Your payment is in progress...

Pharmaceutical Packaging Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2026)

Published on: Jan 2021 | From USD $4250 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 120

The pharmaceutical packaging market was valued at USD 73.49 billion in 2020 and is expected to reach a value of USD 118.01 billion by 2026 and grow at a CAGR of 8.24%, during the forecast period (2021-2026). Pharmaceutical packaging are basically packaging products that are made using compatible materials, for transfer and storage of drug. Based on the nature of the drug, packaging products are chosen from a range of material types and product types, to provide protection, identification, and ensure the integrity of the enclosed drug product.

- Pharmaceutical drugs needed to be safeguarded from various hazards that include mechanical, chemical, biological, and climate. Pharmaceutical packaging is done using a variety of raw materials, including plastics, paper and paperboards, glass, and metal, among others, in different drug delivery modes, such as oral, pulmonary, injectable, transdermal, topical, interventional, nasal, and ocular.
- The pharmaceutical industry across the world has evolved considerably, owing to various factors that include the growth in regulatory norms worldwide and focus on population health management and invention. In addition, the growth in the demand for over-the-counter medicines and more informed customer base are also driving the growth of the market.
- Packaging manufacturers are ensuring that the design of pharmaceutical containers for biologics address the challenge of extractables and leachables (E&L) that can diminish a biologic’s purity and therapeutic effectiveness due to the risk of drug/container interaction. For instance, syriQ BioPure syringes are designed such that a range of coated plunger stoppers address the challenges, especially for sensitive applications. The company tested more than 48 different combinations featuring elastomer components with premium quality.
- Furthermore, nanotechnology, the science of very small materials, has a huge impact on pharmaceutical packaging, as it enables the introduction of innovative and new-gen packaging solutions to the market, thus, driving the growth. Improved barrier properties in plastics and enhanced functionality for nanotechnology facilitates the growth of the pharmaceutical packaging market. Hence, innovations in nanotechnology aid the growth and expansion of the plastic pharmaceutical packaging segment.
- The spread of COVID-19 negatively impacted the market due to disruptions in supply chain, as a result of extended factory closures globally. Logistically, it has been difficult for bottles, blister packaging, prefillable syringes, vials, and ampoules manufacturers to provide to pharma companies.
- For instance, AGI glaspac’s pharma segment, which currently contributes 30%- 32% of glass packaging in the Indian pharma packaging industry, is facing hampered production, affected supplies and increased stock. So far, the company is working partially with limited raw materials like sand and soda ash, the key input raw materials for glass packaging.

Key Market Trends

Glass Packaging Hold Significant Market Share

- Glass packaging is one of the primary packaging materials used by the pharmaceutical industry, as it limits the alkalinity and hydrolytic resistance of the glass container. Within the pharmaceutical packaging market, glass bottles are expected to occupy a significant share by volume, driven by an increasing number of applications in both solid and liquid oral medications, as containers provide convenience, safety, and security.
- Glass containers offer high transparency, which allows easy inspection of its contents, and enables protection because it is relatively impermeable to air and moisture and chemical resistance to most of the medicinal products. Moreover, the demand for pharmaceutical glass and containers is majorly from densely populated economies, such as India and China. The growing pharmaceutical production in these countries is further increasing demand.
- Moreover, the increasing demand for injectable pharmaceuticals is significantly driving the growth of glass bottles in the pharmaceutical sector. The robust demand for oncology and other high-potency drugs (such as antibody conjugates, steroids, and IV fluids that require quick onset of action) is expected to be the key growth driver.
- The increasing number of people who have diabetes is significantly supporting the growth of glass bottles for injectable pharmaceuticals. According to the World Health Organization (WHO), around 422 million people have diabetes around the world. The growth in this number increases the demand for penicillin, which is, thereby, contributing to the growth of the market.

North America to Occupy Largest Share

- North America is known for its technological development and product innovations, which is motivating manufacturers to produce high-class packaging solutions for the pharmaceutical industry. Major factors driving the North American pharmaceutical packaging market's growth include the contribution of nanotechnology advancement in manufacturing processes and technological innovation, growing demand for drug delivery devices, and blister packaging to the pharmaceutical packaging market.
- The United States will continue to be the largest national pharmaceutical packaging market as its advanced drug-producing sector commercializes new sophisticated therapies with specialized packaging needs. Advances in pharmaceutical packaging in the country are focused on improving the barrier properties of the packaging material.
- Moreover, the United States dominates the North American market for pharmaceutical glass packaging due to global players' presence, like Owens Illinois, Corning, and Gerresheimer. These companies cater to some of the largest pharmaceutical companies, like Abbott, Pfizer, Roche, and Novartis. These pharmaceutical companies cater to both domestic and international customers from their North American facilities.
- As people become more health-conscious and adopt a healthy lifestyle in the United States and Canada, the sale of a pharmaceutical drug is increasing. This makes the sales of pharmaceutical packaging products, such as a refillable syringe, vial, blister packs, etc. There is a need for constant innovation in the United States market, as stringent regulations by agencies, such as the FDA, require manufacturers to comply with stringent regulations while packaging drugs in the region.

Competitive Landscape

The pharmaceutical packaging market is fragmented, established companies are focusing on innovation and acquisition. Companies invest a large amount of their resources and money in R & D to innovate new products, meeting with the environment, and government compliance. Digital mass serialization is becoming a popular solution to combat counterfeiting. Some of the recent developments in the market are -

- Mar 2019 - West Pharmaceuticals opened New Digital Technology Center in Bengaluru, India. This Digital Technology Center will allow West Pharmaceutical team to create compelling digital experiences for their global customer base, source talent from India's fast-growing technology industry, and bring forward the latest digital advancements to create insights and value for their customers and team members for ultimately delivering better business results.
- April 2019 - SCHOTT invested BRL 50 million in its pharmaceutical tubing production in Rio de Janeiro, as part of its global growth strategy. As the demand in pharmaceutical industries increases, SCHOTT is contributing to manufacture 100% inspection of glass tubing to detect possible defects.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Bargaining Power of Buyers
4.3.2 Bargaining Power of Suppliers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Impact of COVID-19 on the Pharmaceutical Packaging Market

5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Introduction of Regulatory Standards on Packaging and Stringent Norms against Counterfeit Products
5.1.2 Impact of Nanotechnology due to Innovative and New- Generation Packaging Solutions
5.2 Market Challenges
5.2.1 Fluctuations in Raw Material Cost Due to Suppliers Bargaining Power

6 MARKET SEGMENTATION
6.1 By Material
6.1.1 Plastics
6.1.2 Glass
6.1.3 Other Matetials
6.2 By Product Type
6.2.1 Bottles
6.2.2 Syringes
6.2.3 Vials and Ampoules
6.2.4 Tubes
6.2.5 Caps and Closures
6.2.6 Labels
6.2.7 Other Product Types
6.3 Geography
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 Germany
6.3.2.2 United Kingdom
6.3.2.3 France
6.3.2.4 Italy
6.3.2.5 Spain
6.3.2.6 Rest of Europe
6.3.3 Asia Pacific
6.3.3.1 China
6.3.3.2 Japan
6.3.3.3 India
6.3.3.4 South Korea
6.3.3.5 Rest of Asia Pacific
6.3.4 Latin America
6.3.4.1 Brazil
6.3.4.2 Mexico
6.3.4.3 Rest of Latin America
6.3.5 Middle East and Africa
6.3.5.1 United Arab Emirates
6.3.5.2 Saudi Arabia
6.3.5.3 South Africa
6.3.5.4 Rest of Middle East and Africa

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Amcor Limited
7.1.2 3M Company
7.1.3 Schott AG
7.1.4 WestRock Company
7.1.5 Berry Global Inc.
7.1.6 McKesson Corporation
7.1.7 AptarGroup Inc.
7.1.8 Klöckner Pentaplast Group
7.1.9 CCL Industries Inc.
7.1.10 FlexiTuff International Ltd
7.1.11 Gerresheimer AG
7.1.12 West Pharmaceutical Services, Inc.
7.1.13 Becton, Dickinson and Company
7.1.14 Vetter Pharma International GmbH
7.1.15 Catalent Inc.
7.1.16 W. L. Gore & Associates Inc.
7.1.17 PackMaxQ

8 INVESTMENT ANALYSIS

9 MARKET OPPORTUNITIES AND FUTURE OF THE MARKET

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

FAQs

Market research is a defined process to collect information about customers, competitors, and everything that a business needs to understand to sustain and grow. It offers important analysis to distinguish and examine the market needs, size, and trends. Market research is generally divided into, primary research and/or secondary research.

The process usually includes collection and interpretation of market data by using statistical and analytical techniques to support the decision making process.

The report helps in identifying and tracking emerging players in the market and their portfolios, enhances decision making capabilities and helps to create effective counter strategies to gain competitive advantage.

Market research reports provide in-depth analysis about the market conditions and requirements for effective decision making.
The report provides a snapshot of the global market size, segmentation data, marketing growth strategies, market share, export and import information, analysis and forecast of market trends, competition, domestic production, best sales prospects, statistical data, tariffs, regulations, distribution and business practices, end-user analysis, contact points and more.

These research reports include information about competitive strategies, solutions, fact-based research, key takeaways, recommendations, market considerations, emerging business models and market opportunities for multiple segments of an industry.

Market research reports assist in solving business problems and making better decisions to improve business as per the prevalent market trends.
When you place an order with MarketInsightsReports, we try our best to deliver the product as soon as possible. The report will be delivered to you either by email or by physical delivery. If it’s delivered by email the order will be dispatched on the same working day or on the next working day of receipt of payment (unless otherwise specified on our website). There may be exceptions to this if you place order on a non-working day specifically because our publisher partners are located all over the globe. In case of physical delivery report will be couriered to you within 3 working days from the date of the receipt of payment and delivery time will differ based on your location

Any person who has the capacity to make decisions for the business must buy the reports. These reports help management in decision making process. Market research helps person to obtain market information from different sources, and in multiple formats. It aims to study supply and demand, analyze data as per geography, age factors, demography, technology, product, psychographic & gender differences, and many other parameters. Access to in-depth market trends helps person to assess the market effectiveness. Some of the multiple techniques used for market research include customer analysis, choice modeling, competition and risk analysis, product research, advertising the research, marketing mix modeling, simulated test marketing, and more.
Market research studies several features of business environment, such as competitors, market structure, government regulations, economic trends, technological advances and financial analysis of companies, industries, and sectors. This helps person in the decision-making process of planning and implementing strategies for their markets.

The generation of research report is concerned by most clients when purchasing it. Following general steps are taken for generating reports.
1. Choose a topic.
2. Make skeleton catalogue.
3. Fill content. As for report content, there are two main information source, Primary and Secondary data collection. Secondary data collectionrefers to information searched from the Internet or data bought from database. Primary data collection refers to information concluded from telephone interview, face-to-face interview, expert’s interview, meeting etc.
4. Audit the report
5. Publish the report.

With regard to information cost, information searching costs the least, database support the second least, and telephone interview the third least. Face-face interview cost higher, in-depth interview much higher and expert interview the highest. A research may adopt all of these approaches, or just some of them.
In general, a good-quality research report needs 1-3 months to be finished. Time and method varies according to different Publishers. Thus, it’s difficult to define an exact procedure or process of making research report. Both time and cost vary. However, specialization has become a basic industry standard. Professional and dedicated products will be more and more popular.
MarketInsightsReports has focused on various fields such as Life Science, IT, Telecommunication, Food& Beverages, Energy & Power, Automotive & Transportation, Materials& Chemicals, Financial Services and many more. These market research reports are available for all regions around the globe.
When you place an order with MarketInsightsReports, we try our best to deliver the product as soon as possible. The report will be delivered to you either by email or by physical delivery. If it’s delivered by email the order will be dispatched on the same working day or on the next working day of receipt of payment (unless otherwise specified on our website).

There may be exceptions to this if you place order on a non-working day specifically because our publisher partners are located all over the globe. In case of physical delivery report will be couriered to you within 3 working days from the date of the receipt of payment and delivery time will differ based on your location

Please Choose License Type

USD $4250
USD $4750
USD $6000
USD $7500
Offer

Why Us

  • Why Us In-depth database
    Our Report’s database covers almost all topics of all regions over the Globe..
  • Recognised publishing sources Recognised publishing sources
    Tie ups with top publishers around the globe.
  • Customer Support Customer Support
    Complete pre and post sales support.
  • Safe & Secure Safe & Secure
    Complete secure payment process.