New report predicts that pharmaceutical packaging will generate massive revenue

Persistence Market Research’s new report titled Pharmaceutical Packaging Market: The U.S. Industry Analysis and Forecast to 2020 has cited the pharmaceutical packaging market as a key revenue generator in the years to come. It went on to say that the U.S. is driving this growth in the North American market due to the presence of health-conscious people and their high spending power. “The U.S. market is expected to maintain moderate growth due to an increasing aging population, robust innovations and increasing consumer demand for sophisticated packaging,” it added. Technological innovation in packaging and integration, as well as advanced manufacturing processes are some of the driving factors responsible for the growth in the U.S. In addition, regulation implemented by government agencies such as the Food and Drug Administration (FDA), National Quality Forum (NQF) and Healthcare Compliance Packaging Council (HCPC) for packaging, is also driving the growth of the pharmaceutical packaging market. However, price volatility, the availability of raw materials and changing health regulations are some major restraints inhibiting the growth of the pharmaceutical packaging market.

Furthermore, the report said, nano-enabled pharmaceutical packaging will open up new opportunities for growth. Biotechnology and electronics will also play an important role in enhancing the functionality of packaging. Some of the recent market trends, it pointed out, include advancements in packaging technologies and the emergence of new medicinal products. In addition, eco-friendly packaging and child-resistant packaging is also gaining popularity via special blister packs and the growth of cardboard packaging. Some of the leading players in this market include MeadWestvaco, Alexander (James), Baxter International, Amcor, Centor and Lilly (Eli) Company, Unilife, Schott AG and Plastube.

For more information and to download the report, please visit https://www.persistencemarketresearch.com/samples/3144

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Tony Curcio is the editor of Graphic Arts Magazine.