Pharmaceutical Packaging Market Research Reports, Industry Analysis and Trends
Pharmaceutical packaging involves the process of packaging for pharmaceutical companies; companies that manufacture medicines, vaccines, injections, and other pharmaceutical products that come under the category of pharmacy. Packaging for pharmaceutical industry is responsible for providing a safeguarding cover for a broad range of drugs and medical devices. Pharmaceutical packaging industry is broad that encompassed multi-faceted tasks such as packaging medical supplements that are liquid, solid, powdered packaged in a correct and appropriate dosages and that have resistance to harsh environment and pressure conditions. Packaging is an emerging science, and a discipline which will have a successful run alongside many mainstream industries.
Packaging is not limited to the stage of manufacturing; in pharmaceutical industry, it runs through R&D, operations, purchasing, marketing and other administrative departments of the company as majority of products produced in a pharmaceutical company, require the large supply of from packaging company for protection of materials, distribution and sale of the product which is always critical to the company and the consumer. As the pharmaceutical packaging market is constantly advancing and has experienced phenomenal growth every year, the demand and supply of pharmaceutical products has also increased.
The pharmaceutical packaging industry as the other types is increasingly growing due to the demand for speedy and reliable packaging solutions are increasing at a rapid rate. The value of pharmaceutical packaging market is estimated to be around $20 billion and projected to increase every year. With technology being the key factor of growth in packaging, pharmaceutical packaging industry is constantly innovating with new age packaging solutions such as, blow fill seal vials (BFS), plasma impulse chemical vapour dispenser (PICVD) coating technology, snap off ampoules, unit dose vials, two-in-one prefilled vial designs, prefilled syringes, child-resistant packs and anti-counterfeit measures have direct positive impact on the packaging industry as the combination of product protection, quality maintenance, tamper proof, patient comfort and security needs are vital to the growth of the pharmaceutical packaging industry.
Pharmaceutical Packaging Current Trends
The global pharmaceutical packaging market is expected to witness a significant push due to the increasing demand in biologics. Advances in biotechnology have given a rise in innovation and introduction of new therapies and treatments such as demands in pre-fillable syringes and various vials have propelled the market to foresee a healthy increase in market value. As any industry focuses on expansion and reaches to the larger consumer base of products, pharmaceutical packaging industry is experiencing a similar pattern with new emerging companies established in Asian countries including India and China which have registered a maximum growth potential. Although availability and price of raw materials and changing health regulations is deterring growth of pharmaceutical packaging industry market, the challenges are however seemed to be overcome and improve with better infrastructure and efficient management.
The pharmaceutical industry has strict and stringent packaging requirements and protocols that must be adhered to as the pharmaceutical products such as drugs and equipments can help or harm, so the focus lies on packaging machinery with accurate record keeping and necessary processes. The global pharmaceutical packaging market is expected to reach the value of US $85 billion by 2017 at 8% CAGR. There is an increasing demand for biologics that will strengthen the demand for innovative product packaging solutions in the global pharmaceutical packaging market. All these factors, along with the growing pharmaceutical industry, will continue to drive demand for packaging. Currently, there is a push from the pharmaceutical companies to packaging machinery manufacturers to produce machinery that can easily and quickly perform tasks and produce efficient products.
Major Pharmaceutical Packaging Players
Major players in pharmaceutical packaging industry are, Amcor, MeadWestvaco, Rexam, Kimble Chase, Fraport, GAGFAH, Südzucker and Gerresheimer