Healthcare Packaging Market Growing Pharmaceutical Industry Development In Emerging Economies

According to Precision Business Insights (PBI), the latest report, the healthcare packaging market is expected to be valued at USD 136.2 Billion in 2022, growing at a 7.1% CAGR from 2022 to 2028. The primary driver of the expansion of the global Healthcare Packaging market is the increasing patient population across the globe, continuous development and advancement in the medical sector, and a growing focus on convenience and environmental issues.

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Rigid Packaging Segment to Dominate the Healthcare Packaging Market:
In terms of packaging format, the rigid packaging formats is expected to hold a significant revenue share over the forecasted period owing to the increasing demand for trays, boxes, clamshells, blisters, bottles & jars, containers, aerosol cans, and ampoules & vials, these are essential supplies for all the medicinal services across the world. Moreover, with the increasing medical sector, boosting the demand for rigid packaging products, consequently, the market for healthcare packaging would expect to expand across the globe over the forecasted period.

North America Healthcare Packaging Market:
North America is expected to dominate the global market of healthcare packaging during the forecast period owing to an increase in the aging population, continuous medical advancements such as (cutting-edge medical delivery systems), and the presence of developed nations with thriving economies. The United States is one of the major geographical markets for healthcare packaging products due to its innovative and advanced primary medical community, extensive medical & life science research activities, high healthcare expenditure, and large pharmaceutical and medical sector. The Asia Pacific market is also witnessed to develop at the maximum CAGR during the forecasted period due to the most populous area across the globe, increasing developmental activities, and rapid economic expansion in this region,

Strategic New Product Launches, Mergers, Acquisitions, and Agreement are the key strategies adopted by market players:
The global Healthcare Packaging market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The Healthcare Packaging market is segmented based on packaging format, material type, end-user, and geography.
Based on the packaging format, the market is segmented into the following:
• Flexible packaging
• Rigid Packaging

Based on the material type, the market is segmented into the following:
• Polypropylene
• PET
• Polystyrene
• Polyvinyl Chloride
• Polyamide/EVOH
• Polyurethanes
• Metal
• Glass
• Paper and paper board

Based on the end user, the market is segmented into the following:
• Pharma & Biological
• Medical Supply
• Medical Equipment

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the Healthcare Packaging Market report are 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 (America). Inc., WestRock Company, Mondi Group, BillerudKorsnäs AB, Ball Corporation, Honeywell International, and Klöckner Pentaplast Europe GmbH & Co. KG

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This release was published on openPR.