Pharmaceutical Packaging Market (By Product: Tertiary Pharmaceutical Packaging, Secondary Pharmaceutical Packaging, and Primary Pharmaceutical Packaging; By Material: Paper & Paperboard, Plastics & Polymers, Glass, Aluminum Foil, and Others; By End-use: Retail Pharmacy, Pharmaceutical Manufacturing, Institutional Pharmacy, Contract Packaging, and Others) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027
The global pharmaceutical packaging market was valued at US$ 98.83 billion in 2019 and expected to reach US$ 191.21 billion by 2027, with at a compound annual growth rate (CAGR) of 8.6% during the forecast period 2020 to 2027.
Significant growth in the pharmaceutical industry mostly in the developing economies that include India, China, and Brazil because of rising disposable income, increasing population, and increasing focus on the life expectancy anticipated to be the major driverfor the market growth. In addition, increasing focus of pharmaceutical packaging solution providers on sustainability along with the adoption of recyclable and biodegradable materials is likely to boost the market growth. Moreover, rising preference for convenient packaging types that include auto injectors and prefilled syringes estimated to create immense growth opportunities for the industry players operating in the market.
Increasing demand for patient-oriented drugs and medicines further expected to positively influence the market growth. Some medicines are manufactured using animal, microorganism, plant, or human cells and are commonly prone to contamination as well as are heat sensitive, this in turn estimated to fuel the demand for specific packing solutions leading to the growth in the pharmaceutical packaging market.
Primary pharmaceutical packaging product segment captured the maximum value share of nearly 75% and projected to retain its position over the analysis period. Product advantages that include quality assurance, prevention from contamination, safety during transportation, and enhanced performance are the major factors that anticipated to propel the product demand over the upcoming period.
The primary packaging product segment has been further classified into medication tubes, caps &closures, plastic bottles, blister packs, parenteral containers, pouches, prefillable inhalers, and others. Plastic bottles are the widely used product for packaging various types of medicines and thus emerged as the leader in the primary packaging products.
The secondary product segment projected to witness a CAGR of approximately 7.5% over the forecast period. The secondary packaging refers to a consecutive covering or package that are mostly used for the grouping of pharmaceutical packages. They are largely used for logistics and transportation along with display and branding purposes. This type of packaging is used for protecting drugs as well as the primary packaging.
In 2019, pharmaceutical manufacturing held the largest revenue share of around 36% and projected to maintain the same trend over the forthcoming years. Increasing demand for better medical facilities along with rising population projected to impact positively on the market growth. In addition, favorable government initiatives supporting the development of healthcare industry mostly in the developing countries estimated to boost the segment growth over the analysis period.
Drug or medicine manufacturers are significantly outsourcing the pharmaceutical packaging activities for saving their expenses and time both. Increasing preference for outsourcing service rather than investing on the establishment of packaging infrastructure projected to propel the growth of contract packaging segment during the upcoming years.
North America led the global market accounting for a value share of around 38% in 2019. The region witnesses significant presence of leading pharmaceutical players in countries that include Canada, the U.S., and Mexico. U.S. registered as the largest pharmaceutical market globally because of developed healthcare infrastructure in the country, high investments in drug development, and high per capita income. In addition, the presence of large number of leading healthcare product manufacturers, such as Johnson & Johnson; Pfizer Inc.; Bristol-Myers Squibb Company; Merck & Co., Inc.; and AbbVie Inc. further expected to contribute prominently towards the growth of the region.
The Asia Pacific projected to witness the fastest growth rate of nearly 12% over the forthcoming years. Japan, India, China, and South Korea are some of the prominent markets because of rapidly increasing population along with steady economic growth in the region estimated to propel the packaging demand in the upcoming years. Further, supportive government regulations related to drug safety expected to further boost the growth of the region.
Key Companies & Market Share Insights
The global pharmaceutical packaging market is highly fragmented in nature due to the presence of several leading players operating at both local as well as regional levels. Key market players adopt various inorganic growth strategies to gain the competitive advantage in the global market. They also invest prominently in the R&D sector for the product development and enhancement that.
Some of the prominent players in the pharmaceutical packaging market include:
- Becton, Dickinson and Company
- Amcor Plc
- AptarGroup, Inc.
- Gerresheimer AG
- Drug Plastics Group
- Schott AG
- West Pharmaceutical Services Inc.
- Owens Illinois Inc.
- Berry Global, Inc
- SGD S.A.
- WestRock Company
- International Paper Company
- CCL Industries Inc.
- COMAR LLC
- Vetter Pharma International
Segments Covered in the Report
This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of product, material, application, and region:
- Tertiary Pharmaceutical Packaging
- Secondary Pharmaceutical Packaging
- Pharmaceutical Packaging Accessories
- Prescription Containers
- Primary Pharmaceutical Packaging
- Caps & Closures
- Plastic Bottles
- Parenteral Containers
- Prefillable Inhalers
- Blister Packs
- Medication Tubes
- Paper & Paperboard
- Plastics & Polymers
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- Aluminum Foil
- Retail Pharmacy
- Pharmaceutical Manufacturing
- Institutional Pharmacy
- Contract Packaging
By Regional Outlook
- North America
- Asia Pacific
- South Korea
- Rest of the World
Frequently Asked Questions About This Report
Precedence Research says that the global pharmaceutical packaging market was valued at US$ 98.83 billion in 2019 and expected to reach US$ 191.21 billion by 2027.
The global pharmaceutical packaging market is growing at a compound annual growth rate (CAGR) of 8.6% during the forecast period 2020 to 2027.
Growing pharmaceutical industry especially in the developing countries because of high spending on healthcare infrastructure growth along with rising health awareness in the countries expected to prominently drive the market growth. Further, increasing demand for patient-oriented drugs and medicines is the other most important factor that triggers the demand for pharmaceutical packaging solution.
Primary pharmaceutical packaging product segment captured the maximum value share of nearly 75% and projected to retain its position over the analysis period.
Some of the key players operating in the market are Becton, Dickinson and Company, Amcor Plc, AptarGroup, Inc., Gerresheimer AG, Drug Plastics Group, Schott AG, West Pharmaceutical Services Inc., Owens Illinois Inc., Berry Global, Inc, SGD S.A., WestRock Company, International Paper Company, CCL Industries Inc., COMAR LLC, and Vetter Pharma Internationalamong others.
North America led the global market and account for a value share of around 38% in 2019 due to significant presence of leading pharmaceutical players in the region.
The Asia Pacific projected to witness the fastest growth rate of nearly 12% over the forthcoming years owing to rapidly increasing population along with steady economic growth in the region.