Albany, New York, USA (PRWEB) October 18, 2013
According to a new market report published by Transparency Market Research "Global and U.S. Pharmaceutical Packaging (Plastic Bottles, Parental Containers, Blister, Closures, Labels and Others) Market for Manufacturing and Contract Packaging-Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global pharmaceutical packaging market was valued at USD 50.07 billion in 2011 and is expected to be USD 73.04 billion by 2018, growing at a CAGR of 5.6% from 2012 to 2018.
Browse the full report with Complete TOC at http://www.transparencymarketresearch.com/pharmaceutical-packaging-market.html.
Development of innovative packaging that provides a combination of product protection, quality, security, tamper evidence and visual appeal to enhance consumer consumption and reduce counterfeiting and other malpractices is expected to boost the market within the forecast period. Furthermore, implementation of numerous stringent regulations by authorized agencies such as Healthcare Compliance Packaging Council (HCPC), National Quality Forum (NQF) and Food and Drug Administration (FDA) for pharmaceutical packaging is expected to contribute to the growth of the market over the next few years. However, availability and volatility in the prices of raw materials is expected to hamper the growth of the market. A shift towards nano enabled pharmaceutical packaging and a growing demand from developing countries such as China, Brazil and India are expected to open new opportunities for growth of this market.
Plastic bottles were the largest product segment of pharmaceutical packaging accounting for over 20% of the market in 2011. However, parental containers are expected to be the fastest growing product segment due to introduction of new injected therapies on account of advancements in biotechnology.
Demand for pharmaceutical packaging was highest in North America and Europe, together accounting for over 60% of the market in 2011. However, Asia Pacific is expected to show the fastest growth over the forecast period on account of increasing government initiatives, growing contract manufacturing activities and ageing population. The market in Asia Pacific is expected to reach USD 20.63 billion by 2018.
Key participants in the pharmaceutical packaging market include Amcor, Gerresheimer AG, Becton Dickinson, MeadWestvaco, Rexam PLC, West Pharmaceutical Services, 3M and Tear and Tape among others. The report profiles the above mentioned companies along with their detailed market share analysis.
Related Report: Aseptic Packaging Market
This pharmaceutical packaging market has been recording rapid expansion, with advances in manufacturing processes and technology innovation in recent times. Pre-filled syringe is expected to be one of the fastest growing segments based on the introduction of new bio-engineered medicines and the performance advantages in drug delivery system. The various packaging products in this industry have to be in compliance with stringent regulations and policies enforced by the government.
This market research report provides complete analysis on pharmaceutical packaging and estimates its global demand from 2012 to 2018, based on revenue (USD million). This report elucidates in detail the drivers and inhibitors affecting the pharmaceutical packaging market demand along with the opportunities present and available over the coming few years. The study provides in detail analysis of the raw materials in terms of their current prices, properties, future price trend and their global market share.