Global Expansion and Market Penetration: Opportunities in the Evolving Pharmaceutical Packaging Sector by 2034

With an estimated value of US$ 108.9 billion in 2024, the pharmaceutical packaging market is expected to experience a steady increase, projecting a Compound Annual Growth Rate (CAGR) of 6.4% from 2024 to 2034. Projections indicate that the global pharmaceutical packaging market will soar to US$ 214.7 billion by 2034. This growth trajectory underscores the escalating demand for pharmaceutical packaging solutions, driven by factors such as population growth, increasing healthcare needs, and advancements in pharmaceutical research and development. As the pharmaceutical industry continues to evolve, the demand for innovative and secure packaging solutions is set to grow significantly in the coming decade.

Growing demand for pharmaceutical products due to increasing prevalence of various diseases and rising health awareness is a key factor driving the global pharmaceutical packaging Industry forward.

Subsequently, innovation in packaging such as development of eco-friendly and sustainable pharmaceutical packaging will boost the market during the projection period.

Packaging of the pharmaceutical products is a key concern for drug manufacturers and consumers. Any negligence in packaging material or technologies can have devastating results. As a result, companies choose safe and effective packaging solutions for their medicinal products.

Packaging solutions for pharmaceutical products include primary packaging such as bottles, vials, ampoules, blisters, and several others, as well as secondary packaging like boxes and cartons.

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The recent exponential growth in sales of pharmaceutical packaging solutions is related to the rising need for child-resistant packaging formats to prevent children from suddenly consuming excessive amounts of medicine in absence of parents.

Pharmaceutical packaging has grown in popularity over the past few years since it provides safe and secure packaging solutions for a variety of pharmaceutical products, such as drugs or medications. Growing production and consumption of pharmaceuticals will eventually boost pharmaceutical packaging sales during the forecast period.

Future Market Insights anticipates that there will be ample opportunities for the manufacturers of pharmaceutical packaging during the projection period due to rising spending on pharmaceutical products across the world.

Key Takeaways from Pharmaceutical Packaging Market

By product type, the bottles segment is forecast to hold more than 31.3% of the value share by the end of 2033.
Based on material type, plastics segment is projected to increase at a CAGR of 7.6% during the forecast period, creating an incremental opportunity of US$ 67.4 billion by the end of 2033.
North America pharmaceutical packaging market is expected to expand by 2.1x of its current market value through 2033.
With rising consumption of pharmaceutical products as well as expansion of the pharmaceutical sector, Asia Pacific Excluding Japan (APEJ) market is anticipated to expand by 2.6x of current market value by 2033.
The USA is forecast to account for around 95.1% share of North America pharmaceutical packaging industry by the end of 2033.

“Growing need for protecting medicinal products from physical, biological, and chemical factors as well as to maintain their integrity is expected to generate lucrative prospects for the global pharmaceutical packaging market during the forecast period. Besides this, development of sustainable pharmaceutical packaging will bode well for the market,” says an FMI analyst.

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Who is Winning?

Amcor Plc
Ardagh Group S.A.
Becton, Dickinson and Company
Berry Global Group, Inc.
Bilcare Limited
Catalent, Inc.
Clondalkin Group Holdings B.V.
Constantia Flexibles Group GmbH
Gerresheimer AG
Klöckner Pentaplast Group
Mondi Group
Nipro Corporation
Piramal Glass Private Limited
Schott AG
Sealed Air Corporation
Uflex Ltd.
others

Ardagh Group S.A., Amcor plc, Becton, Dickinson and Company, Berry Global Group, Inc., Westrock Company, and Mondi group, are the top pharmaceutical packaging manufacturers operating in the global market. As per FMI’s latest analysis, around 70% to 80% of the global market is expected to be held by Tier 3 players. Subsequently, key players contribute around 20 to 30% of the global market.

Pharmaceutical Packaging Industry by Category

By Product Type: