Market Size of North America Pharmaceutical Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Pharmaceutical Packaging Market Analysis
The North America pharmaceutical packaging market is expected to reach a CAGR of 8.3% during the forecast period 2020 - 2025. The growing significance of modern packaging in the pharmaceutical industry has led to brands exploiting the potential of distinctive flexible packaging design to stand out from the rest of their competition and to increase profitability.
- Apart from the basic requirement of protecting the drug, the pack also needs to be appealing and distinct enough to promote itself. Thus, the aesthetic appeal of medical packaging further aids in this factor.
- Blister packs witnessed an increased adoption as they enable improved patient compliance and are easily customized to product design due to the availability of a broad range of materials and multiple configuration options.
- Moreover, the growing demand for packaging that is tamper-evident has driven the demand for blister packaging, which also comprises features, such as enhanced barrier protection and reduced weight of the packaging.
- Flexible pharmaceutical packaging products, such as pouches are used to pack medical devices and supplies, diagnostic reagents, and pharmaceutical drugs. Government regulations have created new challenges for the pharmaceutical and medical device sectors within the last decade. This has driven packaging manufacturers to change their production processes, to meet the demand for high production speed and ensure flexibility and safety in packaging products, while complying with FDA regulations.
- The recent COVID-19 outbreak has provided further impetus to the growth of the fast-growing vaccine industry. For instance, Sanofi is collaborating with the US government to develop a vaccine for the virus. Similarly, GlaxoSmithKline has partnered with the Coalition for Epidemic Preparedness Innovations (CEPI) for a vaccine program. Further various companies are extending their help to support the pharmaceutical manufacturers during a pandemic. For instance, in July 2020, Gerresheimer Group's plants in Europe, America, and Asia, where they are manufactured high-quality standards vials in the pharmaceutical industry has received initial orders for vials for drugs and vaccines against COVID-19.
