Core Viewpoint - The pharmaceutical packaging service market is driven by the trend of asset-light operations in the pharmaceutical industry, particularly among small and medium-sized biotech firms and startups, which outsource terminal processes to focus resources on drug development [3]. Group 1: Market Overview - Pharmaceutical packaging services encompass the entire or partial packaging process for pharmaceutical companies, including initial packaging, secondary packaging, labeling, repackaging, and logistics management [1]. - The market for pharmaceutical packaging services in China is projected to reach $20.35 billion by 2031, with a compound annual growth rate (CAGR) of 5.3% in the coming years [5]. - The independent third-party packaging service companies currently hold the largest market share at 50.87% [8]. Group 2: Industry Drivers - The increasing stringency of global pharmaceutical regulations, such as serialization and anti-counterfeiting requirements, is driving demand for packaging services, as companies seek to achieve compliance and reduce operational risks [3]. - The need for supply chain resilience has become more pronounced in the post-pandemic era, prompting companies to outsource packaging to achieve flexibility and geographic diversity in production capacity [3]. Group 3: Service Providers - The pharmaceutical packaging services are typically provided by three types of suppliers: CDMO companies, in-house packaging departments of pharmaceutical firms, and independent third-party packaging service companies [1]. - In 2024, the top three manufacturers in China are expected to account for approximately 63.0% of the market share [7]. Group 4: Application and Trends - Clinical drugs are the primary source of demand for packaging services, accounting for 60.12% of the market [11]. - There is a noticeable trend towards technological integration and service upgrades, with packaging services increasingly incorporating digital solutions such as serialization systems and IoT monitoring [3].