Lewes, DE -- (SBWire) -- 01/13/2016 --The research analyst predicts the global pharmaceutical packaging market to grow at a CAGR of around 6% during the forecast period. The rapid demand for pre-fillable syringes is the primary growth driver for this market. These syringes offer several advantages such as minimization of drug waste, increasing useful product life, and convenience in drug administration and are integrated with advanced delivery systems such as pens and auto-injectors. Glass is the most popular packaging material for these syringes with the significant demand arising from the US and Europe.
However, the growing number of counterfeit products in the market is anticipated to deter the market growth during the forecast period. According to studies by the WHO, the counterfeiting rate among prescriptions sold through suspicious websites is nearly 50%. Stringent regulations are being implemented by governments globally, to counter these risks. For instance, in Europe, under the new Anti-Falsification Directive, as of 2017, drugs that have been prescribed by doctors will have to be provided with a particular and unique code number, a feature that will represent that the packaging of the drug is new and authentic.
Packaging material segmentation and analysis of the pharmaceutical packaging market
- Glass pharmaceutical packaging
- Paper and paperboard pharmaceutical packaging
- Plastic pharmaceutical packaging
Plastic pharmaceutical packaging accounted for a market share of around 61% during 2015. Plastic is the most preferred packaging material as it is available in a variety of grades, has significant barrier properties, is chemically inert, and can be used to create attractive packages with esthetic appeal, which helps in the marketing and promotional activities for the drug. The grades of plastic used for packaging include PE, PP, polyolefin, PET, and PVC.
Geographical segmentation and analysis of the pharmaceutical packaging market
- APAC
- North America
- ROW
- Western Europe
North America dominated the market during 2015, accounting for a market share of around 35%. The pharmaceutical packaging market in North America is dominated by the US, which is a highly competitive market. The demand for innovative forms of packaging in the country is propelled by stringent regulations by agencies such as the FDA.
Competitive landscape and key vendors
The global pharmaceutical packaging market is highly fragmented with several multinational, regional, and local vendors. The local players have been offering innovative solutions at a lower price compared to the international players, leading to price wars. The small and local vendors compete on the basis of cost, as it is difficult for them to compete with international vendors in terms of quality, features, and range of offerings. The report predicts international players to grow inorganically during the forecast period by acquiring regional or local players.
The leading vendors in the market are -
- Bemis Healthcare Packaging
- Gerresheimer
- Owens-Illinois
- West Pharmaceutical
- Westrock
The other prominent vendors in the market include Air Packaging Technologies, Alexander, American Health Packaging, Aptargroup, Barger Packaging, Becton, Dickinson & Company, Cardinal Health, Catalent Pharma Solutions, CCL Industries, Clondalkin Group Holdings, Constantia Flexibles, CWS Packaging, Datwyler Pharma Packaging, EUROMEDEX, Global Closure Systems, Intrapac Group, Klockner Pentaplast Group, Korber, Menasha Packaging, Nampak, NNE, Nypro Packaging, RPC Group, Schott, Steripack, Vitro, and Winpak.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020
- What are the key factors driving the global pharmaceutical packaging market
- What are the key market trends impacting the growth of the pharmaceutical packaging market
- What are the challenges to market growth
- Who are the key vendors in this market space
- What are the market opportunities and threats faced by the vendors in the global pharmaceutical packaging market
- What are the factors influencing the market shares of APAC, North America, Western Europe, and ROW
- What are the key outcomes of the five forces analysis of the pharmaceutical packaging market
Spanning over 77 pages "Global Pharmaceutical Packaging Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market Landscape, Market segmentation by product type, Market segmentation by type of material, Market segmentation by packaging type, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/global-pharmaceutical-packaging-market-2016-2020
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