North America Pharmaceutical Packaging Market By Material (Plastics & Polymers, Paper & Paperboard, Glass, Surveillance & Monitoring, and Others), By Product (Plastic Bottle, Specialty Bags, Labels, Blister packing, Parenteral Container, Closures, and Other Products), By Country, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The North America Pharmaceutical Packaging Market would witness market growth of 9% CAGR during the forecast period (2020-2026). The pharmaceutical products are increasingly being demanded by the growing population across the world along with the rising older population, which further propels the demand for pharmaceutical packaging during the forecast period. Additionally, the increasing demand for generic drugs due to their affordability along with the latest drug development is estimated to fuel the growth of pharmaceutical packaging.
The process of packaging is a very crucial part of pharmaceutical products. These packaging mostly include dosing, dispensing, and the usage of pharmaceutical products. Many drugs are reactive to unstable exposure of moisture, air, and light, thus it is highly crucial to package these drugs well to maintain the effectiveness & safety of the pharmaceutical products.
This packaging helps in securing medicinal products from any contamination and provides them safety & convenience for handling and delivering the products. This is why pharmaceutical packaging needs to be managed properly in order to balance various complex considerations. Although, the increasing cost of packaging due to the strict rules and anti-counterfeiting efforts, is anticipated to hamper the growth of the market. Therefore, controlling these rising costs of packaging becomes a major challenge for the manufacturers of pharmaceuticals products.
Based on Material, the market is segmented into Plastics & Polymers, Paper & Paperboard, Glass, Surveillance & Monitoring, and Others. Based on Product, the market is segmented into Plastic Bottle, Specialty Bags, Labels, Blister packing, Parenteral Container, Closures, and Other Products. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The US market dominated the North America Glass Market by Country 2019, thereby, achieving a market value of $7,067.9 million by 2026. The Canada market is experiencing a CAGR of 12.2% during (2020 - 2026). Additionally, The Mexico market would witness a CAGR of 11.2% during (2020 - 2026).
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Becton, Dickinson and Company, CCL Industries Ltd., Amcor PLC, AptarGroup, Inc., O-I Glass, Inc. (Owens Illinois, Inc.), West Pharmaceutical Services, Inc., Berry Global Group, Inc., WestRock Company, International Paper Company, and Comar, LLC.
Scope of the Study
Market Segments Covered in the Report:
- Plastics & Polymers
- Paper & Paperboard
- Surveillance & Monitoring
- Plastic Bottle
- Specialty Bags
- Blister packing
- Parenteral Container
- Other Products
Key Market Players
List of Companies Profiled in the Report:
- Becton, Dickinson and Company
- CCL Industries Ltd.
- Amcor PLC
- AptarGroup, Inc.
- O-I Glass, Inc. (Owens Illinois, Inc.)
- West Pharmaceutical Services, Inc.
- Berry Global Group, Inc.
- WestRock Company
- International Paper Company
- Comar, LLC
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