The Pharmaceutical Contract Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pharmaceutical Contract Packaging Global Market Report 2024, The pharmaceutical contract packaging market size has grown strongly in recent years. It will grow from $29.32 billion in 2023 to $31.87 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increasing complexity of packaging regulations, need for rapid time-to-market, demand for specialized packaging solutions, globalization of pharmaceutical supply chains, cost savings and operational efficiency, flexibility in production scale..
The pharmaceutical contract packaging market size is expected to see strong growth in the next few years. It will grow to $43.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increased focus on sustainable packaging, demand for on-demand packaging services, customization and personalization trends, demand for child-resistant packaging, strategic investments in packaging infrastructure.. Major trends in the forecast period include serialization and track-and-trace compliance, technological advancements in packaging equipment, specialization in cold chain packaging, adherence packaging for patient compliance, personalized medicine packaging, investments in digitalization and industry 4.0..
Growth in the number of elderly populations is expected to propel the growth of the pharmaceutical contract packaging market going forward. The elderly population refers to people aged 65 and over. The ageing population is driving manufacturers to develop packaging that is easier to open while remaining child-resistant, but this can increase costs and affect sustainability. For instance, according to the United Nations Department of Economic and Social Affairs’ September 2020 report, the population aged 65 and older is projected to rise from 9.3% in 2020 to around 16.0% in 2050. Furthermore, according to an October 2021 factsheet published by the World Health Organization, there will be 1.4 billion individuals over the age of 60 in the world by 2030, up from 1 billion in 2020. As a result, the ageing population is fueling the expansion of the pharmaceutical contract packaging industry.
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The pharmaceutical contract packaging market covered in this report is segmented –
1) By Product: Primary Packaging, Secondary Packaging, Tertiary Packaging
2) By Material: Paper and Paperboard, Plastics and Polymers, Aluminum Foil, Glass, Other Materials
3) By Industry: Small Molecule, Biopharmaceutical, Vaccine
Top Major Players
Nipro Corporation
Daito Pharmaceutical Co Ltd.
Pfizer CentreOn
Catalent Inc.
WestRock Company
Technological innovation is a key trend gaining popularity in the pharmaceutical contract packaging market. Major players in the pharmaceutical contract packaging industry are concentrating on creating new technological advancements to improve their market share. For instance, in November 2022, Gerresheimer AG, a Germany-based drug delivery systems company, and Stevanato Group, an Italy-based drug containment, drug delivery and diagnostic solutions company, launched EZ-fill Smart. The EZ-fill Smart technology provides a proven seamless integration with standard fill & finish operations. The platform also accommodates both small and large batch production. The EZ-fill Smart is a solution that is designed to improve drug packaging quality, reduce total cost of ownership (TCO), and shorten lead times for customers and helps in implementing a new eco-friendly sterilization method, and using biopolymers and recycled plastic.
The pharmaceutical contract packaging market report table of contents includes:
1. Executive Summary
2. Pharmaceutical Contract Packaging Market Characteristics
3. Pharmaceutical Contract Packaging Market Trends And Strategies
4. Pharmaceutical Contract Packaging Market – Macro Economic Scenario
5. Global Pharmaceutical Contract Packaging Market Size and Growth
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31. Global Pharmaceutical Contract Packaging Market Competitive Benchmarking
32. Global Pharmaceutical Contract Packaging Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Pharmaceutical Contract Packaging Market
34. Pharmaceutical Contract Packaging Market Future Outlook and Potential Analysis
35. Appendix
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