January 4, 2006 — /MARKET WIRE/ — CLEVELAND, Ohio — World pharmaceutical packaging demand is projected to increase 6.3 percent annually to over $30 billion in 2009. The developed countries of Western Europe, the US and Japan will continue to account for over 70 percent of demand. However, China will provide the strongest growth opportunities based on 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. Among other major developing economies, India and Brazil will also generate strong gains, although together they will continue to comprise only a relatively small percentage of the total world pharmaceutical packaging market in 2009. These and other trends are presented in “World Pharmaceutical Packaging,” a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
The US will remain the largest consumer of pharmaceutical packaging as its advanced drug-producing sector introduces new sophisticated therapies with specialized packaging needs. Growth in West European demand will reflect upgraded government standards requiring unit dose and high barrier packaging for many types of medication. An easing of government-imposed drug price controls will impact favorably on sales of pharmaceutical packaging in Japan, with demand rebounding from the depressed market conditions prevalent over the past decade.
Prefillable inhalers and prefillable syringes will generate the fastest growth opportunities among all pharmaceutical packaging products based on performance advantages in drug delivery. Plastic bottles will sustain the largest share of demand based on low cost, versatility, availability, and ongoing quality and design improvements. Expanding applications in both solid and liquid oral medications will create above average growth opportunities for these containers throughout the world. Pharmaceutical blister packaging will generate strong growth in global demand based on its adaptability to unit dose, clinical trial, compliance, institutional and over-the-counter drugs. The world market for pharmaceutical closures and accessories will grow 5.1 percent annually to $9.5 billion in 2009. Child-resistant, senior-friendly and dispensing closures; compliance-enhanced prescription containers; high visibility labels; and tamper-evident accessories will see the fastest gains.
Contact:
Corinne Gangloff
[email protected]
440-684-9600
SOURCE: Freedonia Group, Inc.