The global Pharmaceutical Packaging Market is estimated to be valued at US$ 74.57 billion in 2016 and is expected to exhibit a CAGR of 7.76% over the forecast period of 2017-2025, according to a new report published by Coherent Market Insights.

Market Overview:

Pharmaceutical packaging refers to the packaging of pharmaceutical products such as tablets, capsules, syrups, and injectables. It plays a crucial role in protecting and preserving the integrity of the pharmaceutical products, ensuring their safety and efficacy. The need for pharmaceutical packaging arises due to the sensitive nature of drugs, which are prone to degradation, contamination, and tampering. Pharmaceutical packaging not only ensures the safety and quality of drugs but also provides important information to the patients such as dosage instructions, expiration date, and potential side effects.

Market Key Trends:

One key trend in the pharmaceutical packaging market is the growing demand for sustainable packaging solutions. With increasing environmental concerns and stringent regulations on plastic usage, pharmaceutical companies are adopting eco-friendly packaging materials and technologies. Flexible packaging materials such as pouches and bags made from bio-based polymers are gaining popularity due to their recyclability and reduced carbon footprint. Additionally, there is a growing trend of using child-resistant packaging to prevent accidental ingestion of drugs by children. The introduction of smart packaging involving the integration of sensors and indicators for real-time monitoring of drug quality and temperature control is also a key trend in the market.

Overall, the pharmaceutical packaging market is expected to witness high growth due to the increasing demand for sustainable packaging solutions in the pharmaceutical industry. This trend aligns with the global focus on environmental sustainability and regulatory requirements on reducing plastic waste.

PEST Analysis:

Political: The political factors influencing the pharmaceutical packaging market include government regulations and policies regarding healthcare, drug safety, and packaging standards. For instance, strict regulations regarding child-resistant packaging, tamper-evident seals, and labeling requirements can impact packaging design and manufacturing processes.

Economic: The economic factors affecting the pharmaceutical packaging market include GDP growth, healthcare expenditure, and disposable income. Increasing healthcare spending by governments and individuals, especially in emerging economies, is driving the demand for pharmaceutical packaging solutions.

Social: The social factors influencing the pharmaceutical packaging market include demographics, consumer preferences, and healthcare awareness. As the global population continues to age, the demand for pharmaceutical products is expected to rise, leading to a higher demand for packaging solutions. Moreover, growing health consciousness among consumers is increasing the demand for user-friendly, easy-to-open, and recyclable packaging solutions.

Technological: The technological factors impacting the pharmaceutical packaging market include advancements in packaging materials, automation, and digital printing technologies. Innovative packaging solutions, such as blister packs, smart packaging, and anti-counterfeiting measures, are gaining popularity in the market. Additionally, digital printing technologies enable personalized packaging and product information, enhancing customer engagement.

Key Takeaways:

The global pharmaceutical packaging market is expected to witness high growth, exhibiting a CAGR of 7.76% over the forecast period (2017-2025), due to increasing healthcare expenditure and growing demand for pharmaceutical products.

In terms of regional analysis, Asia Pacific is projected to be the fastest-growing and dominating region in the pharmaceutical packaging market. This can be attributed to factors such as increasing population, rising disposable income, and expanding pharmaceutical industry in countries like China and India.

Key players operating in the pharmaceutical packaging market include Amcor Limited, Berry Plastics Corporation, MeadWestvaco Corporation, Becton  and Company, Owens-Illinois Inc., West Pharmaceuticals Services Inc., Schott Pharmaceuticals Services Inc., RPC Group Plc, and Graphic Packaging International Inc. These key players have a significant market presence and offer a wide range of pharmaceutical packaging solutions to cater to the growing demand.