In 2016, the global contract packaging market was worth $26.54 billion, and is expected to reach $47.28 billion by 2022. This compound annual growth rate (CAGR) of 10.1% is expected to be driven largely by growing demand for pharmaceutical contract packaging. Here, Dale Pittock, sales director of pharmacy packaging provider Valley Northern, explains how contract packaging can support pharmaceutical innovation.
partnership
NASDAQ’s Globe Newswire reported the predicted global growth for the contract packaging sector in April 2017. In the same article, it also explained that updated international regulations that were being introduced required all packaging of pharmaceuticals to be conducted in Class X cleanrooms.