Asia-Pacific Pharmaceutical Plastic Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Asia-Pacific Pharmaceutical Plastic Packaging Market Analysis

The Asia Pacific Pharmaceutical Plastic Packaging Market size is estimated at USD 14.60 billion in 2024, and is expected to reach USD 20.82 billion by 2029, growing at a CAGR of 7.36% during the forecast period (2024-2029).

The region's dominance as home to the world's largest plastic producers ensures a steady supply of plastic materials, significantly impacting the sales of plastic packaging in the pharmaceutical sector. In 2023, Asia-Pacific produced over 50% of the world's total plastic output. Coupled with the region's rapidly growing pharmaceutical industry, this sets the stage for robust market growth.

• The demand for cost-effective and dependable packaging in pharmaceuticals propels the region's plastic packaging market. The diverse range of available monomers caters to various drugs, enhancing plastic's appeal in pharmaceuticals. Moreover, plastic containers increasingly replace glass for drug storage, minimizing breakage risks.
• Unit-dose packaging solutions, crucial for preventing dosage errors, are driving the demand for plastics in blisters and other formats like stick packs and pouches. Plastic's flexible and rigid packaging versatility offers added advantages for pharmaceutical manufacturers.
• As vaccine demand surges due to viral outbreaks, there's a corresponding rise in the need for disposable items like syringes and ampoules, driving the region's pharmaceutical plastic packaging market growth.
• Multinational pharmaceutical companies are expanding in the region, drawn by low manufacturing costs, accessible raw materials, and increasing healthcare spending. For instance, in May 2023, Aurigene Pharmaceutical Services, part of Dr. Reddy's Laboratories, invested USD 40 million to build a new biomanufacturing facility in India, focusing on therapeutic proteins, antibodies, and viral vectors.
• Government incentives for pharmaceutical production lure manufacturers and positively influence the packaging market. In March 2023, Inden Pharma's joint venture with ALPLA Group signaled its intent to broaden its reach beyond Europe, targeting markets like India and the United States. This expansion aims for a three-fold increase in annual production, targeting 800 million pharmaceutical packaging products over the next five years.

Asia-Pacific Pharmaceutical Plastic Packaging Market Trends

Rising Diabetes Rates Propel Growth in Pharmaceutical Plastic Packaging Market

Asia-Pacific Pharmaceutical Plastic Packaging Industry Segmentation

The pharmaceutical plastic packaging market encompasses flexible and rigid solutions for storing and packing pharmaceutical products. Stringent regulations and safety requirements for pharmaceuticals heighten the demand for plastic packaging, as it effectively mitigates contamination risks. As new drugs and medications are developed, the sales of pharmaceutical plastic containers surge. During the forecast period, the market is poised for growth, driven by adopting cost-effective, child-resistant, and senior-friendly packaging solutions. Furthermore, introducing eco-friendly plastic materials addresses the sustainability concerns prevalent among pharmaceutical brands.

The Asia-Pacific pharmaceutical plastic packaging market is segmented by raw material (polypropylene, polyethylene terephthalate, low-density polyethylene, high-density polyethylene, and other raw materials), product type (solid containers, dropper bottles, nasal spray bottles, liquid bottles, oral care, pouches, vials and ampoules, cartridges, syringes, caps and closures, and other product types), and country (China, India, Japan, and rest of Asia-Pacific). The report offers market forecasts and size in value (USD) for all the above segments.