Hyderabad, Telangana -- (SBWIRE) -- 02/21/2023 -- Pharmaceutical Contract Packaging Market

Pharmaceutical packaging refers to the packages and packing techniques used for pharmaceutical formulations (or medication packaging). It includes all stages of the process, from drug production to final consumption via multiple distribution routes. The specific legislation governing pharmaceutical packaging may differ depending on the country of origin or location. Control of potential packaging component migration into the drug, control of drug degradation by oxygen, moisture, heat, etc., control of microbial contamination, sterility, assurance of patient safety, assurance of the efficacy of the drug through the intended shelf life, uniformity of the drug across different production lots, thorough documentation of all materials and processes, and so on are all possible. Packaging is occasionally required for pharmaceutical medication dispensing, dosing, and use.

Regulations also govern how user instructions and warning labels are distributed. A medicinal product's packaging is critical. Pharmaceutical packaging is typically envisioned in terms of the distribution system segment encountered as well as the functionality required by the intended user of the package. There are numerous packing criteria to consider. Bulk pharmaceuticals can be delivered to customers in other countries, to a contract packager for unit pack assembly, to another pharmaceutical company for further processing, and so on. Intermediate bulk containers, bulk boxes, corrugated boxes with liners, fibre drums (with plastic liners), and bulk boxes are examples of bulk shipping containers. Smaller bulk shipments to pharmacies, especially compounding pharmacies, are possible.

Market Growth and Future Apprehension:

According to the research report published by USD Analytics, the global "Pharmaceutical Contract Packaging Market" will expand at a high CAGR 7.43% during 2023 to 2030.

Market Drivers:

Pharmaceutical packaging is an important aspect because the product must be safe for the patient. The demand for packaging expertise has given rise to a new industry, contract manufacturing, which is now gaining traction. Major pharmaceutical companies are now subcontracting the task of end-product packaging to companies that are experienced and dedicated to handling medicine packaging. Increased elderly populations, stringent packaging regulations imposed by governing bodies, and rising public interest in modernized packaging are some of the factors that will drive the global pharmaceutical contract packaging market.

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Market Challenges:

One of the major challenges facing the pharmaceutical contract packaging market is the complex regulatory environment. The pharmaceutical industry is heavily regulated, and contract packaging companies must comply with a range of regulations and guidelines to ensure that products are safe and effective. This can be a significant challenge for smaller companies that lack the resources and expertise to navigate the complex
regulatory landscape.

Market Opportunities:

Despite these challenges, the pharmaceutical contract packaging market presents significant opportunities for industry players. One of the key opportunities is the growing demand for pharmaceutical products in emerging markets. As the global population continues to grow and age, there is increasing demand for pharmaceutical products in emerging markets, particularly in Asia and Latin America. Contract packaging companies that are able to establish a presence in these markets can benefit from this growing demand.

Product Insights:

Among the various types of packaging, the primary packaging segment reported a revenue share of more than 40% in 2019 and is expected to grow significantly in the coming years. Vials, bottles, blister packs, ampoules, and other types of primary packaging are available. This type of packaging is expected to dominate the global pharmaceutical contract packaging market in the coming years as a result of the cumulative outsourcing of primary packaging activities due to a lack of in-house competencies and capacities.

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Material Insights:

Pharmaceutical contract packaging uses a variety of packaging materials, including paper and paperboard, plastics and polymers, aluminium foil, and others. In 2019, the glass segment had a significant revenue share of more than 35% of these segments. This expansion is attributed to mid-sized and small pharmaceutical companies that lack glass wrapping capabilities. Furthermore, low-cost pharmaceutical glass wrapping services provided by Development and Manufacturing Organizations (CDMOs) and Contract Packaging Organizations (CPOs) are expected to drive the market. The plastics and polymers segment is expected to grow at a rapid pace during the forecast period due to rising demand for plastic packaging in pharmaceuticals for drug delivery and storage.

Segmentation Analysis:

The global Pharmaceutical Contract Packaging Market segmented based on it's Product, Material, End-User Industry, Region

By Product:
- Primary Packaging
- Secondary Packaging
- Tertiary Packaging

By Material:
- Paper & Paperboard
- Plastics & Polymers
- Aluminum Foil
- Glass
- Others

By End-User Industry:
- Food and Beverage
- Pharmaceutical
- Electronics
- Personal Care
- Others

By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa

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Competitive Landscape:

The prominent companies in Pharmaceutical Contract Packaging Market include
- AmerisourceBergen Corp.
- SCHOTT AG
- WestRock Co.
- Becton, Dickinson and Co.
- Constantia Flexibles Group GmbH
- Bilcare Ltd.
- CCL Industries Inc.
- Berlin Packaging
- Others

Geographical Analysis:

North America accounted for the largest revenue share of the global pharmaceutical contract packaging market and provides market vendors with numerous growth opportunities throughout the assessment period. The rising value of US pharmaceutical exports, rising healthcare expenditures, and an ageing population are just a few of the factors that will drive the pharmaceutical contract packaging market in this region in the coming years.

Recent Developments:

- January 2022 - Sharp, a global leader in contract packaging and clinical supply services, completed the construction of new purpose-built production suites at its Heerenveen facility in January 2022 to facilitate the packaging, storage, and distribution of gene therapies(the Netherlands).
- September 2022 - Ropack announced immediate commercial-scale blister packaging services capacity for Q4 in September 2022.