Number of pages: 120 | Report Format: PDF | Published date: 28 January, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global pharmaceutical packaging market was pegged at ~US$ 88.3 billion in 2020 and is expected to witness a CAGR of ~6.4% during the forecast period.
Pharmaceutical packaging (or drug packaging) is the packaging process for pharmaceutical preparations. It involves an array of materials, which are carefully selected to preserve & protect the drug and enable the patient to use it safely. Apart from protection, pharmaceutical packaging is also essential for identification, for marketing & promoting different brands, and for facilitating the use of pharmaceutical products. Pharmaceutical packaging is classified as primary, secondary, and tertiary. Primary drug packaging is the material that surrounds the pharmaceutical product and is in direct contact with the drug, while secondary and tertiary packaging provide additional external protection.
The global pharmaceutical packaging market is mainly driven by growing pharmaceutical industry, rising R&D activities, growing demand for convenient packaging types and rising growth strategies adopted by prominent players. Rising demand for COVID-19 vaccine is also likely to play a pivotal role in driving the market growth globally. However, fluctuations in the raw material prices, environmental concerns and high input costs for packaging production are likely to restrain market growth to a certain extent.
The global pharmaceutical packaging market has been analyzed from three perspectives: Type of Material, Product Type, and Region.
Pharmaceutical Packaging Market by Type of Material
Based on type of material, the market has been segmented into glass, plastics, rubbers, paper/card boards and metals. The plastics segment accounted for the largest share in the pharmaceutical packaging market. Wide range of plastics variants such as polyethylene, polypropylene, polyvinyl chloride, polystyrene, etc. are broadly used for manufacturing various pharmaceutical packaging products. Plastic is commonly used in manufacturing of various types of pharmaceutical packaging such as bottles, jars, caps & closures, syringe, etc. Furthermore, benefits provided by plastic such as light weight, ease of handling and chemical inertness can be attributed for the growth of the segment in the market.
Pharmaceutical Packaging Market by Product Type
Based on product type, the pharmaceutical packaging market has been segmented into glass & plastic bottles, syringes, blister packs, vials & ampoules, tubes, caps & closures, cardboard boxes and other product types (cartridges, bags & pouches, pre-fillable inhalers, pre-fillable syringes, labels, and others). The glass & plastic bottles accounted for the largest share in the pharmaceutical packaging market. The growth of the segment can be attributed to the suitability of bottles for storage of solid, liquid, and semisolid dosage form. Increasing demand for oral dosage form, and better patient compliance during drug consumptions through bottles is also expected to boost the market.
Pharmaceutical Packaging Market by Region
Based on region, the global pharmaceutical packaging market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominated the pharmaceutical packaging market, followed by Asia Pacific. Rapid technological advancements, presence of large number of prominent pharmaceutical companies in the region, rising government initiatives in the healthcare industry, growing investments in R&D activities, high per capita income, and advanced healthcare infrastructure are some of the key factors driving the North American market.
Some of the prominent players operating in the pharmaceutical packaging market includes:-