Packaging Innovation
pharmaceutical packaging market by 2022
January 9, 2018

It’s full steam ahead for the pharmaceutical packaging market

Will the pharmaceutical packaging market continue to thrive in the coming years? It sure looks like it, says MarketsandMarkets. With North America accounting for the largest piece of the pie, the pharmaceutical packaging market will be worth 50.55 billion USD by 2022. Overall, the market is forecast to increase at a compound annual growth rate of 6.29%.

High standard of living

The most developed country in terms of technology and standard of living, the United States are the largest market for pharmaceutical packaging in the world. However, developing countries are experiencing a rise in disposable income as well, boosting local healthcare awareness and facilities and, hence, medical packaging enterprises. One major driving factor for global growth, according to MarketsandMarkets, is the increasing popularity of implantable devices. Medical equipment and tools are said to account for the largest market share. Is your pharmaceutical packaging design 100% GMP compliant? Find out all you need to know and download our free whitepaper.

Pharmaceutical pouch packaging is trending

In terms of packaging, pouches and bags are the most preferred format worldwide. The pouches and bags segment is forecast to continue to grow significantly due to its diverse range of application areas and ease of use. Pouches and bags are in high demand as they are lightweight and easier to store and transport than their rigid counterparts.

Pharmaceutical packaging market: what about glass?

pharmaceutical packaging market by 2022 Experts agree to disagree when it comes to the future of glass medical packaging. MarketsandMarkets’ researchers believe the segment will increase over the next 4 years alongside blister packs and plastic bottles, be it at a modest rate. Grand View Research, by contrast, is convinced the pharmaceutical industry’s demand for glass packaging is set to decrease in the coming years due to the rising popularity of pouches and the increasing number of plastic production facilities in the Asia-Pacific.
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