Pharmaceuticals Packing and Labeling Services the US Industry Market Research Report Now Available from IBISWorld
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The role of the Pharmaceuticals Packing and Labeling Services industry has expanded significantly over the past five years in response to stringent government regulations that have increased pharmaceutical manufacturers' outsourcing of packaging and labeling services. Increasingly pressured to more quickly deliver innovative drugs to market, many pharmaceutical manufacturers are outsourcing their noncentral components (e.g. packing and labeling) to third parties to focus on their core competencies. Additionally, growing use of drug therapies, an aging American population and expanded access to healthcare have stimulated demand for pharmaceuticals during the past five years, bolstering demand for industry services. As a result of these trends, Pharmaceuticals Packing and Labeling Services industry revenue is expected to rise an annualized 3.3% during the five years to 2014, to
According to IBISWorld Industry Analyst
"Expanded access to health insurance and healthy demand for pharmaceuticals will continue to underpin industry performance over the five years through 2019," says Isakowitz. According to the CBO, the initiatives that the 2010 healthcare reform have pushed are expected to provide 26.0 million previously uninsured individuals with coverage by 2024. This will stimulate demand for pharmaceuticals, ultimately translating into high demand for packaging and labeling services. Additionally, growing importance of tamper-proof, anticounterfeiting packaging will keep demand high for industry services.
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The Pharmaceuticals Packing and Labeling Services industry provides packing and labeling services for prescription and over-the-counter pharmaceuticals, biologics, consumer health and veterinary products. Packing and labeling may be provided for finished drug products or active pharmaceutical ingredients. Industry services may include packaging into blisters, bottles, pouches and unit doses, specialty vial or syringe labeling and kitting for injectables.
Industry Performance
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