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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"Global Pharmaceutical Plastic Packaging Market”
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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