The global Pharmaceutical Packaging Market size is expected to reach USD 265.5 billion by 2030, according to
a new report by Grand View Research, Inc. It is expected to expand at a CAGR of
9.5% from 2021 to 2030. The increasing prevalence of chronic diseases, coupled
with the growth of the pharmaceutical industry, is anticipated to augment the
consumption of pharmaceutical packaging products.
Ban on counterfeit products in North America and
Europe is expected to be a major driver for the market as major companies are
likely to invest significantly in anti-counterfeit packaging products.
Blow-Fill-Seal (BFS) technology allows customized design for high-quality
containers with tamper-evident closures in multiple shapes and sizes.
Therefore, the growing demand for anti-counterfeiting packaging, along with the
advent of technology, is likely to support the growth of tamper-evident
pharmaceutical packaging.
Companies are focusing on using sustainable materials
for packaging owing to the rising concerns over the generation of packaging waste
that is difficult to degrade. Bioplastic is likely to gain traction in the
market as it is derived from renewable plant-based sources and is biodegradable
unlike the plastics and polymers derived from fossil fuels. In
December 2019, Sanner GmbH, a Germany-based packaging manufacturer, introduced
BioBase effervescent tablet packaging derived from corn and sugarcane. Such
novel sustainable packaging solutions are expected to boost the growth of the
market.
Pharmaceutical manufacturers are likely to prefer blister
packaging for tablets and capsules as these are more sustainable with minimal
usage of packaging material as compared to rigid bottles. In addition, the
transparency of blister packs provides a clear product display and provides
tamper-resistant features. The outbreak of COVID-19 has significantly increased
the demand for various pharmaceutical drugs across the world, thereby
propelling the demand for pharmaceutical manufacturing and their packaging.
Rapid development and production of the vaccine in the year 2020 are
anticipated to increase pharmaceutical manufacturing considerably, primarily
benefitting the manufacturers of packaging vials in the near future.
Market players have been trying to increase their
production capabilities as well as expand their geographic reach. In addition,
companies are introducing and investing in high-tech packaging solutions with
the changing environment. For instance, in April 2020, Schott AG introduced
smart containers, which are laser-marked with a unique identifier to create
robust traceability throughout the manufacturing process. Companies are
expected to invest significantly in such developments in the coming years to
strengthen their market position.
Related Press Release@ Pharmaceutical Packaging Market Report
Pharmaceutical Packaging Market
Report Highlights
- In terms of revenue, the glass material segment is projected to
expand at the highest CAGR of 10.2% over the forecast period. Strong
chemical resistance to various medicinal products and the ability to
withstand heating treatment during the sterilization process is expected
to expand the penetration of glass packaging
- The contract packaging end-use segment is expected to witness the
fastest growth over the forecast period. Regulatory requirements
associated with pharmaceuticals and their packaging are gradually becoming
stringent, and contract packaging organizations are in a better place to
address those changes. This factor is boosting the demand for contract
packaging services
- Asia Pacific is projected to be the fastest-growing regional market
from 2021 to 2030. This growth is due to the rapidly expanding
pharmaceutical market, particularly in China and India, and rising cases
of various diseases, such as cancer and heart problems
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
Contact:
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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