Overview and Scope
Healthcare packaging refers to a process used to package medications, equipment, and other pharmaceutical supplies. It is done to protect and store medical supplies from physical harm, biological contamination, and negative external consequences. Healthcare packaging serves several crucial functions, but its main function is to safeguard packaged drugs or health products.
Sizing and Forecast
The healthcare packaging market size has grown strongly in recent years. It will grow from $112.99 billion in 2023 to $119.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to consumer expectations, environmental awareness, patient-centric designs, drug safety concerns, regulatory changes.
The healthcare packaging market size is expected to see strong growth in the next few years. It will grow to $156.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rise in pharmaceutical demand, advanced serialization and traceability, aging population dynamics, customization and personalization, remote healthcare and telemedicine. Major trends in the forecast period include sustainable packaging, smart packaging solutions, child-resistant packaging, personalized packaging, antimicrobial packaging.
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Segmentation & Regional Insights
The healthcare packaging market covered in this report is segmented –
1) By Product: Bottles And Containers, Vials And Ampoules, Cartridges And Syringes, Pouches And Bags, Blister Packs, Tubes, Paper Board Boxes, Caps And Closures, Labels, Other Products
2) By Packaging Format: Flexible Packaging, Rigid Packaging
3) By Material Type: Glass, Plastic, Metal, Paper And Paperboard
4) By Drug Delivery Mode: Oral, Injectable, Dermal And Topical, Inhalable, Other Drug Delivery Modes
5) By End-User: Pharmaceutical, Medical Devices
North America was the largest region in the healthcare packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the healthcare packaging market report during the forecast period. The regions covered in the healthcare packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growth of the pharmaceutical business is expected to propel the growth of the healthcare packaging market going forward. Healthcare packaging is essential for the safe and effective delivery of pharmaceutical products, protecting them from external factors that can compromise their quality. As the pharmaceutical industry grows and innovates with new drug development, the demand for advanced and specialized healthcare packaging solutions also increases. This drives market growth for healthcare packaging by creating opportunities for packaging manufacturers to develop new and innovative solutions to meet the evolving needs of the pharmaceutical industry. For instance, in June 2022, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based trade association and lobbying organization, in 2021, North America accounted for 49.1 percent of global pharmaceutical sales, compared to Europe’s 23.4 percent. And the pharmaceutical business spent more than $43.15 (€39,600 million) on research and development in Europe in 2020. These numbers are expected to rise in the future. Therefore, the growth of the pharmaceutical business in emerging markets is driving the healthcare packaging market going forward.
Key Industry Players
Major companies operating in the healthcare packaging market are focused on developing innovative products, such as all-film packaging, to gain a competitive edge in the market. All-film packaging is a type of packaging that uses only film materials, such as plastic, metalized film, or foil. For instance, in November 2023, Amcor Plc, an Australia-based provider of high-quality, responsible packaging solutions, launched Healthcare Recycle-Ready Medical Laminates. These laminates are made entirely of polyethylene (PE), which is a recyclable material, making them a more sustainable option than traditional medical laminates, which are often made of multiple materials that cannot be recycled together. The new laminates are designed to be used in a variety of medical packaging applications, including 3D thermoformed packages for drapes, protective materials, catheters, injection systems, and tubing.
The healthcare packaging market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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