Sustainable Pharmaceutical Packaging Market

The global Sustainable Pharmaceutical Packaging Market was valued at USD 71.1 Billion in 2022 and is projected to reach a value of USD 190.2 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 15.1% between 2023 and 2030.

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The containers and procedures used in packaging pharmaceutical preparations fall under the category of Sustainable Pharmaceutical Packaging (also known as medication packaging). All operations, from drug production to the final consumer, are included via drug distribution networks. The global Sustainable Pharmaceutical Packaging market is expected to grow rapidly during the forecast period. One of the main drivers of growth for the Sustainable Pharmaceutical Packaging market is the massive growth of the pharmaceutical industry. Scientific and technological breakthroughs have caused the pharmaceutical industry to grow significantly in recent years. This trend will continue over the projection period, particularly in developing countries like China, India, and Brazil. The world's largest market for sustainable pharmaceuticals is in the United States.

The country's extensive healthcare system, high per capita income, and significant investments in drug discovery are a few of the major variables influencing the U.S. market. Also, profitable opportunities for Sustainable Pharmaceutical Packaging are predicted in the upcoming years due to the expanding significance of generic medications and access to superior healthcare services. The 21st Century Cures Act (Cures Act), which aims to hasten the development of medical products, was signed into law in the United States on December 13, 2016. The law is anticipated to spur fresh product advancements in the pharmaceutical sector. This is anticipated in the US to increase demand for environmentally friendly pharmaceutical packaging.

The development of medicine and bioscience drives the sustainable pharmaceutical sector. In addition, the pharmaceutical business contributes significantly to the European economy as one of the continent's most successful high-tech industries. The pharmaceutical sector is undergoing a tremendous transformation, and during the past several years, there has been a marked increase in attention paid to the development of biological medications. Few biotechnology-based medicinal therapies are presented as lyophilized or dry powder dosage forms since they are unstable in liquid form. Lyophilized medications require specific packaging to work at their best, opening up new market potential for packaging producers.

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Economic Insights

When rising inflation rates threw the world economy into disarray, it was recovering from the pandemic shock. According to several studies, the IMF warned in late October that there is a greater than 25% chance of a recession in 2023 and that more than one-third of the world's economies are projected to collapse. After Russia took Crimea from Ukraine in February 2014, the current conflict between Russia and Ukraine erupted. For the first time in eight years, fighting broke out in 2014; it eventually subsided after naval incidents, cyber warfare, and increased political tensions.

Top Market Trends

· Rising Inclination of Prominent Manufacturers Towards Sustainable Pharmaceutical Packaging: The most common drug delivery methods for pharmaceuticals are tablets, capsules, liquids, and powders. They are packaged in various formats, including rigid bottles, standup pouches, flat pouches, sachets, and blister packs. To improve the functionality and safety of their packaging, package businesses are increasingly focused on incorporating dispensing mechanisms, administration aids, sustainable materials, tamper-evident features, and counterfeiting safeguards are employed. To boost packaging sustainability, businesses primarily use post-consumer recycled (PCR) material and develop packaging from biodegradable material.

· Increasing Adoption of Generic Drugs: Due to their low cost, generic pharmaceuticals are used more frequently in poorer nations, increasing the demand for Sustainable Pharmaceutical Packaging. A pharmaceutical drug is considered generic if it contains the same chemical components, dosage, intended use, adverse effects, and route of administration as the brand-name medication. Many businesses are investing in producing generic pharmaceuticals to offer medical treatments at a lesser cost. Generic medications must be packaged and protected throughout storage and transportation. Thus, this packaging is crucial to the production process.

· Development of Novel Packaging Methods: The demand for pharmaceutical packaging has increased due to the introduction of novel drug packaging techniques. The innovative medicine packaging technology packs single-dose vaccine units such as prefilled syringes and inhalers. These items serve as substitutes for standard vials and syringes. The prefilled inhalers and syringes are made to prevent contamination by preventing the packed medications from coming into direct contact with the patient or the environment. Providing a self-administered metered dosage also lowers waste and improves patient compliance. The need for these items is fueled by an aging population on the rise and ailments like diabetes and asthma that are becoming more prevalent, which will help develop novel medication plastics group packaging solutions.

Market Segmentation

The global Sustainable Pharmaceutical Packaging market can be categorized on the following: Material, Packaging Type, Product Type, Process, and Region. Based on Material, the market can be categorized into Plastics, Paper & Paperboard, Glass, Metal, and Other Materials. Furthermore, based on Packaging Type, the market can be further split into Primary Packaging and Secondary Packaging. Moreover, based on Product Type, the market can be fragmented across Plastic Bottles, Blister, Labels & Accessories, Caps & Closures, Pre-Filled Syringes, Vials, Ampoules, Medication Tubes, Cartridges, and Other Products. In addition, based on Process, the market can be further split between Recyclable, Reusable, and Biodegradable. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Material

Plastics to Lead for the Largest Market Share Owing to Availability of a Variety of Options

The plastics segment is expected to dominate the global Sustainable Pharmaceutical Packaging market during the forecast period. Pharmaceutical vials, bottles, closures, syringes, pouches, sachets, cartridges, tubes, and blister packs are frequently made from various plastic resins, including PE, PET, PP, PVC, PS, and bioplastic. Polypropylene (PP), which combines useful qualities including mechanical, physical, electrical, and thermal features, accounted for the greatest revenue share in the plastic and polymers material market. Paper and cardboard are expected to grow with the fastest-growing CAGR during the forecast period. They are cost-effective secondary and tertiary packaging solutions because of their outstanding printability, low cost, widespread availability, and sustainability.

Based on the Packaging Type

Primary Packaging to Dominate the Market owing to the Inclusion of Bottles and Tubes

The primary packaging segment is expected to account for the largest market share during the forecast period in share and revenue. Primary packaging, like bottles, tubes, or blister packs, comes into direct contact with the medication and encloses it to shield it from contamination. Moreover, it frequently handles the dosage and distribution of medication ingredients. To help the senior population with drug dosing, packaging companies are concentrating on easy-to-open closures and the incorporation of dispensing technologies that give the proper dose at the right time. Secondary packaging will grow with the fastest growing CAGR during the forecast period as they are mostly used for logistics, where grouping multiple things provides the convenience of handling, branding & presentation, which is crucial to the marketing plan for the product.

Based on Product Type

Plastic Bottle to Account for Largest Market Share Owing to a Lightweight Nature

The global Sustainable Pharmaceutical Packaging market is expected to be dominated by the segment of plastic bottles during the forecast period. The segment's growth is attributable to this product's lightweight, cheap, and simple-to-mold qualities. Packaging solid and liquid medications such as tablets, capsules, syrups, eye drops, and nose drops are also preferred in plastic bottles. Market expansion is anticipated to be aided by rising pharmaceutical industry demand for plastic bottles. Also, it is predicted that during the forecast period, there will be an increase in the consumption of caps and closures due to the rising demand for bottles, vials, and jars. Pre-filled syringes will grow with the fastest growing CAGR during the forecast period as they are transparent, lightweight, ready-to-fill, break-resistant, and efficiently replace traditional syringes.

Based on Region

North America to Lead Global Sales Owing to the Presence of Numerous Manufacturers

The global Sustainable Pharmaceutical Packaging is expected to be dominated by the region of North America during the forecast period. During the forecast period, numerous producers of pharmaceutical plastic bottles in the nation, including AptarGroup Inc., Gerresheimer AG, Amcor Ltd., and Berry Plastics Group, Inc., is projected to have a beneficial effect on the demand for these bottles. This area's development is attributable to the pharmaceutical industry's explosive growth. The increased need for primary packaging items, rising healthcare spending, and rising disease prevalence drive the market in this area. The main contributors to North America's significant market share include the reshoring of pharmaceutical manufacturing in the country, the growth of production facilities, and partnerships between pharmaceutical companies and CMOs to boost the supply of medications.

The Asia Pacific will grow with the fastest-growing CAGR during the forecast period. Growing disposable income levels and increased health awareness among consumers in the Asia Pacific, particularly in developing nations like China and India, are expected to support the pharmaceutical industry's expansion over the forecast period, increasing demand for its packaging.

Competitive Landscape

Due to the various worldwide competitors, global Sustainable Pharmaceutical Packaging is very competitive. Also, important firms are strengthening their market positions mostly through acquisitions, which makes the rivalry even more fierce. Important players compete directly with one another to win contracts from sizable pharmaceutical makers. Hence, it is noted that there is intense competition in the global market. Companies are concentrating on providing value-added services to draw in more customers. The most popular techniques used by packaging makers for coloring packing containers include spray painting, UV coating, and metallization.

The key players in the global Sustainable Pharmaceutical Packaging market include - 4Evergreen Alliance (Brussels), Amcor PLC (Switzerland), Gerresheimer AG (Germany), Schott AG (Germany), AptarGroup Inc. (U.S.), Berry Global Inc. (U.S.), Catalent Inc. (U.S.), O-I Glass Inc. (U.S.), West Pharmaceutical Services Inc. (U.S.), Nipro Corporation (Japan), Vetter Pharma International GmbH (Germany), Corrugated Container Corporation (U.S.), Coveris (UK), Creative Pollack (U.S.), Drug Plastics (U.S.), EPL (India), Essa Dee Aluminium (India), Georgia-Pacific Recycling (U.S.), GlaxoSmithKline (UK), Grupo Phoenix (U.S.), Hoffmann Neopac (Switzerland), Hughes Enterprises (U.S.), Huhtamaki (Finland), KEYES Packaging Group (U.S.), Keystone Folding Box (U.S.), Klockner Pentaplast (Luxembourg), Korber (Germany), Laddawn (U.S.), Laminor (U.S.), Nipro Corporation (Japan), Nordic Cold Chain Solutions (U.S.), Oceanworks (U.S.), PaperFoam (Netherlands), Pemcor Packaging (U.S.), Saxon Packaging (UK), World Wildlife Fund (Switzerland) among others.

Recent Market Developments

· May 2022: The introduction of EcoPositive, a label for all of the company's sustainable packaging options, has been announced by Bormioli Pharma, a producer of glass and primary plastic packaging for pharmaceutical applications. This comprises plastic and glass recycled materials, innovative polymer products, and bio-based, biodegradable, or compostable plastic alternatives.

· June 2022: Constantia Flexibles introduced a recycle-ready laminate with improved chemical resistance. The world’s third-largest flexible packaging manufacturer launched the first ready-to-be-recycled mono-material based on polypropylene (PP) with high chemical resistance for pharmaceutical products.

· July 2022: Pharmaceutical packaging blister packs made of corrugated cardboard are in more demand, according to Keystone Folding Box Company (USA). The adoption of new environmental sustainability legislation in India and the rise in demand for child-safe pharmaceutical packaging in the US were the main drivers of this surge in demand.

Segmentation of the Global Sustainable Pharmaceutical Packaging Market