Global Pharmaceutical Caps and Closures Market 2016-2020
About Pharmaceutical Caps and Closures
Pharmaceutical caps and closures protect complex pharmaceuticals so that they remain safe and secure, devoid of any contamination. Drug manufacturers are bound by international compliance jurisdictions enforced by regulatory authorities, which ensure packaging is a critical element in the drug delivery process to the final point of purchase. Various raw materials like plastic resins, rubber, and aluminum find application in the production of pharmaceutical caps and closures.
Technavio’s analysts forecast the global pharmaceuticals caps and closures market to grow at a CAGR of 5.36% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global pharmaceuticals caps and closures market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pharmaceuticals Caps and Closures Market 2016-2020
Technavio recognizes the following companies as the key players in the global pharmaceuticals caps and closures market: Amcor, Caps & Closures, O.Berk, Closure Systems International, and Global Closure Systems.
Other Prominent Vendors in the market are: Alpha Packaging, Guala Closures, Mocap, Phoenix closures, Reynold, Technocap, and WestRock.
Commenting on the report, an analyst from Technavio’s team said: “Emergence of dual-spout closures will be a key trend for market growth. Consumer convenience has become the key element for all the innovations in the global pharmaceutical market. Companies are introducing advance designs, which entice the consumer by the type of convenience it provides. For instance, Triumph Pharmaceutical has also launched dual spout closures for its oral care product SmartMouth. It allows the consumer to use two solutions simultaneously from two bottles packed as one. This product comes in three categories: original, gum and plaque, and dry mouth. The two PET bottles are together by one closure and is fully shrink-wrapped. Consumer can mix two solutions together, before dispensing the liquid out of a bottle.”
According to the report, one of the key drivers for market growth will be replacement of one-piece over two-piece caps. Most companies use injection-molded HDPE closures for packaging pharma products. They are commonly used in Europe and Asia, and still growing in other part of the world. Shifting from two-piece closures to one-piece closures require changes in material as well as the manufacturing process. Single-piece caps reduce the material used and the weight of overall packaging. Single-piece closures weigh 2 grams less than the two-piece caps and closures. They also have other features such as a large seal angle and require less torque. They reduce resin consumption by 6 tons and carbon footprint by approximately more than 15 tons per 500 million bottles.
Further, the report states that incompatibility of plastic polymers with substrates will be a challenge for the market. Plastic have become a principle material for manufacturing caps and closure for pharmaceutical products. Polyethylene and polypropylene are incompatible with certain organic liquids and mineral acids on account of their chemical properties and this often leads to deformation of the packaging substrate or may adulterate the product.
Amcor, Caps & Closures, O.Berk, Closure Systems International, Global Closure Systems, Alpha Packaging, Guala Closures, Mocap, Phoenix closures, Reynold, Technocap, and WestRock.
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