Technavio has published a new report on the global pharmaceutical contract packaging market from 2017-2021. (Graphic: Business Wire)
Technavio has published a new report on the global pharmaceutical contract packaging market from 2017-2021. (Graphic: Business Wire)
LONDON--(BUSINESS WIRE )--According to the latest market study released by Technavio, the global pharmaceutical contract packaging market is projected to grow to USD 7.05 billion by 2021, at a CAGR of nearly 15% over the forecast period.
This research report titled ‘Global Pharmaceutical Contract Packaging Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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Based on the type of packaging, the report categorizes the global pharmaceutical contract packaging market into the following segments:
The top three revenue-generating packaging segments in the global pharmaceutical contract packaging market are discussed below:
“In 2016, plastic bottles occupied a majority 34% of the pharmaceutical contract packaging market. The segment is expected to continue its lead due to the adoption of technologies such as digital printing, vision systems, and high-end packaging machinery,” says Sharan Raj, a lead analyst at Technavio for packaging research.
Plastic bottles are mainly used for packaging oral medications distributed in bulk to retail pharmacists. Alcan Packaging, a leading provider of contract packaging, has launched a new StabilitySolutions product line of plastic, which provides high resistance moisture and oxygen.
The adoption of blister pouches is swiftly increasing, with the segment projected to register a CAGR of close to 16% through 2021. The use of blister pouches in packaging medicines and small medical devices by the pharmaceutical industry minimizes production time and provides increased product protection.
The rising demand for tamper-evident and convenient packaging is the primary factor driving the projected growth of the market segment over the forecast period. Blister packaging also enhances shelf life and protects solid dose pharmaceuticals from oxygen, moisture, and odor.
“The pouches segment of the global pharmaceutical contract packaging market is projected to be worth nearly USD 1 billion by 2021. They are mainly used to provide aseptic packaging of pharmaceutical products,” says Sharan.
Pouches can be made from plastic resin films, paper, and aluminum foils; they provide high barrier properties and are available in a variety of grades such as peelable, non-peelable, plain, and gusseted. These packaging pouches are child resistant, senior friendly, and are autoclavable.
The top vendors highlighted by Technavio’s research analysts in this report are:
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 630 333 9501 UK: +44 208 123 1770 www.technavio.com
According to the latest market study released by Technavio, the global pharmaceutical contract packaging market is projected to grow to USD 7.05 billion by 2021, at a CAGR of nearly 15%.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 630 333 9501 UK: +44 208 123 1770 www.technavio.com