PHARMACEUTICAL PACKAGING MARKET ANALYSIS

Pharmaceutical Packaging MarketSize and Trends

Global pharmaceutical packaging market is expected to reach US$ 349.58 Bn by 2031, from US$ 145.29 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 11.6% during the forecast period (2024-2031).

Market Trends:

Sustainability and eco-friendly packaging: The pharmaceutical packaging industry is increasingly focusing on sustainability and eco-friendly packaging in response to growing environmental concerns worldwide. With health care waste and plastic pollution emerging as major problems, pharmaceutical companies are under pressure to reduce the environmental impact of their packaging solutions. Many countries have introduced regulations mandating the use of sustainable materials for drug packaging. These stringent norms are prompting brands to evaluate greener alternatives and optimize packaging designs for improved recyclability and reuse.

Sustainable packaging starts with minimizing the usage of materials during production. drug makers are developing innovative package formats using less plastic through light-weighting, concentrated doses and optimized canister sizes. These are also leveraging recyclable materials like recycled Polyethylene terephthalate, bio-plastics and aluminium to manufacture primary packages. For instance, in 2021, according to a survey by the European Medicines Agency, over 20% of medicine packages launched in 2021 contained post-consumer recycled plastic. Switching to renewable/recycled resins and fibres can help drug brands lower carbon footprint and gain a marketing advantage.

Move towards personalized and specialized packaging: This market is witnessing significant growth due to the rising trend of personalized and specialized packaging. Pharmaceutical companies are offering customized packaging solutions that are tailored to specific medical conditions and needs of the patient. This has become possible due to advancements in digital printing and flexible packaging technologies. Customized pharmaceutical packages can offer easier dosing and consumption for patients. For example, pre-filled syringes or auto-injectors packaged in user-friendly formats are helping patients with limited mobility or those requiring emergency medication. Such specialized designs minimize human errors and improve treatment outcomes.