Key findings:
- From 2019 to 2023, the pharmaceutical packaging market was valued at a CAGR of 6.9%
- Based on product type, the bottle segment is expected to account for a share of 33.4% in 2024.
- Global pharmaceutical packaging demand in China is projected to grow at a CAGR of 7.5% by 2024.
- In the United States, the pharmaceutical packaging industry is expected to account for a CAGR of 5.6% by 2024.
- Germany is projected to expand at a compound annual growth rate (CAGR) of 5.8% between 2024 and 2034.
- The pharmaceutical packaging market in India is projected to register a CAGR of 7.9% by 2024.
- The adoption of advanced packaging technologies, such as smart packaging, track and trace systems and anti-counterfeiting measures, is on the rise in Japan.
He pharmaceutical packaging market Its value is estimated at $108.9 billion in 2024 and is projected to reach a value of $216.2 billion in 2034, according to Future market outlookBetween 2024 and 2034, the industry is expected to expand at a CAGR of 7.10%.
The continued rise in global healthcare spending, coupled with increasing demand for pharmaceutical products driven by an ageing population and the prevalence of chronic diseases, is a driving factor. As healthcare needs increase, pharmaceutical production increases, making advanced packaging solutions necessary.
Stringent regulatory requirements imposed by health authorities across the globe play a pivotal role in the pharmaceutical packaging market. Regulations ensure product safety, traceability, and compliance with quality standards, forcing pharmaceutical companies to invest in compliant packaging solutions. Continuous advancements in packaging technologies contribute to the growth of the market. Innovations such as smart packagingTrack and trace systems and tamper-evident features enhance product security, improve patient safety and address counterfeiting issues.
“Rapid growth in the pharmaceutical industry and increasing focus on ensuring protection of drugs from spoilage, breakage and leakage is anticipated to drive market growth over the forecast period,” says Ismail Sutaria, Principal Consultant, Future Market Insights (FMI).
The growing production of generic drugs, driven by the expiration of patents on brand-name drugs, fuels the demand for pharmaceutical packagingThe anticipated rise in global pharmaceutical production and consumption is anticipated to drive significant growth in pharmaceutical packaging sales over the forecast period. The growing emphasis on protecting drugs from spoilage, breakage and leakage is expected to contribute to the rapid expansion of the pharmaceutical packaging market.
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