The North American pharmaceutical packaging market is estimated to grow at a CAGR of 7.1% during the forecast period. The market growth is attributed to the presence of a well-established biopharmaceutical industry in the region. The US is the largest market for biopharmaceuticals, accounting for around a third of the global market, and is the global leader in biopharmaceutical R&D, according to the SelectUSA.
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A large number of innovative (originator) chemically-derived drugs are developed from extensive R&D and clinical trials in both human beings and animals. In addition, emerging sectors include precision medicine and regenerative medicine. In 2016, the US FDA approved 27 new medicines, including 22 new medicines approved by the FDA Center for Drug Evaluation (CDER).
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With the new medicines getting approval, there is an increasing demand for proper packaging for storing drugs and medicine. This in turn, drives the growth of the North American pharmaceutical packaging industry.
North American Pharmaceutical Packaging Market- Segmentation
By Type
- Primary
- Secondary
By Material Type
- Plastic & Polymer
- Paper & Paperboard
- Others
North American Pharmaceutical Packaging Market– Segment by Region
- US
- Canada
Regional Analysis
North America
- United States
- Canada
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