Tim Wright, Editor06.02.16
Demand for contract packaging services is strong. All signs point to steady market growth between 5-6% annually for the next 3-4 years. In fact, the pharmaceutical packaging market is expected to exceed $100 billion by 2019. The contract packagers Contract Pharma spoke to for this article all concurred that there is a growing need for their services and discussed ways the market is evolving as well as their businesses along with it.
Two key drivers are the demand for personalized medicines in developed markets, and access to medicines is an increasing priority for developing countries. Thus, anticipated future growth will continue to be driven by innovation and geographic expansion.
“Due to increased merger and acquisition (M&A) activities and economic growth in emerging markets, pharma supply chains today are much more global,” said Damian Gant, manager, clinical packaging services, Xcelience, a division of Capsugel Dosage Form Solutions.
Mr. Gant also said the rising shift towards development of orphan drugs has pharma companies looking for increased speed-to-market for their products—requiring global
Two key drivers are the demand for personalized medicines in developed markets, and access to medicines is an increasing priority for developing countries. Thus, anticipated future growth will continue to be driven by innovation and geographic expansion.
“Due to increased merger and acquisition (M&A) activities and economic growth in emerging markets, pharma supply chains today are much more global,” said Damian Gant, manager, clinical packaging services, Xcelience, a division of Capsugel Dosage Form Solutions.
Mr. Gant also said the rising shift towards development of orphan drugs has pharma companies looking for increased speed-to-market for their products—requiring global
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