This market research report presents a detailed segmentation of the global pharmaceutical packaging market by product type (blister packs, caps and closures, medication tubes, parenteral containers, plastic bottles, pouches, pre-fillable inhalers, and pre-fillable syringes) and by packaging material (glass, paper and paperboard, and plastic). It outlines the market shares of key regions such as APAC, North America, Western Europe, and ROW. The key vendors analyzed in this report are Bemis, Gerresheimer, Owens-Illinois, West Pharmaceutical Services, and Westrock.
Technavio’s market research analysts estimate the global pharmaceutical packaging market, to grow at a CAGR of around 6% between 2016 and 2020. North America is the key revenue-contributing region to the global pharmaceutical packaging market, occupying 35% of the overall market share. The demand for innovative forms of packaging in the country is propelled by stringent regulations by agencies such as the FDA.
The new market research report from Technavio provides a breakdown and analysis of the pharmaceutical packaging segments by technology.
“One of the latest trends gaining traction in this market is the rapid demand for pre-fillable syringes. These syringes offer several advantages such as minimization of drug waste, increasing useful product life, and convenience in drug administration and are integrated with advanced delivery systems such as pens and auto-injectors. Glass is the most popular packaging material for these syringes with the significant demand arising from the US and Europe,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
Plastic pharmaceutical packaging accounted for a market share of around 61% during 2015. Plastic is the most preferred packaging material as it is available in a variety of grades, has significant barrier properties, is chemically inert, and can be used to create attractive packages with esthetic appeal, which helps in the marketing and promotional activities for the drug. The grades of plastic used for packaging include PE, PP, polyolefin, PET, and PVC.
The leading vendors in the global pharmaceutical packaging market include Bemis, Gerresheimer, Owens-Illinois, West Pharmaceutical Services, and Westrock. The market is highly fragmented with several multinational, regional, and local vendors. The local players have been offering innovative solutions at a lower price compared to the international players, leading to price wars. The small and local vendors compete on the basis of cost, as it is difficult for them to compete with international vendors in terms of quality, features, and range of offerings. The report predicts international players to grow inorganically during the forecast period by acquiring regional or local players.
A more detailed analysis is available in the Technavio report, Global Pharmaceutical Packaging Market 2016-2020.
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