Global Pharmaceutical Packaging Demand to Grow 6.0% Annually Through 2021
Global pharmaceutical packaging demand is projected to advance 6.0% per year to $112 billion in 2021. Aging populations, rising levels of acute and chronic conditions, and new product introductions will drive demand. These and other trends are presented in “Global Pharmaceutical Packaging, 12th Edition,” a new study from The Freedonia Group, freedoniagroup.com a Cleveland-based industry research firm.
Prefillable syringes will post the fastest gains of any pharmaceutical container, increasing 9.0% per year 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.