Global pharmaceutical packaging demand to exceed $34 billion in 2011

Developed countries in Western Europe, the United States, and Japan will account for nearly three-fourths of the demand for worldwide pharmaceutical packaging. The Freedonia Group projected this demand to increase 5.9% per year to more than $34 billion in 2011. In its new study, World Pharmaceutical Packaging, Freedonia notes that China will provide the strongest growth opportunities, while India and Brazil “will evolve into fast-growing pharmaceutical packaging markets as drug-producing sectors are upgraded and diversified,” especially generic drugs.

Among other findings in the report were the following:
• Easing government-imposed drug price controls and export growth will boost pharmaceutical packaging sales in Japan.
• Prefillable inhalers and prefillable syringes will generate opportunities based on benefits in drug delivery and the introduction of bio-engineered medicines. These will help increase global demand for primary pharmaceutical containers 6.5% annually through 2011 to nearly $24 billion.
• The world market for pharmaceutical closures and accessories will grow 4.5% per year to $10.6 billion in 2011, with the largest gains in child-resistant, senior-friendly, and disposing closures.
The 515-page report is available from The Freedonia Group for $5,800 by contacting Corinne Gangloff at 440/684-9600, or by e-mailing pr@freedoniagroup.com.
Source: healthcare-packaging