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Global Pharmaceutical Packaging Market is Expected to Reach USD 73.04 Billion in 2018: Transparency Market Research
Date:9/4/2013

Albany, New York (PRWEB) September 04, 2013

According to a new market report published by Transparency Market Research, "Global and U.S. Pharmaceutical Packaging (Plastic Bottles, Parental Containers, Blister, Closures, Labels and Others) Market for Manufacturing and Contract Packaging-Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global pharmaceutical packaging market was valued at USD 50.07 billion in 2011 and is expected to be USD 73.04 billion by 2018, growing at a CAGR of 5.6% from 2012 to 2018.

Browse the full report with TOC at http://www.transparencymarketresearch.com/pharmaceutical-packaging-market.html.

Development of innovative packaging that provides a combination of product protection, quality, security, tamper evidence and visual appeal to enhance consumer consumption and reduce counterfeiting and other malpractices is expected to boost the market within the forecast period. Furthermore, implementation of numerous stringent regulations by authorized agencies such as Healthcare Compliance Packaging Council (HCPC), National Quality Forum (NQF) and Food and Drug Administration (FDA) for pharmaceutical packaging is expected to contribute to the growth of the market over the next few years. However, availability and volatility in the prices of raw materials is expected to hamper the growth of the market. A shift towards nano enabled pharmaceutical packaging and a growing demand from developing countries such as China, Brazil and India are expected to open new opportunities for growth of this market.

Plastic bottles were the largest product segment of pharmaceutical packaging accounting for over 20% of the market in 2011. However, parental containers are expected to be the fastest growing product segment due to introduc
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