Pharmaceutical Packaging Market - Growth, Trends, and Forecast (2020 - 2025)
The pharmaceutical packaging market was valued at USD 73.49 billion in 2019 and is expected to reach a value of USD 118.01 billion by 2025 at a CAGR of 8.24%, during the forecast period (2020-2025). The trend in the growth in regulatory norms worldwide focusing on population health management and inventions, etc., the pharmaceutical industry in the country has evolved considerably. A much more informed customer base and growth in the demand for over-the-counter medicines are increasing the growth of the market.
- Nanotechnology, the science of very small materials, has a huge impact on pharmaceutical packaging, as it enables the introduction of innovative and new-gen packaging solutions to the market, thus, driving the growth. Improved barrier properties in plastics and enhanced functionality for nanotechnology facilitates the growth of the pharmaceutical packaging market. Hence, innovations in nanotechnology aid the growth and expansion of the plastic pharmaceutical packaging segment.
- In the near future, the development of better and more advanced healthcare infrastructure, coupled with the growth of pharmaceutical companies through alliances and partnerships (to maintain a stronghold domestically and internationally), is set to boost the growth of the global pharmaceutical packaging market.
- However, increasing overall packaging costs, owing to stringent regulations set and dynamic regulatory measures by governing bodies on the manufacturing of counterfeit medicines are the major restraints for the growth of the pharmaceutical packaging market.
Scope of the Report
Pharmaceutical packaging is the packages and the packaging processes for the pharmaceutical process where several raw materials, such as glass, plastic resins, etc, find application in the production of pharmaceutical packaging. Due to advanced and diverse drug-producing industries, the global demand will come from the developed economies. Based on drug delivery, the oral segment may lead the pharmaceutical packaging market in future. Oral drug delivery mode is widely used to administer drugs through mouth, which proves to be an easy and efficient method of drug administration.
Key Market Trends
Plastic to be the Prominent Pharmaceutical Packaging Solution
- Plastic packaging is witnessing significant growth over the forecast period because plastic is lightweight and easy to handle. Plastics are the most used material used in pharmaceutical packaging. Plastics have been gaining increasing importance in the packaging of pharmaceutical goods due to properties such as barrier against moisture, high dimensional stability, high impact strength, resistance to strain, low water absorption, transparency, resistance to heat and flame, etc.
- Plastics and polymer are used in pharmaceutical packaging for making bottles, cartridges, dry powder, metered dose inhalers, nebulizers, and pre-fillable syringes
- PVC is the third-most widely produced synthetic plastic polymer and used worldwide for packaging pharmaceutical products. The market value of PVC plastic is increasing globally due to its very dense nature compared to most plastics and is readily available with cheap price. As it is primary packaging materials, so it protects the pharmaceutical product against oxygen and odour, water vapour transmission, moisture, contamination and bacteria. These properties make PVC material a good choice for blister packaging. PVC mono films protect medicines from sunlight and UV rays.
- The growth of PVC market will exponentially increase the growth of pharmaceutical packaging in the future as people are becoming more conscious towards their health.
North America to Occupy Largest Share
- North America is known for its technological development and product innovations, which is motivating manufacturers to produce high-class packaging solutions for the pharmaceutical industry. Major factors driving the growth of the North American pharmaceutical packaging market include the contribution of nanotechnology advancement in manufacturing processes and technological innovation, growing demand for drug delivery devices & blister packaging, to the pharmaceutical packaging market.
- The United States will continue to be the largest national pharmaceutical packaging market as its advanced drug-producing sector commercializes new sophisticated therapies with specialized packaging needs. Advances in pharmaceutical packaging in the country are focused on improving the barrier properties of the packaging material.
- As people are becoming more health conscious and adopting a healthy lifestyle in the United States and Canada, the sale of a pharmaceutical drug is increasing that makes the sales of pharmaceutical packaging product such as a refillable syringe, vial, blister packs, etc. There is a need for constant innovation in the United States market, as stringent regulations by agencies, such as the FDA, require manufacturers to comply with stringent regulations while packaging drugs in the region.
While the pharmaceutical packaging market is fragmented, established companies are focusing on innovation and acquisition. Companies are investing a large amount of their resources and money in the R&D to innovate new products meeting with the environment and government compliance. Digital mass serialization is becoming a popular solution to combat counterfeiting. Key players are Amcor Limited, AptarGroup, Inc., Gerresheimer AG, Schott AG, etc. Recent developments are -
- March 2019 - West Pharmaceuticals opens New Digital Technology Center in Bengaluru, India. This Digital Technology Center will allow West Pharmaceutical team to create compelling digital experiences for their global customer base, source talent from India's fast-growing technology industry and bring forward the latest digital advancements to create insights and value for their customers and team members for ultimately delivering better business results.
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- 1 INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Introduction to Market Drivers and Restraints
- 4.3 Market Drivers
- 4.3.1 Introduction of Regulatory Standards on Packaging and Stringent Norms against Counterfeit Products
- 4.3.2 Impact of Nanotechnology due to Innovative and New-Gen Packaging Solutions
- 4.4 Market Restraints
- 4.4.1 Fluctuations in Raw Material Cost Due to Suppliers Bargaining Power
- 4.5 Value Chain Analysis
- 4.6 Industry Attractiveness - Porter's Five Force Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
- 5 MARKET SEGMENTATION
- 5.1 By Material
- 5.1.1 Plastics
- 5.1.2 Paper & Paperboard
- 5.1.3 Glass
- 5.1.4 Metal
- 5.1.5 Other Matetials
- 5.2 By Product
- 5.2.1 Primary Packaging
- 126.96.36.199 Bottles
- 188.8.131.52 Blister Packaging
- 184.108.40.206 Prefillable Syringes
- 220.127.116.11 Vials & Ampuls
- 18.104.22.168 Other Primary Packaging Products
- 5.2.2 Secondary Packaging
- 22.214.171.124 Closures
- 126.96.36.199 Containers
- 188.8.131.52 Labels
- 184.108.40.206 Packaging Accessories
- 5.3 Geography
- 5.3.1 North America
- 220.127.116.11 United States
- 18.104.22.168 Canada
- 5.3.2 Europe
- 22.214.171.124 Germany
- 126.96.36.199 United Kingdom
- 188.8.131.52 France
- 184.108.40.206 Italy
- 220.127.116.11 Spain
- 18.104.22.168 Rest of Europe
- 5.3.3 Asia-Pacific
- 22.214.171.124 China
- 126.96.36.199 Japan
- 188.8.131.52 India
- 184.108.40.206 South Korea
- 220.127.116.11 Rest of Asia-Pacific
- 5.3.4 Latin America
- 18.104.22.168 Brazil
- 22.214.171.124 Mexico
- 126.96.36.199 Rest of Latin America
- 5.3.5 Middle East & Africa
- 188.8.131.52 Turkey
- 184.108.40.206 South Africa
- 220.127.116.11 Rest of Middle East & Africa
- 6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Amcor Limited
- 6.1.2 3M Company
- 6.1.3 Schott AG
- 6.1.4 WestRock Company
- 6.1.5 Berry Global, Inc.
- 6.1.6 McKesson Corporation
- 6.1.7 AptarGroup, Inc.
- 6.1.8 Klöckner Pentaplast Group
- 6.1.9 CCL Industries Inc.
- 6.1.10 FlexiTuff International Ltd.
- 6.1.11 Gerresheimer AG
- 6.1.12 West Pharmaceutical Services, Inc.
- 6.1.13 Becton, Dickinson and Company
- 6.1.14 Vetter Pharma International GmbH
- 7 INVESTMENT ANALYSIS
- 8 MARKET OPPORTUNITIES AND FUTURE TRENDS