Pharmaceutical Packaging Market Share

North American Market Forecast

The North American pharmaceutical packaging market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037, backed by reshoring of pharmaceutical manufacture in the region, the growth of production facilities, and partnerships between pharmaceutical companies and CMOs to boost the supply of medications. In addition, rising government spending on COVID-19-related medicines is driving up pharmaceutical packaging demand in North America. However, the market in Asia Pacific region is to grow faster over the forecast period. This is anticipated by growing spending on healthcare in this region. For instance, the APAC region's average healthcare benefit cost trend increased from about 5% in 2020 to approximately 10% in 2021 before falling to about 4% in 2022. Costs are anticipated to increase by an estimated 11% in 2023.Furthermore, the surging awareness related to the zero waste packaging in the pharma industry is further predicted to boost the market’s growth in the region.