The global pharmaceutical packaging market has exceeded 100 billion US dollars

As the carrier of drugs, pharmaceutical packaging plays a very important role in ensuring the quality of drugs in the process of transportation and storage, especially the inner packaging directly contacting drugs. The stability of the materials used has a direct impact on the quality of drugs.

After the covid-19 outbreak in December 2019, top biotechnology and pharmaceutical companies are committed to developing vaccines against the disease. Therefore, in 2020, due to the increase of covid-19 vaccine production by GSK, AstraZeneca, Pfizer, Johnson & Johnson and Moderna, the demand for pharmaceutical packaging increased significantly. With the increase of vaccine orders from all over the world, the demand side of the pharmaceutical packaging industry will be more active in 2021.

According to preliminary estimation, the market scale of the global pharmaceutical packaging industry will increase year by year from 2015 to 2021, and by 2021, the market scale of the global pharmaceutical packaging industry will be 109.3 billion US dollars, with an average compound annual growth rate of 7.87%.

The United States is the world’s largest pharmaceutical packaging market

From the perspective of regional competition pattern, according to the data, in 2021, the US market accounted for 35%, the European market accounted for 16%, and the Chinese market accounted for 15%. Other markets accounted for 34%. Overall, the main markets of the global pharmaceutical packaging industry are concentrated in North America, Asia Pacific and Europe.

As the world’s largest pharmaceutical packaging market, the pharmaceutical packaging market in the United States was about 38.5 billion US dollars in 2021. It is mainly due to the specific packaging demand formed by the R & D achievements of innovative drugs, which plays a positive role in promoting the popularization and adoption of drug packaging solutions in the United States. In addition, the development of the pharmaceutical packaging industry in the United States also benefits from the existence of large pharmaceutical companies and the availability of advanced technology research platforms, including increasing R & D funds and government support. The main participants in the US pharmaceutical packaging market include Amcor, Sonoco, westrock and other leading companies in the global packaging industry. Nevertheless, the pharmaceutical packaging industry in the United States is also highly competitive, and the industry concentration is not high.