One in three pharmaceutical products are packed in bottles, according to a new study which forecasts healthy year-on-year growth for the pharmaceutical packaging market in 2019.
Global pharmaceutical packaging demand topped $75bn USD in 2018, and the market is expected to grow by more than five per cent year-on-year in 2019, according to the report Pharmaceutical Packaging Market by Future Market Insights. The report also found that bottles are a big player in the industry.
“Bottles, with the current share of over a third of the market value, are envisaged to remain highly sought after as a type of packaging for pharmaceutical products. The report also highlights that packer bottles continue to represent higher popularity over liquid bottles.
“Furthermore, blisters, vials, and ampoules will remain the next most preferred types of pharmaceutical packaging, particularly driven by HDPE and LDPE,” it said.
The opportunities in emerging economies are another trend highlighted by the report, with China, India, and other countries across the Asia-Pacific region excluding Japan making “significant progress” over the past 20 years.
“The Chinese government has heavily invested in the construction of hospitals, clinics, and centers. This scenario will create multiple growth opportunities for pharmaceutical packaging manufacturers during the course of coming years,” the report said.
The Pharmaceutical Packaging Market report is accessible here.