Drug Packaging Demand to Reach $62.3 Billion Globally
Worldwide demand for pharmaceutical packaging is projected to increase 6.3% each year to reach US$62.3 billion in 2013, reports The Freedonia Group in a new study. The United States will remain the largest consumer of pharmaceutical packaging as its advanced drug-producing sector introduces new sophisticated therapies with specialized packaging needs, the report claims.
Demand for primary pharmaceutical containers will increase 6.1% annually through 2013 to $38.2 billion. Prefillable inhalers and prefillable syringes will experience the fastest growth among all drugs, Freedonia predicts, based on performance advantages in drug delivery and emerging bioengineered medicines.
As expected, plastic bottles continue to garner the largest share of global demand. Blister packaging demand will grow, too, given adaptability to unit-dose, clinical trial, compliance, institutional, and over-the-counter drugs. Markets for pouches and strip packs will also expand.
Injectable therapies based on biotechnology will push up demand for parenteral vials and and ampules, but at a lesser extent than above-mentioned formats, Freedonia predicts. “World demand for medication tubes and glass bottles and jars will expand at a below-average pace due to competition from alternative containers,” the study claims.
Western Europe, the United States, and Japan will continue to account for more than 60% of demand, whereas China will offer strong 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,” Freedonia says. India and Brazil are other markets to watch.
These and other trends are presented in World Pharmaceutical Packaging, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.