Pharmaceutical Packaging Market Size, Share, Growth, Trends, Segments, Drivers and Forecast to 2031

The global pharmaceutical packaging market accounted for $ 88,880 million in 2019, and is expected to reach $ 144,233 million by 2027, registering a CAGR of 6.1% from 2020 to 2027. The market is expected to witness a significant growth during the forecast period. The growth can be attributed to advanced manufacturing processes to develop sustainable and eco-friendly packaging solutions, increase in product innovations and merger & acquisition to support new demands. In addition, serialized tracking & tracing of drugs, emerging generic drug market, rapidly growing drug delivery market, increase in R&D activities and use of innovative packaging is driving the growth of the pharmaceutical packaging marketHowever, price volatility of raw materials, stringent government regulations and standard can also restrain growth of the pharmaceutical packaging market.

Pharmaceutical packaging is a packaging process for pharmaceutical preparations. It is done to protect medicines from environmental changes and to maintain the physical & chemical stability of the products (drugs & biological). Further, pharmaceutical packaging helps ensure the safety of medicines during transit, distribution, and storage of packaged products. The pharmaceutical industry is growing rapidly; thus, positively impacting the growth of the pharmaceutical packaging market. Furthermore, the demand for pharmaceutical packaging is expected to grow, owing to more and more companies rely more on packaging, labeling, and media to protect and promote their products.

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On the contrary, advancement in the biotechnology sector results in the introduction of new parenteral therapies, increase in demand for innovative packaging products, growth in use of the smart packaging for patient engagement & identification such as ActiveGuard Connect packaging and smart and ultra-thin ICS packaging. In addition, increase in patient-oriented medicines including biologics is expected to uplift the market growth of the pharmaceutical packaging market during the forecast period.

The global pharmaceutical packaging market is segmented on the basis of product, material, and region. By product, it is divided into parenteral containers, plastic bottles, blister packaging, closures, specialty bags, labels, and others. Based on material the market is divided into glass, aluminum foils, plastics and polymers, paper & paperboards, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.

Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).

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Key benefits for stakeholders– The study provides an in-depth analysis of the global xx market along with current trends and future estimations to elucidate imminent investment pockets.– A comprehensive analysis of factors that drive and restrict the market growth is provided in the report.– Comprehensive quantitative analysis of the industry from 2019 to 2027 is provided to enable stakeholders capitalize on the prevailing market opportunities.– Extensive analysis of key segments of the industry helps to understand xx of xx market used across the globe.– Key market players and their strategies have been analyzed to understand competitive outlook of the market.

List of key players profiled in the report– Amcor Ltd– Aptar Group, Inc.– Catalent Inc.– CCL Industries Inc.– Becton, Dickinson and Company– Gerresheimer AG– West Pharmaceutical Services, Inc.– Nipro Corporation– Berry Global Group, Inc.– SCHOTT Pharmaceutical Packaging– Huhtamaki PPL Ltd– SGD Pharma India Ltd– Uflex Limited

Key market segmentsThe global pharmaceutical packaging market segmentation is illustrated as follows:By Product– Plastic Bottle– Parenteral Container– Blister packing– Specialty Bags– Closures– Labels– Others

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By RegionNorth America– U.S.– Canada– MexicoEurope– UK– Germany– France– Italy– Spain– Rest of EuropeAsia-Pacific– China– Japan– India– Australia– South Korea– Rest of Asia-PacificLAMEA– Brazil– South Africa– Saudi Arabia– Rest of LAMEA

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