Pharmaceutical Packaging Market Size (2024 - 2029)

Pharmaceutical Packaging Market Analysis

The Pharmaceutical Packaging Market size is estimated at USD 102.10 billion in 2024, and is expected to reach USD 137.28 billion by 2029, growing at a CAGR of 6.10% during the forecast period (2024-2029).

• The pharmaceutical industry is growing worldwide, creating a need for packaging to treat communicable and non-communicable diseases. Therefore, the demand for packaging in pharmaceutical manufacturing is growing as it protects pharmaceuticals from damage, biological contamination, and external influences.
• Increased demand for pharmaceuticals is associated with technological advancements in the industry and directly creates demand for bottles, vials, and other packaging solutions. Additionally, the growing demand for injectables is driving the growth of glass vials in the pharmaceutical industry. Strong demand for oncology and other high-potency drugs (such as antibody conjugates and fast-acting steroids) and increasing per capita spending on pharmaceuticals are expected to be key growth drivers.
• The global demand scenario for pharmaceutical products has supported revenue generation in the packaging sector and is expected to continue during the forecast period. Overall, the pharmaceutical packaging market is projected to register a steady growth rate due to ongoing expansion and research and development to improve pharmaceutical packaging. Thus, demand is anticipated to increase significantly during the forecast period.
• The plastic packaging industry faces rising polymer costs, making plastics more expensive. Additionally, the war between Ukraine and Russia has pushed prices up again. The demand for plastics and plastic products is increasing Y-o-Y. The lack of supply to keep up with the increase in demand is also one factor driving higher polymer prices, which is expected to hinder market growth.
• Owing to the spread of COVID-19, the market is expected to grow significantly. Due to the COVID-19 pandemic, customers shifted toward online purchasing. The COVID-19 pandemic hit hard on expanding packaging materials in developing and developed countries. However, strong demand for sterilized pharmaceutical packaging encouraged investment in the landscape. Moreover, industry players expect the healthcare industry to show strong demand for packaging technology.

Pharmaceutical Packaging Industry Segmentation

The packages and packing procedures for pharmaceutical preparations are referred to as pharmaceutical packaging (or medication packaging). It involves every stage of the process, from drug production to the final consumer, via various distribution routes. The study considers revenues from the sales of different pharmaceutical packaging products offered by various vendors operating in the market. The market scope considers product types, including bottles, vials and ampoules, Syringes, caps and closures, labels, and others. The consumption value (USD) of pharmaceutical packaging is considered for the market size and forecasts. The market study factors the impact of COVID-19 on the overall pharmaceutical glass packaging market based on the prevalent base scenarios, key themes, and end-user vertical-related demand cycles.

The pharmaceutical packaging market is segmented by material (plastic, glass), product type (bottles, syringes, vials and ampoules, tubes, caps and closures, and labels), and geography (North America [United States and Canada], Europe [Germany, United Kingdom, France, Italy, Spain, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], Latin America [Brazil, Mexico, and Rest of Latin America], and Middle East and Africa [United Arab Emirates, Saudi Arabia, South Africa, and Rest of Middle East and Africa]). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.