The North American pharmaceutical glass packaging market is anticipated to grow at a CAGR of 4.8% over the forecast period (2020-2026). The key factors that drive the growth of the market include the presence of numerous players along with the wide availability of innovative specialty products in the region. Besides, the rise in the branded product sales and high sales of low-cost generic drugs particularly in the US further drives the market growth over the forecast period. There are numerous companies and research institutes focused on the R&D regarding drug development and manufacturing, which creates demand for advanced and safe packaging products, which in turn, drives the growth of the market during the forecast period.
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Further, the increased prevalence of several chronic diseases such as diabetes also fosters market growth, as a large number of vials and bottles are required for the storage of drugs. According to IDF, in 2019, the prevalence of diabetes was around 13.3% of the total adult population in the region which is expected to increase up to 14.2% by 2030 and 15% by 2045. Thus, the increased prevalence of diabetes provides growth opportunities for the market in the forecast period.
Similarly, the outbreak of the COVID-19 has also created a scope for the market, as, post-discovery of COVID-19 vaccines, a large number of vials and bottles will be in demand for the proper storage of drugs. Thus, such aforementioned factors are likely to upsurge the growth of the North American pharmaceutical glass packaging industry over the forecast period.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected segment
North America Pharmaceutical Glass Packaging Market – Segmentation
By Product Type
North America Pharmaceutical Glass Packaging Market – Countries Covered
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