Wanted: Innovative packaging for biotechnology products

Citing Research and Markets’ report, “The Future of the Pharmaceutical Packaging Industry—Emerging Economies Poised to Capitalize on Increasing Demand,” Pharmacychoice.com reports that the global pharmaceutical packaging market will show a 6.9% compound annual growth rate to reach a value of $68 billion by 2015.

istock_biotech
istock_biotech

The report notes, “The fastest growth in pharmaceutical packaging market is expected from prefillable syringes and parenteral vials, which will continue to expand as advances in biotechnology result in the introduction of new therapies that must be injected. The increasing demand for biologics will boost the demand for innovative product packaging solutions in the global pharmaceutical packaging market. Also, with more than $120 billion worth of drugs going off-patent in the next five years, generic drug manufacturers will emerge as a major segment driving demand for pharmaceutical packaging.”

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