Western Europe, the U.S., and Japan will account for more than 70% of pharmaceutical packaging demand that will drive a 5.5% annual expansion to $62 billion in 2015. That’s the forecast from World Pharmaceutical Packaging, a new study from The Freedonia Group, Inc.
China, says Freedonia, will provide faster 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 evolve into fast-growing pharmaceutical packaging markets as drug-producing sectors are upgraded and diversified.
Growth in West European demand will reflect upgraded government standards requiring unit-dose, high-barrier, and anti-counterfeit packaging for various medications. Based on its broad range of proprietary and generic drug producers, Japan will remain a large, diverse consumer of pharmaceutical containers, closures, and related accessories. However, Freedonia notes the country will provide below-average growth opportunities as drug makers pursue greater packaging efficiencies to offset pricing pressures.
