The latest report by IMARC Group titled, “Pharmaceutical Contract Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global pharmaceutical contract packaging market reached a value of US$ 10.11 Billion in 2017, growing at a CAGR of more than 7.5% during 2010-2017. The outsourcing of secondary operations such as drug packaging and labelling to third party companies is referred to as pharmaceutical contract packaging. The pharmaceutical contract packagers offer various facilities to the pharmaceutical industry such as production of bottles, blisters, pouches, sachets and oral thin films for the packaging of medicines. Along with this, they also extend secondary services towards the manufacturing process, like vial labelling, assembly and labelling of pre-filled syringes and auto-injectors, secondary packaging and knitting, etc. All this is carried out in compliance with the regulatory standards set by the government.
Highlights of the global pharmaceuticals contract packaging market:
- The major factor driving the growth of the market is the services offered by the pharmaceuticals contract packagers.
- Plastic bottles dominates the market as the biggest packaging category.
- The United Sates represents the largest market, accounting for the majority of the share.
With the rapid growth in the pharmaceutical industry, the importance and emphasis on the quality assurance of medical products has become paramount. The pharmaceutical contract packagers invest hugely in the R&D and make innovations in the technology to ensure the quality of medicines and other medical equipment. Moreover, these companies also have global presence, spreading across multiple markets. This helps pharmaceutical contract marketers in creating a fluid channel for the distribution of medicines and medical equipment across various regions. In this manner, they also serve different categories of customers such as start-ups and large multinationals, and promote the use of high-standard pharmaceuticals products in the emerging markets. Further, the market is expected to reach a value of US$ 15.6 Billion by 2023.
The market is segmented on the basis of packaging type such as plastic bottles, caps and closures, blister packs, prefilled syringes, and parenteral vials and ampules. Plastic bottles represents the biggest packaging category, accounting for the majority of the share. It is followed by caps and closures, and blister packs. The market is also segmented on the basis of key regions. The United States, Europe, China, India and Latin America are the major markets for pharmaceutical contract packaging, with the United States holding the largest share. An analysis of the competitive landscape provides the details of the key players operative in the market. Some of the major players are Amcor Ltd., AptarGroup Inc., Bilcare Research Ltd., Catalent Pharma Solutions Inc. and CCL Industries Inc.
The report has examined the global pharmaceutical contract packaging market on the basis:
Market by Packaging Type:
- Plastic Bottles
- Caps and Closures
- Blister Packs
- Prefilled Syringes
- Parenteral Vials and Ampules
- United States
- Latin America
- Amcor Ltd.,
- AptarGroup Inc.
- Bilcare Research Ltd.
- Catalent Pharma Solutions Inc.
- CCL Industries Inc.
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