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Article | December 31, 2005
Global pharmaceutical packaging to surpass $30 billion by 2009
“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,” reports The Freedonia Group in its new study World Pharmaceutical Packaging.
Pharmaceutical packaging demand is projected to rise 6.3% annually to more than $30 billion in 2009 with Western Europe the U.S. and Japan continuing to account for more than 70% of that. The report notes that “China will provide the strongest 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.” India and Brazil will also generate strong gains according to Freedonia’s study.
The fastest growth opportunities among all pharma packaging products will be prefillable inhalers and syringes. Plastic bottles will sustain the largest share of demand while solid and liquid oral meds will create above-average growth opportunities. Based on its adaptability to unit-dose clinical trial compliance institutional and over-the-counter drugs blister packs will generate strong global growth says the report.
Pharmaceutical closures and accessories are predicted to grow 5.1% per year to $9.5 billion in 2009. The fastest growth in this area notes Freedonia will come from child-resistant senior-friendly and dispensing closures compliance-enhanced prescription containers high-visibility labels and tamper-evident accessories. The 444-page report is available for $5. —Jim Butschli
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