Estimated to be worth USD 132.0 billion in 2023, the report “Pharmaceutical Packaging Market by Raw Material (Plastic, Paper & Paperboard, Glass, Metal), Type (Plastic Bottles, Blisters, Caps & Closures, Labels & Accessories, Pre-filled Syringes), Drug Delivery, and Region – Global Forecast to 2028” projects the market’s growth to USD 269.9 billion by 2028 at a compound annual growth rate of 15.4%. The pharmaceutical packaging market is expanding due to factors such as rising urbanization, changing lifestyles, rising disposable income, growing need for sustainable packaging, and greater worldwide awareness of illnesses. The high cost of raw materials used in the production of packaging items is one issue, though. The main obstacles that restrict access to healthcare services include lack of funds, ignorance, antiquated technology, inadequate personnel, and knowledge of appropriate healthcare procedures. The growing need for environmentally friendly packaging presents opportunities as it lowers waste and the negative effects of pharmaceuticals on the environment.
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269 Tables with Market Data
57 Illustrations
“Pharmaceutical Packaging Market – Global Forecast to 2028” is a com
prehensive TOC spanning 310 pages.
Among the well-known pivotal figures are:
· Berry Global Group, Inc., USA
· Gerresheimer AG, located in Germany
· Amcor Plc, a Swiss company
· Schott AG, located in Germany
AptarGroup, Inc. (US)
Drivers: The market is driven by rising healthcare costs and the pharmaceutical sector in developing nations.
In emerging nations, the pharmaceutical business is growing quickly because to improved company collaboration, sophisticated production techniques, and technology advancements. The pharmaceutical packaging market is being driven by this expansion, which is anticipated to have the most impact in rising economies like China, Russia, Brazil, and India. The market is expanding in these areas due to factors such a focus on better lives, growing income levels, and a greater understanding of the advantages of having strong healthcare systems. A vast population base and demographic trends, such as an increasing number of young people and longer life expectancies, are other important factors contributing to this expansion.
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Throughout the projected period, plastic is the raw material in the pharmaceutical packaging market that is increasing the quickest.
Plastics may absorb light and are permeable to oxygen, carbon dioxide, and moisture unless the plastic container is colored. In an effort to cut waste and lessen its impact on the environment, the pharmaceutical sector is looking more and more into recyclable and sustainable packaging materials. The widespread use of plastics in over-the-counter medications, blister packaging, prefilled syringes, and oral drug administration methods is driving this market sector.
In terms of value, the pharmaceutical packaging industry is expanding at the quickest rate in Asia Pacific.
Because of its expanding population and increased uptake of cutting-edge technology, Asia Pacific is the area with the quickest rate of growth in the pharmaceutical packaging industry. Pharmaceutical packaging suppliers have significant development potential as a result of the region’s better healthcare infrastructure and easier access to healthcare services. The Asia Pacific region’s rising markets are expected to grow rapidly in the years to come due to a number of causes including growing government efforts, changing lifestyles, an aging population, and increased contract manufacturing operations.
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