Pharmaceutical Packaging Market Expected to Reach $233.3 Billion by 2035

According to a new report published by Allied Market Research, titled, “Pharmaceutical Packaging Market," The pharmaceutical packaging market was valued at $111.7 billion in 2023, and is estimated to reach $233.3 billion by 2035, growing at a CAGR of 6.3% from 2024 to 2035.

Pharmaceutical packaging industry refers to the process of enclosing pharmaceutical products in suitable containers to protect them from external factors such as light, moisture, oxygen, and contamination. It encompasses the design, development, and production of packaging materials and systems tailored to the specific requirements of medications. Pharmaceutical packaging ensures the integrity, stability, and safety of drugs throughout their lifecycle, from manufacturing to distribution and use by patients, while also facilitating dosing accuracy, regulatory compliance, and patient convenience.

Advancements in the biotechnology sector help maintain a steady stream in parenteral therapies that require pre-fillable solutions, which deliver drug therapies to consumers. This increases the demand for pure and high-quality packaging components for injectable biologics and biosimilars. Several biotech drugs have unique packaging requirements and polymer materials that can provide various solutions for patient safety and compliance. In addition, there are variety of products available that can help mitigate the risks such as barrier films for elastomer components that reduce potential extractable and leachable formation. However, some materials are sensitive to cyclic olefin polymers; and glass can be molded into a variety of shapes and sizes to accommodate drug products and their large-volume doses. The cyclic olefins can be molded to suit innovative delivery devices, offering differentiation in the pharmaceutical packaging industry.

Depending on the product, the market is segmented into parenteral containers, plastic bottles, blister packaging, closures, specialty bags, labels, and others. The plastic bottles segment accounted for the largest pharmaceutical packaging market share in terms of revenue in 2023 and is expected to maintain its lead during the forecast period. This dominance is attributed to multiple factors, including the widespread use of plastic bottles to package diverse pharmaceutical liquids and solids. Their versatility, lightweight construction, durability, and cost-effectiveness, coupled with compliance with stringent regulations, fuel sustained demand and growth in the pharmaceutical packaging market for plastic bottles.

However, the parenteral containers segment is expected to exhibit the fastest CAGR during the pharmaceutical packaging market forecast period owing to several factors. This growth is attributed to several factors, including the rising demand for injectable medications, increasing prevalence of chronic diseases, advancements in biopharmaceuticals, and expanding applications of parenteral drug delivery systems. Additionally, stringent regulatory requirements and a focus on patient safety further drive the pharmaceutical packaging market trends adoption of specialized parenteral containers, fueling market growth.

Depending on material type, the market is divided into glass, aluminum foils, plastics and polymers, paper and paperboards, and others. The plastics and polymers segment accounted for the largest pharmaceutical packaging market share in terms of revenue in 2023 and is expected to maintain its lead during the forecast period. This is attributed to the versatility, durability, and cost-effectiveness of plastic packaging solutions. Furthermore, continuous advancements in plastic materials and manufacturing technologies are enhancing the performance and functionality of plastic packaging, consolidating its stronghold in the market.

However, the glass segment is expected to exhibit the fastest CAGR during the pharmaceutical packaging market analysis  in forecast period. This growth is attributed to the remarkable barrier properties, inertness, and perceived high quality of glass packaging, especially for delicate pharmaceutical products. Moreover, rising demand for environment friendly and recyclable packaging materials contributes to the increasing adoption of glass in pharmaceutical packaging, thereby driving its growth during the forecast period.

Region-wise, North America garnered the largest share in terms of revenue in 2023 and is expected to maintain its lead during the forecast period. This is primarily attributed to high purchasing power, coupled with a rise in the adoption rate of smart and advanced packages. However, Asia-Pacific is expected to exhibit the fastest growth during the forecast period. This is attributed to the presence of large untapped opportunities in this region. Further, requirements for brand enhancement and differentiation, new packaging material development, increase in awareness of environmental issues, and the adoption of new regulatory requirements on recycling packages are projected to boost the growth of the Asia-Pacific pharmaceutical packaging market.

Key Findings of the Study 

• On the basis of product, the plastic bottle segment dominated the pharmaceutical packaging market size in terms of revenue in 2023. However, the parenteral container segment is anticipated to register the fastest CAGR during the forecast period.
• By material type, the plastics and polymers segment were the major revenue contributor in pharmaceutical packaging market size in 2023. However, the glass segment is anticipated to register the fastest CAGR during the forecast period.
• Region-wise, North America generated the largest revenue in 2023. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.