In 2022, the global pharmaceutical packaging box market size is expected to exceed 100 billion US dollars

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

  Following the outbreak of COVID-19 in December 2019, top biotech and pharmaceutical companies are working on developing vaccines against the disease. Hence, 2020 saw a significant increase in the demand for pharmaceutical packaging as companies such as GSK, AstraZeneca, Pfizer, Johnson & Johnson and Moderna increased their production of COVID-19 vaccines. With the increase in the number of vaccine orders from countries around the world, the demand side of the pharmaceutical packaging industry will be more active in 2021.

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

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

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

  As the largest pharmaceutical packaging market in the world, the US pharmaceutical packaging market in 2021 will be approximately US$38.5 billion. Specific packaging needs, primarily due to innovative drug R&D results, have played an active role in driving the popularity and adoption of pharmaceutical packaging solutions in the United States. And the U.S. pharmaceutical packaging industry has also benefited from the presence of large pharmaceutical companies, the availability of advanced technology research platforms, including increased R&D funding and increased government support. Major players in the U.S. pharmaceutical packaging market include global packaging industry leaders such as Amcor, Sonoco and WestRock. Despite this, the US pharmaceutical packaging industry is also more competitive, and the industry concentration is not high.