The Pharmaceutical Container Market is likely to be valued at USD 95.3 billion in 2023. The estimated CAGR of 6.1% from 2023 to 2033 suggests that the global pharmaceutical container market is executed to reach a valuation of USD 172.4 billion by 2033.
Attributes | Key Statistics |
---|---|
Expected Base Year Value (2023) | USD 95.3 billion |
Anticipated Forecast Value (2033) | USD 172.4 billion |
Estimated Growth (2023 to 2033) | 6.1% CAGR |
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Rising Global Healthcare Needs to Drive the Market Growth
The last few years saw substantial growth in the pharmaceutical industry due to various factors like the COVID-19 pandemic, the aging population, and the everlasting prevalence of chronic diseases like diabetes, hypertension, and renal diseases.
As the demand for medications worldwide continues to grow, the need for pharmaceutical containers to package and transport medical products like medications, vaccines, and healthcare supplies also experiences a significant surge.
Pharmaceutical companies worldwide are investing extensively to create innovative drugs and medical procedures like biologics, gene therapies, and precision medicines. These medical operations require specialized packaging to ensure the product's stability and safety of the patient consuming it.
These factors have made pharmaceutical containers crucial in the medicare industry, subsequently expanding the market.
The growth of the pharmaceutical container market is heavily dependent on global healthcare and medical services. Due to the recent pandemic, the healthcare industry has seen a tremendous surge in the last few years.
This also meant a need for the packaging of vast amounts of medications, vaccines, PPE kits, etc. This also witnessed significant growth in the market for pharmaceutical containers.
Attributes | Key Statistics |
---|---|
Expected Base Year Value (2018) | USD 69.73 billion |
Anticipated Forecast Value (2022) | USD 89.7 billion |
Estimated Growth (2018 to 2022) | 6.5% CAGR |
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Product-wise, the pharmaceutical container market is segmented into bottles, vials and ampoules, blisters, bags and pouches, and many more. Bottles are essential for storing pharmaceutical products such as pills, capsules, and tablets.
They provide a protective barrier that shields medications from external factors like moisture, light, and contamination, which can degrade the quality and effectiveness of the drugs.
Attributes | Details |
---|---|
Product | Bottles |
Market share | 37.3% |
When it comes to products, bottles dominate the pharmaceutical container market with a global share of 37.3%. They are considered great dispensers that can help patients pour out the desired quantity of medication prescribed by healthcare providers. Bottles also have easy-to-open closures and clear labeling that cater to seniors and patients with disabilities.
The average global age is rising, and the pharmaceutical industry is constantly seeking alternatives like these that provide packaging solutions to promote accessibility and safety for this growing demographic.
Bottled pharmaceutical containers are also very easy to design, store, and transport, essential in the medicare field. As the demand for medications in the world continues to grow, bottled containers are set to dominate the pharmaceutical container market because of their flexibility, safety, and familiarity with consumers for an extended period.
Pharmaceutical packaging solutions companies continuously seek materials that are easy to mold into different shapes and sizes to accommodate diverse packaging needs. Plastic materials offer a wide range of options suitable for various pharmaceutical products, including tablets, capsules, liquids, and creams. Material-wise, plastic dominates the pharmaceutical container market with a global share of 62.3%.
Attributes | Details |
---|---|
Material | Plastic |
Market share | 62.3% |
Plastic is generally more cost-effective than alternative materials like glass or metal. This affordability is crucial for pharmaceutical companies looking to manage production costs without compromising quality.
They are also very lightweight, which becomes an important factor in transporting and distributing medications on long routes. Also, plastic is readily available in every part of the world, making manufacturing pharmaceutical containers comparatively less easy.
In the past few years, there has been a huge demand for bottled plastic pharmaceutical containers worldwide to support the growing healthcare infrastructure. Plastic materials continue to evolve and adapt to the evolving needs of the pharmaceutical sector, making them a trusted and preferred choice for packaging pharmaceutical products.
Region | Value Share in 2023 |
---|---|
Asia Pacific | 29.2% |
Europe | 22.7% |
North America | 10.7% |
Asia Pacific comprises two of the world’s most populous countries, India and China. These countries have significantly transformed the pharmaceutical industry in the last decade. This infrastructure development results from huge investments by international and local players in the healthcare packaging industry, leading to increased demand for pharmaceutical containers.
The government here has also invested heavily in promoting medical facilities among the residents. This has eventually made a huge impact on the pharmaceutical industry, which in turn drives the need for pharmaceutical containers for storage, distribution, and dispensing.
Europe is home to many developed countries, which have reached the highest peaks when it comes to the pharmaceutical industry. The development of innovative medical treatments and therapies has often driven the growth in the pharmaceutical container market to package and distribute these products.
These complex and sensitive products require specialized packaging to maintain product stability and safety during storage and transportation. This investment, hence, supports the growth of advanced Medicare and the pharmaceutical container market.
Pharmaceutical container consumers, such as patients and healthcare providers, have become conscious of the environmental footprint of their products. The majority of them prefer pharmaceuticals that are packed in environmentally friendly containers.
This considerable shift in consumer preferences has directly impacted the demand for pharmaceutical containers that use recyclable materials and minimize packaging waste.
Regulatory authorities in these respective countries also encourage the leading pharmaceutical companies to adopt sustainable packaging practices, which drives the demand for specialized pharmaceutical containers.
The Indian government's initiatives to promote the pharmaceutical sector, attract investments, and promote local pharmaceutical equipment manufacturing have fueled pharmaceutical production and increased the demand for pharmaceutical containers.
These policies have significantly supported the pharmaceutical industry to thrive, making India a significant player in the global pharmaceutical container market.
Country | India |
---|---|
Value CAGR (2023 to 2033) | 7.2% |
Thanks to its robust manufacturing capabilities and a competitive edge in producing a wide range of pharmaceutical products, China has the world's most advanced pharmaceutical industry, with many export opportunities. Chinese companies, hence, contribute significantly to the global pharmaceutical industry, subsequently expanding the drug packaging container market.
Country | China |
---|---|
Value CAGR (2023 to 2033) | 6.7% |
While visiting Thailand, medical tourists seek a wide range of healthcare services, including pharmaceutical treatments. This surge in demand for medications creates a substantial market for pharmaceutical companies.
To meet this demand, pharmaceutical manufacturers require reliable and efficient packaging solutions, which, in turn, fuels the growth of the pharmaceutical container market.
Country | Thailand |
---|---|
Value CAGR (2023 to 2033) | 6.1% |
The pharmaceutical container market is filled with opportunities and business growth due to the tremendous scope for innovation and adaptation to evolving industry needs.
The market experienced rapid growth during the pandemic as the demand for treatments and vaccines surged, but it is slowly declining as the immediate urgency subsides. How this change will impact the pharmaceutical container market's growth trajectory is still being determined.
Recent Developments in the Pharmaceutical Container Market
The market is anticipated to record a valuation of USD 95.3 billion in 2023.
India is the largest consumer of pharmaceutical containers, with a share of 7.2%
Amcor Plc Ardagh Group S.A., Becton, Dickinson and Company, and Berry Global Group, Inc. are some key players in the market.
The market is forecast to register a CAGR of 6.1% through 2033.
India is likely to register a growth of 7.2% in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Bottles 5.2. Standard 5.3. Dispensing 5.4. Jars 5.5. Vials 5.6. Cans 5.7. IV Containers 5.8. Semi-Rigid IV Containers 5.9. Premixed IV Mini Bags 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Plastic 6.2. PE 6.3. LDPE 6.4. HDPE 6.5. Polystyrene 6.6. Polycarbonate 6.7. Polypropylene 6.8. PVC 6.9. PET 6.10. Glass 6.11. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Amcor plc 17.2. Becton, Dickinson, and Company 17.3. AptarGroup, Inc. 17.4. Drug Plastics Group 17.5. Gerresheimer AG 17.6. Schott AG 17.7. Owens Illinois, Inc. 17.8. West Pharmaceutical Services, Inc. 17.9. Berry Global, Inc. 17.10. WestRock Company 17.11. SGD Pharma 17.12. International Paper 17.13. Comar, LLC 17.14. CCL Industries, Inc. 17.15. Vetter Pharma International 18. Assumptions & Acronyms Used 19. Research Methodology
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