According to the Technavio’s latest market study, the North American pharmaceutical packaging market is expected to grow through 2021.
By that time, the industry is expected to command $29.24 billion by the second decade of the century. The Technavio report identified top vendors of pharmaceutical packaging as Amcor, Bemis, Owens-Illinois, West Pharmaceutical Services and WestRock.
Pharmaceutical plastic packaging that includes plastic bottles used to store galenical medicines and ready-made medicines will reach revenues of nearly $6 billion by 2021. Following various quality standards, the plastic containers are made from low-density polyethylene and used for storing non-sterile liquids making them safe for health uses.
The market for parenteral containers -- containers that include vials, injections, ampoules and pre-filled syringes -- is expected to grow as well reaching a total revenue of nearly $5 billion by 2021. Ampoules, or simple glass containers that contain medications are a popular choice for manufacturers at present because they don’t require a silicon coating. Pre-filled syringes have a higher compliance rate than other parenteral containers, because they are easier for patients to use.
Technavio is a global research and advisory company that analyzes data from over 500 technologies throughout 80 countries on an annual basis. The company employs roughly 300 analysts globally.