Pharmaceutical Packaging Market is expected to rise to US$73.04 billion

Business

The global market for pharmaceutical packaging is evaluated in a recent market study published by U.S.-based market intelligence firm Transparency Market Research. The report is titled “Global And U.S. Pharmaceutical Packaging Market – Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018”.The global and U.S. pharmaceutical packaging market is expected to develop at a positive, albeit moderate, CAGR of 5.6% between 2012 and 2018.

The report states that the market is expected to rise to US$73.04 billion by 2018 as compared to the market valuation of US$50.07 billion in 2011.The report offers detailed insights into the pharmaceutical packaging market from a global perspective, with a particular focus on the U.S. regional market, and provides forecasts based on current statistics, a number of industry-best analysis tools, and expert analysis.

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The report states that the regional market of Asia Pacific will play a crucial role in sustaining the overall growth prospects of the global pharmaceutical packaging market owing to factors such as a rise in contract manufacturing, the flourishing pharmaceutical industry, and the rising geriatric population in this region. The global pharmaceutical packaging market is also expected to benefit from technological advancements such as the introduction of nano-enabled packaging, the packaging type that currently provides the most enhanced barrier properties against moisture, light, and mechanical forces.The report broadly segments the global pharmaceutical packaging market based on two criteria: product types and key regional markets. The segmentation by product types includes parenteral containers, plastic bottles, blister packaging, closures, other primary packaging, and labels. Geography-wise, the market is segmented into North America, Europe, and Asia Pacific.

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Of the key product types of pharmaceutical packaging studied in the report, the product segment of plastic bottles held the largest market share, nearly 20% in 2011. During the report’s forecast period, however, the product segment of parenteral containers is expected to witness growth at the fastest pace, owing to the introduction of better injected therapies in the market.Geography-wise, the regional market of North America held nearly 30% of the global pharmaceutical packaging market, owing to huge demand from the flourishing pharmaceutical markets in Canada and the U.S. During the forecast period, Asia Pacific is expected to acquire a major share in the global market and come up as the leading regional market for pharmaceutical packaging by 2018.

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