The global pharmaceutical packaging market size is projected to reach USD 229.9 billion by 2027 from USD 99.9 billion in 2021, at a CAGR of 14.9% during the forecast period. The major factors driving the pharmaceutical packaging in emerging markets are such as. rise in consumer awareness in healthcare, rise in healthcare expenses, advance drug delivery and improved access to healthcare. Also, innovative packaging solution with higher patient comfort and compliance is driving the market.
Pharmaceutical packaging is used for different drug delivery modes such as oral drugs, pulmonary, transdermal, injectables, topical, nasal, ocular/ophthalmic, and IV drugs. The key players in the pharmaceutical packaging market include Schott AG (Germany), Amcor PLC (Switzerland), AptarGroup, Inc (US), West Pharmaceutical Services, Inc. (US), Berry Global (US), Gerresheimer AG (Germany), Catalent,Inc(US), and WestRock (US). The pharmaceutical packaging market report analyzes the key growth strategies, such as new product launches, investments & expansions, joint ventures, agreements, partnerships, and mergers & acquisitions adopted by the leading market players between 2019 and 2022.
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Berry Global (US) is one of the major players in pharmaceutical packaging. The company provide the wide range product portfolio of medical & pharmaceutical application. The company serve various end use industries such as food, healthcare, shipping & transportation, building & construction, and personal care. The company has adopted many new strategies with an aim to expand the company’s pharmaceutical packaging, globally. Main strategies adopted are new product launch and merger & acquisition to increase their reach in Europe and Asia In 2022, Berry Global, and Pylote announce partnership for new ophthalmic dropper, offering a unique multidose ophthalmic dropper combining high barrier with unique antimicrobial protection properties. This partnership will help Berry Global to launch new product and strengthen their product portfolio in pharmaceutical packaging.
Amcor PLC (Switzerland) is another major player operating in the market. The company has a strong global presence and offers a wide range of innovative pharmaceutical packaging products such as oral, dermal, medical devices, hospital packaging, ophthalmic & vision care, pulmonary, intravenous fluid, and injectables. The company focuses on organic growth strategies for strengthening its market position. Investment & expansion and product launch is the key strategy adopted by the company to sustain in highly growing pharmaceutical packaging market. And hence, widening its presence in various regions such as North America and Western Europe and increasing its revenue. In August 2022, Amcor PLC buys world-class flexible packaging plant in Central Europe. The company has announced that it has invested to buy a world-class flexible packaging plant located in the Czech Republic. This investment is expected to strengthen the company’s geographical presence in Europe pharmaceutical packaging market.
Pharmaceutical Packaging Market by Raw Material (Plastics, Paper & paperboard, Glass, Metal), Type (Plastic Bottles, Blisters, Caps & Closures, Labels & Accessories, Pre-filled syringes), Drug Delivery, and Region - Global Forecast to 2027
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