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Global Pharmaceutical Contract Packaging Market to Grow at 8.07% During 2022-2027, Bolstered by Smart Packaging Solutions

Published on Dec 22, 2021

The latest report by IMARC Group, titled “Pharmaceutical Contract Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the  global pharmaceutical contract packaging market size reached US$ 18.44 Billion in 2021. Pharmaceutical contract packaging refers to the outsourcing of secondary operations such as drug packaging and labeling to third-party suppliers. It is increasingly used by pharmaceutical companies in the packaging of drugs as it offers optimum pharmacological effects to patients. Pharmaceutical contract packaging also provides other services like assembling and secondary packaging of vials, pre-filled syringes, and auto-injectors. It is cost-effective, flexible, profitable, saves time and helps in keeping up with the changing times.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. 

Global Pharmaceutical Contract Packaging Market Trends: 

The market is primarily driven by the increasing prevalence of lifestyle and cardiovascular diseases, resulting in the growing number of patients. Besides this, the rising demand for biological therapies, such as cell and gene therapy, is fueling the market growth. In addition to this, stringent quality requirements imposed by governing authorities on pharmaceutical packaging have resulted in outsourcing pharmaceutical packaging to contract packaging providers for efficient and simple packaging solutions. Moreover, several small pharmaceutical companies face issues like lack of in-house packaging capacity, expertise, and budget constraints, which have shifted their preference toward contract packaging services that effectively curb these issues. Besides this, service providers are coming up with sophisticated and smart packaging solutions to meet the expectation of the clients. Furthermore, extensive investment in research and development (R&D) activities for the development of advanced plastics, and the introduction of patient-specific implants and 3D printed devices are creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 8.07% during the forecast period (2022-2027).

Market Summary: 

  • Based on the industry, the market has been segmented into small molecule, biopharmaceutical, and vaccine.
  • On the basis of the type, the market has been classified into sterile and non-sterile. Among these, sterile pharmaceutical contract packaging holds the largest market share.
  • The market has been categorized based on the packaging into plastic bottles, caps and closures, blister packs, prefilled syringes, parenteral vials and ampoules, and others. At present, plastic bottles account for majority of the market share.
  • Region-wise, the market has been divided into United States, Europe, China, India, and others. Currently, the United States holds the leading position in the market.
  • The competitive landscape of the market has been examined in the report, with the detailed profiles of some of the key players operative in the industry.

 

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