London, 25 March 2015: Technavio, the independent tech-focused global research firm, has published a report on the Global Pharmaceutical Packaging Market 2015-2019, which is expected to grow at a CAGR of 5.9 percent during the period 2015-2019.
The Global Pharmaceutical Packaging market is extremely fragmented with the presence of several global vendors. Topmost companies occupy a major portion of the market with the rest being occupied by several international and regional vendors.
“Superior plastics such as high-density polyethylene, polyester, polypropylene, and cyclic olefins are increasingly being used as raw material in the construction of pharmaceutical packaging because of their excellent barrier properties,” says Faisal Ghaus, Vice President of TechNavio.
“Being halogen-free, they are also more environmentally friendly. HDPE is also highly suited to making plastic bottles because it is flexible, lightweight, and corrosion resistant.”
Key Market Drivers
- Increased Adoption of Pre-fillable Syringes
- Adherence to Stringent Regulatory Standards
- Increased Worldwide Consumption of Drugs
- Increased Use of Disposable Medical Products
- Increase in Disposable Income of People in Emerging Markets
Key Market Trends
- Rise in Demand for Vials and Ampules
- Integration with Protective Technologies
- Popularity of Superior Plastics as Raw Material
- Growth in Contract Manufacturing
- Increase in Demand for Blister Packs
- Growing Use of Child-resistant and Tamper-evident Packaging
Key Market Vendors
- Amcor Ltd.
- Bemis Healthcare Packaging Inc.
- Gerresheimer AG
- MeadWestvaco Corp.
- Owens-Illinois Inc.
- West Pharmaceutical Services Inc.
To define the market circumstances 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.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
