LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global pharmaceutical contract packaging market is projected to grow to USD 7.05 billion by 2021, at a CAGR of nearly 15% over the forecast period.
This research report titled ‘Global Pharmaceutical Contract Packaging Market 2017-2021’ provides an in-depth analysis of the market 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 geographical regions.
|Pharmaceutical contract packagers handle pharmaceutical based packaging. They offer flexibility to manufacturers in handling complex packaging services. Currently, the global pharmaceutical contract packaging market is driven by the rising implementation of innovative packaging solutions to address environmental concerns and changing consumer preferences.|
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Based on the type of packaging, the report categorizes the global pharmaceutical contract packaging market into the following segments:
- Plastic bottles
- Blister bottles
- Parenteral containers
- Pre-filled syringes
The top three revenue-generating packaging segments in the global pharmaceutical contract packaging market are discussed below:
“In 2016, plastic bottles occupied a majority 34% of the pharmaceutical contract packaging market. The segment is expected to continue its lead due to the adoption of technologies such as digital printing, vision systems, and high-end packaging machinery,” says Sharan Raj, a lead analyst at Technavio for packaging research.
Plastic bottles are mainly used for packaging oral medications distributed in bulk to retail pharmacists. Alcan Packaging, a leading provider of contract packaging, has launched a new StabilitySolutions product line of plastic, which provides high resistance moisture and oxygen.
The adoption of blister pouches is swiftly increasing, with the segment projected to register a CAGR of close to 16% through 2021. The use of blister pouches in packaging medicines and small medical devices by the pharmaceutical industry minimizes production time and provides increased product protection.
The rising demand for tamper-evident and convenient packaging is the primary factor driving the projected growth of the market segment over the forecast period. Blister packaging also enhances shelf life and protects solid dose pharmaceuticals from oxygen, moisture, and odor.
“The pouches segment of the global pharmaceutical contract packaging market is projected to be worth nearly USD 1 billion by 2021. They are mainly used to provide aseptic packaging of pharmaceutical products,” says Sharan.
Pouches can be made from plastic resin films, paper, and aluminum foils; they provide high barrier properties and are available in a variety of grades such as peelable, non-peelable, plain, and gusseted. These packaging pouches are child resistant, senior friendly, and are autoclavable.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Sharp Packaging Services
- Summit Container
- Unicep Packaging
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