India Pharmaceutical Contract Packaging Market to Grow at 8.01% During 2024-2032, Propelled by Escalating Demand for Generic Drugs

October 12, 2022 | Packaging

According to the latest report by IMARC Group, titled “India Pharmaceutical Contract Packaging Market Report by Industry (Small Molecule, Biopharmaceutical, Vaccine), Type (Sterile, Non-Sterile), Packaging (Plastic Bottles, Caps and Closures, Blister Packs, Prefilled Syringes, Parenteral Vials and Ampoules, and Others), and Region 2024-2032”, the India pharmaceutical contract packaging market is expected to grow at a CAGR of 8.01% during 2024-2032. Pharmaceutical contract packaging involves the packaging of medical products under contract for clients who do not have enough resources or time for in-house packaging. The process of assembling and packaging pharmaceuticals usually involves contract packagers, who handle the primary, secondary, and tertiary stages, including packaging and distribution. Contract packaging services include blister packaging, cardboard packaging, kitting, liquid dispensing and packaging, parental labeling, and sterilization. In order to reduce overall production costs and increase speed to market, pharmaceutical companies are now outsourcing packaging activities to contract packagers.

India Pharmaceutical Contract Packaging Market Trends:

The market in India is majorly driven by the escalating demand for cost-reduction in drug manufacturing. This can be attributed to the increasing number of outsourcings in product packaging due to a lack of standardized packaging solutions in the pharmaceutical sector. In addition to this, the emergence of various pharmaceutical hotspots across the country is creating lucrative growth opportunities for the key market players. With a considerable rise in the advent of low-cost generic medicines following the expiration of patents, the demand for pharmaceutical contract packaging is on the rise. Furthermore, the widespread adoption of polymer and plastic packaging due to their high dimensional strength and fire resistance is providing an impetus for the contract packaging market. Some of the other factors contributing to the market include the growing need for faster drug delivery, the rising geriatric population susceptible to a wide number of ailments, and extensive research and development (R&D) activities focusing on modernized packaging.

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 divided into sterile and non-sterile.
Based on the packaging, the market has been categorized into plastic bottles, caps and closures, blister packs, prefilled syringes, parenteral vials and ampoules, and others.
On the geographical front, the market has been segregated into North India, West and Central India, South India, and East India.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Industry, Type, Packaging, Region
Region Covered	North India, West and Central India, South India, East India
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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India Pharmaceutical Contract Packaging Market to Grow at 8.01% During 2024-2032, Propelled by Escalating Demand for Generic Drugs

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