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 News

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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

$5,300
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