Press Release

Pharmaceutical Plastic Packaging Market to Grow with a CAGR of 6.35% through 2028

Increase in the Pharmaceutical Industry and technological advancements in plastic manufacturing is expected to drive the Global Pharmaceutical Plastic Packaging Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Pharmaceutical Plastic Packaging Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Pharmaceutical Plastic Packaging Market stood at USD 72.18 billion in 2022 and is anticipated to grow with a CAGR of 6.35% in the forecast period, 2024-2028. The awareness among individuals regarding Pharmaceutical Plastic Packaging has led to favorable market conditions for the global Pharmaceutical Plastic Packaging market. Several factors contribute to the growth of various Pharmaceutical Plastic Packaging products.

The increasing development of new drugs and exploring advanced drug delivery systems. This dynamic environment necessitates packaging solutions that can keep pace with the changing nature of pharmaceutical products. As pharmaceutical manufacturers strive to meet the demands of the market by introducing new medications and formulations, the need for flexible and adaptable plastic packaging becomes increasingly evident.

The pharmaceutical industry, like any other, is cost-conscious. Plastic packaging materials offer cost-effective alternatives to traditional packaging options like glass. They are generally lighter, reducing transportation costs and minimizing the risk of breakage during transit. Moreover, as sustainability gains prominence, many pharmaceutical companies are opting for plastic packaging that is designed with recyclability and reduced environmental impact in mind. This not only aligns with corporate sustainability goals but also appeals to environmentally conscious consumers, which will further fuel market growth.

In September 2023, Berry Global initiated a formal process to evaluate strategic alternatives for its Health, Hygiene and Specialties (HH&S) segment. This includes a potential sale of the segment, as well as other options such as a spin-off or joint venture. The HH&S segment produces a variety of plastic packaging products for the healthcare, hygiene, and specialty markets.

The pharmaceutical landscape has witnessed a notable shift towards biopharmaceuticals and specialized medications. These products often have unique packaging requirements, including the need for specialized plastics that can maintain the stability of biologics and protect them from contamination. As biopharmaceuticals continue to gain prominence, the demand for tailored plastic packaging solutions will likely increase, driving further growth in the industry.

In today's fast-paced world, Pharmaceutical plastic packaging is designed with precision to provide a secure and tamper-evident barrier around medications. In a fast-paced world, where products often travel long distances and go through various handling processes, ensuring the integrity and safety of pharmaceuticals is paramount. Plastic packaging materials excel at protecting medications from external contaminants, moisture, light, and air, all of which can compromise their effectiveness. Patients and healthcare providers can trust that the medications they receive are in pristine condition, contributing to better healthcare outcomes. The lightweight nature of plastic packaging materials is a significant advantage in our fast-paced society. Pharmaceuticals packaged in plastic are easier to handle and transport, reducing the risk of accidents and breakages during shipping and distribution. This is particularly important in emergency situations and when rapid responses are required, such as during a healthcare crisis. The pharmaceutical industry is characterized by rapid advancements and shifts in market demand. Pharmaceutical plastic packaging offers the flexibility needed to adapt to these changes swiftly. Manufacturers can quickly adjust packaging designs, introduce new features, and customize packaging to meet the evolving requirements of the market. This adaptability ensures that pharmaceutical products can keep pace with emerging trends and technologies.

           

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Regulatory bodies and governments across the world impose stringent standards on pharmaceutical packaging to ensure the safety and efficacy of pharmaceutical products. Plastic packaging materials have the advantage of being able to meet these rigorous requirements. They can provide a secure and tamper-evident barrier, helping to maintain the integrity of pharmaceutical products from production to the end-user.

In recent times, Pharmaceutical plastic packaging serves as a protective shield for medications, safeguarding them from external elements such as moisture, light, air, and contaminants. In recent times, as global health crises and emergencies have highlighted the urgency of distributing medications swiftly and efficiently, plastic packaging ensures that drugs retain their integrity and efficacy during transit and storage. In an era where counterfeit drugs pose a serious threat to public health, pharmaceutical plastic packaging incorporates tamper-evident features. These features help verify the authenticity of medications and provide an added layer of security, assuring patients that the products they receive have not been tampered with. However, the Stringent Regulatory Compliance may hinder market growth. Moreover, challenges related to Sustainability and Environmental Concerns and Innovative Packaging Technologies may pose obstacles to the Pharmaceutical Plastic Packaging market in the near future.

The Global Pharmaceutical Plastic Packaging Market is segmented into raw material, product type, regional distribution, and company.

Based on its formulation, Polypropylene is known for its exceptional durability and strength. Pharmaceutical products often require robust packaging to protect them from external factors such as moisture, light, and physical damage during storage and transportation. PP's strength and resistance make it an ideal choice for safeguarding the integrity of pharmaceuticals, especially those that are sensitive to environmental conditions. Pharmaceutical packaging must be resistant to a wide range of chemicals, including those used in drug formulations. Polypropylene exhibits excellent chemical resistance, ensuring that it does not react with or contaminate the medications it houses. This property is critical in maintaining the purity and efficacy of pharmaceutical products.

Based on region, North America boasts one of the largest pharmaceutical industries globally, with a significant demand for pharmaceutical packaging solutions. The presence of numerous pharmaceutical companies, research institutions, and healthcare facilities contributes to the robust demand for plastic packaging in this region. North America, particularly the United States, has stringent regulatory requirements for pharmaceutical packaging to ensure patient safety and product integrity. This necessitates the use of high-quality packaging materials, including pharmaceutical-grade plastics. North American pharmaceutical companies are at the forefront of adopting innovative packaging technologies, including smart packaging and eco-friendly materials. This drive for innovation has contributed to the dominance of the region.

The Asia-Pacific market is poised to be the fastest-growing market, offering lucrative growth opportunities for Pharmaceutical Plastic Packaging players during the forecast period. Factors such as Asia-Pacific are experiencing substantial growth in its pharmaceutical industry, driven by factors such as population growth, increasing healthcare expenditure, and rising demand for medications. This growth directly fuels the demand for pharmaceutical plastic packaging. Countries like India and China have become global hubs for pharmaceutical manufacturing due to cost-effective production capabilities. This has attracted pharmaceutical companies from around the world, leading to increased demand for packaging materials. The rising middle-class population in Asia-Pacific countries has increased access to healthcare services and medications.

 

Major companies operating in Global Pharmaceutical Plastic Packaging Market are:

  • Gerresheimer AG
  • Amcor PLC
  • Berry Plastics Group Inc.
  • Aptar Group Inc.
  • Berk Company LLC
  • Pretium Packaging LLC
  • Klockner Pentaplast Group Ltd
  • Comar LLC
  • Gil Plastic Products Ltd
  • Drug Plastics Group Inc

 

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“The Technological Advancements in Plastic Manufacturing and Rise of Biopharmaceuticals and Specialized Medications are key drivers of the Pharmaceutical Plastic Packaging market. In recent years, Pharmaceutical products are sensitive to various environmental factors, including moisture, light, and air. These factors can degrade the efficacy and stability of medications. Moreover, the growing consumer emphasis on preventative healthcare products has enhanced production and marketing efforts. To meet the demands of the market, manufacturers are increasingly incorporating cutting-edge technologies with high production efficiency. Rising consumer acceptance and continuous product innovation will further ensure the growth of the Pharmaceutical Plastic Packaging and supplements market in the coming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Pharmaceutical Plastic Packaging Market – Global Industry Size, Share, Trends, Opportunity, & Forecast 2018-2028 Segmented By Raw Material (Polypropylene (PP), Polyethylene Terephthalate (PET), Low Density Polyethylene (LDPE), High Density Polyethylene (HDPE), Other), By Product Type (Solid Containers, Dropper Bottles, Nasal Spray Bottles, Liquid Bottles, Oral Care, Pouches, Vials and Ampoules, Cartridges, Syringes, Caps and Closures, Other), By Region, Competition”, has evaluated the future growth potential of Global Pharmaceutical Plastic Packaging Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Pharmaceutical Plastic Packaging Market.

 

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