Asia-Pacific Pharmaceutical Packaging Market by Primary Packaging Material, Type of Packaging, Geography and Vendors - Forecasts, Trends and Shares (2016 - 2021)
This region's high population coupled with the steady economic growth are helping the market grow. The GDP growth for 2016 - 2017 is forecasted to be more than 5% which is helped by the growth in economies, robust credit growth and good labor markets. The Chinese pharmaceutical market is growing at more than 15%. This growth in the pharmaceutical market has spurred the growth in the pharmaceutical packaging also. Packaging is an integral part of the overall drug as maintaining the quality and safety of the drug is imperative for its functioning.
The APAC pharmaceutical packaging market is estimated to grow from USD 12.18 billion in 2016 to USD 25.49 billion by the end of 2021 at a CAGR of 13.10%. China and Japan lead the market in terms of revenue followed by South Korea and India.
The increasing globalization has resulted in the setting up of manufacturing plants all across the world thereby changing the raw materials used and lengthening the supply chains. These factors are driving innovations in the pharmaceutical packaging industry over fears of contamination from the packaging into the drug. Alternative techniques like using RFID tags, self-destructive labels, and holographic labels are being used to counter the malaise of counterfeiting.
Increasing cost pressures on pharmaceutical manufacturers is forcing them to pass on this cost on to packaging companies which have become one of the driving forces of pharmaceutical packaging market. The rise in self-medication and over the counter products is also contributing to the growth of this industry.
It is necessary for packaging companies to manufacture such packages which meet the objectives of keeping the product safe from the environment and vice versa. Also, there should be proper labeling of the products so that, it cannot be counterfeited and at the same time have a longer shelf life. Some of the pharmaceutical packaging products being used to meet the above objectives are ampoule, vial, dropper bottle, labels and patient information booklet.
There are various concerns for the region like inflation problems, inadequate supply chains, restrictions by the governments, uncertain consumer behavior and fierce competition from domestic retailers. All these problems affect the pharmaceutical packaging market.
These problems can be allayed by the fact that the governments in this region are opening the markets to companies from abroad. Policies are being changed by the governments to attract more investment. Also, they are implementing new projects to help the infrastructure to support the supply chain.
The report provides a comprehensive analysis of the market segmented on the basis of packaging material used and the end-user industry. Detailed estimates for the next five years are included along with the analysis of the major players and their strategies. Some of the major vendors are Amcor, CCL Industries, Intrapac, Rexam Plc and Schott AG.
Growing pressure on pharma companies to cut costs Steps being taken against counterfeit products Rigorous control regulations and administration and qualification demand Growth in over-the-counter market
Environmental concerns and recycling issues Increasing raw material costs
Reasons to buy this report
The report gives complete market insights, the driving forces of the market, the challenges market faces, about different pharmaceutical packaging technologies and their applications. It gives market trends of the type of pharmaceutical packaging technology and its applications. A complete market breakdown has been done by different countries to give a detailed picture of the market in that particular region. The report also gives information on major vendors of pharmaceutical packaging products, their existing share in the market, strategies they adopt along with the major products, financials, recent developments and profile of these vendors.
Who should be interested in this report?
Vendors who are into manufacturing of these products as they can get an overview of what competitors are doing and also which markets they can look forward to expanding their operations. Processed food suppliers in need of better understanding of different technologies and products. Investors who are willing to invest in this market. Consultants who can have readymade analysis to guide their clients. Anyone who wants to know about this industry.
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