The Global Pharmaceutical Inks Market Size accounted for USD 3,736 Million in 2021 and is estimated to achieve a market size of USD 6,222 Million by 2030 growing at a CAGR of 6.1% from 2022 to 2030. The increasing use of prescription drugs and rising consumer awareness about medicines are the major factors driving the pharmaceutical inks market growth. Likewise, technological improvements in the pharmaceutical production process create prospects for the pharmaceutical inks market value expansion in the coming years.
Pharmaceutical Inks Market Report Key Highlights
Pharmaceutical inks are ingestible inks that are used on pharmaceuticals to specify the vital information related to medicine which includes the medicine name and the ingredients that are used to make medicines. This pharmaceutical ink is used for the interior and exterior packaging of medicines.
Global Pharmaceutical Inks Market Trends
Pharmaceutical Inks Market Report Coverage
|Market||Pharmaceutical Inks Market|
|Pharmaceutical Inks Market Size 2021||USD 3,736 Million|
|Pharmaceutical Inks Market Forecast 2030||USD 6,222 Million|
|Pharmaceutical Inks Market CAGR During 2022 - 2030||6.1%|
|Pharmaceutical Inks Market Analysis Period||2018 - 2030|
|Pharmaceutical Inks Market Base Year||2021|
|Pharmaceutical Inks Market Forecast Data||2022 - 2030|
|Segments Covered||By Product Type, By Pharmaceutical Type, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Sun Chemicals, Koel Colours Pvt. Ltd., Videojet Technologies Inc., Toyo Ink SC Holdings Co. Ltd., Markem-Imaje, Sensient Technologies Corporation, Colorcon, Inc., Fujifilm Specialty Ink System Ltd, and Marabu Group.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
An increase in the usage of pharmaceuticals and a rise in awareness among consumers regarding medicines are the major factors driving the pharmaceutical ink market growth. Also, the technological advancement in the manufacturing process of pharmaceuticals also creates growth opportunities for the key manufacturers in the pharmaceutical inks market to offer competitive product offerings and increase their customer base. This will have a positive impact on the global pharmaceutical ink market size.
The increase in usage of medicines has increased considerably across the globe in the past few years. This is relatively driven by the rise in health awareness among consumers and the rise in demand for pharmaceuticals in developing countries which directly increased the consumption of pharmaceuticals inks globally. Pharmaceutical inks are mainly used in medicines for printing or packaging of the medicine. Therefore, the rise in the usage of pharmaceuticals is driving the demand for pharmaceutical ink market value. The key players in the pharmaceutical ink market are strategically focused on a partnership strategy in order to capture market share in the global pharmaceutical market. For instance, in September 2018, Amyris, Inc. enters into a strategic agreement with Yifan Pharmaceutical Company in order to capture market share of the pharmaceutical inks market.
Pharmaceutical Inks Market Segmentation
The global pharmaceutical inks market segmentation is based on product type, pharmaceutical type, application, and geography.
Pharmaceutical Inks Market By Product Type
According to a pharmaceutical inks industry analysis, solvent-based pharmaceutical inks segment is expected to grow significantly in market over the forecasting years. These inks are also suitable for usage on the interior and exterior of the packaging. Additionally, solvent-based medicinal inks are less expensive than water-based inks. Water-based pharmaceutical inks are commonly used to print information such as the production date, the expiration date, the price, and the components.
Pharmaceutical Inks Market By Pharmaceutical Type
In terms of pharmaceutical types, the liquids segment accounted for the largest market share in 2021. This is owing to the fact that liquid drugs necessitate the use of a significant proportion of Pharmaceutical Inks to cover a bigger surface area of their package.
Pharmaceutical Inks Market By Application
According to the pharmaceutical ink market forecast, the exterior packaging segment is dominate the global market and is expected to grow significantly in the coming years. This growth is related to the high amount of information printed on the outside of medicine, which necessitates a considerable volume of pharmaceutical inks. The exterior wrapping of medicine contains important medical information such as the list of ingredients, manufacturing history, and instructions. Furthermore, since inside packaging contains less information than outside packaging, it requires less ink.
Pharmaceutical Inks Market Regional Outlook
The Middle East & Africa
North America Dominates The Global Pharmaceutical Inks Market
North America is predicted to lead the pharmaceutical inks market, followed by Europe and Asia-Pacific. The rise in consumption of pharmaceutical inks in exterior packaging and the increase in usage of the medicines industry are the key factors driving the demand for the regional pharmaceutical inks market. There is extensive usage of Pharmaceutical inks in the food & beverages industry in mainly North America and Europe region. Also, stringent government norms, increasing usage in the food & beverages industry, and incorporation of telematics in Pharmaceutical inks are the factors expected to drive the Pharmaceutical inks market in these regions.
Asia-Pacific is estimated to grow rapidly with higher CAGR due to the rise in health awareness and rapid urbanization. The key manufacturers in the global market are focused on the particular application of pharmaceutical inks. For instance, some companies are manufacturing pharmaceutical inks for interior packaging and others are specialized in capsules and exterior packaging. Also, the usage of aggressive solvents by manufacturers can have an adverse effect on the growth of the pharmaceutical inks market.
Pharmaceutical Inks Market Players
Some of the top pharmaceutical inks market companies offered in the professional report include Sun Chemicals, Koel Colours Pvt. Ltd., Videojet Technologies Inc., Toyo Ink SC Holdings Co. Ltd., Markem-Imaje, Sensient Technologies Corporation, Colorcon, Inc., Fujifilm Specialty Ink System Ltd, and Marabu Group.
The estimated value of global pharmaceutical inks market in 2021 was accounted to be USD 3,736 Million.
The projected CAGR pharmaceutical inks market during the analysis period of 2022 to 2030 is 6.1%.
The prominent players of the global pharmaceutical inks market are Sun Chemicals, Koel Colours Pvt. Ltd., Videojet Technologies Inc., Toyo Ink SC Holdings Co. Ltd., Markem-Imaje, Sensient Technologies Corporation, Colorcon, Inc., Fujifilm Specialty Ink System Ltd, and Marabu Group.
North America held the dominating pharmaceutical inks market during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for pharmaceutical inks market during the analysis period of 2022 to 2030.
Increasing utilization of medications and technological advancements in the drugs manufacturing process drives the growth of global pharmaceutical inks market.
Based on product type, water-based inks segment is expected to hold the maximum share of the pharmaceutical inks market.