Abstract
Pharmaceutical packaging is highly sophisticated industry as quality and safety issues are of utmost priority. Use of advanced technology and high grade plastic materials for pharmaceutical packaging is essence of the market success. In Bangladesh, 30 local pharmaceuticals plastic packaging material producers are capturing almost 70% of the local market while the rest (30%) that require extremely high-tech processing is import dependent. Nevertheless, some local plastic companies are setting up world-class dedicated plant for pharmaceutical plastic packaging, while some pharmaceutical companies such as Square and Acme are extending their facility into backward value segment of the plastic packaging industry. This study strives to determine the market size, major players of the industry–both from supply and demand sides–along with individual contribution in terms of value. It also outlines strategic imperatives for growth and competitiveness of the enterprises involved in the industry.
Highlights
Plastic based industry is very promising in Bangladesh which contributes almost 1% of the total GDP (Sazia & Kiptia, 2015)
Some local plastic companies are setting up world-class dedicated plant for pharmaceutical plastic packaging, while some pharmaceutical companies such as Square and Acme are extending their facility into backward value segment of the plastic packaging industry
From the in-depth interview of Commercial Heads of top 10 companies it is estimated that the approximate market size of Bangladeshi pharmaceutical plastic packaging materials is $ 25 million (BDT 200 Crore) which is currently growing with an average rate of 25%
Summary
Plastic based industry is very promising in Bangladesh which contributes almost 1% of the total GDP (Sazia & Kiptia, 2015). In addition to others plastic is widely used in packaging purposes and it is the most usable material even than papers. It is so adaptable, rigid and tough what make it a very protective material to use in packaging industries. If the products needs to be confined and if the packaging for the products has to be convenient, plastic is the essential element to use as it can be used as a variety of packaging purposes. Considering compatibility, stability, easy transfer and other safety issues pharmaceutical companies are mostly dependent on plastic materials for packaging purposes which giving boost to the growth of plastic industries of Bangladesh
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