Market Challenges And Opportunities

Global Biodegradable Pharmaceutical Packaging Market: Drivers

Packaging plays an important role in the pharmaceutical industry as it protects the products from chemical, biological and physical deterioration. Consumption of medicines is increasing owing to rising incidence of chronic diseases, which leads to accumulation of non-biodegradable packaging waste. In order to reduce such waste, it is essential to use biodegradable packaging materials which do not causes harm to the nature. Thus, increasing demand of biodegradable packaging material for reducing waste is expected to drive the global biodegradable pharmaceutical packaging market growth.Key players are focused on technological advancements and development of innovative biodegradable packaging materials, which is expected to boost the global biodegradable pharmaceutical packaging market. For instance, in February 2016, Gerresheimer AG showcased their ecofriendly packaging products, which include containers with green packaging (plastic container made of sugarcane), Duma Combi (tablet packaging container with a separate compartment for the patient information leaflet), and others at Pharmapack 2016 in Paris, France. Moreover, in September 2019, DS Smith PLC received an award for the best ‘Pharmaceutical Packaging Solutions’, by Global Health and Pharma Magazine. DS Smith PLC, offers recyclable plastic and paper pharmaceutical packaging solutions.Stringent regulatory rules and standards have led to the adoption of biodegradable and ecofriendly packaging materials in the pharmaceuticals industry, which is expected to propel the global biodegradable pharmaceutical packaging market growth. For instance, regulatory authorities such as the Food and Drug Administration (FDA), European Medicines Agency (EMA), and Medicines and Healthcare Products Regulatory Authority (MRHA) ensure that the quality of pharmaceutical packaging materials comply with regulatory standards.Advancements in technologies such as 3D printing is expected to drive demand for biodegradable packaging materials from the industrial sector. 3D printing technology is used for manufacturing packaging materials, which can be easily recycled and reused, such as metals, plastic materials, and rubber. For instance, ‘MultiJet 3D Printer’ is used to make various packaging containers and materials, which are used in pharmaceutical and cosmetology packaging.

Global Biodegradable Pharmaceutical Packaging Market: Restraints

Major factors restraining the global biodegradable pharmaceutical packaging market growth are high cost of biodegradable packaging material. These materials are made up of organic raw materials which require certain processing to form into a finished packaging material. Also these products are heavy in weight than non-biodegradable material because of more density. So the cost of processing (conversion of raw material into finished packaging material) and cost on the weight basis makes these products more expensive than compared to non-biodegradable materials.