DUBLIN--(BUSINESS WIRE)--The "Pharmaceutical Secondary Packaging Market by Type of Secondary Packaging, Type of Primary Packaging Packed and Key Geographies: Industry Trends and Global Forecasts, 2022-2035" report has been added to ResearchAndMarkets.com's offering.
This report features an extensive study of the current market landscape and future potential of the pharmaceutical secondary packaging market. The study features an in-depth analysis, highlighting the capabilities of pharmaceutical secondary packaging providers.
On an average, around 50 drugs are approved by the US Food and Drug Administration (US FDA) annually. Further, studies indicate that more than 100,000 tons of pharmaceutical products are consumed globally per year. In addition, over the next five years, the global pharmaceutical market is projected to grow at a CAGR of 4.7%, with global drug sales anticipated to raise revenues worth USD 1.5 trillion in 2023.
This continuously growing pipeline of pharmaceutical drug products has inadvertently led to an increase in the demand for their associated primary packaging and secondary packaging solutions. Specifically, pharmaceutical secondary packaging is a vital step in the product supply chain as it encloses life-saving drugs and therapies, preserving the identity, quality, integrity and stability of the packaged drug product.
It also plays a key role in marketing and brand projection for a product. However, the process of secondary packaging usually involves time consuming and complex activities, such as blister carding, thermoforming, labeling, kitting, assembly and cold chain storage (for temperature sensitive biologics). Other key challenges faced by developers are limiting variability in packaging materials and ensuring compliance to stringent regulatory guidelines (for packaging designs). Considering the aforementioned concerns, many pharmaceutical players now prefer to collaborate with qualified packaging providers that offer non-traditional packaging solutions and have the required capabilities to create unique packaging designs, in a cost and time effective manner.
As per the CDMO Outsourcing Survey conducted by Nice Insight, specifically for clinical and commercial scale operations, nearly 60% of the pharmaceutical companies currently outsource their primary packaging needs, while 43% of the players outsource their secondary packaging requirements. At present, more than 160 companies offer secondary packaging solutions to the firms engaged in the pharmaceutical sector.
Further, several recent advancements in packaging designs, technologies and materials have enabled service providers to offer a wide range of user-friendly pharmaceutical secondary packaging solutions. In addition, substantial expansions, mergers and acquisitions, and partnerships have been reported in this market as service providers strive to become one-stop-shops, in order to cater to the diverse needs of their clients engaged in the healthcare industry. Driven by the ongoing innovation in this field, continuous growth in the pharmaceutical drugs pipeline and a steady rise in drug approvals, the pharmaceutical secondary packaging market is likely to witness positive growth in the foreseen future.
Companies Mentioned
- 3C! Packaging
- 3R Pharmaceutical Industries
- ABS (Australian Blister Sealing)
- Acceleration Laboratory Services
- Acorda Therapeutics
- Active Pharma Supplies
- Aenova
- Alcami
- Alcura
- Alifarm Laboratories
- allpack group
- Almac Group
- Alnylam Pharmaceuticals
- Amcor
- Amgen
- Ansapack
- Anthos Therapeutics
- Aphena Pharma Solutions
- Aquapak
- AR Packaging
- Ardena
- Arkay Packaging
- AstraZeneca
- Atecna
- Aucta Pharmaceuticals
- Autajon
- BAP Pharma
- Bellwyck
- Bellwyck Pharma Services (acquired by PCI Pharma Services)
- Bemis
- Berkshire Sterile Manufacturing
- Berlin Packaging
- Berry Global
- Biotechnica (acquired by Central Pharma)
- Birchwood Contract Manufacturing
- Bormioli Pharma
- Bristol-Myers Squibb
- Bushu Pharma
- Caligor Coghlan Pharma Services
- And Many More Companies!
Key Questions Answered
- Who are the leading players engaged in the pharmaceutical secondary packaging domain?
- What is the relative competitiveness of different pharmaceutical secondary packaging providers?
- Which type of partnership models are most commonly adopted by industry stakeholders?
- What kind of expansion initiatives have been undertaken by pharmaceutical secondary packaging providers?
- What is the present and likely future demand for secondary packaging solutions in the pharmaceutical sector?
- How is the current and future market opportunity likely to be distributed across key market segments?
For more information about this report visit https://www.researchandmarkets.com/r/qcgl9t
