NEW YORK — The global market for drug packaging is expected to experience tremendous growth over the next few years, according to a new report.
The report, published by Transparency Market Research, found that it would grow from 2011's $50.07 billion to $73.04 billion by 2018, with North America and Europe accounting for 60% of demand. The report looked at plastic bottles, parental containers, blister packs, closures, labels and others. Companies that manufacture pharmaceutical packaging include Amcor, Gerresheimer, BD, MeadWestvaco, Rexam, West Pharmaceutical Services, 3M and Tear and Tape, among others.
Plastic bottles were the largest product segment, accounting for more than 20% of the market in 2011, but parental containers are expected to grow fastest due to the introduction of new injected therapies on account of advancements in biotechnology.