SUBSCRIBE

Breaking News on Global Pharmaceutical Technology & Manufacturing

Headlines > Drug Delivery

Pharma 'fastest-growing packaging sector'

24-Feb-2005

Worldwide demand for packaging equipment for the pharmaceutical and personal care products sector is forecast to post the strongest gains of any market through 2008, reaching $4.4 billion in that year.

This represents annual growth of 5.4 per cent, a little better than the 5 per cent increase seen across all packaging sectors, according to a new report from Freedonia. Overall, the world packaging machinery market will reach $31bn in 2008, with the greatest growth coming from developing countries.

This represents a substantial improvement over the 1998-2003 period, reflecting accelerating economic growth in developing regions and Eastern Europe. Improving economic fundamentals will bolster most packaging machinery consuming sectors in these regions, notes the report, and as a result manufacturing output will increase, creating opportunities for packaging machinery suppliers.

The most promising markets are those emerging in Latin America and the Asia/Pacific region, where faster population growth and more rapidly increasing levels of industrial output will stimulate demand for packaging machinery. China will record some of the strongest increases, with packaging machinery demand rising over 8 per cent annually through 2008, and India will also post strong gains, according to Freedonia.

For pharmaceuticals/personal care, rising standards of living in the developing world will increase the number of consumers that can afford packaged products. Meanwhile, in the developed world, the sector will benefit from the rising average age of the population in places like the US and Japan, which will spur demand for packaged medicine and personal care products.

As with the food and beverage markets, pharmaceuticals require proper sealing is essential to prevent leakage and to make sure the product istamperproof. However, many pharmaceutical items require childproofpackaging in markets such as the US, and the development of childproof packaging that is also easy-to-use for senior citizens is an ongoing area.

Across all industries, the US is the largest producer of packaging machinery, with 2003 shipments of $4.9bn, followed by Japan with $4.1bn. Other leading roducers include Germany, Italy and China, all with annual shipments in excess of $1bn. The major net exporters of packaging equipment in 2003 were Germany and taly, followed by Sweden and Japan.

Among product groups, labeling and coding machinery will remain the fastest growing segment, driven by the increasing number of labellingregulations in many parts of the world, as well as shippers' need to track products. Filling and form/fill/seal equipment will remain the largest product group, due to their widespread use across a range of industries. New product development activity will continue in all types of equipment, with packaging machinery manufacturers continuing to introduce smarter, faster and more flexible units, predicts the report.

Freedonia also predicts that the machinery market will reach $40.1bn in 2013, with pharmaceuticals and personal care items accounting for $5.7bn of that total.

The 286-page report is called World Packaging Machinery and costs $5,100.

Subscribe to our FREE newsletter

Get FREE access to authoritative breaking news, videos, podcasts, webinars and white papers. SUBSCRIBE

Related products

Key Industry Events

 

Access all events listing

Our events, Events from partners...