Pharmaceutical Contract Packaging Market 2024 | Market Size, Key Drivers, Industry Developments, Share, Future Growth Prospects And Forecast To 2033
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).
Learn More On The
Pharmaceutical Contract Packaging Market:
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
...........................
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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