North America is a huge market for pharmaceutical companies. In 2012, North America accounted for more than 40% of the world pharmaceutical sales. Many of the giants of the pharmaceutical industry are based out of the US like Pfizer, Johnson and Johnson and Merck and Co.
This large pharmaceutical market needs a huge pharmaceutical packaging market to help it sustain the growth. This growth in the pharmaceutical market has spurred the growth in the pharmaceutical packaging also. Packaging is an integral part of the overall drug as maintaining the quality and safety of the drug is imperative for its functioning. The North America pharmaceutical packaging market is estimated to reach more than USD 28.37 billion by 2021 at a CAGR of 5.56%.
Increasing incidence of diseases is causing increased spending on healthcare by governments. This immense growth is opening up new avenues for the packaging industry; however, pharmaceutical manufacturers must follow stringent requirements to protect consumer safety and environmental regulations which are also applicable to packaging providers. Increasing cost pressures on pharmaceutical manufacturers is forcing them to pass on this cost on to packaging companies which have become one of the driving forces of pharmaceutical packaging market. The rise in self-medication and over-the-counter products is also contributing to the growth of this industry.
The world revenue for pharmaceutical anti-counterfeiting technologies will cross a billion dollars in a few years. The threat of counterfeiting is much more intense in the North American region where innovative drugs are produced with significant investment. Companies cannot afford to lose revenue from lost and faked products. The significant investment is a boost to the packaging industry as the major anti-counterfeiting measures like tamper evident packaging systems such as film wrappers, shrink seals and bands, breakable caps, sealed tubes are the basic first level defenses against counterfeiting.
The report provides a comprehensive analysis of the market segmented on the basis of packaging material used and the end user industry. The various products used in pharmaceutical packaging are explained along with their market shares and forecasts. Detailed estimates for the next five years are included along with the analysis of the major players and their strategies. Some of the major vendors are Amcor, CCL Industries, Intrapac, Rexam Plc and Schott AG.
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