Healthcare Packaging market is expected to reach USD 265.45 billion by the year 2028

Market Overview:
The Global Healthcare Packaging market was valued at USD 182.72 billion in 2021 and is expected to reach USD 265.45 billion by the year 2028, at a CAGR of 5.48% globally.

Healthcare packaging includes products packaged in various forms such as bags, sacks, trays, and other media. Healthcare packaging includes primary packaging, secondary packaging, and tertiary packaging. It provides several functions such as maintaining longer shelf life, increasing product quality and saving and maintaining human life. Packaging is used to store drugs or drugs manufactured with the intent to treat a disease or disorder. Packaging offers many benefits such as maintaining product stability, protecting products from tampering, contamination, and breakage, and ease of transportation.

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Market Dynamics:
Driver:
Augmenting Prevalence of Chronic Diseases
The increasing aging population and changes in social behavior contributing to the increasing incidence of chronic diseases are the main factors supporting the growth of the market. According to WHO, the prevalence of chronic diseases will increase by 57% by 2020. Governments and individuals want to lead a healthy lifestyle; therefore, several drugs or drugs are available in the market to treat the disease. Packaging is required for each medication to prevent external spoilage and contamination. Due to the rapid increase of chronic diseases, the governments of the regions have researched and developed to come up with new effective drugs for the treatment of chronic diseases to support the growth of the market including health care packaging.

Opportunities:
Growing Pharmaceutical Sectors Across the World
An increasing number of pharmaceutical industries globally present lucrative opportunities to the healthcare packaging market. The approval of a drug by regulatory agencies supports the rise of pharmaceuticals. For example, according to Statista, 50 new drugs have been approved in 2021 by the Centers for Drug Evaluation and Research (CDER), providing a paid opportunity for healthcare packaging. Mergers and acquisitions are on the rise in the pharmaceutical industry, which spurs the development of new drugs. Apart from this technological advancement, it also contributes to the growth of pharmaceuticals, which are expected to provide lucrative opportunities for the healthcare packaging market in the coming year.

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Segmentation Analysis of Healthcare Packaging Market:
By type:
pharmaceutical packaging is expected to dominate the market for healthcare packaging market during the forecast period. The pharmaceutical packaging offers the containment, and presentation of information and helps for the identification of products.

By material type:
the polymer is expected to have maximum market share in the healthcare packaging market share during the projected period. Polymer is also known as plastic. Polymers are durable in nature, free from being fragile, lightweight, and cost-effective.

By packaging:
primary packaging is expected to have high growth in the healthcare packaging market during the projected timeframe. The primary packaging directly or indirectly comes in contact with the product and is also known as retail or consumer packaging.

By end-users:
the pharmaceutical segment is anticipated to have maximum market share in the healthcare packaging market during the projected period. Effective packaging is an important element in the pharmaceutical industry and it protects the drug during storage, transportation, sale, and use.

By Type:
• Pharmaceutical Packaging
• Medical Packaging

By Material Type:
• Polymer
• Paper
• Non-Woven Fabric
• Glass
• Others

By Packaging:
• Primary Packaging
• Secondary Packaging
• Tertiary Packaging

By End-User:
• Pharmaceutical
• Medical Devices
• In-Vitro Diagnostic Products

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Regional Analysis of Healthcare Packaging Market:
North America is anticipated to have the maximum market share of the healthcare packaging market over the projected period. The rising number of healthcare and medical sectors in this region, and the growing demand for healthy and nutritional products in this region are the factors that support the growth of the market.

By Region:
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Top Key Players Covered in Healthcare Packaging Market Are:
• Amcor(Switzerland)
• Baxter (US)
• BD (US)
• Bemis(US)
• Gerresheimer (Germany)
• Schott (Germany), and other major players.

Key Industry Development in Healthcare Packaging Market:
• In January 2021, Gerresheimer announced its plan regards the production of the new plant near Mumbai, India to complete plastic healthcare packaging requirements worldwide. plastic containers, plastic ampoules, plastic bottles, and more in various designs are involved in the product portfolio.
• In January 2020, Gx Elite was launched by Gerresheimer AG. It is a top-quality injection vial for excellent patient safety. The purpose of these high-end tubular glass vials is to meet the customer demands and expectations in the pharmaceutical market, including higher demands for patient safety.

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The Analysis Objectives of the report:
• To identify the main subsegments of the Healthcare Packaging market to comprehend its structure.
• Identifies describes, and analyses the sales volume, value, market share, competitive market landscape, opportunities and threats, and strategic initiatives for the main worldwide Healthcare Packaging manufacturers for the next few years.
• To examine the Healthcare Packaging in terms of specific expected growth, career outlook, and market share contribution.
• Analyze commercial developments in the market, such as market expansions, partnerships, new product development, and mergers.
• To develop a strategic analysis of the main players and a thorough analysis of their strategic planning.

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