Rising Medication Demand Propels Growth: Pharmaceutical Plastic Packaging Market Soars at 5.8% CAGR

The global pharmaceutical plastic packaging market is on track to achieve significant growth, with an estimated net worth of US$ 54,820.9 million in 2023. Projections suggest a robust CAGR of 5.8% between 2023 and 2033, culminating in a valuation of US$ 96,339.2 million by 2033.

Driving Factors: Pharmaceutical Industry Expansion and Chronic Disease Prevalence

The increasing development of medications and drugs worldwide, coupled with the rising prevalence of chronic diseases, is driving the adoption of pharmaceutical plastic packaging solutions. Pharmaceutical companies are investing in custom packaging solutions to meet export demands and ensure product safety and integrity.

Upward Trend in Market Growth

The pharmaceutical plastic packaging market is poised for continued growth from 2023 to 2033, driven by the escalating consumption of food supplements and growing health consciousness among consumers. The expanding pharmaceutical industry and ongoing research for new drugs are key factors fueling market growth.

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Plastic Bottles and Containers: Exponential Growth Opportunities

The introduction of plastic bottles and containers for pharmaceuticals, equipped with child-resistant caps and closures, presents significant growth opportunities for manufacturers. Child-safe packaging and contamination-free drug delivery are enhancing the demand for plastic packaging solutions, especially for cannabis-based medicines.

Growth Drivers in the Pharmaceutical Plastic Packaging Industry:

1. Increasing Drug Production: The pharmaceutical industry is experiencing a surge in drug development and production, driving the demand for innovative and efficient packaging solutions to ensure product safety and compliance.
2. Stringent Regulatory Requirements: Growing regulatory requirements for pharmaceutical packaging, including child-resistant and tamper-evident features, are pushing companies to adopt advanced plastic packaging solutions that meet these standards.
3. Rising Healthcare Expenditure: As global healthcare expenditure continues to rise, there is a corresponding increase in pharmaceutical consumption. This growth in demand is propelling the need for packaging solutions that enhance drug stability, shelf life, and ease of use.
4. Focus on Patient Convenience: With a shift towards patient-centric healthcare, there is a growing emphasis on packaging designs that enhance patient convenience, such as unit-dose packaging, blister packs, and user-friendly features.
5. Advancements in Material Technology: Continuous innovations in plastic materials and packaging technologies, such as smart packaging with sensors for monitoring drug integrity, are driving growth in the pharmaceutical plastic packaging market.

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Innovation Quotient (IQ) Reshaping the Sector

Manufacturers are developing pharmaceutical packaging solutions with tamper-evident and anti-counterfeiting features, catering to the stringent requirements of the exporting sector. Biodegradable plastic packaging is emerging as a competitive edge, offering enhanced product differentiation.

Shift from Metal or Glass to Plastic Packaging

There is a noticeable shift in demand from glass to plastics-based medical packaging due to lower production costs, global availability, and the convenience, durability, flexibility, and sustainability offered by plastic materials. Sleeve labeling, a widely preferred option, is more convenient for use on plastics compared to glass.

Industry Trends:

1. Sustainable Packaging Solutions: The pharmaceutical industry is increasingly adopting environmentally friendly packaging materials and practices, driven by a global trend towards sustainability. This includes the use of recycled plastics, biodegradable materials, and reduced packaging waste.
2. Digitalization and Smart Packaging: Integration of digital technologies into pharmaceutical packaging, such as RFID tags and QR codes, enables improved traceability, anti-counterfeiting measures, and real-time monitoring of product integrity, contributing to enhanced safety and compliance.
3. Customization and Personalization: Growing demand for personalized medicine is influencing the development of customized packaging solutions. This includes packaging designs tailored to specific drug formulations, dosages, and patient needs.
4. Rise of Biopharmaceuticals: The increasing prevalence of biopharmaceuticals and biologics in the pharmaceutical industry is impacting packaging requirements. Plastic packaging solutions are evolving to address the unique challenges associated with storing and delivering these complex and sensitive products.
5. E-commerce Impact: The rise of online pharmacies and e-commerce in the pharmaceutical sector is influencing packaging trends. There is a growing need for packaging that not only ensures product safety during transportation but also provides a user-friendly experience for consumers receiving medications through online channels.

Key Companies Profiled              

1. Gerresheimer AG
2. SCHOTT AG
3. Alpha Packaging Holdings Inc
4. Klöckner Pentaplast Group
5. Amcor Plc
6. Berry Global, Inc
7. Becton, Dickinson and Company
8. Parekhplast India Ltd
9. West Pharmaceutical Services, Inc
10. Wipak Group
11. Mondi Plc.
12. Sealed Air Corporation
13. Constantia Flexibles Group GmbH

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Key Segments Covered

By Product:

• Plastic Bottles
• Caps & Closures
• Pre-fillable Inhalers
• Pre-fillable Syringes
• Ampoules & Vials
• Blister Packs
• Bags & Pouches
• Jars & Canisters
• Cartridges
• Other Products

By Material Type

• Polyethylene (PE)
• Polypropylene (PP)
• Polyethylene Terephthalate (PET)
• Polyvinyl Chloride (PVC)
• Polyamide (PA)
• Cyclo-olefin Polymer (COP)
• Cyclo-olefin Copolymer (COC)
• Other Materials

By Packaging Type:

• Flexible Packaging
• Rigid Packaging

By Drug Delivery Mode:

• Oral Drug Delivery Packaging
• Injectable Packaging
• Topical Drug Delivery Packaging
• Pulmonary Drug Delivery Packaging
• Transdermal Drug Delivery Packaging
• Ocular Drug Delivery Packaging
• Nasal Drug Delivery Packaging
• Other Drug Delivery Packaging

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa (MEA)

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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