World Demand for Pharmaceutical Packaging to Exceed $100 Billion by 2019
World demand for pharmaceutical packaging will increase 6.5% annually to over $100 billion in 2019. Because of advanced and diverse drug-producing industries, almost 60% of global demand will reportedly come from the developed economies of Canada, Japan, the U.S., and Western Europe. India and China will form the fastest-growing markets due to rapidly expanding pharmaceutical manufacturing capabilities and the adoption of more stringent regulations aimed at improving the quality and integrity of domestically produced medicines. Russia, Turkey, Mexico, Iran, Argentina, and Brazil are among other developing markets that are expected to expand and diversify drug-producing industries and register above-average gains in pharmaceutical packaging demand. These and other trends are presented in “World Pharmaceutical Packaging,” a recent study from the Freedonia Group, Inc.
Global demand for primary pharmaceutical containers will expand 6.5% annually to $64 billion in 2019. Pre-fillable syringes and parenteral vials will see above-average growth. Plastic bottles will continue to record the largest demand, based on uses in bulk and prescription dose packaging. The world market for pharmaceutical pouches will grow at a slightly below-average pace as uses remain limited to the unit dose packaging of transdermal, powder, and topical medicines. By contrast, pre-fillable inhalers will reportedly post above-average demand gains.
Over the long term, the U.S. will continue to be the largest national pharmaceutical packaging market, as its advanced drug-producing sector commercializes new sophisticated therapies with specialized packaging needs. “Demand in Western Europe will remain comparatively high and expand steadily due to the impact of new product introductions and upgraded government standards covering unit dose, high barrier, and anti-counterfeit packaging of many types of medicines,” said Bill Martineau, analyst.
Based on broad contingents of proprietary and generic drug producers, Canada and Japan will reportedly continue to be significant consumers of a diverse array of pharmaceutical packaging products. However, both countries will see below-average growth in demand as drug makers pursue greater packaging efficiencies to offset medication pricing pressures.
For more information, visit www.freedoniagroup.com.