The pharmaceutical packaging market is expected to be around USD 171 billion in 2025, with consistent growth projected from 2025 to 2035. The market is anticipated to reach close to USD 400+ billion by 2035, with a CAGR of 10.5%, driven by innovations in medicine delivery and packaging safety solutions.
The U.S.A accounted for the largest pharmaceutical market worldwide. A large healthcare system, high per capita income, and large investments in drug development in the country are some of the key factors driving the U.S. market. Furthermore, the growing importance of generic drugs and access to better healthcare services are anticipated to provide lucrative opportunities for pharmaceutical packaging in the coming years. The 21st Century Cures Act was signed on December 13, 2016, in the U.S. and is designed to accelerate medical product development. The law is expected to drive new innovations in product developments in the pharmaceutical industry. This is expected to drive the demand for pharmaceutical packaging in U.S.
The pharmaceutical industry is primarily driven by the progress in the field of medicine and bioscience. In addition, the pharmaceutical industry acts as a key asset to the European economy as it is one of Europe’s top-performing, high-technology sectors. The pharmaceutical industry is witnessing a significant transition and the focus on the development of biopharmaceutical drugs has considerably grown over the past few years. Few biotechnology-driven drug therapies are unstable in liquid form and are, therefore, introduced as lyophilized or dry powder dosage forms.
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