Biologics CDMO Secondary Packaging Market to Generate $3,622.6 Million Revenue by 2030

The global biologics CDMO secondary packaging market revenue is expected to reach $3,622.6 million by 2030, exhibiting a compound annual growth rate of 8.7% during 2021–2030. This can be attributed to the rising prevalence of chronic diseases, and the increasing adoption of development strategies, such as geographical expansions, mergers & acquisitions, and partnerships, by market players.

Furthermore, the global drug R&D ecosystem continuously evolves, and pharmaceutical companies are becoming interested in learning the fastest approach to launching new medications, using a clinical development strategy, are driving the market. In order to better address the unmet medical needs and increase their commercial presence, a number of new pharmaceutical businesses are seeking a global footprint. Additionally, since pharmaceuticals improve the quality of life, their demand is increasing due to the necessity to treat age-related and chronic diseases.

Moreover, with the introduction of new technologies as well as more economical and effective manufacturing techniques, the pharmaceutical industry has experienced a significant transition. Additionally, the advancement is driven by the rising investment in this sector. Hence, with the increase in the development of more effective pharmaceuticals, which are needed to be handled carefully, many companies are offering innovative packaging solutions around the world.

Blister Packs Lead the Market

Blister packs led the biologics CDMO secondary packaging market in 2021, and the category is also expected to register the highest CAGR during the forecast period. They are gaining traction, due to their huge shelf-life and easy-to-use capability. Moreover, they are lightweight, easy to handle, provide better product visibility, and facilitate consumers by offering details about the biologics, so as to enable them to store biologics for a longer period.

Geographically, North America is the largest market, contributing over 40% revenue share in 2021. The rising demand for biologics, the proliferating prevalence of diseases, and the growing healthcare spending act as the major drivers for the regional market. Moreover, with the ongoing innovations in the field, continuous growth in drug pipelines, and a steady rise in the count of drug approvals, the secondary packaging market is likely to witness robust growth in the future in the region.

On the other hand, the APAC market is expected to register the highest CAGR during the forecast period. The improving healthcare system, the increasing government initiatives, the changing lifestyles, and the rising geriatric population are the key factors contributing to the demand for biologics and further strengthening the progress of the secondary packaging market.

Furthermore, the LATAM market is projected to register moderate growth over the forecast period. This advancement can be mainly credited to the increasing prevalence of chronic diseases and the rising geriatric population, which is susceptible to a number of diseases. Another major driver for the market growth is the clinical testing cost, which has skyrocketed in the past few years and is expected to increase by a few million dollars every year. This compels pharmaceutical companies to outsource the clinical research aspect of biologics development.

Moreover, various companies are seeking the outsourcing of therapeutic development, right from the production of the drug substances and finished drug products to their packaging, due to their limited capacity and the desire to save on production expenses. Thus, this factor bolsters the demand for packaging solutions.

Key players in the market include Catalent Inc., Rentschler Biopharma SE, Emergent BioSolutions Inc., WuXi Biologics (Cayman) Inc.,       Samsung Biologics Co. Ltd., Lonza Group Ltd., Pfizer Inc., FUJIFILM Diosynth Biotechnologies U.S.A. Inc., Thermo Fisher Scientific Inc., and Eurofins Scientific.