Pharmaceutical Packaging Market - Forecasts from 2024 to 2029

The global pharmaceutical packaging market is evaluated at US$95.538 billion for the year 2022 growing at a CAGR of 16.94% reaching the market size of US$134.476 billion by the year 2029.

The growth of the pharmaceutical packaging market is driven by the increasing demand for drug delivery devices, technological advancements, and a reduction in the packaging cost with the advancement in technology. A rise in the demand for reusable and speciality packaging is also expected to bolster the market growth during the given time frame. Additionally, with the growing e-commerce and online purchasing trend worldwide, drugs also need robust packaging keeping in view the safety of the product. Hence, the growing e-commerce industry is also driving the growth of the global pharmaceutical packaging market in the forecast period and in the upcoming years. On the basis of geography, North America is expected to hold a major share owing to the early adoption of technology, and the highest health expenditure of the United States among all the developed regions of the world. While the Asia Pacific region is expected to be the fastest-growing, this is due to the growing pharmaceutical industry, especially in the emerging economies of India and China. Also, with the prevalence of chronic diseases in the APAC region, the market for pharmaceutical packaging is projected to thrive due to the increasing demand for drugs supported by effective treatment procedures. Furthermore, growing health awareness among individuals worldwide is expected to provide an opportunity for the market to grow at a sustainable pace in the upcoming years.

Plastic packaging holds a significant market share

Plastic is a widely used material for pharmaceutical packaging due to its versatility, sustainability, durability, and flexibility. Plastic bottles made of different materials, such as polyvinyl chloride, polyethylene, polypropylene, and polystyrene, are used in pharmaceutical packaging. The plastic used in this industry for marketing and storage is clear, strong, and lightweight. Parenteral solution pouches, blister packs, sachets, prefilled syringes and inhalers, and bottles are all packaged with plastics. Pharmaceutical packaging materials must be easily handled, chemically inert, and have a low permeability to water vapour. Furthermore, packaging materials must adhere to stringent regulations set forth by regulatory bodies because they come into direct contact with biological agents and pharmaceuticals.

Growing need for pharmaceutical packaging

The packaging faces stiff competition from other forms of packaging. For commercial purposes, the pharmaceutical industry is also looking for glass material packaging. Pharma companies invest in pharmaceutical packaging for a variety of reasons, including loadability, breakages, and unit cost. To compete with alternative options, manufacturers are creating sturdy, lightweight bottles for pharmaceuticals. It is imperative to design and develop suitable packaging for pharmaceutical items in order to guarantee the safe transportation, storage, and dispensing of medications - some of which have the potential to save lives. The two materials most frequently used in pharmaceutical packaging are plastic and glass. Glass is usually preferred because of its features that make it easy to clean and allow you to see what's inside.

North America is expected to grow at a high rate during the forecast period.

The global pharmaceutical packaging market is estimated to hold the largest market share owing to the highest health spending in the United States, healthcare services are very expensive, most of the people in the country have medical insurance, and the country does not have a universal healthcare system. Additionally, there is a rising trend in the United States where individuals are moving from volume-based to value-based care. A shift in the healthcare market dynamics is being observed which is further leading to better patient outcomes at lower costs. Changing demographics like an aging population, and a high prevalence of people with chronic diseases are further driving the growth of the pharmaceutical packaging market in the forecast period. With the high prevalence of diseases, patients look forward to effective treatments and this has led to advancements in technology and services providing consumers be in greater control of their own health management. Designing effective healthcare strategies according to the highly aware and curious citizens in addition to the unique healthcare system among the other developed regions has created a need for the provision of better health services emanating from the growth of the global pharmaceutical packaging market in this region during the forecast period.

Market key launches

• In November 2023, a Memorandum of Understanding (MOU) has been disclosed between Amcor Plc, a well-known international business recognized for its creation and manufacturing of environmentally friendly packaging solutions, and NOVA Chemicals Corporate, a top manufacturer of sustainable polyethene. Under the terms of the agreement, NOVA Chemicals Corporate will supply mechanically recycled polyethylene resin (rPE), which will be used to make flexible packaging films. By utilizing more rPE in flexible packaging applications, this initiative is in line with Amcor's commitment to promoting packaging circularity.
• In July 2023, Constantia Flexibles unveiled REGULA CIRC, a novel coldform foil-based pharmaceutical packaging solution. The packaging substitutes a PE sealing layer for traditional PVC, which lowers the amount of plastic and increases the amount of aluminium. This optimization boosts material recovery during recycling procedures in addition to improving the packaging's sustainability.

Segmentation:

By Raw Material

• Plastics and Polymers
• Glass
• Paper and Paperboard
• Metal Foils
• Others

By Pharmaceutical Dosage Type

• Liquid Dosage
• Solid Dosage
• Semi Solid and Pressurized Products

By Packaging Type

• Blister Packs
• Pre-Fillable Syringes
• Medical Specialty Bags
• Vials and Ampoules
• Pouches and Strip Bags
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• UK
• Germany
• France
• Spain
• Others
• Middle East and Africa
• UAE
• Saudi Arabia
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Others