Growth in the global packaging and labeling market is driven by several factors including increased demand from OEMs to comply with regulatory requirements, cost savings, technical know-how, risk mitigation, increased drug manufacturing, and the rising prevalence of chronic diseases, infectious diseases, and genetic disorders.
Contract Development and Manufacturing Organizations (CDMOs) that specialize in packaging provide a wide range of services, including product development, clinical and commercial API production, medication product manufacturing, primary and secondary packaging, labeling, sterilization, and distribution. They also provide producers specialized packaging solutions for some difficult or niche items.
Demand for Eco-Friendly Packaging and Labeling, as well as Compliance with Regulatory Requirements Factors Driving the Global Packaging and Labeling CDMO Market
The packaging and labeling CDMO business is expanding quickly. CDMOs’ packaging and labeling techniques have seen considerable alterations in recent years, reflecting the industry’s multidimensional growth. Primarily, sustainability has emerged as a prominent element, with a concentration on ecologically friendly packaging and labeling solutions.
For example,
· Jabil Inc. announced its acquisition of Ecologic Brands, Inc., a notable sustainable packaging manufacturer, in January 2021. This strategic decision significantly expands Jabil’s line of sustainable packaging.
Furthermore, severe regulations in industries like as pharmaceuticals and healthcare have boosted the demand for serialization and track-and-trace systems. CDMOs are using sophisticated technologies such as QR codes, RFID, and others to assure regulatory compliance, increase supply chain transparency, and prevent fraud.
Factors Influencing the Global Packaging and Labeling CDMO Market
Global packaging and labeling CDMO market is expected to develop at a healthy rate during the forecast period. Filling and packaging are critical components of the whole contract manufacturing process. The demand for specialized packaging has given rise to a new business known as contract manufacturing. Most businesses now outsource their packaging to organizations that specialize in medicine and device packaging.
The expanding elderly population, severe regulatory requirements of governing bodies, and enhanced packaging technologies are some of the drivers that will drive the global packaging and labeling CDMO market. Furthermore, a lack of in-house packaging skills, knowledge, and financial restrictions
For instance,
In June 2023, Catalent announced that its OneBio® Suite, an integrated solution encompassing development, manufacturing, and supply, has been expanded to encompass various biologic modalities. This suite provides customers with an all-inclusive service designed to expedite the progression of programs from development to manufacturing. This includes activities such as fill/finish, packaging, and assistance with clinical supply and commercial launch.
North America controls the majority of the global packaging and labeling CDMO market
In the future years, North America is likely to continue to dominate the worldwide market. This is mostly due to the region’s growing older population, intensive R&D, and the presence of significant businesses. The Asia-Pacific area, on the other hand, is predicted to have the greatest CAGR throughout the projection period. The Asia-Pacific market is being driven by factors such as technical developments in the packaging industry and increased investments in the healthcare sector.
Competitive Landscape Analysis of the Global Packaging and Labeling CDMO Market
Aphena Pharma Solutions, Eurofins Scientific, Catalent, PCI Pharma, Pfizer CentreOne, Becton, Dickinson & Co, Almac Group, Jabil, Tecomet, and Integer are among the leading competitors in the industry.
Organic and inorganic growth strategies used by firms to get a foothold in the global packaging and labeling CDMO market
Players operating in this market are adopting both organic and inorganic growth strategies such as collaborations, acquisitions, and new product launches to garner market share. For instance,
· Almac Pharma Services launched its innovative Ultra-Low Temperature Solutions of commercial packaging, labeling, and distribution services in March 2022 to help with the introduction of Advanced Therapy Medicinal Products (ATMPs) from its European Centre of Excellence. Almac customized services for Just-in-Time labeling, packaging, and serialization at ultra-low temperatures (ranging from -20°C to -80°C) will provide clients with a uniquely tailored experience, ensuring that every aspect of this intricately detailed process is finely adjusted to meet the precise needs of both the client and their valuable product.
The packaging and labeling CDMO market is expanding and expected to gain traction in the coming years as a result of a strong emphasis on developing new drugs and devices, investment in R&D to introduce several advanced products, and aggressive organic and inorganic growth strategies adopted by the players.
The following are the key strategic questions addressed in this research report:
· What is the global packaging and labeling CDMO market size and forecast?
· What are the historical, current, and anticipated market shares and growth rates of the Global Packaging and Labeling CDMO Market’s major segments and sub-segments?
· What influence has COVID-19 had on the Global Packaging and Labeling CDMO Market?
· What are the significant market growth drivers, constraints, and challenges?
· What are the current opportunities in the Packaging and Labeling CDMO Market?
· What is the investment environment for the Packaging and Labeling CDMO Market?
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