U.S. Pharmaceutical Packaging Market to Exceed $11 Billion in 2010
Tuesday May 16, 1:50 pm ET
CLEVELAND, OH--(MARKET WIRE)--May 16, 2006 -- Demand for pharmaceutical packaging products in the U.S. (including Puerto Rico) will increase 7.0 percent annually to over $11 billion in 2010. The strongest influences on growth will evolve from new regulations and standards that address such issues as patient drug compliance, drug dispensing errors, and drug counterfeiting and drug diversion. An increased focus on these issues will expand growth opportunities for high value-added containers, closures and accessories, especially blister packs, tamper-evident closures and RFID labels. These and other trends including market leaders and market share are presented in "Pharmaceutical Packaging," a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.
Demand for primary pharmaceutical containers will increase 8.0 percent annually through 2010. Prefillable inhalers and prefillable syringes will generate the fastest growth opportunities among all pharmaceutical packaging products based on safety and performance advantages in drug delivery. Plastic bottles will hold the largest share of unit demand based on low cost, versatility, availability, and ongoing quality and design improvements. Pharmaceutical blister packaging will post strong demand gains and maintain the largest share of revenues based on its adaptability to unit dose, clinical trial, sample, compliance, institutional and over-the-counter (OTC) container formats.
Demand for pharmaceutical packaging accessories will reach $2.3 billion in 2010, up 5.0 percent annually from 2005. RFID bar coded labels and accessories will post the fastest gains, benefitting from stricter government and industry standards aimed at preventing drug counterfeiting and drug diversion. The market for child-resistant, senior friendly and dispensing closures will increase favorably as pharmaceutical manufacturers adapt medication to high value-added containers and delivery systems.
Source: Freedonia Group, Inc.
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