Key Highlights From Report
Which is the most lucrative market for pharmaceutical caps and closures?
The U.S. currently leads the global market for pharmaceutical caps and closures. Sales in the U.S. will account for over 89% of the North America market throughout the forecast period.
Which is the most commonly used type of pharmaceutical caps and closures?
Screwcap and closures have emerged dominant in terms of product type and are expected to account for more than 46% of the market through 2031.
Which is the most common application for pharmaceutical caps and closures?
Anti-cancer drugs are exhibiting faster growth in demand at 7.5% CAGR for pharmaceutical caps and closures.
Which drug modality contributes to maximum sales of pharmaceutical caps and closure?
Small molecule drug modalities are showing consistency in growth and are expected to account for approximately 60% of the global market by 2031. Rising demand for standardization will drive sales in this category.
Who is the leading end-user of pharmaceutical caps and closures?
Pharmaceutical and biotechnology companies are leading end-users in the market and are expected to hold a share of 52.5% through 2021 owing to their advanced medical facilities and higher footfall of patients.
Which materials are preferred for the production of pharmaceutical caps and closures?
Plastics will account for more than 64% of the market in 2031 owing to their flexibility in function and low costs of production and sourcing.
Key Points Covered in Pharmaceutical Cap and Closure Market Study
- Market estimates and forecast 2015-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Pharmaceutical Caps and Closures Market and How to Navigate
- Recommendation on Key Winning Strategies
2016-2020 Pharmaceuticals Caps and Closures Market Outlook Compared to 2021-2031 Forecast
Until recently, owing to a lack of awareness about safety concerns, the production of pharmaceutical caps and closures was fairly limited. According to Future Market Insights FMI), the sales of pharmaceutical caps and closures have grown at a 4.7% CAGR between 2016 and 2020.
The increasing demand for safe and easy packaging has encouraged innovations in the field of pharmaceutical caps and the closures market. The demand for child-proof packaging owing to concerns over accidental consumption is rising. This also will have a positive impact on the market.
According to the National Health Service (NHS), a majority of children under five years are affected by unwanted harmful drugs owing to improper closing of containers.
With growing economies and the expansion of health care and insurance systems, the demand for pharmaceutical products is escalating strongly. It is estimated that the global pharmaceutical market will grow at 3-6% annually in the coming years.
Focus on effective packaging to minimize the risk of accidents and spoilage of pharmaceutical products, the demand in the market is expected to increase. In the U.S., the spending on medicines is increasing owing to new product adoption. Medical spending in Japan exceeded US$85 Bn in 2019. The same for China touched US$136 Bn.
The usage of medicines has jumped by 24% in 2020 as compared to 2015. Developed economies will continue to use a larger volume of prescribed medicines. Emerging countries will use more generics and over-the-counter alternatives.
With pharmaceutical spending consistently rising in developed countries, the demand for pharmaceutical caps and closures is expected to rise.
The COVID-19 pandemic has changed priorities in the national healthcare process and spending. However, it is considered to have a short-term negative impact on the pharmaceutical caps and closures market. Future Market Insights expects the global pharmaceuticals caps and closures market to rise at 5.7 % CAGR between 2021 and 2031.
Market Research Methodology - Perfected through Years of Diligence
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How are Light Weight Packaging Formats Affecting the Pharmaceutical caps and Closures Market?
Lightweight packaging material have a higher acceptance rate among consumers. Lightweight closures made from resins, which results in lower plastic usage, while meeting the need of environment friendly products.
Considering both economic and social benefits, light-weight packaging has become increasingly acceptable, while innovation and research are seen as key to the future of the market.
How are Investments in Product Development Influencing Growth?
Innovation in the field of plastic packaging has been aiding new product launches in the market. Researchers are focusing on the objective of reduction in development costs.
Extensive research has been conducted using samples from across the world to create unique products which are cost friendly, profitable, and made with limited resources.
For Instance, In March 2021, Drug Plastics & Glass Co Inc. filed a patent for new closure designs. The SecuRx Dosage Cap is ideal for cough syrups, antacids, vitamins, antibiotics, cannabis beverages, and more, and they deliver accurate, user-friendly liquid doses which can be mass produced at a lower cost.
Innovations such as these are expected to have positive impact on the market.
How are Stringent Regulations Restricting Market Growth?
Stringent rules and regulations associated with the grade of plastics used in end-use industries, especially in the food and beverages and pharmaceuticals industries might hamper market growth.
Also, in the U.S. regulations enacted by the Food and Drug Administration (FDA) have made it compulsory to implement child-resistant closures. This will create lucrative prospects for sales in the pharmaceutical industry.
However, smaller companies might find it difficult to adhere to such stringent regulations. Machineries required for ascertaining stringent guidelines are often cost-intensive, which might discourage smaller players. This in turn can have a negative impact on the market.
What are the Key Opportunities for Pharmaceutical Cap and Closure Manufacturers?
Today, consumers are looking for products that are easy to access, easy to use, with higher preference for self resealing offerings. These factors are creating notable opportunities for manufacturer to develop consumer-friendly products.
Increasing investments in the healthcare sector in emerging countries is anticipated to boost the demand for pharmaceutical caps & closures. Local and regional players are expanding their distribution networks and manufacturing facilities to boost their business portfolio across the globe.
Increasing government initiatives for research and development is expected to provide create significant opportunities in the pharmaceutical caps & closures market.
How Lucrative is the Opportunity in the U.S?
In the U.S., the spending on medicines has steadily increased over the years , driving the adoption of new cap and closure offerings. The U.S. will hold over 89% of the pharmaceutical caps and closures market in North America. Also, regulations implemented by the FDA to ascertain child-resistant closures in the pharmaceutical industry have contributed to growth prospects.
Implementation of such laws are boosting research and development among manufacturers in North America. The year 2020 also witnessed vaccine launches for the COVID-19 pandemic. Increasing production and sales of vaccines will drive the pharmaceutical caps & closures market.
Moreover, the increasing prevalence of chronic diseases like cardiovascular disorders, cancer, and others is fuel demand for for various medications. This will in turn fuel the demand for effective packaging solutions in the pharmaceutical sector, creating opportunities for the pharmaceutical caps and closure sales.
What are the Factors Driving Revenue Generation in the U.K.?
The U.K. will account for over 25% of the Europe market through the assessment period ending in 2031. Common tech developments, the demand for extensive product portfolios, and improvements in drug development pipelines and production capacities are key factors speeding growth in the U.K. market for pharmaceutical caps and closures.
New acquisitions have been driven by the need to widen portfolios for nonexclusive clean injectables in the U.K. market. For Instance, in January 2020, Cyrano Berry launched its advanced molding technology, to create extremely lightweight components to deliver reliable performance to safeguard product integrity, offer ease drug administration, and improve patient safety.
What are the Factors Restricting Pharmaceutical Caps and Closure Production in Germany?
The Germany market will exhibit a 6.7% CAGR thoughout the forecast period. Regulatory guidelines are relatively stricter in Germany. As a result, achieving approvals is harder. The EMA guideline covers the exact requests for packaging materials which is in direct contact pharma products or drugs.
These guidelines need to be met for new registration applications. As a result of stringent guidelines, elastomeric closures are increasingly used in injectable pharmaceutical products and delivery systems to ensure component functionality and suitability of parenteral products.
Plastic packaging systems create concerns associated to potential safety effects with the production of drugs and biopharmaceuticals. As a result, stringent regulation for all type of closures in Germany is restraining the market.
Favorable Policies Driving Japan Market
Increasing healthcare spending has improved the quality of healthcare, while boosting the demand for pharmaceutical products in countries like Japan. The Japan market will accounts for more than 45% of the sales registered East Asia market in 2021.
In Japan, the total annual pharmaceutical spending equals US$93 billion. Moreover, the government of Japan provides for healthcare spending of around 40% via the national insurance schemes. Japan’s pharmaceutical sector has been forecast to grow considerably in the coming years, paving way for the expansion of the pharmaceutical caps and closures market.
What is Scope of Growth of Pharmaceutical Caps and Closures Market in Argentina?
Increasing investments in the healthcare sector is anticipated to boost the demand of pharmaceutical caps & closures. Increasing government initiatives for research and development is expected to provide significant opportunities in Argentina.
The market for pharmaceutical caps and closures in Argentina is exhibiting 4% CAGR, and is expected to account for more than 11% of the Latin America market throughout the projection period. Encouraged by lucrative prospects, several market players are likely to expand their presence in the country.
For Instance, in September 2020, Bericap GmbH and Co KG established a new plant in Argentina and started a production facility in Malaysia as a hub for further expansion in Southeast Asia.
Why is Child Resistant Driving Revenue by Functionality?
A relatively higher adoption rate is witnessed in child resistance closures owing to their effectiveness in preventing accidental consumption. The segment is expected to account for 61% market share in 2021.
Also, lower costs of these closures result in higher revenue generation in the global pharmaceuticals caps and closures market. However, tamper-resistant products will reflect a higher rate of growth owing to concerns over counterfeiting.
What is the Market Share of Screw Caps and Closure?
Screw caps and closures will continue to dominate the market during the forecast period. According to Future Market Insights, the segment is expected to hold around 46% of the market share through the end of 2031.
Screw caps and closures offer various benefits to manufacturers in the supply chain and are helpful in patient compliance. Besides this, they offer help in offering longer shelf life and sustainability of products.
Why are Plastics Preferred for Pharmaceutical Caps and Closures?
Plastic closures are lightweight, cost-effective, and easy to manufacture which will enable the plastic segment to account for over 64% of the market by the end of 2031. Lightweight packaging materials have higher acceptance rates among consumers.
Lightweight closure made from resins results in lower plastic usage while also complying with the recent rise in demand for environment-friendly products.
On the other hand, the manufacturing cost is also reduced due to the usage of resin in lightweight caps. Therefore, considering both economic and social benefits, offering lightweight has become a key aspect for production. This will also influence the material used for manufacturing pharmaceutical caps and closures.
How are Prescription (Rx) Caps and Closures Set to Fare?
Most pharmaceutical and biopharmaceutical drugs for chronic diseases are available only with prescriptions. As a result, prescribed drug closures will account for a market share of 76% by the end of 2031.
Over-the-counter (OTC) alternatives are likely to witness increasing opportunities, especially in developing countries, owing to easier access to consumers. The trend is likely to continue in the upcoming years, fuelling sales in the OTC segment.
How are Small Molecule Drug Modalities Contributing to Growth?
Most of pharmaceutical companies are focusing on the development of small molecule and biopharmaceutical packaging with improved compatibility with most container closure designs.
This segment is estimated to be valued at US$ 2.33 Bn by the end of 2031. Research into biopharmaceuticals will also create important growth opportunities.
Why are Pharmaceutical & Biotechnology Exhibiting High Demand for Pharmaceutical Caps and Closures?
Most pharma and biotech companies are focusing on pharma products with higher brand awareness which is particularly true in developed countries. Pharmaceutical and biotechnology companies are likely to account for over 55% of sales in the market in 2021.
Which Therapeutic Class is Aiding Increasing Sales of Pharmaceutical Caps and Closures?
Anticancer drugs currently lead the market in terms of therapeutic class, accounting for a share of over 20% in 2021. The increasing prevalence of cancer around the world will fuel demand in the segment.
According to the International Agency for Research on Cancer (IARC), by 2040, the world is expected to register 27.5 million new cancer cases and 17.3 million cancer deaths. According to the WHO, the risk of developing cancer before the age of 75 years is about 20.2% and the risk of dying from cancer before the age of 75 years is about 10.6%.
The demand for cancer treatment medications is increasing at a high pace, which is expected to create growth opportunities in the market. The demand for pharmaceutical caps and closures for anti-cancer drugs is forecast to rise at a CAGR of 7.5% between 2021 and 2031.
Manufacturers in the pharmaceutical caps and closures market are primarily aiming to carry out strategic collaborations and R&D to consolidate growth in a competive and fragmented market.
For Instance, In November 2019, the MENSHEN Gmbh launched a new sustainable closure solution that was specially designed for the pharmaceuticals industry.
In January 2020, Berry group launched a new product Cyrano Berry’s advanced molding technology to create extremely lightweight components, which still deliver reliable performance to safeguard product integrity, ease drug administration, and improve patient safety.
In October 2020, West Pharmaceutical Serivese launched Vial2Bag Advanced 20mm Admixture Device, which enables reconstitution and transfer of a drug between a vial and an IV bag.
The company is strategically making promotional plans for its established prescription brands to increase their awareness within the prescription market Its ‘Get Old’ campaign also makes a frequent appearance on the main company feeds and through its own Twitter and Facebook page.
Some of the leading companies in the pharmaceutical caps and closures market include:
- Berry Global Inc.
- Amcor Plc
- Aptar, Inc.
- Closure Systems International, Inc.
- O.Berk Company, LLC
- Bericap GmbH and Co KG
- UNITED CAPS
- CL Smith Company
- Georg MENSHEN GmbH & Co. KG
- WestRock Company
- West Pharmaceutical Services, Inc
- Drug Plastics & Glass Co Inc.
- Gerresheimer AG
- DWK Life Sciences GmbH
- Parekhplast India Limited
- Parshva Exim Limited
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.
Scope of the Report
Historical Data Available for
USD billion for Value
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, South Africa
Key Segments Covered
Product, Functionality, Material, Availability, Drugg Modality, Therapeutic Class, End-Users, and Region
Key Companies Profiled
Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing
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Phramacutical caps and Closures Services Market by Category
- Screw Caps & Closure
- Snap Caps & Closure
- Push-Pull Caps & Closure
- Stopper & Seals
- Child Resistant
- Prescription (Rx) Pharmaceuticals
- "Over-the-Counter (OTC) Pharmaceuticals"
- Small Molecule (Synthetic Drugs)
- Anticancer Drugs
- Anti-infective Drugs
- Anti-viral Drugs
- Anti-bacterial Drugs
- Anti-fungal Drugs
- Cardiovascular Drugs
- Anti-inflammatory Drugs
- Analgesics Drugs
- Ophthalmic Drugs
- Neurological Drugs
- Pharmaceutical & Biotechnology Companies
- Contract Manufacturing Organizations (CMO)
- Contract Research Organizations (CRO)
- Academic & Research Institutes
- North America
- Latin America
- East Asia
- South Asia
- The Middle East and Africa (MEA)