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Pharmaceutical Contract Packaging Market to Reach US$12 Billion by 2033, Driven by Innovations in Drug Packaging | Future Market Insights, Inc.

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Future Market Insights

26 Oct, 2023, 10:55 GMT

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The global pharmaceutical contract packaging market is expected to witness robust growth in the coming years, driven by the rising prevalence of chronic diseases, increasing demand for personalized medicine, and growing outsourcing of pharmaceutical manufacturing.

Pharmaceutical Contract Packaging Market Report: Segmentation by Packaging, Containers, and Closures, Growth Opportunities, and Revenue Forecast, 2023-2033 

NEWARK, Del., Oct. 26, 2023 /PRNewswire/ -- By the end of the year 2022, the net worth of the pharmaceutical contract packaging market was reported to have reached US$ 5.6 billion. As per our market analysis, the worldwide demand for pharmaceutical contract packaging could expand at an average of 7.5% from 2023 to 2033. By 2033, the adoption of pharmaceutical contract packaging is projected to be worth around US$ 11.9 billion, growing from US$ 6.1 billion in 2023.

Get the Sample PDF Summary to obtain an overview of the Comprehensive Research Report. The sample is available here!

Implementing advanced manufacturing techniques and technological advancements drive pharmaceutical contract packaging market growth. Investment in Research and Development activities to enhance the quality of their services and meet consumer demands could boost the packaging services for the pharmaceutical industry.

The market is anticipated to be driven by more strict quality standards and outsourcing trends in pharmaceutical packaging to contract packagers in emerging nations. 

Key Takeaways from the Pharmaceutical Contract Packaging Market Study Report

  • The United States is the leading market globally for adopting pharmaceutical contract packaging solutions and could advance at 4.8% CAGR through 2033.
  • With several market players providing for the outsourcing of pharmaceutical contract packaging, Germany is predicted to witness a 5% CAGR through 20233.
  • The adoption of pharmaceutical contract packaging is also growing remarkably in the United Kingdom and is anticipated to experience a 6.4% CAGR from 2023 to 2033.
  • In Asia, China, with a huge manufacturing base for pharmaceutical products currently leads the region in pharmaceutical packaging and could grow at 8.7% CAGR through 2033.
  • India is another promising market for innovations in pharmaceutical contract packaging that could exhibit a lucrative 9.1% progress rate from 2023 to 2033.
  • In all, plastic and glass materials are anticipated to have almost 83.9% of the total market share in 2023.

Competitive Landscape for Market Players

The global market for pharmaceutical contract packaging services is highly fragmented and competitive due to several global and local operators. Moreover, the growing lucrativeness in this market has encouraged the entry of contract packaging layers from the FMCG and electronics industries.

"Due to their affordable service offerings, new market players are witnessing a promising growth trend over the backs of small businesses. However, the biggest challenges small pharmaceutical businesses face are a lack of internal packaging skills, knowledge, and resources," says Ismail Sutaria (Lead Consultant, Packaging and Materials).

Recent Developments by the Market Players

By purchasing LSNE in December 2021, PCI Pharma Services took a big step toward expanding its services as a global CDMO. The company is also improving its product portfolio by leveraging its expertise in specialty manufacturing, clinical trial supply, and vaccine packaging.

Tjoapack Company purchased shares of Pharma Packaging Solutions, which is an outsourcing division of Carton Service Incorporate, in November 2021. The PPS purchase by Tjoapack will probably open up many new possibilities for developing its packaging and delivery network services.

To assist life science companies in maximizing their clinical research, launch scheduling, production, and marketing efforts, Experic and EVERSANA formed a partnership in December 2020. The Experic CMO is also a drug supply service provider, while the EVERSANA is the forerunner of future-oriented paid enterprises in life science disciplines.

Pharmaceutical Contract Packaging Market: Country-wise Insights

Countries

CAGR (2023 to 2033)

Pharma Contract Packaging Market in the United States

4.8 %

Germany Pharma Contract Packaging Market

5 %

United Kingdom Pharma Contract packaging Market

6.4 %

India Pharmaceutical Contract Packaging Market

9.1 %

Chinese Pharmaceutical Contract Packaging Market

8.7 %

Purchase the Pharmaceutical Contract Packaging Market Report Today and Gain Detail Countrywise Insights!

About the Packaging at Future Market Insights

The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.

About the Author:

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power. 

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics. 

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association. 

Explore FMI's Extensive Coverage in Packaging Domain:

  • The anti-counterfeit pharmaceutical packaging market is estimated to be valued at US$108.1 billion in 2023. It is expected to reach US$246.6 billion by 2033, growing at a CAGR of 8.6%.
  • The global pharmaceutical vials market is projected to be valued at US$12,137.2 million in 2023 and is expected to reach a valuation of US$24,099.7 million by 2033. The demand for pharmaceutical vials is estimated to grow steadily at a 7.10% CAGR, with key producers emerging in the United Kingdom, the USA, China, and India.
  • The temperature and freshness sensors market is projected to be worth US$8,783.1 million in 2023. It is expected to exceed US$12,389.4 million by 2033, demonstrating a CAGR of 3.5% during the forecast period.
  • The paper cup industry in Japan is poised for significant growth in the years leading up to 2033, with the adoption of paper cups expected to exhibit a CAGR of 6.7% until 2033.
  • Sales of metal food cans in Europe are estimated to be valued at US$7,932.2 million in 2023 and are projected to reach US$13,152.1 million by 2033. Sales are expected to increase at a CAGR of 5.2% during the forecast period.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.

Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact Us

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

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