Pharmaceutical Packaging Industry Data Book Covers Plastic Pharmaceutical Packaging, Parenteral Containers, Primary Pharmaceutical Packaging and Pharmaceutical Contract Packaging Markets.
The economic value generated by the pharmaceutical packaging industry was estimated at approximately USD 117,007.3 million in 2021.
Pharmaceutical Contract Packaging Market Growth & Trends
The global pharmaceutical contract packaging market size is expected to reach USD 47.7 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.1%, from 2023 to 2030. Access to advanced technologies, cost-saving, and focus on core competencies are anticipated to propel market growth.
The growing pharmaceutical industry with high competition within the market is the major factor driving the market. Pharmaceutical companies are outsourcing packaging activities to third parties, mainly in emerging nations such as China, India, and Brazil. Further, rising pricing pressure on pharmaceutical companies is boosting the demand for contract packaging services in the industry. The stringent regulatory scenario in developed countries and changing regulations in emerging countries are driving the market.
Moreover, large Contract Packaging Organizations (CPOs) and Contract Development and Manufacturing Organizations (CDMOs) are continually acquiring small contract service providers to fill any gaps in the value chain or expand their existing portfolios. As smaller service providers have customer bases that comprise small and mid-sized pharmaceutical companies, it allows larger CPOs and CDMOs to better compete with small service providers. Thus, maintaining the threat of new entrants at a moderate level for larger CPOs and CDMOs.
In addition, lack of in-house wrapping capabilities, expertise, and budget constraints are the major issues faced by small pharmaceutical companies in the industry. Contract packaging service providers are recognized as a practical approach to curbing such problems of small companies owing to the low-cost service offering. The lack of resources and budgets has prompted many small pharmaceutical companies to establish mutually beneficial relationships with CPOs and CDMOs. Contract service providers are making significant attempts to meet their client’s expectations and provide highly sophisticated wrapping facilities.
The stringent regulations in developed regions such as North America and Europe are expected to drive the market over the forecast period. For instance, compulsory barcodes system for pharmaceutical wrapping and the transfer of large volumes of data related to the supply of medicines under serialization legislation.
Access the Global Pharmaceutical Packaging Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Key players operating in the pharmaceutical packaging industry are –
- Amcor plc
- Dickinson and Company
- AptarGroup, Inc.
- Drug Plastics Group
- Gerresheimer AG
- Schott AG
- Owens Illinois Inc.
- SGD Pharma
- West Pharmaceutical Services, Inc.
- Berry Global Inc.
- WestRock Company
- Vetter Pharma International.
Order your copy of the Free Sample of “Pharmaceutical Packaging Industry Data Book – Plastic Pharmaceutical Packaging, Parenteral Containers, Primary Pharmaceutical Packaging and Pharmaceutical Contract Packaging Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research
Grand View Research’s pharmaceutical packaging industry databook is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
Go through the table of content of Pharmaceutical Packaging Industry Data Book to get a better understanding of the Coverage & Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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