The global pharmaceutical packaging market is poised for remarkable growth, with a projected compound annual growth rate (CAGR) of 9.7% from 2023 to 2030, according to a study by Grand View Research. This surge in demand can be attributed to various factors, including the aging U.S. population and a resurgence in pharmaceutical production within the United States, the world’s largest pharmaceutical market. As we explore the developments in over-the-counter (OTC) healthcare and pharmaceutical packaging trends, we’ll focus on answering why consumers increasingly opt for OTC solutions and how sustainability and personalization will play a more significant role.
The Appeal of OTC Pharmaceuticals
The over-the-counter (OTC) pharmaceuticals market has seen continued growth, spurred by the ease of accessibility and the ability to address common ailments without a doctor’s visit. Consumers appreciate the convenience and cost-savings of obtaining OTC medications and healthcare products on shelves at local drugstores and supermarkets or delivered to their homes via online pharmacies.
Trends in OTC Pharmaceutical Packaging
According to Statista, the global OTC pharmaceutical market revenue will increase rapidly, going from projected sales of $145.26 billion in 2023 to an increase of $179.42 billion in 2027. Here are some of the trends that are expected to power that growth:
The Online Pharmacies Revolution: The rise of e-pharmacy (online pharmacies) has transformed the OTC landscape. Companies like Hims & Hers have capitalized on discreet packaging and personalized experiences, providing consumers with a seamless online shopping experience for OTC products. The convenience of doorstep delivery and user-friendly websites make online pharmacies a compelling choice for modern consumers. This “virtual” OTC market is expected to grow at a CAGR of 13.73% and reach USD 142.75 billion by 2030, fueled in part by increasing access to web-based and online services, and the rising implementation of e-prescriptions in hospitals.
Senior-Friendly Packaging: As the senior population grows significantly, healthcare manufacturers are focusing on creating packaging that caters to the needs of older consumers. Sharper text, easy-to-open and larger diameter child-resistant closures, pictograms to demonstrate opening instructions and smart technology are essential components of senior-friendly packaging designs.
With seniors projected to make up 24% of the entire U.S. population by 2060, addressing their unique packaging requirements is paramount. According to The Association for Packaging and Processing Technologies (PMMI), 60% of Boomers will be managing multiple chronic diseases by 2030, with 33% taking multiple prescriptions.
Modern Aesthetics & Function: Millennials have particular preferences when it comes to packaging, and brands like OLLY Vitamins have created new designs based around their unique needs. This includes ensuring their products can integrate into their busy lifestyles seamlessly, with OLLY choosing to launch on-the-go packaging for their gummy products so their customer can carry them with them without having to worry about space constraints when traveling. Companies are targeting this niche by offering original visual content that goes beyond stock images and tells a story. Focusing on the values and benefits gained by purchasing the product, and not just the product itself, is a top tip for targeting Millennials in 2024.
Like Millennials, Gen Z consumers crave bright, bold colors and gummies. But this generation is also looking for packaging that is aligned with their values. Pharmaceutical and wellness companies would be wise to establish their presence with transparency and authenticity. Ingredient-focused packaging design gets straight to the truth. Inclusive design and sustainable offerings speak to this audience.
A Sustainable Future
Sustainability is not just a trend; it’s a commitment to the future. In fact, over 90% of respondents in the Pharmapack Market Survey identified sustainability as having the biggest bearing on product development over the next three years. Expectations for investment in eco-packaging are high, with 38% believing it will increase by up to half in the next five years. Embracing sustainable practices isn’t just a choice—it’s necessary for businesses aiming to thrive in a rapidly evolving landscape. Making your product package easier for consumer recycling is a great first step. Using recycled material in your package where acceptable is another good avenue to achieve sustainability improvement.
Companies like Cabinet Health focus on sustainable packaging solutions by providing one initial reusable glass bottle to store their product, and then send refills in compostable pouches. Innovations like metal-free nasal spray pumps offer improved recyclability for pharmaceutical products. A recycle-ready, mono-material package can offer improved recyclability for consumers.
Partner with MJS Packaging for Your OTC Packaging Needs
In this dynamic landscape, it’s crucial to have a packaging partner who understands the evolving needs of the pharmaceutical, healthcare, and wellness industry. At MJS Packaging, we are committed to delivering innovative and sustainable packaging solutions that resonate with today’s consumers. Whether you’re interested in online pharmacy packaging, senior-friendly designs, modern aesthetics, or environmentally conscious solutions, MJS Packaging has the expertise to bring your projects to life.
