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| home > pmps > spring 2002 > world pharmaceutical packaging products demand to reach us$18.2 billion in 2005 |
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Pharmaceutical Manufacturing and Packing Sourcer
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Global demand for pharmaceutical packaging products will increase at a rate of four per cent annually to US$18.2 billion in 2005. Growth will partially reflect steadily expanding medication consumption, which is attributable to ageing demographic patterns and changing health care approaches throughout most of the world. Intensifying multiple source competition will also impact favourably on demand by prompting drug makers to rely more heavily on packaging as a means of achieving product differentiation.
Other positive influences on world pharmaceutical packaging demand will reflect technological innovations and regulatory changes. The continuing introduction of new drugs, biologicals and medication delivery systems - based on biotechnology, polymeric compounds and other advanced processes or materials - will boost niche opportunities for several speciality containers, closures and related accessories. Regulatory trends in the US, Western Europe and several other countries will permit an increasing number of prescription medicines to be sold in non-prescription formulations. These switches will impact favourably on the demand for high value-added packaging products - especially blister packs, high visibility labels and other items which enhance perceived marketing value.
The same factors which will have a favourable impact on global pharmaceutical packaging opportunities will also serve to moderate potential demand. The introduction of advanced bioengineered and polymeric drugs will indirectly reduce overall worldwide pharmaceutical packaging requirements by allowing an increasing number of patients to be treated effectively with less medication. Advancing technology will also enable several parenteral medicines to be reformulated into oral, topical or respiratory preparations. This trend will reduce worldwide demand for parenteral containers, closures and accessories.
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By William Martineau, Research Analyst for the Freedonia Group William Martineau is an authority on the health care industry. He has performed in-depth research in areas of biotechnology, pharmaceuticals, drug delivery, medical packaging and other related areas, as well as producing titles such as Pharmaceutical Packaging, World Pharmaceutical Packaging, Drug Delivery Systems, and World Health Care. William was formerly Manager of Market Development at American Sterilizer Company, where he gained experience in health care research and strategic planning. At Invenex Laboratories, he served as Product Manager responsible for the administration of a line of injectable pharmaceuticals. He also served as Senior Health Care Analyst at Predicasts Inc., and Manager of Market Research at Life Technologies Inc. (a division of The Dexter Corporation). William has a BA in Management and an MBA in Marketing and Finance from Kent State University. |
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