By 2013 the global Pharmaceutical Packaging Market is estimated to reach $62.3 billion U.S. China, India and other emerging markets, with an expected annual growth rate of over 11.5%, will likely take on an increasingly important role in the identification, development, packaging and distribution of new drugs.
Although the pharmaceutical industry has recognized the value packaging design; how it helps patients comply with medication requirements, meets regulatory requirements, and increases the attractiveness of the brand’s life and faced constant pressure. Pharmaceutical companies must continue to innovate in order to address strategic trends such as the treat of counterfeit drugs, cost management and environmental protection.
Freedonia Group’s analyst Bill Martineau has said that in the next few years the pharmaceutical packaging industry of developing countries will have their highest growth rate. Martineau explains that with the development of China’s export pharmaceutical packaging market, their domestic pharmaceutical industry will be gradually brought in line with the GMP standards of developed countries. India is also expected to show strong growth as their patent drug market and generics market is expanding. In addition, the expanding use of generic drugs will promote Brazil, Egypt, Hungary, Indonesia, Poland and South Korea’s pharmaceutical production and the related demand for pharmaceutical packaging.
By 2013 Western Europe, Japan and the United States will continue to be the leading markets in three major areas:
- Value-added packaging systems and new drug delivery vector.
- Biotechnology drugs and parenteral packaging (especially the small medicine bottles and prefilled syringes)
- Packaging that meets new regulations (that requires a unit dose, high barrier and anti-counterfeiting packaging) for all drug manufacturers, along with their related components