As the global pharmaceutical industry emerges from the COVID-19 pandemic, it, like every other industry, is dealing with the fallout and aftereffects. However, the Pharmaceutical Industry has a key difference from others: it was and is still integral in the fight against the virus. Coupling this with companies reorganizing, emerging from restrictive measures including social distancing and decreased production, and beginning to operate in the new global landscape, the industry has seen exciting growth that is only forecasted to continue to grow. In 2020, the industry was estimated to be worth almost $1.23 trillion, and is expected to reach approximately $1.25 trillion in 2021. Forecasts also predict that the industry will reach approximately $1.7 trillion by 2025.
Intertwined with the global pharmaceutical industry is its subset, the pharmaceutical packaging industry. Since the two go hand-in-hand, it should be no surprise that the pharmaceutical packaging industry is also seeing exciting growth. With restrictions lifting and companies resuming more routine operations, the industry, which was valued at approximately $7.8 billion in 2020, is projected to grow to $8.81 billion in 2021, citing a compound annual growth rate of 13 percent. Over the next five years, the compound annual growth rate will drop slightly to 10.7%, with the industry reaching $13.23 billion by 2025.
The pharmaceutical packaging industry has different tiers and components that creates a complicated and intricate web under the overarching name. However, there are three main types of packaging equipment that make up the majority of the industry. The first, known as primary packaging equipment, involves equipment that physically contains the drug or medicine. The second, known as secondary packaging equipment, involves equipment that packages and protects the medicine for shipment and distribution. The final type, known as sterilization and labeling equipment, involves equipment to sterilize the packaging to protect the medicine from any contamination, as well as to label the packages with instructions and identifiable features.
Each week, check back as we explore interesting and intriguing fields in the pharmaceutical packaging industry, including the concepts of drug delivery, the popularity of blister packaging, and the rise of autoinjectors. Also be sure to check out our full inventories of Solid Dose equipment and Biopharmaceutical equipment today. You can also contact ustoday if there is something specific you are looking to purchase or if you have surplus equipment you would like to sell.
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