Saudi Arabia Pharmaceutical Packaging Market Size (2024 - 2029)

Saudi Arabia Pharmaceutical Packaging Market Analysis

The Saudi Arabia Pharmaceutical Packaging Market size is estimated at USD 1.20 billion in 2024, and is expected to reach USD 1.66 billion by 2029, growing at a CAGR of 6.64% during the forecast period (2024-2029).

• Pharmaceutical packaging primarily refers to items designed for transporting and storing drugs and is made of appropriate materials. Based on the nature of the medicine, packaging materials are chosen from various material types and product types to provide protection, identity, and integrity for the contained drug product.
• Saudi Arabia is the largest economy in the Middle East in terms of GDP and population. Saudi Arabia has the largest pharmaceuticals market in the Gulf Cooperation Council (GCC) region. According to the OECD, by 2030, pharmaceutical spending in Saudi Arabia will reach approximately USD 22,782 million.
• Saudi Arabia is widely well-known as a pharma manufacturing hub in the Middle East. With many domestic and international vendors setting up businesses with local generic manufacturers, there is a scope for robust, secure, organic growth, which is expected to drive demand for packaging.
• The pharmaceutical industry has developed significantly due to numerous circumstances, including Saudi regulatory norm expansion and an emphasis on population health management and invention. Furthermore, rising demand for over-the-counter medications and a more knowledgeable client base are boosting market expansion.
• However, substantial obstacles such as financial limits, a lack of expertise, outdated equipment, a shortage of competent personnel, and an understanding of fundamental healthcare processes limit access to healthcare services. The volatility of raw material costs and stringent regulatory norms and requirements may also hamper the pharmaceutical packaging market. Environmental issues about pharmaceutical packaging raw materials limit business expansion.
• During the COVID-19 pandemic, the Saudi Arabian pharmaceutical packaging market witnessed growth as the demand for pharmaceutical products, such as sanitizers and medicines, increased, driving the market. The need for pharmaceutical packaging in Saudi Arabia increased over the next 2-3 years due to the availability of the COVID-19 vaccine. Various suppliers increased their capacity to satisfy the increased demand.

Saudi Arabia Pharmaceutical Packaging Industry Segmentation

Pharmaceutical packaging is used to pack pharmaceutical products to secure them from any external harmful toxins and rays. With the rising population and the increasing workforce, the per capita spending on healthcare services is also growing in the region. Thus, the busy schedule and changing lifestyles are expected to lead to increased adoption of easy-to-swallow medicines, leading to the growth in demand for powdered and liquid forms of medicine. This would create demand for different packaging types, such as pouches and sachets. In turn, it would also act as a catalyst for market growth.

The Saudi Arabian pharmaceutical packaging market is segmented by material (plastic, paper and paperboard, glass, and aluminum foil) and type (bottles, ampoules, caps and closures, cartridges, IV (intravenous) bags, canisters, medication tubes, vials, syringes, strip and blister packs, pouches, and sachets). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.