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NEW YORK , May 23, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "Pharmaceutical Packaging Market Share, Size, Trends, Industry Analysis Report, By Material (Plastics & Polymers, Paper & Paperboard, Glass, Aluminum Foil, Others); By Product (Primary, Secondary, Tertiary); By End Use; By Region; Segment Forecast, 2022 - 2030" in its research database.
According to recent research study published by Polaris Market Research, the global pharmaceutical packaging market size & share is expected to register a CAGR of 9.9% growth and industry revenue is expected to increase from USD 103.18 billion in 2021 to reach USD 238.89 Billion by 2030.
What is Pharmaceutical Packaging? How Big is Pharmaceutical Packaging Market?
Packaging refers to the process of designing, protecting, and covering the product. Packaging plays a key role in a pharmaceutical product. Packaging materials are used for wrapping solid, liquid, and semisolid forms of formulations, such as tablets, capsules, syrups, and topical drug formulations. Some commonly used types of pharmaceutical Packaging include Containers, Aluminium foil, Injectibles/ Vials, Bottles, Cartons, Paper Board, Lamitubes, and Paper.
Packaging for a pharmaceutical product can be classified into different types such as primary, secondary, and tertiary. Primary drug packaging is used to cover the pharmaceutical product, while secondary and tertiary packaging gives additional external protection. The growing requirement for reliable and speedy packing solutions that provide a combination of product protection, tamper evidence, quality, patient comfort, and security needs is fueling the global pharmaceutical packaging market growth.
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Pharmaceutical Packaging Market: Driving Factors
The rising demand for pharmaceutical packaging is driven by growing healthcare expenses and rising consumer awareness regarding a healthier lifestyle. Enhanced manufacturing processes to develop sustainable and environmentally friendly packaging solutions and product launches are also driving the growth of the global pharmaceutical packaging market. Also, increased product innovations and mergers & acquisitions to support new demands are fueling the market growth. The rising penetration of retail pharmacy companies in developing regions and an increasing focus on brand enhancement and product separation by pharmaceutical companies are expected to accelerate the market growth.
Moreover, the emerging generic drug market, rapidly expanding drug delivery market, increasing R&D activities, and use of innovative packaging are some of the important factors positively favoring the market growth. In addition, developments in the biotechnology sector, the introduction of new parenteral therapies, rising demand for innovative packaging products, and increasing use of smart packaging for patient engagement & identification are driving the market growth.
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Pharmaceutical Packaging Market: Report Scope
Amcor Plc, Aptargroup, Inc., Becton, Dickinson and Company, Berry Global Inc., Catalent, Inc., CCL Industries, Inc., Comar, LLC, Drug Plastics Group, Gerresheimer AG, International Paper, Nipro Corporation, Owens Illinois Inc., Schott AG, Silgan Holdings Inc., Stevanato Group, Vetter Pharma International, West Pharmaceutical Services, Inc., and Westrock Company.
By Material, By Product, By End-Use, By Region
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Based on material, the market is segmented into plastics & polymers, paper & paperboard, glass, aluminum foil, and others. The plastic & polymers market segment is projected to generate the largest share during the forecast period. The demand for plastics is high across the pharma industry. Different types of plastic resins including PE, PET, PP, PVC, PS, and bioplastic are majorly used for manufacturing pharmaceutical vials, bottles, closures, syringes, pouches, sachets, cartridges, tubes, and blister packs. Characteristics like cost-effectiveness and reliable form of packing for pharma products are fueling the high demand for plastics is high across the pharma industry.
On the basis of product, the market is categorized into primary, secondary, and tertiary packaging. The primary segment accounted for the largest market share in the global pharmaceutical packaging market in 2021 and is expected to continue its dominance during the study period. Primary packing is an integral part of the pharmaceutical industry as it ensures the safety of drugs and medicines during storage, sale, and use.
Secondary packaging is expected to record a lucrative share during the forecast period. Secondary pharmaceutical packaging is the covering pharmaceutical products to protect them from external barriers. It is also used to provide informative information about the products such as the presence of active and inactive ingredients, type of medicines, warning precautions, and many others.
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The market is primarily segmented based on material, product, end-use, and region.
Geographic Overview: Pharmaceutical Packaging Market
Based on the geography, North America witnessed the largest market share in the pharmaceutical packaging market in 2021 and is anticipated to maintain its dominance over the forecast period. The increase in pharma manufacturing base and increased investment in technological developments for sustainable packing is anticipated to boost the growth of the market. The U.S. accounted for generating the largest share because the country is one of the world's largest single pharmaceutical markets.
Moreover, Asia Pacific is projected to generate a significant share during the forecast period owing to rising health awareness, growing governing norms, and increasing focus on population health management. These factors are expected to accelerate the demand for the pharmaceutical packaging market.
Browse the Detail Report "Pharmaceutical Packaging Market Share, Size, Trends, Industry Analysis Report, By Material (Plastics & Polymers, Paper & Paperboard, Glass, Aluminum Foil, Others); By Product (Primary, Secondary, Tertiary); By End Use; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/pharmaceutical-packaging-market
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Frequently Asked Questions About This Report
Polaris Market Research has segmented the pharmaceutical packaging market report on the basis of material, product, end-use, and region:
Pharmaceutical Packaging Market: By Material Outlook
Pharmaceutical Packaging Market: By Product Outlook
Pharmaceutical Packaging Market: By End-Use Outlook
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