Healthcare Packaging Market Is Booming Worldwide with Prominent Players – Gerresheimer AG, Corning Incorporated, Nipro Corporation, SGD SA

MarketInsightsReports has published a report entitled Global Healthcare Packaging Market Research Report 2021 that is a detailed observation of several aspects, including the rate of growth, technological advances and various strategies implemented by the main current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.

The healthcare packaging market was valued at USD 117.36 billion in 2019, recording a CAGR of 6.35% over the forecast period from 2020 to 2025.

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Key Market Players: Gerresheimer AG, Corning Incorporated, Nipro Corporation, SGD SA, Stšlzle-Oberglas GmbH, Bormioli Pharma SRL, Schott AG, Shandong Medicinal Glass Co. Ltd, Beatson Clark PLC, Arab Pharmaceutical Glass Co, Piramal Glass Pvt Ltd, i_ecam Group  and Other

Industry News and Updates:

- February 2020 - West Pharmaceutical Services, Inc. introduced several new, innovative pharmaceutical containment and closure offerings at Pharmapack, France. The company launched two AccelTRA component line extensions, a Flip-Off Seal container closure system (CCS) compatible with the 5mL Daikyo Crystal Zenith vial, and the new Ready Pack system with SCHOTT's adaptiQ platform.
- January 2020 - Gerresheimer AG launched Gx Elite top-quality injection vials for more excellent patient safety. These high-end tubular glass vials are Gerresheimers' response to increasingly stringent customer demands and expectations on the pharmaceutical market, including higher demands for patient safety.

Key Market Trends

Blister Packs are Expected to Witness Significant Growth

- Blister packages are one of the most popular and convenient dosing formats. The major companies that operate in the healthcare packaging industry provide non-PVC barrier blister packaging, which assists medical and pharmaceutical companies in meeting sustainability objectives and shelf-life requirements, and offers an economical alternative, compared to traditional market offerings. Blister packs are used for medical instruments or devices, such as catheters and injection syringes. However, applications of blister packs in medical device packaging are lesser than their applications in pharmaceutical product packaging.
- The occurrence of new diseases calls for better population health management. further, the emergence of informed customers and the growth of OTC (over-the-counter) drugs have augmented the growth of blister packaging in the pharmaceutical industry. Blister packaging has gained popularity to protect medication from moisture. Aligning to these trends, companies, like Burgopak and Ecobliss, have developed original blister packaging that is child-proof. The rising compliances by FDA, such as the CPG Sec. 450.500, which requires providing visible evidence to consumers that tampering has occurred, have been driving the need for tamper-evident packaging.
- This has enabled security throughout the products lifecycle, including after purchase by a consumer. Thus, blister packaging being the most used form of TEP (Tamperevident Packaging), has found an increased demand across the healthcare industry. Regulations related to child-proof packaging are also being implemented across regions, non-compliance, which may lead to medical recall and damage the reputation of drug manufacturers.
- New product launches by pharmaceutical and medical device manufacturers are expected to aid market growth. For instance, in June 2019, Amcor partnered with GSK to develop an enhanced moisture barrier blister pack, which protects its Pakistani markets antibiotic against the hot climate. It also worked with machine manufacturer CAM-Partena, to develop a solution based on the Formpack Dessiflex Ultra, a desiccated blister system with a special lidding foil. In October 2019, Activ-Blister packaging solution, developed by Aptar Group for oral solid dose drug delivery, was approved by the US Food and Drug Administration (FDA) as an HIV prevention medicine. The system protects oral solid drug products with a 3-Phase Activ-Polymer solution that is fully integrated into the blister package.

North America is Expected to Dominate the Market

- The United States and Canada are countries that are developed with prosperous economies, aging population segments, and advanced medical delivery systems, but the countries vary measurably in population size, healthcare spending intensities, aggregate gross domestic product (GDP) levels, and the structure of health insurance plans. With advanced primary medical community, extensive medical and life science research activities, high healthcare spending intensity, and large pharmaceutical and medical supply and device industries, the United States account for one of the world's largest geographical markets for healthcare packaging products.
- The United States also dominates the pharmaceutical market, both in consumption and development. According to STAT, prescription drug spending in the country is considered to increase to USD 600 billion by 2023, up from an estimated USD 500 billion in 2019, which is further expected to drive the market for pharmaceutical glass packaging in the country. Additionally, as the United States is facing costly pharmaceutical imports from other countries than Canada, the US government authorized a pilot project for wholesalers and pharmacists to import versions of FDA-approved medicines from Canada.

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What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global Healthcare Packaging market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Healthcare Packaging market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Healthcare Packaging market.

Market Segments: This part of the report discusses product type and application segments of the global Healthcare Packaging market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approaches Healthcare Packaging used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format

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How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc.MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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