging Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Pharmaceutical Contract Packaging Market Growth & Trends
The global pharmaceutical contract packaging market size is expected to reach USD 47.7 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.1%, from 2023 to 2030. Access to advanced technologies, cost-saving, and focus on core competencies are anticipated to propel market growth.
The growing pharmaceutical industry with high competition within the market is the major factor driving the market. Pharmaceutical companies are outsourcing packaging activities to third parties, mainly in emerging nations such as China, India, and Brazil. Further, rising pricing pressure on pharmaceutical companies is boosting the demand for contract packaging services in the industry. The stringent regulatory scenario in developed countries and changing regulations in emerging countries are driving the market.
Moreover, large Contract Packaging Organizations (CPOs) and Contract Development and Manufacturing Organizations (CDMOs) are continually acquiring small contract service providers to fill any gaps in the value chain or expand their existing portfolios. As smaller service providers have customer bases that comprise small and mid-sized pharmaceutical companies, it allows larger CPOs and CDMOs to better compete with small service providers. Thus, maintaining the threat of new entrants at a moderate level for larger CPOs and CDMOs.
In addition, lack of in-house wrapping capabilities, expertise, and budget constraints are the major issues faced by small pharmaceutical companies in the industry. Contract packaging service providers are recognized as a practical approach to curbing such problems of small companies owing to the low-cost service offering. The lack of resources and budgets has prompted many small pharmaceutical companies to establish mutually beneficial relationships with CPOs and CDMOs. Contract service providers are making significant attempts to meet their client’s expectations and provide highly sophisticated wrapping facilities.
The stringent regulations in developed regions such as North America and Europe are expected to drive the market over the forecast period. For instance, compulsory barcodes system for pharmaceutical wrapping and the transfer of large volumes of data related to the supply of medicines under serialization legislation.
Order your copy of the Free Sample of “Pharmaceutical Packaging Industry Data Book - Plastic Pharmaceutical Packaging, Parenteral Containers, Primary Pharmaceutical Packaging and Pharmaceutical Contract Packaging Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Competitive Insights
The global pharmaceutical packaging market is highly fragmented with the presence of large and medium-sized international companies as well as small-sized domestic players. The global market is steadily moving toward sustainable packaging owing to rising stringent regulations regarding the use of excessive plastic packaging coupled with growing sustainability awareness among consumers.
The production of vaccines for COVID-19 from the end of 2020 has generated exponential demand for primary packaging products especially parenteral packaging products, thus impacting the market positively. This is expected to largely benefit glass vial manufacturing companies such as Owens Illinois Inc., AptarGroup, Inc, Gerresheimer AG, and Schott AG.
Furthermore, these products such as strips, blisters, flat pouches, bags, tubes, stand-up pouches, and sachets have been witnessing significant traction in the market since the past few years. Flexible packaging requires less energy for its manufacturing and offers significant savings in transportation costs due to its lightness as compared to rigid packaging products such as plastic bottles and jars.
Go through the table of content of Pharmaceutical Packaging Industry Data Book to get a better understanding of the Coverage & Scope of the study
In March 2022, SGD Pharma and Stevanato Group together launched ready-to-use (RTU) sterile 100 mL type I molded glass vials using SG EZ-fill packaging technology.
In March 2022, Gerresheimer opened a new plant in Ohio, Berlin for the production of plastic pharmaceutical containers. This new production plant will produce plastic packaging of the Duma Twist-Off square brand with a 40 ml filling volume with a child-resistant closure and desiccant for filling solid medications.
In April 2021, Amcor plc announced development of recyclable Polyethylene-based thermoform blister packaging under the brand name AmSky™. The development is aimed at sustainable packaging that can reduce carbon footprint. The product is expected to reduce carbon footprint up to 70%.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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