Healthcare Packaging Market in 2022 - Detailed Analysis Report on Latest Trends and Business Opportunities

The latest report published by Transparency Market Research on the global healthcare packaging market, includes global industry analysis, share, size, growth trends and forecast for 2021-2029. The current value of the global healthcare packaging market is US$ 100 Bn and is anticipated to expand to US$ 155 Bn by the year 2029. Growth of the pharmaceutical industry and high demand for medicinal supplies & drugs have created a positive impact on the healthcare packaging market. The rigid packaging segment is likely to offer a total incremental opportunity of US$ 47 Bn during the forecast period. Plastic is the major material used to manufacture healthcare packaging solutions worldwide.

Healthcare packaging solutions witness a never-ending demand of bags, pouches, envelopes, boxes, clamshells, and bottles & jars. In terms of packaging format, both rigid and flexible packaging formats are in high demand; of these, rigid packaging holds maximum market share as it includes ampoules & vials, aerosol cans, containers, and folding cartons for upgraded packaging needs of the pharmaceutical industry.

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Plastic is the most used material for producing healthcare packaging solutions, due to its lightweight and recyclable and re-usable attributes. Among all materials, plastics such as polyethylene (high-density polyethylene, low-density polyethylene and linear low-density polyethylene), polypropylene, polyethylene terephthalate, polyvinyl chloride, and many other variants of plastics are majorly used. Other materials used in manufacturing healthcare packaging solutions are metal (aluminum, tin), glass, and paper & paperboard.

As per consumption and production of healthcare packaging across continents, North America is anticipated to hold a market share of almost 37% until the year 2029, followed by Europe and Asia Pacific with expected market share of 31% and 23%, respectively. Asia Pacific is projected to offer offering opportunities, due to fast-paced development of medical infrastructure and healthcare facilities in the region, followed by North America during the forecast period.

Rise in Geriatric Healthcare Services Shaping Healthcare Packaging Market

According to the report published in 2020 by the United Nations on 'World Population Ageing', the percentage of the population aged 65 years or over is expected to increase from 9.3% in 2020 to around 16% by 2050. This can be attributed to mainly high life expectancy and decreasing fertility levels. Furthermore, advancements in the healthcare industry have also led to a significant increase in life expectancy across the globe.

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