Factors contributing to the growth of the aseptic packaging market include a rising demand for biologics and vaccines and greater focus on sustainability, a report states.
According to a report by Research Nester, the global aseptic packaging market is projected to reach a revenue of $35 billion by 2033 and is estimated to reach a compound annual growth rate (CAGR) of 10 percent between 2023 and 2033.
Aseptic packaging eliminates the necessity for preservatives and refrigeration which is especially advantageous for medications and vaccines that are sensitive to temperature changes.
Aseptic packaging has vastly improved the stability and safety of medications, as it provides benefits such as drug stability and more efficient distribution methods.
Examples of aseptic packaging in the pharmaceutical industry include pre-filled syringes, IV bags, vials and ampoules, freeze-drying, lyophilisation and blow-fill-seal (BFS) technology.
Growth of the European aseptic packaging market
The pharmaceutical industry in Europe is witnessing growth in the market for aseptic packaging. Research Nester highlighted statistics which acknowledged that European production of pharmaceutical aseptic packaging is expected to reach $56 billion by 2026.
According to the report, European production has grown by approximately 5.4 percent annually in recent years. Contributing factors include a rising demand for biologics and vaccines and advancements in pharmaceutical R&D. For example, Statista stated earlier this year that Roche invested around $14 billion in R&D in 2022, making it a leader in R&D spending last year.
Additionally, the report noted that with the focus of sustainability becoming increasingly prevalent worldwide, aseptic packaging is particularly appealing because it is considered eco-friendly, as the materials used to make these packages come from various renewable sources. This aligns with Europe’s efforts to reduce waste and energy usage.
Technology advancement and pharmaceutical packaging
A paper published in Pharmaceutics also described how technology will, in the coming years, bring about a widespread adoption of robots in aseptic manufacturing environments. Not only could advanced technologies be beneficial in final packaging, but it could be advantageous across the entire production chain, including the filling stage.
#Aseptic #packaging #market #35bn