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Global Pharmaceutical Packaging Market was valued at USD 116.6 Bn in 2021 and is expected to record a revenue of US$ 267.4 Bn by end of the year 2027. In terms of revenue, the global market size recorded substantial growth at a CAGR of 14.8% during the forecast period of 2022 – 2027. The market holds an opportunity of US$ 150.8 Bn during 2022-2027.
The study of the global pharmaceutical packaging market provides the market growth over the forecast period, reflecting market recovery from the COVID – 19 impact and shift towards the lucrative trend. The research report provides a detailed analysis of the global pharmaceutical packaging market across 20 chapters, totaling 315 pages, with 72 data tables, and 213 figures.
Packaging is an essential part of the pharma industry. It is usually involved in dosing, dispensing, and the use of pharmaceutical products. Most medicines (~51%) have been taken orally by tablets or in the form of capsules, which are either packed in blister packs or plastic pharmaceutical bottles. Powders, pastilles, and liquids also make up part of the oral medicine intake. The pharmaceutical industry is growing at a positive rate in developing nations. This growth of the pharmaceutical industry is driving the pharmaceutical packaging market. Major growth is expected in developing countries such as Brazil, Russia, India, and China. In the year 2019, North America accounted for 48.7% of the world's pharmaceutical sales as compared to 22.9% of the sales by Europe.
Report Scope – Global Pharmaceutical Packaging Market
The market research study report provides a comprehensive analysis of the growth and opportunity related to the global pharmaceutical packaging industry. As the growing demand for primary packaging for pharmaceutical products and increasing awareness related to health, the report covers regional analysis of the pharmaceutical packing market, the regions tracked in the report include Asia Pacific, North America, Europe, Middle East & Africa, and South America.
The report provides a detailed analysis based on the following segments – By Packaging Type, By Product, By Application, By End Use, and By Prescription Type. As per the researchers, in the year 2020, the primary packaging segment held the highest market share of 72% and it is forecasted that the secondary segment holds the highest CAGR of 16.4% during the forecast period.
As per the geographical analysis of the global pharmaceutical packaging market, in 2020, the North America pharmaceutical packaging market holds the highest share across the globe of 41%. The key dominance of the regional market is attributed to a huge pharmaceutical production base and the ability to offer technological breakthroughs to pharmaceutical packaging. The Asia Pacific pharmaceutical packaging market is growing with the highest annual growth rate of 16.1% during the forecast period based on market determinants such as increasing technology breakthroughs in the healthcare sector in countries such as Singapore, China, Malaysia, Thailand, and others, as well as rise in urbanization and changing lifestyles in APAC region.
The Global Pharmaceutical Packaging Market report provides insights on recent developments of the market and provides a 360 view of the market covering every segment and major sub-segments.
The research report provides a growth analysis of the global pharmaceutical packaging market considering several factors such as growing awareness of health issues and increasing growth in the pharmaceutical industry. Large population and demographic factors such as higher life expectancy and growing young population are some of the major growth factors which are highlighted in the global pharmaceutical packaging market report.
The report also provides a comprehensive product price analysis to determine the cost of packaging involved in the market, it shows the amount incurred in the packaging of the pharmaceutical products such as cost of labor, transportation, storage cost, many companies only consider the cost of purchasing packaging materials like boxes and tape.
Impact of COVID- 19 on the Global Pharmaceutical Packaging Market
Covid-19 had a negative impact on the healthcare industry. Shortage of infrastructure, manpower in hospitals and disruptions in the supply chain, lack of preparedness, shortage of essential drugs, and other factors were responsible for proper functioning at the time of emergency resulting in a negative impact on the healthcare industry. China, which was and is a major import destination of medical equipment, healthcare supply chain requirements, and drug formulations was suffering under the pandemic which resulted in the loss of stability in both the healthcare and pharmaceutical sectors. The worldwide medical supply chain is still in a state of imbalance but is stabilizing as per the new normal.
The report provides a graphical presentation of Covid – 19 impacts on the global pharmaceutical packaging market which shows how pandemic affected the market and in late 2019 and in short term the market demand increased and how it will be stabilized during the forecast years.
The Global Pharmaceutical Packaging Market report covers a detailed analysis of several companies.
The report covers detail of key players present in the global marketplace which includes – Business Overview, Company Financials, Key Officials, List of Products, Recent Developments, and Strategy Outlook. Key players profiled in the reports are Amcor, AptarGroup, Inc., Becton, Dickinson, and Company, Berry Global, Inc., Catalent (US), CCL Industries, Inc., Comar, LLC, Drug Plastics Group, Gerresheimer AG, International Paper, Owens Illinois, Inc., Schott AG, SGD Pharma, Vetter Pharma International, West Pharmaceutical Services, Inc., and WestRock Company.
According to the research, the global pharmaceutical packaging market is observed to have monopolistic competition and is projected to shift towards an oligopoly nature in the forecast period. Companies like Amcor Ltd., West Pharmaceutical Service Inc., Gerresheimer AG, and Becton, Dickson & Company are holding around 12.60% of the market share.
By Packaging Type
By Prescription Type
|Market Size Value in 2021||US$ 116.6 Bn|
|Expected Revenue in 2027||US$ 267.4 Bn|
|Unit||Value (USD Bn)|
|Segments covered||By Packaging Type, By Product, By Application, By Prescription Type, By End-Use, and Region|
|Key Companies||Amcor, AptarGroup, Inc., Becton, Dickinson, and Company, Berry Global, Inc., and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
Packaging plays a vital role in the pharmaceutical industry as it protects the product from heat and cold and it affects the safety and stability of drugs.
Primary, secondary, and tertiary are some different types of packaging available in the pharmaceutical industry.
Secondary type of packaging is projected to grow at a CAGR of 16.4% during the forecast period.
The market size of pharmaceutical packaging is US$ 116.6 Billion in the year 2021.
Cardboard, paper, plastics, glass, metals, and rubbers are used in packaging of pharmaceutical products.
The report analyzed a ‘A’ shape curve, shortage of infrastructure, manpower in hospitals and disruptions in supply chain, lack of preparedness, shortage of essential drugs, and other factors, declined the healthcare industry.
North America held the highest share of 41% in 2020.
Asia Pacific pharmaceutical packaging market is projected to grow at a CAGR of 16.1% in the forecast period 2022 – 2027.
The U.S. holds 89% of the market share in the North America pharmaceutical packaging market in 2020.
Amcor Ltd., West Pharmaceutical Service Inc., Gerresheimer AG, Becton, Dickson & Company are the major key players present in the global pharmaceutical packaging market.
Growth in pharmaceutical industry and increasing health awareness are some major factors which influence the growth of the global marketplace.
The global pharmaceutical packaging market is projected to grow at a CAGR of 14.8% in the forecast period.
Packaging type, product used in packing, application, prescription type, and end use of the product are the segments in the pharmaceutical packaging market.