Estimated 6.7% CAGR In The Global Market For Pharmaceutical Packaging
By Liisa Vexler
According to a new report by MarketsandMarkets, the value of the pharmaceutical packaging market, a small fraction of the global packaging market, is predicted to reach about 78.79 billion US dollars by 2018, with a compound annual growth rate of 6.7%. Part of the reason for this is the recent change to more advanced and efficient types of packaging. The packaging market by type of drug delivery holds the largest share of the packaging market and is growing rapidly at a CAGR of 9.1%. Total market growth is expected to be stimulated by expansion in the generics market, drug off-patenting, and the rapid growth in the drug delivery market, with most growth in emerging economies such as India and China.
The dominant companies in the global pharmaceutical packaging market include Clondalkin Group Holdings B.V., Steripack Limited, Klockner Pentaplast Group, Catalent Pharma Solutions, Aptargroup, Wihuri Group, Rexam PLC, CCL Industries, and RPC Group PLC. The 424-page report is titled "Pharmaceutical Packaging Market by Packaging Type (Plastic bottles, Blister packs, Caps & Closures, Ampoules, Vials and Others), Raw Material (Plastics, Paper & Paperboard, Glass, Aluminum foils), and Drug Delivery Type – Global Trends & Forecast to 2018."
According to MarketsandMarkets, the report gives an overview of the world pharmaceutical packaging market and assesses the market by packaging type, packaging material, drug delivery type, and geography. It gives insights into the current market, describes prevailing trends, discusses important new topics, and gives a summary of the main influences on market growth. The report also assesses emerging challenges and opportunities. The research study includes an analysis of Porter's five forces and an analysis of market shares. Market dynamics, recent activity in the industry, and the competitive environment are all examined. The report also includes details of the major pharmaceutical packaging companies and finishes with detailed five-year forecasts.