NEW YORK , Aug. 19, 2022 /PRNewswire/ -- As per Zion Market Research study, The global healthcare packaging market size was worth USD 124.10 billion in 2021 and is estimated to grow to USD 177.03 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.10 percent over the forecast period.
Although healthcare packaging has several noteworthy aspects, its main purpose is to protect a packaged medical gadget or pharmaceutical product. Healthcare product packaging aims to uphold the strictest medical standards and norms while also safeguarding the integrity of the product because healthcare products may have specific requirements and are frequently sterilized before packing. Throughout its shelf life, the product should remain stable in the packaging. Businesses in the healthcare packaging industry are expanding their capacity to produce COVID-19 vaccination vials. To ensure that vials arrive swiftly, safely, and in a manner that is simple to use for filling procedures, they are stepping up their efforts to send vials to vaccine manufacturers. Pharmaceutical filling plants receive vials in plastic tubs from packaging makers. The production and packaging procedures used in the pharmaceutical and medical device sectors strongly emphasize safety and sustainability. To combat the sale of fake medications and medical equipment, traceability laws have been implemented throughout the healthcare industry. One of the most pervasive developments in the provision of medical and surgical equipment is the rise of disposable kits. Market expansion is impacted by strict laws, globalization, and other economic considerations. For manufacturers, it might be difficult to establish and apply improved procedures for rapidly evolving labels and new regulatory regimes for information and anti-counterfeiting. Regarding economic concerns, pharmaceutical packaging industries constantly face downward pricing pressure from numerous governmental and economic variables.
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Key Industry Insights & Findings of the Healthcare Packaging Market Reports:
As per the analysis shared by our research analyst, the Healthcare Packaging Market is expected to grow annually at a CAGR of around 6.10 % (2022-2028).
Through the primary research, it was established that the Healthcare Packaging Market was valued at approximately USD 124.10 billion in 2021 and is projected to reach roughly USD 177.03 billion by 2028.
The governments of developing countries like China and India are working hard to improve pharmaceutical manufacturing skills and boost local drug output.
For instance, to meet its customers' needs for pharmaceutical packaging in these nations, Gerresheimer AG constructed two new plastic packaging manufacturing facilities in China and India in 2021.
To improve their R&D capabilities and create solutions to problems, packaging businesses are working with doctors to raise awareness of the regulatory, economic, and globalization constraints.
United States and Canada are developed nations with thriving economies, aging population segments, and cutting-edge medical delivery systems, the populations of the two nations differ noticeably in terms of size, healthcare spending intensity, aggregate gross domestic product (GDP) levels, and health insurance plan structure.
The United States is one of the largest geographical markets for healthcare packaging products due to its advanced primary medical community, extensive medical & life science research activities, high healthcare spending intensity, and sizable pharmaceutical and medical.
India and China are anticipated to have strong growth in the healthcare packaging market due to the growing developmental activities and rapid economic expansion.
Zion Market Research published the latest report titled "Healthcare Packaging Market By Packaging Format (Flexible Packaging and Rigid Packaging), By Material Type (Plastic, Metal, Glass, and Paper & Paper Board), By End Use (Pharma & Biological and Medical Supply and Medical Equipment), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.
Healthcare Packaging Market: Growth Drivers
Pharmaceutical industry development in emerging nations to drive market growth.
The governments of developing countries like China and India are working hard to improve pharmaceutical manufacturing skills and boost local drug output. These nations' expanding pharmaceutical industries are boosting the demand for effective packaging solutions. For instance, to meet its customers' needs for pharmaceutical packaging in these nations, Gerresheimer AG constructed two new plastic packaging manufacturing facilities in China and India in 2021. It is projected that the rapidly expanding pharmaceutical sector in emerging countries would greatly expand the global healthcare packaging market.
Strict regulatory reforms likely to affect market expansion.
The market is growing, but there are obstacles, including strict laws, globalization, and other economic variables. For manufacturers, it might be difficult to establish and apply improved procedures for rapidly evolving labels and new regulatory regimes for information and anti-counterfeiting. The pharmaceutical packaging industries constantly face downward pricing pressure from numerous governmental and economic variables. To improve their R&D capabilities and create solutions to problems, packaging businesses are working with doctors to raise awareness of the regulatory, economic, and globalization constraints.
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Global Healthcare Packaging Market: Segmentation
The global healthcare packaging market is segregated based on package format, material type, end-use, and region.
The market is divided into flexible and rigid packaging based on package format. Between them, the rigid packaging segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Trays, boxes, clamshells, blisters, bottles, jars, containers, aerosol cans, ampoules, and vials are essential supplies for all medical facilities worldwide because of their great demand.
Based on material type, the global healthcare packaging market is divided into plastic, metal, glass, and paper & paper board. In 2021, the plastic category dominated the global market. The most lucrative material for manufacturers worldwide is plastic. Since recyclable polymers like polyethylene and polyethylene terephthalate are frequently employed to create sustainable healthcare packaging solutions, plastic is expected to present an additional possibility.
Based on end use, the market is divided into pharma & biological, medical supply, and medical equipment. In 2021, the medical equipment category dominated the global market. The packaging industry is frequently challenged to develop high-quality, anti-microbial packaging as a result of the technological advancements in the medical device sector.
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List of Key Players in Healthcare Packaging Market:
Klöckner Pentaplast Europe GmbH & Co. KG
Key questions answered in this report:
What are the growth rate forecast and market size for Healthcare Packaging Market?
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By Product Type, By Application, And By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Amcor plc, Gerresheimer AG., DS Smith Plc, Huhtamäki Oyj, Berry Global, Inc., Sonoco Products Company, Sealed Air Corporation, Constantia Flexibles Group GmbH, Winpak Ltd., CCL Industries Inc., 3M Company, Dunmore Corporation, Toray Plastics . Inc., WestRock Company, Mondi Group, BillerudKorsnäs AB, Ball Corporation, Honeywell International, Klöckner Pentaplast Europe GmbH & Co. KG, Avery Dennison Corporation and other players.
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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Amcorplc introduced a recyclable thermoform blister packaging style in April 2021 . It is meant to adhere to the strict regulations governing pharmaceutical packaging while providing a more environmentally friendly option.
North America dominated the healthcare packaging market in 2021.
The global healthcare packaging market is divided into geographic regions: North America , Latin America , Europe , Asia Pacific , Middle East , and Africa . North America is anticipated to govern the global market during the forecast period. Although both the United States and Canada are developed nations with thriving economies, aging population segments, and cutting-edge medical delivery systems, the populations of the two nations differ noticeably in terms of size, healthcare spending intensity, aggregate gross domestic product (GDP) levels, and health insurance plan structure. The United States is one of the largest geographical markets for healthcare packaging products due to its advanced primary medical community, extensive medical & life science research activities, high healthcare spending intensity, and sizable pharmaceutical and medical. The Asia Pacific market is anticipated to develop at the highest CAGR during the projected period. The most populous area in the world, Asia-Pacific is expected to grow faster than any other region-level market. Countries like India and China are anticipated to have strong growth in the healthcare packaging market due to the growing developmental activities and rapid economic expansion.
Global Healthcare Packaging Market is segmented as follows:
Healthcare Packaging Market: By Packaging Format Outlook (2022-2028)
Healthcare Packaging Market: By Material Type Outlook (2022-2028)
Healthcare Packaging Market: By End Use Outlook (2022-2028)
Healthcare Packaging Market: By Region Outlook (2022-2028)
Rest of Middle East & Africa
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