Tokyo, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The global healthcare packaging market size will reach at USD 140.47 billion in 2022. The healthcare sector has advanced from its old forms of practices to the current state, where high-tech tools are being used to increase productivity and meet the rising need for environmentally friendly packaging and processing methods. Pharmaceutical businesses are being pushed to adopt sustainable practices by government laws and a growing public awareness of environmental problems. These advancements by the manufacturers of pharmaceuticals and medical equipment are opening up opportunities for the market for healthcare packaging to grow.
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The packaging for medical devices creates a clean environment for their contents, and this sterility must be maintained until the box is opened for usage. The growth of the healthcare sector is attributed to an increase in the number of hospitals, producers of therapeutic equipment, and diagnostic facilities around the world. Revenue of sterile therapeutic packing are expected to increase as a result of growing environmental concerns and rising demand for microbiological packaging. Due to regionally varied increases in life expectancy, there is a rising market for medicines and medical device producers.
The production and packaging procedures used in the medical device and pharmaceutical sectors place a strong emphasis on safety and sustainability. To combat the sale of counterfeit drugs and medical devices, traceability laws have been implemented throughout the healthcare industry. Traceability regulations are present in both established and developing regions.
The US Drug Quality and Security Act (DQSA), for instance, mandates serialization of all prescription medications and supply chain history throughout North America. As a result, the market for labeling machinery is anticipated to increase rapidly due to the necessity for compliance with the serialization of all pharmaceutical and medical devices. Due to supply chain problems brought on by prolonged manufacturing closures worldwide, the spread of COVID-19 has had a detrimental effect on the market to some extent. Making bottles, vials, and ampoules to supply pharma businesses has proven challenging logistically.
Report Insights
- The rigid packaging segment has accounted 81% market share in 2021.
- By material, the plastics segment has generated 52% revenue share in 2021.
- North America region has contributed 36% market share in 2021.
- Asia Pacific is expected to witness strong growth over the forecast period.
Regional Snapshots
During the projection period, North America is expected to dominate the international healthcare packaging market. The populations of the United States and Canada differ noticeably in regards to size, healthcare cost intensity, combine GDP rate, and health insurance plan structure despite the fact that both countries are developed, have thriving economies, aging population sections, and cutting-edge medical delivery systems. Due to its highly developed primary medical community, considerable medical & life scientific research activities, high healthcare expenditure intensity, and large pharmaceutical and medical industries, the United States is one of the major geographical markets for healthcare packaging products.
During the anticipated period, the healthcare packaging market in Asia Pacific is anticipated to develop at the highest CAGR.
Report highlights
- A CAGR of around 6 percent is anticipated for the healthcare packaging market per year (2022-2030).
- The governments of developing nations like China and India are working hard to expand domestic medicine production and improve pharmaceutical manufacturing capabilities.
- As a result of the technological developments in the medical device business, the packaging industry is regularly faced with the difficulty of creating high-quality, anti-microbial packaging.
- The rigid packaging category dominated the market in 2021 and is anticipated to continue to do so for the duration of the projection.
- Healthcare sectors are nevertheless interested in packaging advances notwithstanding the unexpected disruption caused by the COVID-19 epidemic in a variety of commercial operations.
- In the market for healthcare packaging, a variety of diagnostics, biologics, medical devices, and other cutting-edge items are converting into revenue potential for producers.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 135 Billion |
| Revenue Forecast by 2030 | USD 193 Billion |
| North America Market Share | 36% in 2021 |
| Europe Market Share | 28.8% in 2021 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Amcor plc, Gerresheimer AG., DS Smith Plc, Huhtamäki Oyj, 3M Company, Sonoco Products Company, Sealed Air Corporation, Constantia Flexibles Group GmbH, Berry Global Inc., Winpak Ltd., CCL Industries Inc., Dunmore Corporation, Toray Plastics. Inc., and Others. |
Market Dynamics
Drivers
One of the world's fastest-growing industries is packaging. Almost every product that is sold comes in some kind of packaging, which may range from plastic to paper to even metal depending on the item. The market for healthcare packaging will expand as a result of the rising demand from the healthcare and medical sectors for packaging of highly vulnerable medical equipment and devices. The pharmaceutical and healthcare items require protection against tampering and contamination.
The market for healthcare flexible package is growing significantly as a result of the growing elderly population and the rising prevalence of various chronic conditions. Additionally, the market for healthcare packaging is expanding due to the remarkable qualities of healthcare packaging materials, such as their affordability, high flexibility, and availability in a variety of sizes and forms.
Restraints
Despite the industry's expansion, there are still challenges, including stringent legal requirements, globalization, and other economic factors. Manufacturers may find it challenging to create and implement new regulatory frameworks for information and anti-counterfeiting given how frequently labels change. Due to numerous regulatory and economic difficulties, the pharmaceutical packaging business is continuously under pressure to reduce costs. Healthcare Packaging companies are collaborating with physicians to better understand the legal, economic, and globalization restrictions in order to enhance their R&D skills and develop solutions to difficulties.
Opportunities
IoT-enabled healthcare systems can track every medicine package, monitor the use of each tablet or capsule, and show all prescription data that is patient-specific. The Rise of Intelligent and Interactive Packaging, or I2 Pack format, is suitable for smart devices for this usage. The I2Pack is the most up-to-date medical packaging that blends sensing, energy harvesting, communication, RFID, and other characteristics over traditional packaging media to interact with customers.
Because the information fetched and managed to carry by the packaging will alter from static to dynamic and the flow of information will change from one-directional (product to customer only) to dual-directional, the I2Pack can be given more responsibilities in addition to containing and protecting goods (both products to end user and consumer to producer). Packaging is a crucial component of supplier-to-consumer communication. Additionally, it serves as a vendor on-site, a presenter of information, a gatherer of information, and even an executor of certain operations.
Challenges
Issues including tight rules, globalization, and other economic factors are impeding market expansion. It could be challenging for manufacturers to design and implement better practices for labels that are constantly changing as well as for new regulatory frameworks for information and anti-counterfeiting.
Pharmaceutical packaging businesses always experience downward pricing pressure as a result of a number of societal and economic factors. Thus, packaging companies are becoming more aware of the issues related to law, commerce, and globalization. They are also collaborating with medical professionals to enhance their R&D capabilities in order to provide solutions.
Related Reports
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- Pharmaceutical Temperature Controlled Packaging Solutions Market Research Report 2022 to 2030
- Contract Packaging Market Research Report 2022 to 2030
Recent Developments
- In April 2021, Amcorplc unveiled a recyclable thermoform blister packaging design. It is intended to provide a more ecologically friendly alternative while abiding by the stringent requirements regulating pharmaceutical packaging.
- In order to further improve patient safety, Gerresheimer AG introduced Gx Elite premium injection vials in January 2020. Gerresheimers developed these premium tubular glass vials in response to the pharmaceutical industry's escalating consumer expectations, including stricter requirements for patient safety.
- Amcor Limited established two e-commerce testing facilities in the United States and Belgium in September 2019. This new facility assists customers in taking advantage of the huge increase in online sales, particularly of healthcare and household cleaning items. This helps the business grow its clientele and strengthen its sense of brand identification.
Frequently Asked Questions
- What is healthcare packaging market size?
- What will be the CAGR of global healthcare packaging market?
- Who are the key players operating in the healthcare packaging market?
- Which are the driving factors of the healthcare packaging market?
- Which region will dominate the global healthcare packaging market?
Market Segmentation
By Material Type
- Glass
- Plastic
- Metal
- Paper and Paperboard
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
By Application
- Medical Tools & Equipment
- Medical Devices
- In-Vitro Diagnostic Product
By Drug Delivery Mode
- Oral
- Injectable
- Dermal/Topical
- Inhalable
- Others
By Packaging
- Primary Packaging
- Secondary Packaging
By Packaging Format
- Flexible Packaging
- Bags & Pouches
- Envelopes
- Tubes
- Sachets
- Rigid Packaging
- Trays
- Boxes & Folding Cartons
- Clamshells
- Blisters
- Bottles & Jars
- Containers
- Aerosol Cans
- Ampoules & Vials
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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