Nano-enabled drug packaging market worth $8bn by 2014, says iRAP
In a report published yesterday, the group suggest that demand for better barrier protection for new high-tech, high-value drugs is driving development of nanotechnology packaging technologies.
Within this, the authors predict that blister packaging will be a key driver for the nano-enabled packaging market because demand for such packs has increased considerably in recent years thanks to their adaptability.
They also suggest that: “Advances in the changeover features of processing machinery will also benefit growth by making blister packaging more cost-efficient in small volume drug applications.
However, while iRAP expect the nano-enabled blister packaging market to more double in size to $2.1bn by 2014, they forecast that the most rapid expansion will come from the pre-fillable inhaler and syringe market.
“Global demand for pre-fillable inhalers and pre-fillable syringes will generate the fastest growth opportunities among all pharmaceutical packaging products, based on performance advantages in drug delivery and the introduction of new bioengineered medicines.”
Compliance, child resistance, senior friendly
iRAP also expects the need for improved safety and compliance solutions to expand the nano-enabled packaging market, particularly for closures, accessories, high visibility labels and anti-counterfeiting measures.
“Demand for these products will benefit from stricter government and industry standards covering the safety, security and ease of use features of drug containers.”
India and China
On a regional basis iRAP predicts that, while Europe the US and Japan will remain as the largest consumers of nano-enabled packaging, Asia will be increasingly important going forward.
They suggest that growth of the drug sector in India, particularly the generics market, may see the country overtake Japan as the biggest consumer of nanaotech packaging in years to come.
iRAP also predicted that the Chinese market will grow considerably due to “the phasing-in of a government programme designed to upgrade the quality and integrity of nationally produced medicines.”
This, they suggest, will see the market for nano-enabled packs, reach a value of some $2.03bn by 2014.
