Pharmaceutical Contract Packaging Market (By Product: Primary, Secondary, Tertiary; By Material: Paper & Paperboard, Plastics & Polymers, Aluminum Foil and Others) - Global Industry Analysis, Market Size, Share, Growth, Trends, Regional Outlook and Segment Forecasts 2024 - 2033
The global pharmaceutical contract packaging market size was estimated at USD 12.99 billion in 2023 and is projected to surpass around USD 30.76 billion by 2033 with a registered compound annual growth rate (CAGR) of around 9% during the forecast period 2024 to 2033.
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The U.S. pharmaceutical contract packaging market size was estimated at USD 3.20 billion in 2023 and is predicted to be worth around USD 8.03 billion by 2033, at a CAGR of 9.6% from 2024 to 2033.
North America accounted largest revenue stake of the global pharmaceutical contract packaging market in 2023, and offers plentiful growth prospects to market vendors throughout the assessment period. The mounting value of the U.S. pharmaceutical exports, the snowballing healthcare expenditure, and the intensifying elderly population are some of the noteworthy influences that will support growth of pharmaceutical contract packaging market in this region during upcoming years.
Robust R&D and the existence of vital global participants in pharmaceutical drugs manufacturing in North America is reinforcing contract pharmaceutical packaging outlook in the region. Followed by North America, APEJ is supposed to be the significant market for contract pharmaceutical packaging on account of booming pharmaceuticals industry in countries including China and India.
The Europe pharmaceutical contract packaging market size was calculated at USD 4.08 billion in 2023 and is projected to expand around USD 10.15 billion by 2033, poised to grow at a CAGR of 9.5% from 2024 to 2033.
Year | Market Size (USD Billion) |
2023 | 4.08 |
2024 | 4.47 |
2025 | 4.90 |
2026 | 5.37 |
2027 | 5.88 |
2028 | 6.44 |
2029 | 7.05 |
2030 | 7.72 |
2031 | 8.46 |
2032 | 9.27 |
2033 | 10.15 |
Pharmaceutical packaging of drugs is a vital facet as the product requires being harmless for patient. Requirement of specialty of packaging has boost up an alternate industry that is contract manufacturing that is being now emerging progressively. Major pharma companies are now subcontracting the task of packaging of end product to those companies who are accomplished and dedicated in handling packaging of medicines. Growth in number of elderly populations, stringent norms on packaging by governing agencies and rising public interest for modernized packaging are certain of the influences which will boost growth of pharmaceutical contract packaging market across the world.
Growth in the pharmaceutical sector will drive the need for pharmaceutical packaging in the marketplace. There is upsurge in the requirement for the drug delivery devices and blister packaging which is also predictable to augment the growth of the market. Intensifying health consciousness and swelling burden on the pharma firms for reduction of the cost is additional reason which is anticipated to further accelerate the growth of the market. Budding over the counter market will also fuel the market growth. Increasing demand for better healthcare facilities will also accelerate the market growth.
Producing tailored and innovative packaging has uncertainties, henceforth, R&D spending in invention is challenging, which is inspiring pharmaceutical producers to elect for contract packaging services that have capable know-how and mandatory infrastructure. The growing production of low-priced generic medicines of branded drugs at the time of patent expiration is projected to bolster the demand for pharmaceutical contract packaging worldwide.
Report Coverage | Details |
Market Size in 2023 | USD 12.99 Billion |
Market Size by 2033 | USD 30.76 Billion |
Growth Rate from 2024 to 2033 | CAGR of 9% |
Largest Market | North America |
Fastest Growing Market | Asia Pacific |
Base Year | 2023 |
Forecast Period | 2024 to 2033 |
Segments Covered | By Product Type, and By Material Type |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Among different type of packaging, in 2023, primary packaging segment reported for the major revenue share of more than 40% and predicted to perceive substantial growth during years to come. The primary packaging further classified into vials, bottles, blister packs, ampoules and others. This type of packaging estimated to govern the global pharmaceutical contract packaging market during coming years owed to the cumulative outsourcing of primary packaging activities because of the deficiency of in-house competences and capacities.
Pharmaceutical contract packaging involves different types of packaging material such as paper & paperboard, plastics &polymers, aluminum foil and other. Out of these segments, glass segment held the considerable revenue share of more than 35% in 2023. This growth is attributed to mid sized and small pharmaceutical companies who do not possess glass wrapping abilities. Further, low-priced service offered by the Development and Manufacturing Organizations (CDMOs)and Contract Packaging Organizations (CPOs) for pharmaceutical glass wrapping are likely to spur the market. Plastics and polymers segment is predicted to eyewitness momentous growth rate over the prediction period due to the rising demand for the plastic packaging sector in pharmaceuticals for the delivery and storage of medicines.
The requirement for plastic bottles is escalating from the pharmaceutical sector. This is on account of advantage of plastic bottles for avoiding the requirement for tertiary packaging and safeguards the safety of pharmaceutical product through the supply chain. Ophthalmic, syrups, and nasal medicines are frequently packed in plastic bottles.
Segments Covered in the Report
By Product
By Material
By Regional Outlook
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