The pharmaceutical contract packaging market is expected to grow at a CAGR of around 6.8% during the forecast period 2020 to 2027 and is expected to reach US$ 47.5 billion by 2027. This research report evaluates the pharmaceutical contract packaging market on a global and regional level. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global pharmaceutical contract packaging market for the period from 2016 to 2027.
The report provides the overall revenue of the global pharmaceutical contract packaging market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year. The study includes drivers and restraints of the global pharmaceutical contract packaging market.
Contract packaging can be a compositeor easy process as it is adaptedas perexplicit scope of the packaging product, which differs significantly across the commercial retail, or trade sectors. Contract packaging and co-packaging playersoffer contract packaging services to product manufacturers and frequently act as an extension of the organization. Pharmaceutical contract packaging means sub contracting of secondary operations such as drug labelling and packaging third parties. A contract pharmaceutical packager offers services that include designing drug packing and testing of the packed drug. Foremost pharmaceutical players are now authorizing the operation of packaging of product to those service providers who are skillful and devoted in handling packaging of medicines.
The main goal of this research study is to offer a clear picture and a better understanding of the market to the manufacturers, traders, and suppliers operational in it. The readers can gain a deep insight into this market from this piece of information that can enable them to convey and develop critical approaches for the further growth of their businesses.
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Global pharmaceutical industry is shifting at an unparalleled pace. Novel biological treatments for cancer, and a substantial upsurge of prevalent diseases like diabetes generates demand for processing and packaging and solutions to realize the several requirements across the globe. Revolutionary changes are happening in the sector of biological therapies concerning the cancer treatment and autoimmune diseases, also rare illnesses that only distress a very small number of patients. Subsequently, numerous global drug manufacturers are presently concentrating on the growth of novel formulations and have sub contracted their closing, filling, and packing tasks of leading products to contract manufacturers, which are founded in the markets such as India and China. All manufacturers need extremely flexible equipment that can adjust to new-fangled products and packing formats rapidly.
Snowballing strict quality necessities and subcontracting of pharmaceutical packaging to contract packagers in emergent nations are anticipated to support the market during years to come. Pharmaceutical players are subcontracting the packaging operations to contract packagers to decrease the total speed and cost of production to market. This is predicted to subsidize to the market expansion during next few years. Additionally, deficiency of in-house packaging competences, proficiency, and budget restrictions are the few crucial problems confronted by small pharmaceutical firms in the market. Contract packaging service providers are considered as an operative way to limit such problems of the small companies due to the affordable service offering.Deficiency of resources and finances has encouraged several small pharmaceutical players to recognized mutually advantageous associations with CDMOs and CPOs.
- Asia Pacific expected to record fastest growth rate due to the intensifying requirement for medicines amongst COVID-19 epidemic and snowballing dependence on contract manufacturing organizations owed to better-quality competence and output
- The primary packaging segment grasp the major market revenue share due to the upsurge in sub contracting of primary wrapping tasks to CPOs
- The glass segment held the considerable revenue share of more than 35% in 2019 owing to mid sized and small pharmaceutical companies who do not possess glass wrapping abilities
- North America hit largest revenue share of the global pharmaceutical contract packaging market in 2019
The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The pharmaceutical contract packaging report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.
Key Players & Strategies
Some of the chief players involved in the contract pharmaceutical packaging are Becton, Dickinson and Co., AmerisourceBergen Corp., and Berlin Packaging. Few otherplayers operating in the pharmaceutical contract packaging market arena are SCHOTT AG, Amcor plc, Bosch Packaging Technology GmbH., , Catalent, Inc, KlöcknerPentaplast, Gerresheimer AG, Bausch+Ströbel, AptarGroup, Inc., Wipak Oy, WestRock CompanyRobert DuPont de Nemours, Inc., among other local and international player.
Though the snowballing number of new drug approvals by the FDA will offer enormous growth openings, the appearance of in-house packaging will challenge the progress of the market players. To make the most of the prospects, market players should emphasis more on the development outlook in the strong-growing segments, whereas upholding their foothold in the slow-growing market segments.
North America dominates the global in pharmaceutical contract packaging marketplace on account of U.S. been global front-runner in drug manufacturing for numerous diseases. Asia Pacific is probable to eyewitness the rapid over next few years because of the occurrence of a great number of contract packaging service providers in the region. These companies are concentrating on escalating their services to cater the rising requirements of pharmaceuticals players. Further, snowballing the subcontracting pharmaceutical packaging to developing nations like India is further thriving the growth of the market in the APAC.
Escalating health awareness and swelling stress on the pharma players for reduction of the cost is added reason to further reinforce the growth of the pharmaceutical contract packaging market. Pharmaceutical drugs such as allopathic, antibiotic and alternative have huge request from consumers from APEJ nations. The development of pharmaceutical players in APEJ region will lift the market of pharmaceutical contract packaging as most of these players doesn’t engross itself in packingand wrapping of medicine. Western Europe nations including France, Germany, and U.K. are also progressing with a decent speed towards pharmaceutical contract packaging to curbadded operational expenditures of packaging for pharmaceutical firms.
Segments Covered in the Report
This research report includes complete assessment of the market with the help of extensive qualitative and quantitative insights, and projections regarding the market. This report offers breakdown of market into prospective and niche sectors. Further, this research study calculates market revenue and its growth trend at global, regional, and country from 2016 to 2027. This report includes market segmentation and its revenue estimation by classifying it on the basis of material, product and region as follows:
- Primary Packaging
- Blister Packs
- Secondary Packaging
- Tertiary Packaging
- Paper & Paperboard
- Plastics & Polymers
- Aluminum Foil
By Regional Outlook
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- North Africa
- Rest of Middle East & Africa
Why should you invest in this report?
If you are aiming to enter the global pharmaceutical contract packaging market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for pharmaceutical contract packaging are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Key Points of Pharmaceutical Contract Packaging Market
Chapter 1: Introduction
Chapter 2: Research Methodology
Chapter 3: Executive Summary
Chapter 4: Pharmaceutical Contract Packaging Market Variables and Scope
Chapter 5: COVID 19 Impact on Pharmaceutical Contract Packaging Market
Chapter 6: Pharmaceutical Contract Packaging Market Dynamics Analysis and Trends
Chapter 7: Global Pharmaceutical Contract Packaging Market: Competitive Landscape
Chapter 8: Global Pharmaceutical Contract Packaging Market, By Product Type
Chapter 9: Global Pharmaceutical Contract Packaging Market, By Material
Chapter 10: Global Pharmaceutical Contract Packaging Market, Regional Estimates and Trend Forecast
Chapter 11: Company Profiles
Chapter 12: Appendix
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