Growing Use of Disposable Medical Products to Significantly Augment Market Growth of Pharmaceutical Packaging Until 2020, Says Technavio

LONDON--()--According to the latest research study released by Technavio, the global pharmaceutical packaging market is expected to reach more than USD 84 billion in revenue by 2020.

This research report titled ‘Global Pharmaceutical Packaging Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all leading regions.

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“Pharmaceutical packaging products come in two major categories, namely primary and secondary packaging. These products are made of packaging materials such as plastic, glass, cardboard, aluminum foils, lead, tin, and wood. They are available in a variety of products such as bottles, blister packs, prefillable syringes and inhalers, vials, ampules, tubes, and pouches. Rise in easy self-medication procedures and over-the-counter (OTC) drugs is driving the growth of this market,” said Sharan Raj, one of Technavio’s lead analysts for packaging research.

“Major customers of pharmaceutical packaging solutions are pharmaceutical manufacturers, though certain packaging solutions are tailor-made for points of purchase pharmacies also,” added Sharan.

Global pharmaceutical packaging market by product type 2015 (% revenue share)

Plastic bottles 19.68%
Caps and closures 14.61%
Blister packs 13.70%
Prefillable syringes 8.95%
Parenteral containers 6.91%
Prefillable inhalers 3.03%
Pouches 2.85%
Medication tubes 1.93%
Other packaging 28.35%

Source: Technavio research

Top three segments of the global pharmaceutical packaging market:

  • Global plastic pharmaceutical packaging market
  • Electronic and smart lock
  • Sensors and detectors

Largest contributing segment: global pharmaceutical packaging market by plastic bottles

The global pharmaceutical packaging market by plastic bottles was valued at over USD 12 billion in 2015. Bottles will remain the most broadly used packaging type for oral medications distributed in bulk to retail pharmacists. This segment will also continue to dominate applications in OTC medicines sold in capsule and tablet form of 50 or more.

Plastic bottles are known to keep the composition of products unaltered in changing external conditions, thus preventing contamination. These bottles are made from rigid plastic high-density polyethylene (HDPE) polymers, and are customizable based on the needs of pharmaceutical companies. These containers are made of different types of resins, and are available in various sizes, colors, and shapes. They are also made using additives composed of antioxidants, impact modifiers, lubricants, stabilizers, and plasticizers.

Second largest contributing segment: global pharmaceutical packaging market by caps and closures

The global pharmaceutical packaging market by caps and closures was valued at over USD 9 billion in 2015. Caps and closures are essential components of pharmaceutical packaging that prevent product leakages and aid in tamper-resistant packaging, complying with regulatory authorities such as the Food and Drug Administration (FDA) in the US. These components are also used in child-resistant packaging for over-the-counter drugs, which require closures that are less than 20 millimeter in diameter.

Closures are of various types such as threaded ribbed closures, smooth wall closures, dropper tip caps, orifice reducers, and roll-on closures. Owing to their low cost, vendors sell these products in minimum bulk order to pharma companies.

Global pharmaceutical packaging market by blister packs

Blister packages have two elements, forming films and lidding elements. Forming films are usually made from polyvinyl chloride (PVC), and the lidding elements are made from a laminate of paper and foils, printed foils, or in some cases plastic. These packs have certain advantages over conventional modes of packaging, such as integrity of the product, patient compliance, trace evidence in case of tampers, and low probability of misuse. Blister packaging variants also assist in increasing the shelf life of products.

This type of packaging is preferred for lowering the cost of production by almost 10%, and even 50% in cases of over-the-counter drugs. It is a highly adopted solution in Europe, accounting for packaging of more than 85% of solid drugs in the region.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com

Release Summary

According to the latest research study released by Technavio, the global pharmaceutical packaging market is expected to reach more than USD 84 billion in revenue by 2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com