Pharmaceutical Container Market: Introduction
The scope and definition of pharmaceutical containers market includes revenue from packing materials used for protecting, storing, organizing, transporting of pharmaceutical products. Pharmaceutical bottles are packaging systems specifically designed to meet the packaging requirements for pharmaceutical substances such as tablets, capsules, solutions & suspensions, sterile injectable and others, whereas vials are small containers that are mainly used to certify that patients take their dosage of drug in a precise quantity with timely manner. Plastic bottles and vials play vital role in growth of pharmaceutical container market globally.
Ease of storage, accurate dosing, and ease of disposal is driving the demand for pharmaceutical container market
Plastic bottle accounts for the significant share of the pharmaceutical container market due to the low cost, durability, and versatility. Plastic bottles are cheaper to produce, easier to replace, and convenient to transport to long distances, hence driving the demand of pharmaceutical container market. Whereas vials ensure precise dosages which helps patients prefer self-administration of the medicine and are without any formal medical training. Owing to its manufacturing and formulation design, ampoules and vials can be stored easily due to its crack resistant covering/shield in which it is stored and transported. Therefore escalating the need of pharmaceutical containers market. Technological advancement in the pharmaceutical industry will impact positively in the growth of pharmaceutical containers market.
Moreover, demand for parenteral is strongly correlated with immunization. Vaccination plans such as Global Vaccine Action Plan (GVAP) 2011–2020, National Vaccine Plan (NVP) by U.S., which are introduced by the government on regular intervals to eradicate health issues such as hepatitis, polio etc., are expected to further fuel the demand for parenteral packaging thus driving pharmaceutical containers market.
Tepid demand from complementary and alternative medicines can hamper the market growth
Complementary and alternative medicines is gaining wide prominence among users. Alternative treatment such as Homeopathy and Ayurveda has captured significant share in overall healthcare treatment market which can affect the pharmaceutical container market negatively. For instance,
- As per the WHO estimates, ayurveda market was valued at US$ 118 Mn in 2015 and is forecast to grow at an average of 10% to 15% between 2015 and 2026.
Increasing alternative therapies could pose a challenge to overall pharmaceutical container market, especially in developing countries of Asia Pacific such as India and China. In addition to this, increasing counterfeiting of pharmaceutical products can impact on the growth of pharmaceutical container market.
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Pharmaceutical Container Market: Segmentation
On the basis of product, pharmaceutical container market can be segmented as:
- IV Containers
- Semi Rigid IV Containers
- Premixed IV Mini bags
On the basis of material used, pharmaceutical container market can be segmented as:
Pharmaceutical Container Market: Key Players
Some of the key manufacturers in the pharmaceutical container market are as follows
- SCHOTT AG
- Alexander (James) Corporation
- Amcor Limited
- Berry Plastics
- AptarGroup Incorporated
- Gerresheimer Holdings GmbH
- Becton, Dickinson and Company
- Alpha Packaging
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Emerging Countries to play crucial role in the pharmaceutical containers market
Growing pharmaceutical industry in emerging countries such as Mexico, China and India accounts for healthy growth in the market. Most of the pharmaceutical companies have already started their production facilities in the China, India & Mexico which will create the enormous opportunities for the new entrants in the pharmaceutical container market.
Pharmaceutical Container Market: Key Developments
- US Alcan Packaging, Inc. has developed a plastic bottle in the pharmaceutical container segment, which consists of an implantable electronic identification code (RFID code). The code helps obtain information about the product such as manufacturer, production date, batch number, etc. at one swipe.
- In October 2017, the company in collaboration with Xinkang started a new manufacturing facility in the China. The new plant will produce approximately two billion pieces of primary pharmaceutical containers made up of glass.
- In April 2016, Becton, Dickinson and Company introduced Genesis—a low temperature rigid sterilization container.