Manufacturing News

2017 forecasts for pharmaceutical packaging industry

Business information provider GBI Research has released its “Pharmaceutical Packaging Industry – 2011 Yearbook”. The research provides information about the growing global pharmaceutical packaging industry as well as market forecasts up till 2017.

GBI Research estimates that the global pharmaceutical packaging market was worth $47.8 billion in 2010 and forecasts the market to grow at a CAGR of 7.3% from 2010–2017.

According to the information provider, the global pharmaceutical industry is currently recording rapid expansion, with advances in manufacturing processes, technology innovation and integration.

“Growth is likely to be high in emerging economies such as India and China, primarily on account of increasing generics and contract manufacturing activities,” the statement reads.

GBI Research states the fastest growing sector in the pharmaceutical packaging market is prefillable syringes and parenteral vials.

The sector will to continue to expand due to advances in biotechnology, which result in the introduction of new therapies that must be injected.

“The increasing demand for biologics will increase demand for innovative product packaging solutions in the global pharmaceutical packaging market,” the company said in the same statement.

“Also, with more than $142 billion worth of drugs going off-patent in the next five years, generic drug manufacturers will emerge as a major segment driving demand for pharmaceutical packaging.”

Pharmaceutical Packaging Industry – 2011 Yearbook

The research details the geographical distribution of pharmaceutical packaging manufacturers across emerging BRIC nations (Brazil, Russia, India and China) and indentifies key cost and developmental issues for the industry going forward.

The report provides analysis on the competitive landscape, including the benchmarking of top companies, as well as key trends analysis on mergers and acquisitions, and licensing agreements involving pharmaceutical packaging.

The report is complied from data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research.

For more information about the report, click here.

Image: National Resources

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