Global Pharmaceutical Contract Packaging Market Insights Forecasts to 2030

• The Global Pharmaceutical Contract Packaging Market Size was valued at USD 31.2 Billion in 2021.
• The Market is Growing at a CAGR of 7.9% from 2021 to 2030.
• The Worldwide Pharmaceutical Contract Packaging Market is expected to reach USD 49.8 Billion by 2030.
• Asia Pacific is expected to Grow the fastest during the forecast period.

The Global Pharmaceutical Contract Packaging Market is expected to reach USD 49.8 Billion by 2030, at a CAGR of 7.9% during the forecast period 2021 to 2030.

Pharmaceutical contract packaging market is the process of outsourcing secondary tasks like packaging as well as labelling of third parties. A contract pharmaceutical packager provides various types of services, equipment, installations from design of drug packaging to drug testing. Secondary packaging businesses opted by pharmaceutical companies as they are comparatively more profitable, flexible, and allow them to be stable with changing environment. Not only this but also a competent packager offers certain benefits to the market players such as client preferences and brand recognition.

Impact of COVID 19 on Global Pharmaceutical Contract Packaging Market

The COVID 19 outbreak has created uncertainty on the global pharmaceutical contract packaging market. With the onset of pandemic, the market players have used all their resources to manufacture products and investment huge sum of money to do research and development in order to develop innovative drugs for COVID 19. Pharmaceutical contract packaging companies have advanced facilities which provide immense benefits to the companies. Thus, these companies aims to have flexible capacity to support the increasing demand for contract packaging.

Key Driving Factors

Increasing demand for specialty packaging to propel the market growth

Pharmaceutical packaging of medicines play a pivotal role because the product needs to be harmless for the patients who are using it. The need of specialty of packaging has propelled the contract manufacturing industry which is growing like anything. In fact, major pharmaceutical companies are subcontracting the packaging of end products to those brands which are involved  in packaging of medicines. Apart from this, the increasing number of elderly people, strict rules on packaging by concerned agencies and rising interest among people for advanced packaging are driving the growth of the pharmaceutical contract packaging market.

Growth in the pharmaceutical sector to drive the market

The rise in the growth of pharmaceutical sector is upsurging the demand for pharmaceutical packaging market. In fact, there is a rise in the need for the drug delivery devices as well as blister packaging which is augmenting the growth of the pharmaceutical packaging market. Newly set up over the counter market is also fuelling the market growth. In addition, the rising requirement for advanced healthcare facilities will boost the market growth.

Key Market Challenges

Counterfeit pharmaceutical medicines comprises of generic components which might be contaminated. Thus, the increasing number of counterfeit pharmaceuticals is anticipated to restrain the expansion of the market.

Market Segmentation

Product Insights

Primary packaging segment holds the largest market share over the forecast period

On the basis of product, the global pharmaceutical contract packaging market is segmented into primary, secondary, and tertiary. Among these, the primary packaging segment is dominating the market with the largest market share over the forecast period. This kind of packaging is expected to rule the market over the upcoming years due to the cumulative outsourcing of primary packaging activities owing to the deficiency of in house capacities and competencies.

Material Insights

Glass segment is dominating the market with the largest market share over the forecast period

Based on the material, the global pharmaceutical contract packaging market is segmented into paper & paperboard, plastics & polymers, aluminium foil, glass, and others. Among these, the glass segment is dominating the market with the largest market share over the forecast period due to companies who are incapable of managing glass wraping abilities. Apart from this, the low priced service provided by the Development and Manufacturing Organizations (CDMOs) and Contract Packaging Organizations (CPOs) for glass wrapping of pharmaceutical products are expected to boost the segmental growth.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

North America is dominating the market with the largest market share over the forecast period due to the huge growth witnessed by the market vendors over the assessment period. Apart from this, the mounting value of the US exports, increasing number of elderly people and increasing healthcare expenditure are some of the other factors which are propelling the regional growth of the global pharmaceutical contract packaging market over the forecast period.

Asia Pacific, on the other hand is anticipated to witness the fastest market growth owing to the strong presence of large number of contract packaging companies. They are involved in expansion of their facilities to cope up with the increasing demand of pharmaceutical companies. Moreover, the increasing outsourcing of pharmaceutical manufacturing to developing countries is also boosting the regional market growth.

Recent Market Developments

• In January 2021, Novartis has invested in drug delivery company named Credence MedSystems to make advancement of the development of the drug delivery system.

• In September 2020, Legacy Pharmaceutical Packaging has made expansion of its services  for the over the counter medications.

List of Key Companies

• Aaron Thomas Company Inc.
• AmeriPac Inc.
• Assemblies Unlimited Inc.
• Co-Pak Packaging
• Assured Edge Solutions
• Deufol
• DHL
• Hollingsworth
• Green Packaging Asia
• Jones Packaging
• Kelly Products Inc.
• Sharp Packaging
• Sonic Packaging Industries
• Stamar Packaging
• Sterling Contract Packaging Inc.
• Silgan Holdings Inc.
• Wepackit Inc

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Pharmaceutical Contract Packaging Market based on the below-mentioned segments:

Pharmaceutical Contract Packaging Market, Product Analysis

• Primary
• Secondary
• Tertiary

Pharmaceutical Contract Packaging Market, Material Analysis

• Paper & paperboard
• Plastics & polymers
• Aluminium foil
• Glass
• Others

Pharmaceutical Contract Packaging Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa