Global Pharmaceutical Contract Packaging Market Report and Forecast 2024-2032

Global Pharmaceutical Contract Packaging Market Outlook

The global pharmaceutical contract packaging market size was valued at USD 24.18 billion in 2023. The market is further projected to grow at a CAGR of 7.5% between 2024 and 2032, reaching a value of USD 46.21 billion by 2032.

Key Takeaways

• The market is driven by the increasing demand for temperature-controlled products, biologics, and personalised medicines.

• Prefilled syringes are gaining popularity among healthcare professionals, as they offer convenience and accuracy for drug delivery.

• Some of the key players in the pharmaceutical packaging industry include Ropack Inc., PCI Pharma Services, Adelphi Healthcare Packaging, and UNICEP Packaging LLC.

Pharmaceutical contract packaging is the outsourcing for secondary activities such as product packaging and labelling to third parties. A contract pharmaceutical packager provides services, installations, as well as equipment, ranging from drug packaging design to the testing of the packaged drug. Pharmaceutical companies employ secondary packaging companies because it is more reliable, profitable, and helps them improve customer satisfaction and provides brand recognition.

A growing focus on sustainability is likely to drive the use of recyclable and biodegradable materials in pharmaceutical packaging products, which is predicted to aid in pharmaceutical contract packaging market growth. The thriving demand for convenient packaging, which makes it easier to manage the storage and use of pharmaceuticals, is expected to have a positive impact on the pharmaceutical contract packaging market outlook.

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Key Trends and Developments

Growing adoption of smart packaging technologies, rising environmental concerns, and increasing need for reliable packaging of medicines are increasing the demand for pharmaceutical contract packaging solutions

Global Pharmaceutical Contract Packaging Market Trends

One of the main factors that results in pharmaceutical contract packaging market development is the introduction of strict rules and regulations for product labelling. Moreover, pharmaceutical contract packaging companies can use different types of packaging and can easily solve problems arising from diverse packaging requirements, compared to drug makers. These manufacturers invest in research and development programs to improve the quality of their products.

Moreover, these organisations also help pharmaceutical firms establish a dynamic platform for distributing drugs and medical devices in various regions. Furthermore, the increasing use of smart packaging solutions, such as QR codes, is expected to provide a positive pharmaceutical contract packaging market outlook.

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Market Segmentation

Global Pharmaceutical Contract Packaging Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Sterile products to hold significant market share as they offer high level of quality and safety

The sterile product segment accounted for the largest share in pharmaceutical contract packaging market. Sterile products are those that are free from any viable microorganisms, such as injectables, ophthalmics, inhalables, and biologics. Sterile products require a high level of quality and safety, as they are directly administered to the patients. Therefore, the demand for sterile contract packaging is high, as it ensures the sterility, stability, and integrity of the products.

On the other hand, non-sterile products are those that do not require sterility, such as oral solids, oral liquids, topical creams, and gels. Non-sterile products require a lower level of quality and safety, as they are not directly administered to the patients. As per pharmaceutical contract packaging market analysis, the demand for non-sterile contract packaging is also high, as it offers flexibility to pharmaceutical companies and can be customised.

Plastic bottles will bolster the pharmaceutical contract packaging market growth as they are low in cost and easy to handle

The plastic bottles segment is expected to increase the pharmaceutical contract packaging market value as they are widely used for oral solid and liquid formulations, such as tablets, capsules, syrups, and suspensions. Plastic bottles also offer advantages such as low cost, high durability, easy handling, and recyclability.

Caps and closures are used to seal and protect the pharmaceutical products from contamination, tampering, and leakage. Caps and closures include screw caps, flip-top caps, child-resistant caps, tamper-evident caps, and dispensing caps. The caps and closures segment is expected to witness a growing pharmaceutical contract packaging market share due to the increasing demand for safe and secure packaging, the growing preference for convenience and ease of use, and the emergence of smart and interactive caps and closures.

Prefilled syringes are used for injectable formulations, such as vaccines, biologics, and biosimilars. Prefilled syringes consist of a glass or plastic barrel, a plunger, a needle, and a cap. Prefilled syringes are the fastest growing segment in the pharmaceutical contract packaging market as they offer advantages such as ease of administration, dosage accuracy, reduced wastage, and enhanced safety.

Furthermore, parenteral vials and ampoules are made of glass or plastic and have a rubber stopper and a metal seal. Parenteral vials and ampoules offer benefits such as sterility, stability, and compatibility. The pharmaceutical contract packaging market projects that share of parenteral vials and ampoules segment will grow at a steady rate. The growth of this segment can be attributed to the increasing demand for sterile and aseptic packaging, the rising incidence of infectious and chronic diseases, and the expansion of the biosimilar market.

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Competitive Landscape

Market players are providing contract packaging services to pharmaceutical manufacturers, ensuring efficient and reliable packaging solutions for medicines and healthcare products.

Other key players in the global pharmaceutical contract packaging market include Sharp Corporation, among others.

Global Pharmaceutical Contract Packaging Market Analysis by Region

United States leads the market share due to rising healthcare spending, which creates a demand for packaging solutions

The United States represents the world's largest market in pharmaceutical contract packaging, followed by China and India. The tremendous growth of pharmaceutical contract packaging market in United States is majorly driven by the rising healthcare spending, increasing geriatric population, and the increasing value of pharmaceutical exports. The growth is further driven by the high demand for innovative and specialised packaging solutions, the presence of leading pharmaceutical companies and contract packagers, and the stringent regulatory standards for quality and safety.

On the other hand, the pharmaceutical contract packaging market size in China is driven by the rapid growth of the pharmaceutical industry, the increasing outsourcing of packaging services, and the rising demand for biologics and biosimilars. According to pharmaceutical contract packaging market report, the Indian market is driven by the low-cost advantage, the availability of skilled labour, the increasing exports of generic drugs, and the growing domestic demand for pharmaceutical products.

Key Highlights of the Report