Topical Drugs Packaging Market Overview
Topical drugs are the types of drugs which is used for the treatment of particular place, typically skin in the body and affects that specific area only. These topical drugs can be of different types like creams, gels, pastes, ointments, lotions, powders, eye drops, ear drops and inhalational.
Topical drugs can mostly be found for treatment of skin infection or diseases but topical drugs have application in other body parts as well. The topical drug packaging is important so that the topical drugs are safe from any physical damages and other contamination. This packaging also helps the drug to maintain its stability throughout its shelf life thereby increasing its usage period also.
The pharmaceutical industry is growing at a rapid rate which involves topical drugs as well, due to which the topical drug packaging is also growing at an unprecedented rate.
Topical Drugs Packaging Market: Dynamics
The topical drug packaging market is majorly driven by high usage of topical medication like ointments, gels, lotions, drops and creams for treatment of skin and tissue infection, ears and eye diseases, high usage of asthma medications which includes inhalers and topical medications applied to other parts of the body as well.
The preference of administrating drugs through the skin and using this process as an alternative to the oral consumption of drugs is sure to drive the growth of topical drags packaging.
Furthermore, growth in demand for self-administration and home care would extend the profitable opportunities to the topical drug delivery market players in the forecast period.
Topical drug packaging protects the drugs from any type of damage or contamination from microbial growth and also increases its shelf life by assuring product safety. Another factor which drives the market of topical drug packaging is technological advancements and innovations. Pharmaceutical packaging market is now focusing on more eco-friendly solution for packaging like glass, bioplastic, biodegradable plastic, paper and paperboard materials, which are going to contribute greatly in the growth of drug packaging.
With new topical drugs launching in market, the topical drug packaging market is also expected have high growth. For instance, in Jan 2021, Benvitimod cream is launched in China which would serve as an effective solution for plaque psoriasis.
The availability of these topical drugs through online shopping now a days has increased the ease of getting these topical drugs which in turn also boosted the packaging industry. Another factor for driving topical drugs packaging is the emergence of new markets across the globe which implies that new market players are constantly entering this packaging market and competition is going to rise.
Topical Drugs Packaging Market: Key challenges
The growth in counterfeit pharmaceutical drugs is a major obstruction in the growth of this market. This growth of counterfeit drugs is mainly due to extra shift packaging, where the manufacturers are trying to have an extra profit by producing additional drugs and selling those drugs to the counterfeiters. Hence, this growth of counterfeit drugs can pose as an obstruction in the topical drugs packaging market.
Many customers believe that when these drugs are applied on skin it tends to get absorbed in the skin surface and would penetrate skin layers, getting mix with the blood stream therefore, they tend to avoid using topical drugs. This belief is restricting the customers from buying topical drugs. The overall cost of topical drugs has also increased which poses as an obstruction in buying these drugs due to their expensive pricing.
Another factor which poses as a challenge in topical drug packaging is the environmental standards. Now a days due to high demand for topical drugs the manufacturers are making more drugs but at the cost of affecting our environment.
These topical drug packages are also discarded by the customers after usage and thus medical wastages are also increasing day by day both from the consumer end and manufacturer end. So, the manufacturers have to take all these restraining factors into account while packaging topical drugs.
Topical Drugs Packaging Market: Key players
Some of the manufacturers of topical drug packaging market are listed below:
- Origin Pharma Packaging
- Halo Pharma
- Johnson & Johnson
- Novartis AG
- Bausch Health companies
- Merk & Co
- Bayer AG
- Aphena Pharma Solutions
- Glenmark Pharmaceuticals
- West Pharmaceutical Services, Inc.
- Encore Dermatology, Inc.
- Aclaris Therapeutics, Inc.
North America and Europe is anticipated to be the largest market for consumption of pharmaceutical packaging material due to their development in manufacturing process and technological development. Strategic developments such as e-retailing of pharmaceutical products in Asia-Pacific region is expected to accelerate the demand for drug packaging.
Topical Drugs Packaging Market: Impact of COVID-19
Due the covid-19, customers are stocking up various drugs for future purposes due to fear. Hence drugs are piling up in the customer end but there are shortages of drugs in various pharmaceutical stores and e-retailers, which is forcing retailers to buy more drug to prevent stock out. These factors are expected to boost the growth of topical drug packaging market.
However, due to temporary lockdown of covid-19 affected manufacturing sites, there is seen shortages of raw materials and supply shortages due to which the topical drugs packaging market is severely affected. However, as this pandemic situation eases and the lockdowns and other restrictions throughout the world are uplifted and everything returns to a new normal, the topical drugs packaging shortage issue would also be eased.
Topical Drugs Packaging Market: Segmentation
Based on Mode of Administration:
- For ophthalmic usage
- For nasal usage
- For dermal usage
Based on Product Types:
- Plastic bottles
- Caps & Closures
- Plastic tubes
- Glass bottles
Based on Nature:
Based on Packaging Material:
- Aluminium foil
- Paper & Paperboards
Based on Region:
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa