Global Pharmaceutical Caps and Closures Market Set for Robust Growth, Reaching USD 4,469.4 Million by 2033

The global pharmaceutical caps and closures market is poised for substantial growth, as projected by the latest report from Future Market Insights (FMI). The market, valued at USD 2,541.5 million in 2023, is anticipated to achieve a significant Compound Annual Growth Rate (CAGR) of 5.8% through to 2033, reaching a valuation of USD 4,469.4 million.

FMI’s comprehensive report underscores a consistent increase in demand for pharmaceutical caps and closures, reflecting the industry’s dynamic evolution and the expanding global pharmaceutical sector. The market’s growth trajectory signifies robust opportunities for stakeholders across the pharmaceutical packaging landscape.

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Key factors contributing to this growth include advancements in pharmaceutical packaging technologies, stringent regulatory requirements enhancing the adoption of secure packaging solutions, and the continual expansion of the pharmaceutical industry worldwide.

“The pharmaceutical caps and closures market is witnessing transformative growth driven by innovation and increasing focus on product safety and efficacy,” stated a Future Market Insights. “As pharmaceutical companies strive for enhanced packaging solutions to ensure product integrity and compliance, the market is poised to capitalize on these evolving needs.”

The report also highlights significant regional trends and market dynamics shaping the future of pharmaceutical caps and closures. North America and Europe are expected to maintain prominent positions, driven by stringent regulatory frameworks and robust pharmaceutical manufacturing activities. Meanwhile, emerging economies in Asia Pacific and Latin America are projected to exhibit lucrative growth opportunities, fueled by expanding healthcare infrastructure and rising pharmaceutical production.

Top Highlights from the FMI’s Analysis of Pharmaceutical Caps and Closures Market:  

• North America’s pharmaceutical caps and closures industry gained a 29.6% market share in 2022.
• The United States pharmaceutical caps and closures industry is expected to acquire more than 26.5% in 2023.
• Europe region procured a 27.8% market share in 2022. Germany’s pharmaceutical caps and closures industry obtained a 4.8% market share in the same year.
• The United Kingdom market is projected to expand at a CAGR of 7.3% in the coming decade.
• In Asia Pacific, China, and India are projected to expand at a CAGR of 8.3% and 6.8%, respectively, in the forecast period.
• Australia’s pharmaceutical caps and closures industry is anticipated to expand at a CAGR of 4.5% from 2023 to 2033.
• Japan’s pharmaceutical caps and closures industry acquired a 6.4% market share, globally.
• Based on product, screw caps, and closures are projected to constitute 46.96% of the global market.
• Based on functionality, tamper evident segment is predicted to form more than 64.06% of the global market.
• Under the material category, the plastics segment is anticipated to contribute 60% to the global market.
• Based on drug modality, small molecules (synthetic drugs) secured 59.4% of the global market in 2022.
• Based on therapeutic class, anticancer drugs acquired a share of 20.5% in 2022.
• Based on end users, the pharmaceutical & biotechnology companies segment gained 52.8% of the entire market in 2022.

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Market Update: Key Innovations Taking Place in the Market

• Silgan Holdings acquired the dispensing business of Albea, which is a packaging firm, in June 2020. The dispensing business distributes sprayers, pumps, and foam dispensing solutions to large consumer goods firms. The business is operational in Europe, Asia, North America, and South America.
• Berry Global Group obtained RPC Group in July 2020. This acquisition helped in the positioning of the company as the global leader in value-added protective solutions and a significant plastic packaging company. Furthermore, the company has widened its global footprint spanning 290 locations the world over.

Who is winning?

• The global market is set to expand due to the rising prevalence of chronic diseases. Leading organizations within the market are set to focus on research and development to offer an early and precise diagnosis of the ailment, besides offering effective patient care.
• Some of the leading players in the pharmaceutical caps and closures market include but are not limited to Berry Global Inc., Amcor Plc, Aptar Inc., Closure Systems International Inc., O.Berk Company LLC, Bericap GmbH and Co KG, UNITED CAPS, CL Smith Company, Georg MENSHEN GmbH & Co. KG, WestRock Company, West Pharmaceutical Services Inc., Drug Plastics and Glass Co Inc., Gerresheimer AG, DWK Life Sciences GmbH, Parekhplast India Limited, and Parshva Exim Limited.

Pharmaceutical Caps and Closures Services Market by Category:

Product Type:

• Screw Caps & Closure
• Snap Caps & Closure
• Push-Pull Caps & Closure
• Stopper & Seals
• Others

Functionality:

• Child Resistant
• Tamper-evident

Material type:

• Plastic
• Elastomer
• Metal

Availability:

• Prescription (Rx) Pharmaceuticals
• Over-the-Counter (OTC) Pharmaceuticals

Drug Modality:

• Small Molecule (Synthetic Drugs)
• Biopharmaceuticals

Therapeutic class:

• Anticancer Drugs
• Anti-infective Drugs
• Anti-viral Drugs
• Anti-bacterial Drugs
• Anti-fungal Drugs
• Others
• Cardiovascular Drugs
• Anti-inflammatory Drugs
• Analgesics Drugs
• Anti-diabetics
• Ophthalmic Drugs
• Neurological Drugs
• Others

End Users:

• Pharmaceutical & Biotechnology Companies
• Contract Manufacturing Organizations (CMO)
• Contract Research Organizations (CRO)
• Academic & Research Institutes

Region:

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

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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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