Global pharmaceutical packaging demand is projected to advance six percent a year to reach a value of 112 billion USD in 2021, according to Freedonia’s latest study.
The 12th edition of the industry research firm’s Global Pharmaceutical Packaging report has identified ageing populations, rising levels of acute and chronic conditions, and new product introductions as driving demand.
Prefillable syringes will post the fastest gains of any pharmaceutical container, increasing nine percent a through 2021. Demand will be supported by expanding applications in the administration of critical care, emergency and self-injectable parenteral medication. Advances in biotechnology, nanotechnology and other advanced drug delivery technologies will increase the range of pharmaceuticals adaptable to this packaging.
Western Europe will continue to make up the greatest share of pharmaceutical packaging demand. Demand is spurred by the region’s large, advanced drug-producing industry that develops new packaging systems and introduces sophisticated therapies with specialized packaging needs.
Read more about challenges and opportunities in pharmaceutical labels and packaging in L&L issue 5, 2017, and here