Pharmaceutical Container Market - Forecasts from 2024 to 2029

The pharmaceutical container market is evaluated at US$44.751 billion for the year 2022 growing at a CAGR of 4.26% reaching the market size of US$59.927 billion by the year 2029.

The pharmaceutical container is in greater demand as a result of rising healthcare costs and increased consumer interest in leading healthy lifestyles. The market for pharmaceutical containers is further driven by improved medication delivery, expanding developing economy markets like India, Thailand, China, and others, and novel packaging solutions with increased patient convenience and compliance. Additionally, raising customer knowledge of a better way of life will promote industry expansion. The pharmaceutical container industry is expanding as a result of the expanding pharmaceutical market, the growing tendency of contract packaging in the industry, technical improvements, and the expanding application of serialization and aggregation requirements. Additionally, developing nations' rising pharmaceutical hubs present a considerable opportunity for the expansion of the pharmaceutical container business.

Introduction:

A pharmaceutical product's packaging is an essential component. Dispensing, dosage, and usage of pharmaceutical medication sometimes require packaging. Regulations also apply to the distribution of instructions for use and cautionary labels. A pharmaceutical product can be packaged in various distinct ways, which are categorized as main, secondary, and tertiary. The substance that encases the pharmaceutical product is known as primary medication packaging, while secondary and tertiary packaging offers extra exterior security. Protecting items from the adverse impacts of the environment is one of packaging's most crucial roles. It is important to safeguard medications against air, moisture, and light exposure since many formulations become unstable when exposed to these elements. Throughout the projected period, the market is anticipated to expand significantly. The development of environmentally friendly and sustainable packaging solutions, a surge in product innovation, and merger and acquisition to meet growing demand are all factors that have contributed to the expansion. Additionally, the use of serialized tracking and tracing systems for pharmaceuticals, the emergence of the generic medicine market, the expansion of the drug delivery industry, an increase in R&D, and the usage of cutting-edge packaging all contribute to the market's expansion.

Drivers:

• Growing demand for healthcare worldwide will fuel market growth: The COVID-19 pandemic, the aging population, and the ongoing incidence of chronic illnesses including diabetes, hypertension, and kidney ailments have all contributed to the pharmaceutical industry's significant rise over the past few years. The need for pharmaceutical containers to package and transport medical items including pharmaceuticals, vaccines, and healthcare supplies is significantly increasing as the demand for medications throughout the world rises.
• Rise in telemedicine to boost growth: The market for pharmaceutical containers has also benefited greatly from the expansion of telemedicine services over the past several years. To guarantee ease and security, there has been an increased emphasis on patient-centered packaging which is creating demand for pharmaceutical containers.
• Increased generic drug adoption in developing nations will support market expansion: The growing use of generic medications in underdeveloped nations will increase demand for pharmaceutical containers due to their low cost. A generic medicine is a prescription medication that shares the same active components, dosage, intended purpose, adverse effects, and mode of administration as the brand-name medication. Since packaging is required to store and safeguard medications during storage and transportation, it plays a significant role in the production of generic medications. The increasing demand for generic medications will hence increase product utilization.
• Growing trend towards sustainable packaging is fueling expansion: The healthcare industry's growing awareness of eco-friendly and recyclable packaging options has also fueled the market. Manufacturers are concentrating on reducing their carbon footprint by streamlining the distribution and transportation systems.
• Rules framed by regulatory authorities also boost market expansion: To guarantee the integrity, effectiveness, and safety of medicines and medical equipment, regulatory agencies create strict rules and quality standards. Pharmaceutical containers can be used to meet these standards, which also offer efficient packaging options thus, creating the market demand.

Products offered by key companies:

• Corning Valor Glass Vials, West Pharmaceutical Services, Inc.: Glass and polymer vials are available from West to satisfy a variety of client demands, from small-scale development and clinical trials to scale-up and commercialization. Vials are manufactured of incredibly durable glass, which displays homogeneous surface chemistry to prevent delamination and is extremely robust against shattering.
• Serum Vial Bottle 60 ml, Amcor: Serum vial container is offered by Amcor. It is made up of HDPE and is completely recyclable. These containers are designed to meet all industry as well as regulatory requirements.

The prominent growth in the bottles sector under the End-User segment

The bottles segment captured the major market share and is likely to dominate over the forecast period. Pharmaceutical items including pills, capsules, and tablets must be stored in bottles. They offer a layer of defense that keeps medicines away from elements like moisture, light, and contamination that might harm their quality and potency. They are regarded as excellent dispensers that can assist people in dispensing the precise amount of medication prescribed by healthcare professionals. Additionally, bottles are designed with clear labelling and easy-to-open lids to accommodate elderly and disabled individuals. The pharmaceutical business is continually looking for alternatives like these that offer packaging solutions to increase accessibility and safety for this expanding audience as the average worldwide age rises. Bottled pharmaceutical containers are particularly simple to construct, store, and transport, which is important in the healthcare industry. Because of their flexibility, safety, and long-term familiarity with customers, bottled containers are expected to dominate the pharmaceutical container industry as the need for drugs throughout the world rises.

The North American region is expected to hold a significant share of the pharmaceutical container market:

North America held the major market share and is anticipated to grow at a healthy CAGR over the projection period. The main element fueling market expansion in the region is the existence of several pharmaceutical producers in the U.S. The industry has grown substantially as a consequence of technological developments, production methods, inventions, and corporate integration. The regional pharmaceutical container market is being driven by expansion in the pharmaceutical sector in North America and the existence of several packaging firms. Additionally, the growing geriatric population in the area has increased demand for a variety of treatments and therapies, favourably impacting the regional pharmaceutical container industry during the past two years.

Key developments:

• Amcor, a pioneer in responsible packaging solutions development and production, recently announced that it has signed a contract to buy Shanghai-based MDK in January 2023. Amcor's existing robust healthcare platform in the Asia-Pacific region will be strengthened by the inclusion of MDK as it maintains its concentration on higher growth priority categories.
• Gerresheimer AG and Stevanato Group announced a partnership in September 2022 to create a cutting-edge Ready-to-use Vial Platform for the Pharmaceutical Industry. Customers are expected to benefit from increased efficiency, higher quality standards, quicker time to market, lower total cost of ownership (TCO), and reduced supply chain risk thanks to this partnership.

SEGMENTS:

BY PRODUCT TYPE

• Bottles
• Dispensing
• Jars
• Others

BY MATERIAL TYPE

• Plastic
• PE
• LDPE
• HDPE
• Others

BY END-USER

• Hospital
• Pharmaceutical
• Clinics
• Others

BY GEOGRAPHY

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others