Changing lifestyle of people and the increase in chronic diseases with the aging population are the major drivers that are increasing the healthcare packaging market growth at a rapid speed.
According to the current analysis of Introspective Market Research, the global Healthcare Packaging market was valued at USD 164.23 Billion in 2019 and is expected to reach USD 237.71 Billion by the year 2026, at a CAGR of 5.48%.
Rising consciousness about the health and the increasing demand for the plastic packaging is surging the growth for the healthcare packaging market. Also, the industry giants heavily investing the research and development in healthcare sector has surged the market growth with the manufacturers rising demand for the packaging products. The packaging industry is segmented into medical packaging and pharmaceutical packaging with various packing type. Among them, one of it is primary packaging and other is secondary packaging that has large share for the market. Primary packaging means having a direct contact with the product and that protects the product from the chemical antibodies, climatic conditions and medical hazards such as caps and bottles for the drugs. Secondary packaging is the packaging that comes in the form of bags, pouches, polyethene and paper bags which are visible to the customer.
According to the analyst, based on the product and material type; the market has been segmented into bags, pouches, pre-fillable syringes and inhalers, medication tubes and many other forms for pharmaceutical packaging. And, for the material type the market has been divided into plastics and polymers, paper and paperboards, aluminum foil & glass and others. From which, the paper and paperboards are expected to have a large market share in the forecast period due to the less environmental hazards produced by them. The government strict rules and regulations for the safety of environment and quality of the product has decreased the demand for the plastics and polymers and increased for the paper and paperboards.
The Global Healthcare Packaging market is segmented by Packaging Type (Pharmaceutical Packaging and Medical Packaging), by Material Type (Polymer, Paper & Paper Board, Non-Woven Fabric, Glass and Others), by Packing (Primary Packaging, Secondary Packaging and Tertiary Packaging), by End-User (Pharmaceutical, Medical Devices, and In-Vitro Diagnostic Products). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- The major industry players like Avery Dennison Corporation and E. I. Du Pont De Nemours are investing heavily in the development of the packaging style like bag and pouches to increase the revenue of the company.
- In 2019, the United States witnessed approximately USD 168 billion-unit sales for the healthcare packaging.
- Increasing demand for the nutritional foods and the rise in surgical operations, increased chronic disease and the increasing ageing population are the growth factors that are propelling the market rate.
- Growing GDP, changing lifestyles of the consumers and increasing economies of the developing countries like China, India, Japan, Korea, and Thailand is enhancing the growth for the healthcare packaging market.
Key Participants include Bemis Company, Avery Dennison Corporation, 3M Company, E.I. Du Pont De Nemours, Uhlmann Pac-Systeme GmbH & Co., Kg CCL Industries Inc., Constantia Flexibles Group GmbH, Sonoco Products Company, Steripack Contract Manufacturing, Thomas Packaging LLC, and Rollprint Packaging Products Inc and many others.
For this report, Introspective Market Research have segmented the Global Healthcare Packaging markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM