Pharmaceutical Packaging Market worth US$ 229.9 billion by 2027- Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 12, 2023 /PRNewswire/ -- The report "Pharmaceutical Packaging Market by Raw Material (Plastics, Paper & paperboard, Glass, Metal), Type (Plastic Bottles, Blisters, Caps & Closures, Labels & Accessories, Pre-filled syringes), Drug Delivery, and Region - Global Forecast to 2027", size is projected to reach USD 229.9 billion by 2027 from USD 99.9 billion in 2021, at a CAGR of 14.9% during the forecast period.

The increasing demand for pharmaceutical packaging in emerging markets owing to growing consumer awareness regarding healthier lifestyle, better access to healthcare, rising healthcare expenses, and growth of the aging population. Also, advanced drug delivery and innovative packaging solutions with higher patient convenience and compliance drive the market for pharmaceutical packaging. Increasing occurrence of chronic diseases such as cancer, infectious diseases, and others and rising patient friendly packaging are also expected to drive the market for pharmaceutical packaging during the forecast period.

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Based on raw material, plastics is projected to register the highest CAGR during the forecast period.

Plastics are projected to register the highest CAGR between 2022 and 2027. Plastics &polymers are widely used as raw materials for pharmaceutical packaging. Plastic provides freedom of design and a cost-effective solution, making it a highly compatible solution for pharmaceutical packaging. Plastic is used widely in rigid pharmaceutical packaging for manufacturing various types of packaging such as bottles, jars, caps & closures. The exceptional shatter resistance provided by plastics enables ease of handling and transportation. In addition, plastics can be attributed to their easy moldability, strength, and effective barrier against gas and vapor.

Based on type, Prefilled syringes is projected to register the highest CAGR during the forecast period.

Prefilled syringes provide advantages such as minimal drug wastage, increased product lifespan, enhanced protection, ease of use, reliability, sterility, self-medication features, and others. Prefilled syringes are rapidly replacing vials and traditional syringes. The growing elderly population suffering from chronic diseases such as diabetes, cancer, and Parkinson's, needing regular treatment via dosing is one of the key drivers for this market.

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Based on drug delivery, Injectable delivery is projected to register the highest CAGR during the forecast period.

The injectable delivery segment is the fastest-growing market during the forecast period. Injectables are available as self-injection devices, prefilled syringes, auto-injectors, safety syringes, patch injectors, pen injectors, and others. Prefilled syringes are the most adopted method of injectable drug delivery The advantages of injectable packaging are improved patient compliance, prolonged steady-state drug plasma concentration, maximum drug utilization, reduced dosing frequency, self-injection option, and reduced cost of therapy.

Based on region, North America is estimated to be the largest market share for pharmaceutical packaging in 2022

North America is estimated to be the largest market share for pharmaceutical packaging in 2022. The rapidly evolving pharmaceutical therapies, new pharmaceutical drug innovation, and growing demand for smart packaging from pharmaceutical industries are driving the pharmaceutical packaging market in the region. The growing demand from aging people, the increase in chronic diseases such as diabetes, and the commercialization of pharmaceuticals with huge government investment are also one of major driving factors for the market.

Market Players

The key players in the pharmaceutical packaging market include Schott AG (Germany), Amcor PLC (Switzerland), AptarGroup,Inc (US), West Pharmaceutical Services, Inc. (US), Berry Global (US), Gerresheimer AG (Germany), Catalent,Inc (US), and WestRock (US) and others.

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