World pharmaceutical packaging demand to rise 6.4% annually through 2017

World pharmaceutical packaging demand will increase 6.4% annually to $90 billion in 2017 according to the report World Pharmaceutical Packaging Market. Based on the operation of extensive and diverse drug-producing industries, Western Europe, the US, and Japan will account for nearly 60% of this amount. Among all countries, India and China will record the fastest growth in product demand due to rapidly expanding pharmaceutical manufacturing capabilities, burgeoning drug exports, and the phasing-in of an extensive government program designed to upgrade the quality and integrity of nationally produced medicines. Brazil, Mexico, and Turkey will also evolve into fast-growing pharmaceutical packaging product markets as drug-producing sectors are upgraded and diversified, especially in the area of generic ethical drugs.
Among individual countries, the US will remain the largest market for pharmaceutical packaging products as its advanced drug-producing sector introduces new sophisticated therapies with specialized packaging needs. Growth in West European demand will reflect upgraded government standards requiring unit dose, high barrier, and security packaging for many types of medication. Based on its broad range of proprietary and generic drug producers, Japan will continue to comprise a large, diverse market for pharmaceutical containers, closures and related accessories. However, the country will provide below average growth opportunities as drug makers pursue greater packaging efficiencies to offset downward pressures on medication prices (News Article The Sacramento Bee, 10 June 2013).