North America Pharmaceutical Contract Packaging Market to Reach US$ 13.1 Billion by 2028, Impelled by Increasing Complexity and Diversity of Pharmaceutical Products

August 10, 2023 | Packaging

According to the latest report by IMARC Group, titled “North America Pharmaceutical Contract Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the North America pharmaceutical contract packaging market size reached US$ 8.1 Billion in 2022. Pharmaceutical contract packaging is the outsourcing of packaging services by pharmaceutical manufacturers. It involves the process of packing pharmaceutical products, including medicines, medical devices, and healthcare products, in a safe, compliant, and efficient manner. It allows pharmaceutical manufacturers to focus on their core competencies, such as research, development, and production, while outsourcing the packaging function to specialized providers, which, in turn, enhances their efficiency and enables them to streamline the manufacturing process. Additionally, it helps pharmaceutical companies in improving operational efficiency, meeting regulatory requirements, and delivering safe and high-quality products. Besides this, as it offers flexibility, scalability, and cost advantages, the demand for pharmaceutical contract packaging is rising across North America.

North America Pharmaceutical Contract Packaging Market Trends:

The increasing complexity and diversity of pharmaceutical products represents one of the key factors catalyzing the demand for specialized packaging services in North America. Additionally, pharmaceutical manufacturers are constantly innovating and developing new drugs, biologics, and medical devices with unique packaging requirements. These manufacturers often need more in-house capabilities or resources to efficiently package these complex products, leading to a growing reliance on contract packaging providers. Furthermore, stringent regulatory requirements and quality standards in the region are catalyzing the demand for contract packaging services to ensure patient safety and product integrity. Furthermore, pharmaceutical companies are focusing on strategic partnerships to improve supply chain efficiency and streamline logistics, warehousing, and distribution processes. Moreover, the growing trend of personalized medicine and specialty drugs is driving the demand for flexible and customized packaging solutions in the region. Personalized medicines often require unique packaging formats, such as patient-specific dosing or specialized delivery systems. Looking forward, the market value is projected to reach US$ 13.1 Billion by 2028, expanding at a CAGR of 7.6% during 2023-2028.

Market Summary:

On the basis of the industry, the market has been segmented into small molecule, biopharmaceutical, and vaccine. Small molecule currently represents the largest market segment.
Based on the type, sterile accounts for the largest market share, followed by non-sterile.
On the basis of the packaging, the market has been classified into plastic bottles, caps and closures, blister packs, prefilled syringes, parenteral vials and ampoules, and others. At present, plastic bottles dominate the market.
Country-wise, the United States enjoys the leading position in the market, followed by Canada.
The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Industry, Type, Packaging, Country
Countries Covered	United States, Canada
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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North America Pharmaceutical Contract Packaging Market to Reach US$ 13.1 Billion by 2028, Impelled by Increasing Complexity and Diversity of Pharmaceutical Products

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