Published Date : Sep 12, 2016
ALBANY, NY, Sep 12, 2016 - MarketResearchReports.biz has recently announced the addition of a new report on the global pharmaceuticals caps and closures market to its vast repository. The global pharmaceuticals caps and closures market is highly fragmented with several players. There exists intense competition among players in the market in terms of product pricing, product portfolio, and product differentiation. The report is titled, “Global Pharmaceutical Caps And Closures Market 2016-2020” and presents an reports of this market, taking key trends, current state of market, and future growth prospects into consideration.
According to the report, the market will witness the entrance of many new players in the period from 2016 to 2020, owing to the low manufacturing cost. The caps and closures sector is important for the packaging industry as they are used by raw material suppliers, end users, packaging producers, and also processors.
Pharmaceuticals caps and closures ensure that complex drugs are protected and devoid of any contamination, which makes them indispensable for drug manufacturers. Another key factor driving the demand for pharmaceuticals caps and closures is the replacement of one-piece over two-piece caps. Single-piece caps are lighter in weight and require less use of raw material. They require less torque and have large seal angle, thus reducing resin consumption and carbon footprint considerably, driving the market.
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The increased use of injection molded high density polyethylene (HDPE) closures for packaging pharma products is common in Asia and Europe, and still growing in other parts of the world, thus driving their market. On the other hand, the incompatibility of plastic polymers with substrates will be a challenge for the global pharmaceuticals caps and closures market. Additionally, plastics are incompatible with some mineral acids and organic liquids because of their chemical properties. This could lead to a deformation of the packaging substrate or may adulterate the product, which is another challenge faced by players in the industry.
The introduction of dual-spout closures is expected to create opportunities for growth in the market. Players are also concentrating on innovations and making convenience their prime objective so as to score above other competitors. Players are also introducing new, advanced designs which offer consumers the convenience they desire. A case in point would be Triumph Pharmaceutical. This company has launched dual spout closures for its oral care product SmartMouth, which enables consumers to make use of two solutions at the same time from two bottles that are packed as one. Such innovations in terms of packaging are projected to propel the demand for pharmaceutical caps and closures in the forecast period.
Key manufacturers in the global pharmaceuticals caps and closures market are: Amcor, Caps & Closures, O.Berk, Closure Systems International, and Global Closure Systems.
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