The US 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 country.
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According to the Pharmaceutical Research and Manufacturers Association (PhRMA), US firms conduct over 50% the global R&D in pharmaceuticals ($75 billion) and hold the intellectual property rights on most new medicines. The overall economic impact of the biopharmaceutical industry on the US economy is substantial.
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Moreover, the US has one of the most supportive domestic environments globally, for the development and commercialization of pharmaceuticals and that too with minimal market barriers. Such factors directly impact the growth of the pharmaceutical packaging industry of the country.
US Pharmaceutical Packaging Market- Segmentation
By Type
- Primary
- Secondary
By Material Type
- Plastic & Polymer
- Paper & Paperboard
- Others
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