A new study predicts the world demand for pharmaceutical packaging products will increase 6.5 percent annually to over $100 billion in 2019.
The study, World Pharmaceutical Packaging, released by The Freedonia Group, analyzed the global market for pharmaceutical packaging containers, closures, and accessories.
They also found that while almost 60% of global demand will come from the developed economies of Canada, Japan, the US, and Western Europe; India and China will be the fastest growing markets due to rapidly expanding pharmaceutical manufacturing capabilities and the adoption of more stringent regulations aimed at improving the quality and integrity of domestically produced medicines.
In addition, among primary pharmaceutical containers, prefillable syringes and parenteral vials will see above average growth as new injectable therapies developed through biotechnology and other advanced life sciences are introduced into the marketplace.
