North America sachet packaging in pharmaceuticals market was valued at US$ 406.1 million in 2019, according to North America Sachet Packaging in Pharmaceuticals Market Report, by Material Type (Plastic (Polyethylene (PE), Polypropylene (PP), Polyethylene Terephthalate (PET), Ethylene Vinyl Alcohol (EVOH), and Others), Aluminum Foils, Paper, and Others), by Packaging Sizes (01ml-10ml, 11ml-20ml, 21ml-30ml, and Others), by Application (OTC Drugs, Health Beauty Products, and Others), and by Country (U.S. and Canada), published by Coherent Market Insights.
North America sachet packaging in pharmaceuticals market is expected to surpass US$ 612.1 million by 2027, exhibiting a CAGR of 5.3% during the forecast period (2020-2027). The growth of the sachet packaging in pharmaceuticals market in North America is expected to be driven by rising benefits of sachet packaging in terms of pharmaceuticals. Sachet packaging offers pharmaceutical producers to offer pre-measured single-dose packages that provide just the right amount of product inside, ultimately reducing product waste. The aluminum foil present in sachets creates a protective barrier which keeps contaminants such as moisture, oxygen, and light away from the medical products. This extends the shelf life of pharmaceuticals, which makes them safer for the patients. The advantages offered by sachet packaging is expected to drive its demand from pharmaceutical industry over the forecast period.
To know the latest trends and insights prevalent in this market, click the link below:
Browse 50 market data tables* and 45 figures* on "Sachet Packaging in Pharmaceuticals Market” - North America Forecast to 2027.
Key Trends and Analysis of the North America Sachet Packaging in Pharmaceuticals Market:
- Among country, the U.S. accounted for a significant market share in 2019. OTC drugs provide affordable treatment options for the consumers and these drugs help to increase access to treatment, this is expected to drive market growth for sachet packaging in pharmaceuticals in North America over the forecast period. For instance, according to a report released by the U.S. Consumer Healthcare Products Association (CHPA) in 2019, the availability of OTC medicines provides US$146 billion in value to the U.S. healthcare system annually.
Key Takeaways of the Market:
- Among packaging size, 01-10ml segment accounted for largest revenue share of 56.6% in the North America sachet packaging in pharmaceuticals market in 2019. Hand sanitizers have been gaining increasing demand from the past couple of years and the 01-10ml easy to carry hand sanitizers sachets have been high demand too. These sachets are easy to transport, manufacture, and use and hence been gaining high demand in the North America.
- Major players operating in the North America sachet packaging in pharmaceuticals market include Ahlstrom-Munksjo, Amcor plc, American Flexpack, Constantia Flexibles, Glenroy Inc., Multi-Pack Solutions LLC, Ropack, Inc., Sharp, Synchpack, and Tripak Pharmaceuticals.
- Key players operating in the North America sachet packaging in pharmaceuticals market are focusing on various strategies such as expansion of their production facilities, in order to strengthen their market presence and expand their product portfolio. For instance, in April, 2019, Multi-Pack Solutions LLC expanded its existing Greenville County operations. The company also expanded its production and sales operations facility at the South Carolina Technology and Aviation Center.
North America Sachet Packaging in Pharmaceuticals Market - Impact of Coronavirus (Covid-19) Pandemic
- The overall increasing demand for pharmaceuticals is expected to drive the market growth of North America sachet packaging in pharmaceuticals during the pandemic. For instance, according to the U.S. Consumer Healthcare Products Association (CHPA), among OTC drugs hand sanitizer sales were up by over 600% to reach US$ 1.46 Bn, while sales of consumer medical devices increased by 15.6% to reach US$ 14.8 Bn in 2020. The COVID-19 pandemic has created an unprecedented demand and urgent need for disinfectants and hand sanitizers. However, manufacturing companies are struggling to cope up with increasing demand for hand sanitizers. Manufacturers are struggling to find materials needed, not only to produce the product, but also to develop the packaging, in which it comes.