Worldwide Growth for Pharmaceutical Packaging
Bolstered by growing Chinese demand, the world pharmaceutical packaging market is expected to climb 4% per year to reach $18.2 billion in 2005, according to a newly published study.
Demand in other drug-producing countries won't match that of China's where economic expansion and attraction of outside investment will boost the growth of its pharmaceutical industry and trigger a great need for pharmaceutical packaging, states the World Pharmaceutical Packaging study, published by The Freedonia Group Inc. (Cleveland).
Among package types, blisters will show the most growth, as the study projects worldwide demand to jump more than 6% annually to $4 billion in 2005. The strongest growth for blisters will be in Western Europe, but demand will increase across the globe because of relevance to unit-dose, clinical trial, compliance, over-the-counter, institutional, and sterile-drug packaging.
Plastic bottles will climb about 4% annually, thanks to their adaptability to standard and specialty applications, cost advantages, and favored status with herbal medicines, liquid pharmaceuticals, and large-quantity solid oral dosages.
Pouches and strip packs will also see about 4% growth based on adaptability to unit-dose and high-visibility applications. Other primary containers should see just over 3% growth, led by prefillable syringes and prefillable inhalers.
Demand for pharmaceutical closures and accessories should climb about 3% per year to reach $5.5 billion in 2005. Projected growth leaders in this sector include child-resistant/senior-friendly closures and plastic prescription vials. Secondary containers and labels are not expected to grow as much because of commodity status and limited pricing flexibility.
For more information contact Corinne Gangloff by e-mail at email@example.com or by phone at 440/684-9600.