The pharmaceutical packaging market size was USD 83.6 billion in 2019 and is projected to reach 115.9 billion in 2027 wth a CAGR of 6.8% during the forecast period 2020 to 2027.
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 life expectancy is expected to drive the market. In addition, the rising focus of pharmaceutical packaging manufacturers on sustainability with the adoption of biodegradable and recyclable materials is likely to further fuel the growth. Moreover, the 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.
The 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 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 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.
The 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.
The study has considered the base year as 2019, which estimates the market size of market and the forecast period is 2020 to 2027. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the market. The report provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). The report covers key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.
Material Insights
On 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 a 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
On 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 the 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 Insights
On 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 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 shifts 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
North 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 the U.S., Canada, and Mexico. The 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.
The Pharmaceutical Packaging market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Pharmaceutical Packaging market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Pharmaceutical Packaging market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Pharmaceutical Packaging market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Pharmaceutical Packaging market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Pharmaceutical Packaging capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Pharmaceutical Packaging by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Pharmaceutical Packaging market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Pharmaceutical Packaging market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Pharmaceutical Packaging market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Pharmaceutical Packaging industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Pharmaceutical Packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Pharmaceutical Packaging market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Pharmaceutical Packaging market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Pharmaceutical Packaging market. These factors have benefited the growth of the global market for Pharmaceutical Packaging. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Pharmaceutical Packaging. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Key market players including,
Amcor plc (Australia), Gerresheimer AG (Germany), Berry Global, Inc.(US), Schott AG (Germany), AptarGroup, Inc. (US), West Pharmaceutical Services, Inc. (US), Becton, Dickinson, and Company (US), Nipro Corporation (Japan), Catalent, Inc. (US) and WestRock Company (US), Total 25 major players covered
Segmentation
By Type,
By Raw Material,
By Drug-Delivery Mode,
By Product Type,
By Region,
In this study, the years considered to estimate the market size of Pharmaceutical Packaging are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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