Global Pharmaceutical Packaging Industry to Record Growth with Rapid Expansion in the Global Pharmaceutical Industry
Add bookmarkPharmaceutical Packaging Industry, Revenue Forecasts, 2010–2017
Source: GBI Research, Company Annual Reports
The global pharmaceutical packaging market was valued at $47.8 billion in 2010. The market is forecast to grow at a compound annual growth rate (CAGR) of 7.3% from 2010–2017, to reach a value of $78 billion by 2017. The global pharmaceutical industry is currently registering rapid expansion, with advances in manufacturing processes, and technology innovation and integration, which are the main factors behind the growth of the pharmaceutical packaging industry globally. This growth is expected to be highest in the emerging economies of India and China, primarily on account of increasing generics and contract manufacturing activities in these countries.
Pharmaceutical Packaging Industry Will Overcome Challenges to Record High Growth Rates in the Future
Pharmaceutical Packaging Industry, Growth Drivers and Barriers, 2011
The pharmaceutical packaging industry will continue to grow as drugs worth $142 billion go off-patent in the next five years, expanding the generic market and the entire pharmaceutical packaging industry. The fastest growth in the pharmaceutical packaging market is expected to come from prefillable syringes and parenteral vials, which will continue to expand as advances in biotechnology lead to the introduction of new therapies that must be injected. The increasing demand for biologics will strengthen demand for innovative product packaging solutions in the global pharmaceutical packaging market.
Increasing Demand for Drug Delivery Devices and Blister Packaging Will Strengthen the Growth of the Pharmaceutical Packaging Industry
Plastic bottles emerged as the largest revenue generating segment for the pharmaceutical packaging industry in 2010, recording annual revenues of approximately $9.5 billion. This was closely followed by blister packaging and drug delivery devices, which generated revenues of $8.1 billion and $6.6 billion, respectively, in 2010. Other important segments in the pharmaceutical packaging industry were labels, accessories and other containers.
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Developing Nations to Take Advantage of Increasing Demand for Pharmaceutical Packaging
The global pharmaceutical packaging market is dominated by the US, with a market share of 37% in 2010. This was followed by Western Europe and Asia Pacific, with market shares of 33% and 30%, respectively, in 2010. However, this trend is likely to change in the future as Asia Pacific is poised to grow faster than Europe and the US. Over the next five years, the Asia Pacific market is expected to grow by more than 10%, while Western European and the US markets will grow at 6% and 4%, respectively.
About This Report:
GBI Research’s new report, “Pharmaceutical Packaging Industry - 2011 Yearbook”, provides insights into the global pharmaceutical packaging market, with coverage of the market landscape, key market trends, market drivers and restraints. The report provides market forecasts for the global pharmaceutical packaging industry until 2017. The geographical distribution of pharmaceutical packaging manufacturers across key geographies, such as the US, the top five countries in the European region, Japan and BRIC (Brazil, Russia, India and China) countries are also provided. Key cost and developmental issues are also addressed. The report provides an in-depth analysis of the competitive landscape, including the benchmarking of top companies, key trends on mergers and acquisitions, and licensing agreements involving pharmaceutical packaging.
To purchase this report go to http://b2b.pharma-iq.com/event.cfm?eventID=228
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