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Pharmaceuticals Packing and Labeling Services the US Industry Market Research Report Now Available from IBISWorld
Date:8/8/2014

New York, NY (PRWEB) August 09, 2014

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 $1.6 billion, including an increase of 3.8% in 2014.

According to IBISWorld Industry Analyst Lucas Isakowitz, “The Patient Protection and Affordable Care Act of 2010 (PPACA) has spurred industry growth during the past five years. According to the Congressional Budget Office (CBO), since its singing in 2010, the PPACA has increased the number of Medicaid insured individuals by 8.0 million. Similarly, due to the PPACA, coupled with the improving economy, the number of Americans with private health insurance has grown at an annualized 1.3% during the past five years. As individuals with health insurance have a 75.0% higher drug use rate and tend to spend more on prescription drugs than uninsured individuals (according to US gove
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