In half a decade's period the CARG of the packaging market in India's Pharmaceutical is predicted to rise by 5%. India's Increase in life expectancy, Growing population and awareness in health are few of the aspects given credit towards the growth in pharmaceuticals packaging industry. With the adoption of new regulatory standards in packaging recycling and the expanding awareness if impact on environment because of traditional packaging material is thriving India's pharmaceutical packaging industry.
India stands third in pharmaceutical concerning volume and ranks thirteen when it comes to value, holding a large base of raw materials and accessible skilled workforce. In 2018-2019, USD 19.13 billion was India's pharmaceutical export and checked in till January 2020 for 2019-2020 to USD 13.69 billion and by the end of 2020 it is predicted to rise by 30%, asserted by the India Brand Equity Foundation.
In the World India is known to have one of the lowest manufacturing cost, cost-effective than most of it countries. When it comes to generic medicines, India is the largest supplier in the world holding a 20% to 22% export globally. This has inflamed the pharmaceutical sector towards research and development of effective packing solutions, which extensively restrict contamination, easy in handling and delivery and ensures drug safety.
In pharma packaging an array of plastic bottles are utilised which are invented of plastics such as polystyrene, polypropylene, polyvinyl chloride and polyethylene. These plastics are lightweight, clear and strong and used in selling and storing packed products across different industries like carbonated soft drinks and soda, drinking water, etc. These are largely used as primary and secondary packaging material. Pharmaceutical companies are leaning to a great extent on labeling and packaging as a medium in promoting their products and also to safeguard their products from the increasing fictitious markets. Plastic has been widely accepted because of its characteristics like high dimensional stability, resistance to strain, transparency, high impact strength, resistance to heat and flame, barrier against moisture, etc.
For primary packaging in pharmaceuticals PVDC (polyvinylidene chloride) and Polyvinyl chloride are mainly used as they safeguard the products from moisture, bacteria, oxygen and odor, water vapor transmission and contamination. PVC ranks third in the most widely produced synthetic plastic polymer, globally used for its excellent organoleptic properties which has zero impact on the medicines or packed foods taste.
India has a few major players dominating pharmaceutical packaging market, which are concentrating in broadening their customer base across foreign countries.