- June 29, 2011
CLEVELAND, OH | According to industry market research firm Freedonia Group’s new study, “World Pharmaceutical Packaging,” demand for pharmaceutical packaging products will expand 5.5% annually to $62 billion in 2015.
A summary of the report explains, “Reflecting the operation of extensive and diverse drug-producing industries, the developed countries of Western Europe, the US, and Japan will account for over 70% of this amount. However, China will provide faster growth opportunities based on rapidly expanding pharmaceutical manufacturing capabilities and the phasing-in of an extensive government program designed to upgrade the quality and integrity of nationally produced medicines.” Also developing into fast-growing pharmaceutical packaging markets will be India and Brazil as these countries drug-producing sectors upgrade and diversify.
The study notes the US will remain the largest consumer of pharmaceutical packaging as new sophisticated therapies are introduced along with specialized packaging needs. West European demand will reflect upgraded government standards that require unit dose, high barrier, and anti-counterfeit packaging for many types of medications. Japan will continue to consume a large diversity of pharmaceutical containers, closures, and related accessories based on its broad range of proprietary and generic drug producers; however, the report expects below-average growth opportunities here as drug makers will likely purse greater packaging efficiencies to offset pricing pressures.
Also revealed is the demand for primary pharmaceutical containers increasing 5.6% annually to almost $39 billion in 2015. With plastic bottles being the preferred packaging for oral drugs distributed in bulk and prescription doses, blister packaging will be the second most preferred packaging because of unit dosing capabilities and clinical trial formats with expanded label content, high visibility, and built-in track and trace features.