Pharmaceutical Contract Packaging Market

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Growth of the Global Pharmaceutical Contract Packaging Market

The global pharmaceutical contract packaging market is expected to grow from USD 17.06 billion in 2024 to around USD 43.46 billion by 2034, with a compound annual growth rate (CAGR) of 9.8% over the next decade.

Pharmaceutical Contract Packaging Market Size 2023 - 2032

Download Statistical Data: https://www.towardspackaging.com/download-statistics/5165

Key Insights from the Global Pharmaceutical Contract Packaging Market

The global pharmaceutical contract packaging market, valued at USD 15.54 billion in 2023, is set to grow significantly, with an expected value of USD 36.05 billion by 2032. This growth is projected at a compound annual growth rate (CAGR) of 9.8% between 2023 and 2032.

Key factors driving the growth include North America’s evolving role in pharmaceutical contract packaging and Asia Pacific’s expanding opportunities in the sector. Additionally, the cost-effectiveness of plastic packaging and factors influencing bottle selection are key considerations in the industry. Oral pharmaceutical packaging, including pills and powders, is a significant part of the contract packaging process.

Contract packaging involves outsourcing packaging tasks to third-party companies, known as co-packers, who handle the packaging, storage, and distribution of products. In the pharmaceutical industry, these companies offer a range of services, from high-volume commercial packaging to ongoing support throughout the product life cycle. The pharmaceutical packaging market, valued at USD 117.23 billion in 2022, is expected to continue growing.

Packaging plays a vital role in the pharmaceutical supply chain, not only for presentation but also for compliance, safety, and maintaining the stability of the product. It protects drugs during distribution, storage, and consumption, ensuring patient safety and drug efficacy. Packaging also prevents contamination, degradation, and ensures sterility.

The pharmaceutical packaging industry is typically divided into three categories: primary, secondary, and tertiary packaging. Primary packaging is the part that directly contacts the drug product, making it essential to ensure that the packaging does not affect the chemical composition of the drug. Secondary packaging consolidates primary packaged goods into larger units for easier distribution, while tertiary packaging is focused on bulk shipping and storage.

For example, in February 2021, Central Pharma, a major pharmaceutical outsourcing provider, acquired Biotechnica, the UK’s largest seaweed extract manufacturer.