India pharmaceutical packaging market is projected to reach around US$ 3.25 Billion by 2030, in terms of revenue, exhibiting a CAGR of 9.7% during the forecast period (2023-2030).
India Pharmaceutical Packaging Market: Drivers
India Pharmaceutical Packaging Market: Restraints
India Pharmaceutical Packaging Market: Opportunity
India Pharmaceutical Packaging Market: Trends
India Pharmaceutical Packaging Market Report Coverage
|Base Year:||2022||Market Size in 2023:||US$ 1.7 Bn|
|Historical Data for:||2018 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||9.7%||2030 Value Projection:||US$ 3.25 Bn|
Amcor Plc., Aptar Group Inc., Huhtamaki Plc. and Uflex Limited
|Restraints & Challenges:||
India Pharmaceutical Packaging Market: Key Developments
In July 2022, the consumer health division of Cipla (Cipla) entered into a definitive contract to acquire Endura Mass (Endura Mass Weight Gain), a nutritional supplement for weight gain, from the private limited liability company Medinnbelle Herbalcare Pvt.Ltd. for an undisclosed sum.
In May 2022, Hong Kong-Nun Corporation (HK.N. Corporation) entered into an exclusive co-operation agreement with the Indian pharmaceutical and biopharmaceutical research and development company Dr.Reddy's Laboratories to supply and commercialize the patented novel molecule of HK.N. corporation, Tegoprazane, for the treatment of gastrointestinal diseases in the Indian market and six key emerging markets.
In June 2022, Glenmark Pharmaceuticals Limited, a global pharmaceutical company focused on innovation, launched a novel fixed-dose combination drug, Indacaterol+Mometasone, in India for the treatment of patients with uncontrolled asthma. The company has launched the Fixed-dose combination under its Indamet brand, and the medication will be available in three strengths: indacaterol (150 mcg), mometasone (80 mcg), and 320 mcg (160 mcg) once daily.
In March 2022, VIRALEX, an antiviral drug developed by Themis Medicare Ltd. Has granted marketing authorization by the DCGI. Double-blind, randomized, and compound (RCT) clinical trials have demonstrated that the drug aids in the initial relief of clinical symptoms in patients with mild to moderate COVID-19 infection.
India Pharmaceutical Packaging Market: Segmentation
The India pharmaceutical packaging market is segmented on the basis of product type and material type. Further, it is divided on the basis of product type: specialty bags (urinary collection bags, bile collection bags, blood bags, sterile packaging bags, enteral feeding), parenteral container (bags, bottles, ampoules, vials, and cartridges, others, parenteral container), others and on the basis of material type: glass, aluminum foils, plastics and polymers, paper & paperboards, others.
Figure 1. India Pharmaceutical Packaging Market Share (%), By Product Type, 2023
On the basis of product type, in 2022, the others segment accounted for the largest market share of 69% in terms of value, followed by the parenteral container and specialty bags, respectively.
Figure 2. India Pharmaceutical Packaging Market Share (%), By Material Type, 2023
On the basis of material type, in 2022, the plastics and polymers segment accounted for the largest market share of 35% in terms of value, followed by the paper and paperboards and aluminum foils, respectively.
India Pharmaceutical Packaging Market: Impact of Coronavirus (COVID-19) Pandemic
The financial impact of the COVID-19 pandemic was significant, particularly in the initial stages, due to the nationwide lockdown, government regulation, and the gradual increase in national infection rates. Nevertheless, the pandemic also led to an increase in market demand for packaging as consumers became increasingly concerned about the virus's viability on packaging surfaces.
India Pharmaceutical Packaging Market: Key Companies
Key Companies operating in India pharmaceutical packaging market are Amcor Plc., Aptar Group Inc., Huhtamaki Plc. and Uflex Limited
*Definition: Pharmaceutical packaging designs are based on scientific principles to ensure patient safety and ease of use. These packaging designs are intended to make the products easier to swallow and more convenient for patients. Additionally, they have designed packaging that fits into the modern consumer's lifestyle, which improves the likelihood of patient compliance. Packaging designs in the pharmaceutical industry include primary and secondary packaging.
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