Pharmaceutical packaging products to hit $90bn in 2017

World demand for pharmaceutical packaging products will increase 6.4% annually to $90 billion in 2017, the Freedonia Group has predicted.

Almost 65% of global demand will exist in the developed economies of Canada, Japan, the US and western Europe, Freedonia says, while India and China will form the fastest growing markets due to rapidly expanding pharmaceutical manufacturing and the adoption of more stringent regulations.

Freedonia has detailed these and other trends in its World Pharmaceutical Packaging study.

The study also shows that the US will continue to form the largest national pharmaceutical packaging product market over the long term as is develops new therapies requiring specialised packaging. Western European demand will remain high and expand steadily due to new products and stricter government standards for unit dose, high barrier and anti-counterfeit packaging.

Canada and Japan will continue to be large, diverse consumers of pharmaceutical packaging products, but will see below-average demand growth as drug makers pursue packaging efficiencies to offset medication pricing pressures, Freedonia predicts.

The full report is available via the Freedonia Group website: www.freedoniagroup.com.