Pharmaceutical Packaging Sector to Exhibit Appreciable Growth Owing to Deployment of Smart Technology

One of the latest developments in the pharmaceutical packaging sector is the surging adoption of smart technology including QR codes, Bluetooth, and NFC. Experts opine that this technology could be used for the identification of damaged drugs. The incorporation of Bluetooth within the system would help in transporting temperature-sensitive drugs.

According to Fortune Business Insights, the global market size of pharmaceutical packaging was USD 9.94 billion in 2022. The market is set to expand from USD 105.01 billion in 2023 to USD 156.12 billion by 2030, exhibiting a CAGR of 5.8% from 2023 to 2030. The rise can be credited to the surging development of novel drug systems such as prefilled syringes and inhalers.

Each year, the pharmaceutical industry is rolling out new drugs which might not reach the user in perfect condition. Effective packaging helps in the protection of drug content from chemical and physical damage during the use, storage, and sale of the product.

According to credible sources, pharmaceutical packaging is done at three levels - primary, secondary, and tertiary. The primary level is considered critical for a product given its direct contact with the drug. Therefore, the material deployed must be suitable not to alter the chemical composition of the drug. A few examples of standards include vials, bags, ampoules, strips, blisters, syringes, containers, and dosing dopplers.

Given below are the top 10 pharmaceutical packaging companies in the industry. These are centered on the formulation and adoption of a series of strategic initiatives for strengthening their position in the market. Merger agreements, acquisitions, formation of alliances, and the rollout of new products are some of the major steps undertaken by industry players. Some of the additional initiatives include an escalation in research activities and the development of new pharmaceutical packaging solutions:

1. Amcor plc:

Amcor plc is a supplier and manufacturer of specialty folding cartons and flexible packaging. The company is focused on making reusable, light-weighted, and prepared packaging using recycled content. In April 2022, Amcor hit the headlines for adding new and sustainable High Shield laminates in their pharmaceutical portfolio.

2. Gerresheimer AG:

Gerresheimer AG is a manufacturer of primary products for drug delivery devices and medication made of special-purpose plastics and glass. The company is one of the top 10 pharmaceutical packaging companies for the cosmetics and pharmaceutical industries, headquartered in Dusseldorf.

In March 2022, the company established a new unit in Ohio for the production of pharmaceutical container solutions. The plant would produce Duma Twist Off Square brand’s primary plastic packaging. The same would be developed with a 40 ml filling volume with a desiccant and closure for filing solid medications.

3. Origin Pharma Packaging:

Origin Pharma Packaging is an innovative packaging company for nearly 60 years. The company has a portfolio of in-house manufactured components fostered by a holistic supply solution.

In January 2022, Origin Pharma Packaging launched a packaging piece dedicated to the medical cannabis sector. The jar is designed to support the flower product that is prescribed in certain countries of Europe as ‘buds’.

4. West Pharmaceutical Services:

West Pharmaceutical Services, Inc., is a leading company in the manufacturing and designing of injectable pharmaceutical packaging systems. They are a leading provider of innovative and high-quality injectable solutions dedicated to the improvement of health for patients across the globe. In January 2022, West Pharmaceutical Services, Inc., declared an exclusive technology agreement with Corning Incorporated. The partnership comprised a multimillion-dollar investment in the expansion of Corning’s Valor Glass technology for enabling advanced injectable drug packaging for the pharmaceutical sector.

5. Nelipak Healthcare:

Nelipak is a worldwide leading thermoforming company serving worldwide customers. The company is known for the development, design, and manufacture of an extensive range of thermoformed products. 

6. SCHOTT AG:

Schott AG is a German-based multinational glass company. Based in Mainz, Germany, the company is specialized in the manufacturing of glass and glass ceramics. In January 2022, SCHOTT rolled out hermetic packaging components for augmented reality. The solutions are aimed at miniaturizing optoelectronic performance for AR light engine systems.

7. Becton, Dickinson, and Company:

Becton, Dickinson, and Company is an American tech company focused on the selling and manufacturing of reagents, instrument systems, and medical devices. In September 2022, the company launched a glass pre-fillable syringe (PFS) that set a new standard in vaccine performance with new and tightened specifications for integrity, processability, contamination, and cosmetics.

8. WestRock:

Westrock is an American packaging company focused on driving innovation in packaging. In November 2022, the paper and packaging solutions provider agreed for divesting the remaining equity interest in RTS packaging to its JV joint venture partner, Sonoco. The venture provides corrugated partitions and solid fiber to food, liquor, wine, and pharmaceutical producers.

9. Berry Global: 

Based in Indiana, Berry Global is a leading manufacturer and marketer of plastic packaging products. The company has more than 300 facilities and over 47,000 employees. In July 2022, Berry Global launched Vita Round. The reusable drinking bottle was rolled out as a replacement for single-use bottles. The bottle is manufactured for addressing the increasing demand for an on-the-go convenient drinking solution.

10. Constantia Flexibles:

Constantia Flexibles is a leader in the consumer, pharmaceutical, and flexible packaging sectors. In June 2022, the company rolled out the first ready-to-be-recycled mono-material based on PP (propylene) with high chemical resistance for pharmaceutical products. The solution replaces multi-material packaging for chemically aggressive products such as hydro-alcoholic gel and pharmaceutical liquid.

Rapid Expansion of Packaging Solutions to Be the Way Ahead

In the coming years, the industry is experiencing rapid expansion given that pharmaceutical packaging solutions help in storing, securing, and protecting drugs. During the life of the product, packaging can be used for product promotion and its differentiation from the competition. Besides, the rising demand for medicines and pharmaceutical drugs is expected to propel industry expansion over the forecast period. Some of the other factors fueling the pharmaceutical packaging industry landscape are the rise in diseases such as asthma and diabetes and the increasing aging population across various regions.