Lowest Price Guaranteed From USD 4,499
One of the main reasons for choosing elastomeric materials for manufacturing closures is their anti-leaching property and limited interaction potential of the material with the formulation present in vial / syringe. Further, using ready-to-use products saves a lot of time and effort in the overall production processes
-- Project Manager, Business Development, a US based mid-sized company
The pharmaceutical caps and closures market is estimated to be worth $4.6 billion in 2019 and is expected to grow at CAGR of over 6.7% during the forecast period. Pharmaceutical packaging plays a crucial role in ensuring the sterility and quality of a drug product, while also providing information related to its identity and, in certain cases, dosing instructions. Primary packaging material, owing to the fact that it is in immediate contact with the drug / therapy formulation, is considered to be extremely important when it comes to preserving the stability, efficacy and safety of the packaged drug product. Further, given the growing complexity of modern pharmacological interventions, especially biologics, it has become imperative for drug / therapy packaging considerations to be re-evaluated, taking into consideration the evident shift from large batches of one remedy for everyone to smaller batches of more personalized therapeutic solutions. In addition to optimizing drug-packaging compatibility, stakeholders in the pharmaceutical packaging industry have also adopted a number of other flexible solutions to reduce the overall cost and expedite time to market.
The use of elastomeric materials, along with various types of coatings (such as FluoroTec® and Teflon®), has emerged as a promising alternative to conventional, non-coated closures used for primary packaging containers, which were prone to leaching and shedding of particulate contaminants. The advantages of using elastomeric materials in manufacturing container closures are many, including low leaching potential, minimal chemical interaction with the pharmacological formulation, and the fact that they can be used to make waterproof and airtight closures. Moreover, such closures can also be manufactured in the ready-to-use (RTU) format, which saves a significant amount of time by eliminating the need for multiple steps in the overall fill / finish process. Owing to the aforementioned benefits, the industry has witnessed an evident market growth in preference for elastomeric container closures.
Examples of key companies engaged in pharmaceutical caps & closures market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Aptar Pharma (a Part of AptarGroup), DWK Life Sciences, West Pharmaceutical Services, Datwyler Sealing Solutions (a Part of Datwyler Group), Lonstroff (a Part of Sumitomo Rubber Industries), Ompi (a Part of Stevanato Group), Daikyo Seiko, Hebei First Rubber Medical Technology and Jiangsu Hualan New Pharmaceutical Material. This market report includes an easily searchable excel database of all the companies providing caps, needle shields, plungers, stoppers, seals, tip caps and other closures for pharmaceutical industry, worldwide.
The ‘Pharmaceutical Caps and Closures Market, 2019-2030: Focus on Caps, Needle Shields, Plungers, Stoppers, Seals, Tip Caps and Other Closures’ market report features a comprehensive study of the current market landscape, market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunities of the caps and closures market. It features an in-depth analysis, highlighting the various types of elastomeric closures including stoppers, needle shields and plungers, available in the market for various types of primary packaging containers, such as cartridges, syringes and vials.
In addition to other elements, the market research report includes:
The key objective of caps & closures market report is to provide a detailed market analysis in order to estimate the existing caps and closures market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunity for caps and closures market during the forecast period. Based on several parameters, such as target consumer segments, region specific adoption rates and expected prices of such products, we have provided an informed estimate on the likely evolution of the market over the forecast period 2019-2030. The market report provides sales forecasts for the overall elastomeric closure market, wherein both the current and upcoming opportunity is segmented across [A] type of packaging container(s) (vials, syringes and cartridges), [B] type of closure(s) used (seal, stopper, cap, plunger, barrel, and needle shield), [C] sterilization status (pre-sterilized and unsterilized), and [D] key geographies (North America, Europe, Asia-Pacific, and Rest of the World). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.
The opinions and insights presented in this market report was also influenced by discussions conducted with multiple stakeholders in caps and closures market. The market research report features detailed transcripts of interviews held with the following individuals (in alphabetical order of company names):
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market research report are in USD, unless otherwise specified.