- The key vendors in the Global Pharmaceutical Packaging Market 2014-2018 are Amcor Ltd., Gerresheimer AG, Owens-Illinois Inc., MeadWestvaco Corp. and Rexam PLC.
London, 21 October 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Pharmaceutical Packaging Market 2014-2018. One such trend is the increased outsourcing of pharmaceutical packaging. This helps the pharmaceutical companies in many ways such as reduced inventory, lower storage costs, and faster manufacturing. The overall market is expected to grow at a CAGR of 6.76 percent during the forecast period of 2013-2018.
Innovation in pharmaceutical packaging continues as the business becomes progressively aggressive and organizations drive for new product advances providing more convenience to their customers. Most packaging companies are not only manufacturing environmental friendly packaging materials but have also made changes in their packaging design and recycling procedures.
“With the implementation of Food and Drug Administration regulations providing that all prescription pharmaceuticals dispensed in hospitals and nursing homes are packaged in unit-dose formats with barcodes so as to reduce dispensing errors, blister packs sales in the Pharmaceutical industry have increased over the years,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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