NEWS
Global pharm packaging to reach $62 billion by 2015
TIANBAI PLASTIC NEWS REPORT
Global demand for pharmaceutical packaging is forecast to expand 5.5 percent annually to $62 billion in 2015, according to a new report from Cleveland-based Freedonia Group Inc.
Western Europe, the United States and Japan will account for more than 70 percent of the total, although faster growth is expected in China thanks to "rapidly expanding pharmaceutical manufacturing capabilities and the phasing-in of an extensive government program designed to upgrade the quality and integrity of nationally produced medicines,Freedonia said in a news release.
India and Brazil also will offer fast-growing pharmaceutical packaging markets.
The fastest growth is anticipated for prefillable syringes and vials, which will expand with advances in biotechnology. Plastic bottles will remain the most widely used package for oral drugs distributed in bulk and prescription dose volumes to retail and mail order pharmacies. Blister packaging will comprise the second-largest selling group of primary pharmaceutical containers.
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