Global Pharmaceutical Contract Packaging Market

Pharmaceutical Contract Packaging Market Size, Share, Growth Analysis, By Type (Primary Packaging, Bottles, Vials, Ampoules), By Material(Plastics & Polymers, Paper & Paperboard, Glass, Aluminium Foil), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35H2279 | Region: Global | Published Date: October, 2024
Pages: 208 | Tables: 70 | Figures: 67

Pharmaceutical Contract Packaging Market Dynamics

Drivers

Increased Outsourcing by Way of Pharmaceutical Companies

  • The driver of the pharmaceutical contract packaging market is the growing trend of outsourcing among pharmaceutical agencies. Faced with complicated packaging needs, stringent regulatory necessities, and the demand for price performance, many pharmaceutical producers are opting to outsource packaging to specialized corporations. This permits pharmaceutical businesses to awareness on center sports together with drug discovery and advertising even as leveraging the knowledge of agreement packaging organizations that may provide revolutionary and compliant solutions.

Rising Demand for Biologics and Specialty Drugs

  • The increasing occurrence of continual sicknesses and the growth in biologics and specialty tablets have appreciably boosted the demand for pharmaceutical contract packaging. These tablets often require the specialized packaging solutions, such as temperature-controlled packaging to keep product balance and make certain affected person safety. Contract packaging companies offer advanced technology and knowledge to fulfill those requirements, making them integral to pharmaceutical organizations trying to meet market demand.

Restraints

Strict Legal Standards

  • While regulatory compliance is important in the pharmaceutical contract packaging industry, navigating the ever-changing regulatory environment can be very restrictive for the market. Different countries have different packaging guidelines about, including packaging guidelines, labeling, indestructible seals, durability warranties and specifications. The high cost of complying with these standards, coupled with the risk of non-compliance resulting in recalls or lawsuits, can deter small- and medium-sized contract packaging companies that may not have the resources to comply in the development of these requirements.

Disruption of Supply Chains

  • The global supply chain has faced many disruptions in recent years due to events such as the COVID-19 pandemic, geopolitical tensions and raw material shortages. These challenges have affected pharmaceutical contracting packaging materials market adverse effects, especially glass, plastics and coatings on material availability. Delays in key components can lead to production stoppages, increased costs, and ultimately slow deliveries to lost customers. This limitation makes it difficult for the contract packaging company to maintain consistency in service delivery.
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FAQs

Global Pharmaceutical Contract Packaging Market size was valued at USD 128.80 Billion in 2022 and is poised to grow from USD 141.55 Billion in 2023 to USD 301.23 Billion by 2031, growing at a CAGR of 9.9% in the forecast period (2024-2031).

The pharmaceutical contract packaging market is highly competitive, with a mix of global players, regional companies and specialty packaging companies offering innovative pharmaceutical packaging solutions. The competition is primarily for pharmaceutical packaging more complex products, stringent regulatory requirements and increased demand for biochemicals and specialty chemicals. Key players in this market are focusing on expanding their product portfolio on a constant basis, investing in advanced packaging technologies and forming partnerships to maintain their competitiveness. 'Sonoco Products Company (United States)', 'Stevanato Group S.p.A. (Italy)', 'Nipro Corporation (Japan)', 'Comar, LLC (United States)', 'SGD Pharma (France)', 'Aptargroup, Inc. (United States)', 'RPC Group Plc (United Kingdom)', 'Drug Plastics & Glass Co., Inc. (United States)', 'Capsugel (United States)', 'TricorBraun Holdings, Inc. (United States)', 'Bilcare Limited (India)', 'Tekni-Plex, Inc. (United States)'

The driver of the pharmaceutical contract packaging market is the growing trend of outsourcing among pharmaceutical agencies. Faced with complicated packaging needs, stringent regulatory necessities, and the demand for price performance, many pharmaceutical producers are opting to outsource packaging to specialized corporations. This permits pharmaceutical businesses to awareness on center sports together with drug discovery and advertising even as leveraging the knowledge of agreement packaging organizations that may provide revolutionary and compliant solutions.

Adopting Sustainable Packaging Solutions: Sustainability has become a priority in the pharmaceutical contract packaging market as companies face increasing pressure to reduce their environmental footprint. Packaging that does not yield environmental issues, such as reducing biodegradable plastics, recyclable materials and bulky packaging, are gaining momentum. Packaging contract companies invest in the research and development to develop packaging products that not only meet regulatory standards but also meet environmental goals. This trend is expected to continue as governments and consumers push for more sustainable solutions.

North America holds a dominant position in the pharmaceutical contract packaging market for several reasons. The region is home to many of the world’s leading pharmaceutical companies, with extensive packaging outsourcing focused on new products and drug development, and stringent regulatory guidelines by the FDA and other agencies. Additionally, stringent regulatory guidelines by organizations such as the FDA drive demand for high-quality, compliant packaging solutions, further supporting the market. Biologics and the growing demand for specialty chemicals in the region will also create opportunities for contract packaging companies that can meet these demanding packaging needs.

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Global Pharmaceutical Contract Packaging Market

Report ID: SQMIG35H2279

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