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Drug packaging (or pharmaceutical packaging) is process of packing pharmaceutical preparations for distribution, and the physical packaging in which they are stored. It involves all of the operations from production through drug distribution channels to the end consumer.
Global Pharmaceutical Plastic Bottle Industry Demand Analysis 2024 to 2034 | Future Market Insights, Inc. 06/26/2024 11:30 -0400 NEWARK, Del, June 26, 2024 (GLOBE NEWSWIRE) -- The global pharmaceutical plastic bottle market is expected to reach a valuation of USD 49,032 million by 2034, growing at a steady CAGR of 5% through 2034.
A 2013 review found the cost of developing a delivery system was only 10% of the cost of developing a new pharmaceutical. [16] A more recent study found the median cost of bringing a new drug to market was $985 million in 2020, but did not look at the cost of developing drug delivery systems. [17]
The pharmaceutical industry in India was valued at an estimated US$42 billion in 2021 and is estimated to reach $130 billion by 2030. [1] India is the world's largest provider of generic medicines by volume, with a 20% share of total global pharmaceutical exports.
The distribution of medications has special drug safety and security considerations. [1] Some drugs require cold chain management in their distribution. [2]The industry uses track and trace technology, though the timings for implementation and the information required vary across different countries, with varying laws and standards.
West Pharmaceutical Services, Inc. is a designer and manufacturer of injectable pharmaceutical packaging and delivery systems. Founded in 1923 by Herman O. West and J.R. Wike of Philadelphia , the company is headquartered in Exton, Pennsylvania .