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Industry Insights, Market Size, CAGR, High-Level Analysis: Pharmaceutical Packaging MarketThe global pharmaceutical packaging market size was valued at USD 98.58 billion in 2019 and is anticipated to expand at a CAGR of 8.5% over the forecast period. The growing pharmaceutical industry most notably in several emerging economies including China, India, and Brazil on account of increasing population, rising disposable income, and growing focus on increasing the life expectancy is expected to drive the market. In addition, rising focus of pharmaceutical packaging manufacturers on sustainability with the adoption of biodegradable and recyclable materials is likely to further fuel the growth. Moreover, growing demand for convenient packaging types, such as prefilled syringes and auto injectors is anticipated to create growth opportunities for the companies operating in the market. U.S. is the largest pharmaceutical market in the world. In 2019, the country held the largest share of the North America market for pharmaceutical packaging. In addition, the presence of several major pharma manufacturers is anticipated to positively influence the growth. Plastics & polymers material segment accounted for the largest revenue share in the U.S. market and is expected to continue its dominance over the forecast period. Growing demand for patient-oriented medicines such as biologics is further anticipated to have a positive impact on the market growth. Biologics are used for the treatment of illnesses where other treatments are unavailable. They are manufactured using microorganisms, animal, human, or plant cells and generally tend to be heat sensitive and prone to contamination. This, in turn, is expected to drive the demand for specialized packing thereby benefitting the market growth. Demographic trends including a growing population coupled rapidly aging population is expected to increase the demand for pharmaceutical products thereby propelling the demand for pharmaceutical packaging over the forecast period. In addition, growing demand for generic drugs owing to their affordability coupled with new drug developments is further anticipated to boost the demand for pharmaceutical packaging over the forecast period. Efficient packing of pharmaceuticals essentially prevents contamination, and provides drug safety, and convenience of delivery, and handling. Pharmaceutical packaging is thus, required to balance several complex considerations. However, rising packaging costs owing to stringent regulations and anti-counterfeiting efforts is likely to restrain the market growth. Thus, curbing these escalating packaging costs is one of the challenges faced by pharmaceutical packaging manufacturers.
Material Insights of Pharmaceutical Packaging MarketOn the basis of material, the market has been segmented into plastics & polymers, paper & paperboard, glass, aluminum foil, and others. In 2019, the plastics & polymers material segment accounted for the largest revenue share and is anticipated to continue its dominance over the forecast period. Different variants of plastics & polymers such as polyvinyl chloride, polypropylene, polyethylene terephthalate, polyethylene, and polystyrene among others are widely used for manufacturing various pharmaceutical packaging products. Polypropylene material is anticipated to have the highest growth rate over the forecast period. Polypropylene is considered as an economical material and is being widely employed in the packaging industry. In addition, polypropylene offers a combination of physical, mechanical, thermal, and electrical characteristics. Moreover, it also provides resistance against organic solvents, degreasing agents, and electrolytic attack. Furthermore, it is lightweight material that exhibits a higher tensile strength, and working temperature coupled with reasonable chemical resistance. All these factors, therefore, make it a suitable material for manufacturing packing solutions. The glass material segment accounted for a revenue share of 17.18% in 2019. Glass is an inorganic material that is principally made up of silica. Glass is used for manufacturing containers that are used for packing pharmaceutical products including parenteral, and non-parenteral preparations as well as pharmaceutical powders among others.
Product Insights of Pharmaceutical Packaging MarketOn the basis of product, the pharmaceutical packaging market has been broadly segmented into primary, secondary, and tertiary packaging. In 2019, the primary pharmaceutical packaging product segment accounted for the largest revenue share of 75.16% and is projected to maintain its dominant position over the forecast period. Product advantages, such as prevention from contamination, quality assurance, travel safety through the supply chain, and enhanced performance at the point of use are anticipated to fuel the demand. The primary pharmaceutical packaging product segment has been sub-categorized into plastic bottles, caps and closures, parenteral containers, blister packs, prefillable inhalers, pouches, medication tubes, and others. Plastic bottles accounted for the largest revenue share in 2019. Plastic bottles are widely used for packaging solid-dose oral Over-the-Counter (OTC) medicines, bulk as well as prescription dose of oral ethical drugs. The secondary product segment is likely to expand at a CAGR of 7.5% over the forecast period. The secondary packaging is a consecutive covering or package, which stores pharmaceutical packages for grouping purposes. Secondary packing is predominantly used for logistics as well as branding and display purposes. This product type is used not only to protect the drugs but also to protect the primary packaging. Tertiary packaging is used for wrapping or packaging a set of products with the aim to protect them. Typically, the tertiary packing is not visible to the end-use owing to the fact that it is usually removed by the retailers even before the products reach the pharmacy shelves. Some of the examples of tertiary packing include wood pallets, brown cardboard boxes, and shrink-wraps.
End-use InsightsOn the basis of end use, the market has been classified as pharmaceutical manufacturing, institutional pharmacy, contract packaging, retail pharmacy, and others. In 2019, pharma manufacturing accounted for the largest revenue share of 35.87% and is projected to maintain its leading position over the forecast period. The rising demand for better healthcare facilities coupled with a growing population is projected to have a positive impact on the growth in the forthcoming years. In addition, increasing government initiatives for the development of this industry most notably in the emerging countries are likely to strengthen the product demand over the forecast period. Market players are increasingly outsourcing the pharmaceutical packaging activities in order to save their time and expenses. Rising preference for outsourcing the packaging to capable and specialized contractors instead of investing in the packaging infrastructure, in turn is likely to boost the growth of the contract packaging segment over the forecast period. An increasing number of hospitals and nursing homes along with rising healthcare expenditure, and demographic shift are the factors likely to positively impact the institutional pharmacy market. This, factor in turn, is, expected to drive the demand for institutional packaging over the forecast period.
Regional Insights of Pharmaceutical Packaging MarketNorth America dominated the global market with a revenue share of 37.80% in 2019. The region is characterized by the presence of major pharmaceutical markets, such as U.S., Canada, and Mexico. U.S. is the largest pharmaceutical market worldwide. Factors that have driven the market include the large healthcare system in the country, high per capita income, and high investments in drug development. In addition, the presence of several major companies, such as Pfizer Inc.; Johnson & Johnson; Merck & Co., Inc.; Bristol-Myers Squibb Company; and AbbVie Inc. is further anticipated to benefit the regional growth. Asia Pacific is projected to register the fastest CAGR of 12% over the forecast period. China, India, Japan, and South Korea are the prominent regional markets. Steady economic growth coupled with the high population growth in the region is expected to fuel the product demand in the forthcoming years. In addition, increasing government regulations for drug safety are expected to further propel the regional growth.
Market Share Insights of Pharmaceutical Packaging MarketThe global market is fragmented in nature owing to the presence of several players operating at the regional as well as local levels. Some of the major market players include Amcor plc; Gerresheimer AG; AptarGroup Inc.; Becton, Dickinson and Company; Schott AG; and West Pharmaceutical Services Inc. Other prominent market players include Berry Global Inc.; WestRock Company; International Paper Company; Comar LLC; CCL Industries Inc.; and Vetter Pharma International. The key players are adopting various competitive strategies, such as mergers and acquisitions and product innovation. They also focus on investing in R&D activities for developing products that are sustainable as well as compliant with government regulations.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Pharmaceutical Packaging Market Research ReportThis report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global pharmaceutical packaging market report on the basis of material, product, end use, and region:
Material Outlook (Revenue, USD Million, 2019 - 2030)
- Plastics & Polymers
- Polypropylene (PP)
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Paper & Paperboard
- Aluminum Foil
Product Outlook (Revenue, USD Million, 2019 - 2030)
- Primary Pharmaceutical Packaging
- Plastic Bottles
- Caps & Closures
- Parenteral Containers
- Blister Packs
- Prefillable Inhalers
- Medication Tubes
- Secondary Pharmaceutical Packaging
- Prescription Containers
- Pharmaceutical Packaging Accessories
- Tertiary Pharmaceutical Packaging
End-use Outlook (Revenue, USD Million, 2019 - 2030)
- Pharmaceutical Manufacturing
- Retail Pharmacy
- Contract Packaging
- Institutional Pharmacy
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization 1.6. Data Validation & P | read more...