Global Pharmaceutical Contract Packaging Market to Grow at a CAGR of 7.5% During 2024-2032, Aided by the Growing Pharmaceutical Sector and Increased R&D Investments

With the growing pharmaceutical sector, especially after the COVID-19 pandemic, the global pharmaceutical contract packaging market has witnessed substantial growth. With rising communicable and non-communicable diseases, the investment in pharmaceutical research and development has increased significantly.

Packaging, in the pharmaceutical sector, is often outsourced since the process is complex and involves several aspects, such as technical knowledge, design complexity, serialisation and aggregation, qualified staff, foreign-trade zone, and ID testing. This creates a requirement for specialised providers to manage packaging as a holistic process while adhering to stringent quality control standards and sustainability commitments. The increasing focus on new product development and its accelerated pace demands pharmaceutical manufacturers to focus on their core competencies and collaborate with contract packaging organisations, maintaining a broad supplier network.

Collaboration with third-party contractors for pharmaceutical packaging is supported by the rise of personalised medications and injectables, and the rapid pace of new product development.

According to industry reports, the health industry accounted for the highest sector R&D intensity (R&D as a percentage of net sales) of 12.4% in 2020.

Fig: Pharmaceutical R&D Expenditure – Annual Growth Rate (%)

Further, manufacturers are increasing their investments to upgrade their existing production facilities and equipment to fulfil the rising demand for high-quality packaging from the pharmaceutical sector. In September 2023, Mikart, LLC, a company that offers a range of services for creating solid and liquid oral dosage forms, acquired the Flexpack NF-150 Horizontal Sachet-Packaging Machine, which is a state-of-the-art piece of equipment. This investment is strategic, as it is designed to improve the company's production capabilities for both clinical and commercial manufacturing purposes.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Breakup by Industry, Type, Packaging, and Region:

• Based on the industry, the market can be divided into small molecule, biopharmaceutical, and vaccine.

• By type, the market is bifurcated into sterile and non-sterile.

• Based on packaging, the market can be segmented into plastic bottles, caps and closures, blister packs, prefilled syringes, and parenteral vials and ampoules.

• Region-wise, the global market for pharmaceutical contract packaging can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The pharmaceutical industry has experienced significant growth post-COVID-19, leading to increased demand for pharmaceutical contract packaging services.

• The service providers have expertise in offering quality and safe packaging services for pharmaceutical products, further meeting stringent quality standards.

• The healthcare industry demonstrates a high R&D intensity, with pharmaceutical R&D expenditure showing a notable annual growth rate.

Key Offerings of the Report:

• The EMR report gives an overview of the global pharmaceutical contract packaging market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the industry, type, packaging, and major regions of pharmaceutical contract packaging.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global pharmaceutical contract packaging market are Adelphi Healthcare Packaging, Almac Group, Berry Global Inc., PCI Services, and Sharp Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.