3 KEY FACTORS INFLUENCING THE PHARMACEUTICAL PACKAGING MARKET
Growth in Investment on Sustainable Pharmaceutical Packaging Solutions Leading to Increased Use of Bioplastics and Materials Such as Glass
Globally, both glass and metal are projected to register growth rates of over 4% and 6% respectively in the pharmaceutical packaging market, during the forecast period. Pharmaceutical packaging manufacturers are investing in recovery and recycling facilities in order to support the growing ecosystem for recyclable materials and recycled packaging solutions.
Apart from these, plastic pharmaceutical packaging solutions such as thermoformed packaging are now increasingly being recycled to cater to specific pharmaceutical packaging needs. There is also more emphasis on R&D projects aimed at finding solutions to certain plastic recycling challenges such as those encountered while recycling multi-layer flexible pharmaceutical packaging solutions.
Anti-counterfeit Pharmaceutical Packaging to Grow in Demand to Maintain Product Integrity
A significant loss in revenue due to counterfeiting of products is not sustainable for companies. Therefore, the key would be for companies to reduce revenue loss due to complex supply chain issues, while investing more on procuring anti-counterfeit solutions for their drugs.
Manufacturers of pharmaceutical packaging are expected to focus more on design-level innovations to enable pharmaceutical manufacturers to tackle this problem. It would be interesting to see how active, smart, and intelligent packaging solutions can help transform the global pharmaceutical packaging market during the next decade. Solutions such as track and trace systems and embedded watermarks are already being used in pharmaceutical packaging solutions.
Growth of cold chain service providers has enabled intercontinental trade of drugs, thereby generating demand for labels and other track & trace solutions embedded in pharmaceutical packaging formats to enable real time tracking of drugs in transit. It would be challenging for packaging manufacturers to integrate intelligent packaging solutions without compromising on compliance.
New Biological Drug Formulations to Generate Demand for Specific Pharmaceutical Packaging Solutions
Research & development in the pharmaceutical industry is a never-ending process. New biological drug formulations will continue to propel demand for innovative pharmaceutical packaging solutions, which prevent drug interaction with the packaging material.
One of the perfect examples for this is glass vials, which are experiencing changes in market demand. Some novel biologics have been found to be capable of delaminating glass, resulting in unwanted glass chipping in formulations. Therefore, going forward, manufacturers are forced to look for alternative production techniques to avoid glass chipping.
Pharmaceutical Packaging Market Outlook
The pharmaceutical packaging market is expected to grow at a steady pace during the forecast period. Establishment of the pharmaceutical packaging market in developing countries such as Brazil, India, and China, owing to the low overhead cost is a strong driver for the high demand for pharmaceutical packaging materials. In addition, the modern-day individuals and healthcare professionals demand a more convenient kind of packaging. As a result, the demand for convenient pharmaceutical packaging--auto-injectors, prefilled syringes--is likely to remain high.
One of the prominent trends found in the pharmaceutical industry that has been influencing the pharmaceutical packaging industry is the growing consciousness among individuals regarding the generic drugs and biologics. Individuals prefer generic drugs in consumable packaging, which makes it easy for them to carry at work, abroad, and to places.
This behavioural shift is, in turn, driving the manufacturers to come up with innovative approaches to produce new packaging. However, as the pharmaceutical packaging market is advancing, the governments across the world and the legal authorities have formed stringent regulations to only let the permissible and authentic pharmaceutical products delve into the market. This could act as a growth impeder for the pharmaceutical packaging market.
Besides this, manufacturers operating in the pharmaceutical packaging market have been striving to develop products that prevent contamination and enhances product safety. Additionally, given the growth of the eCommerce channels, manufacturers are producing pharmaceutical packaging as delivery-friendly as possible for efficient handling. However, the pharmaceutical packaging market growth is expected to be hampered, owing to the rising cost of the packaging materials and need to establish recycling facilities.
Another boost to the pharmaceutical packaging market has been on the back of the pandemic. Individuals have been opting for various medications and dietary supplements to enhance their immunity, which has generated a high demand for the pharmaceutical packaging market during the forecast period.
PHARMACEUTICAL PACKAGING: MARKET STRUCTURE ANALYSIS
- The global pharmaceutical packaging market is fragmented in nature as the top ten manufacturers account for around 1/5 of the market.
- Top companies operating in the global pharmaceutical packaging include Schott AG, Gerresheimer, and Ardagh Group SA. Furthermore, Tier-2 players, i.e. those who have a segmental revenue share in the range of 1-3% of the total pharmaceutical packaging market, cumulatively account for 55-65% of the global market.
- Most of the key players maintain a strategic presence and focus on the high value North America and Western Europe regions. However, with the lucrative growth opportunities being represented by the Asia Pacific pharmaceutical packaging market, it is anticipated that manufacturers will also eye the region for potentially opening new production facilities.
- Top players operating in the global pharmaceutical packaging market rely on sustainable, intelligent, and dynamic packaging solutions for product differentiation.
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Pharmaceutical Packaging – Material Advancements Vis-à-Vis Patient-Centric Developments
Protective measures have gained centerstage with the emphasis on the light-sensitiveness of drugs, alongside greater design flexibility, break-resistance, and improved barrier thresholds that continue to drive material advancements. Treatment administration is on a transformative phase with novel packaging device developments, with the industry’s move toward a more patient-centric and personalized medicines.
Market Set to Grow 1.7X between 2018 and 2028
New developments in primary packaging dosing has meant that older products are witnessing revived value, with the introduction of new features in the consumer OTC products, including on-the-versions and hygienic dispensing mechanisms. New developments are also materializing the objective of waste reduction and management.
High Attractiveness of Emerging Markets
Pharmaceutical packaging behemoths eye setting up facilities in emerging markets with relatively greater relaxations in FDI investment policies and lower government intervention. Stakeholders continue to vie in tapping latent potential of emerging markets for growth, as anti-counterfeiting pharmaceuticals packaging solutions gain emphasis to maintain the product integrity, influenced significantly by the high regulatory scrutiny.
The Broader Perspective
R&D investment directed toward sustainable advancements and innovation has become the cornerstone among the industry stakeholders, alongside growing efforts toward recovery and recycling of packaging materials. Pharmaceutical packaging manufacturers are also putting efforts to address challenges associated with the segregation and recycling of multi-layered flexible packaging solutions.
How Growth will Unfold
Stakeholders are now focusing on filling the gaps in the distribution and supply chain, making the market impervious to counterfeit products. The upward trend of contract manufacturing and growing focus on child-resistant packaging allude at promising prospects of the pharmaceutical packaging landscape.
Pharmaceutical Packaging Market - Report Scope
Historical Data Available for
US$ Mn for Value and Volume
Key Regions Covered
North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa (MEA)
Key Countries Covered
U.S, Canada, Germany, Brazil, Mexico, Rest of Latin America, U.K., France, Italy, Spain, Rest of Europe, Nordic, BENELUX, Rest of Western Europe, Russia, Poland, Rest of Eastern Europe, ASEAN, Japan, India, China, South Korea, Rest of Asia Pacific excluding Japan, Australia, New Zealand, GCC, North Africa, South Africa, Rest of MEA
Key Segments Covered
Material Type, Product Type, Region
Key Companies Profiled
Market Overview, Key Market Trends, Key Success Factors, Demand Analysis, Market Background, COVID-19 Analysis, Segmental Analysis, Regional Profiling, Market Structure & Competition Analysis
Customization & Pricing
PHARMACEUTICAL PACKAGING MARKET TAXONOMY
The global pharmaceutical packaging market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
By Product Type
- Packer Bottles
- Liquid Bottles
- Vials & Ampoules
- Bags & Pouches
- Prefilled syringes & cartridges
- Containers, Jars & Others
By Material Type
- Polyvinyl chloride
- Polyethylene terephthalate
- Others (Polycarbonate)
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East and Africa (MEA)