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Pharmaceutical Packaging Market Research | Industry Analysis | Application | Supplier 2016-2020
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Pharmaceutical packaging provides protection, identification information, containment and keep them free from contamination for a product during storage, carriage, displays and until the product is consumed. Packaging of pharmaceutical products is necessary, which provide protection against climatic conditions biological, physical and chemical hazards. The pharmaceutical package must ensure adequate stability of the product throughout the shelf life. Pharmaceutical packaging offers protection of drug product, guarantee of product quality and comfortable and safe to patient or administers.
The major driving factor for pharmaceutical packaging market is rapidly expanding generics market and increasing drug delivery market coupled with increasing investment in healthcare facilities and demand for advanced packaging. Rising subsequent development of anti-counterfeiting drug packaging technologies and products is expected to boost the demand for pharmaceutical packaging in the years to come. However, availability of raw materials and volatility in the price of raw materials is expected to be major restraint of the market. Health regulations and scrutinizing healthcare organisations are expected to hamper the market growth over the forecast period.
On the basis of product type, pharmaceutical packaging market can be segmented as plastic bottles, parenteral containers, blister packaging, other primary packaging, closures, labels and others. Plastic bottles dominated the global pharmaceutical packaging market due to the increased demand in North America and Western Europe. This segment accounted for over 20.0% share of total market and is expected to be the fastest growing segment of pharmaceutical packaging market during the forecast period. Parenteral containers market is expected to show strong demand over the forecast period. Closures are another key product segment accounted for 14.0% market share in 2014. Blister packaging, other primary packaging, closures, labels and others are expected to witness fastest growth over the forecast period.
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North America was the leading region for pharmaceutical packaging market and accounted for 30.0% share of the total market 2014. Emergence of packaging companies in China and India owing to low manufacturing costs is anticipated to strengthen the Asia Pacific market in terms of production. Asia Pacific is expected to account for over 23.0% of the market by 2020. Demand for pharmaceutical packaging from Latin America and Middle East & Africa is anticipated to grow during the forecast period.
Some of the key players include in pharmaceutical packaging market such as MeadWestvaco Corporation, Schott AG, Amcor Ltd., Rexam PLC, Gerresheimer AG , Becton Dickinson, NYPRO Inc., Vitro, S.A.B. De C.V., Datwyler Holding Inc and Aptargroup, Inc.
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