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Healthcare Packaging Market Outlook 2024: Exclusive Report By The Business Research Company
Healthcare Packaging Market
The Business Research Company offers in-depth market insights through Healthcare Packaging Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The healthcare packaging market size has grown strongly in recent years. It will grow from $112.99 billion in 2023 to $119.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to consumer expectations, environmental awareness, patient-centric designs, drug safety concerns, regulatory changes..
The healthcare packaging market size is expected to see strong growth in the next few years. It will grow to $156.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rise in pharmaceutical demand, advanced serialization and traceability, aging population dynamics, customization and personalization, remote healthcare and telemedicine.. Major trends in the forecast period include sustainable packaging, smart packaging solutions, child-resistant packaging, personalized packaging, antimicrobial packaging..
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Market Segmentation:
The healthcare packaging market covered in this report is segmented -
1) By Product: Bottles And Containers, Vials And Ampoules, Cartridges And Syringes, Pouches And Bags, Blister Packs, Tubes, Paper Board Boxes, Caps And Closures, Labels, Other Products
2) By Packaging Format: Flexible Packaging, Rigid Packaging
3) By Material Type: Glass, Plastic, Metal, Paper And Paperboard
4) By Drug Delivery Mode: Oral, Injectable, Dermal And Topical, Inhalable, Other Drug Delivery Modes
5) By End-User: Pharmaceutical, Medical Devices
Major Driver - Thriving Pharmaceutical Business Propels Growth In The Healthcare Packaging Market
The growth of the pharmaceutical business is expected to propel the growth of the healthcare packaging market going forward. Healthcare packaging is essential for the safe and effective delivery of pharmaceutical products, protecting them from external factors that can compromise their quality. As the pharmaceutical industry grows and innovates with new drug development, the demand for advanced and specialized healthcare packaging solutions also increases. This drives market growth for healthcare packaging by creating opportunities for packaging manufacturers to develop new and innovative solutions to meet the evolving needs of the pharmaceutical industry. For instance, in June 2022, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based trade association and lobbying organization, in 2021, North America accounted for 49.1 percent of global pharmaceutical sales, compared to Europe's 23.4 percent. And the pharmaceutical business spent more than $43.15 (€39,600 million) on research and development in Europe in 2020. These numbers are expected to rise in the future. Therefore, the growth of the pharmaceutical business in emerging markets is driving the healthcare packaging market going forward.
Competitive Landscape:
Major companies operating in the healthcare packaging market report are Gerresheimer AG, Winpak Ltd., Amcor plc, Sonoco Products Company, Huhtamaki Oyj, CCL Industries Inc., Sealed Air Corporation, Berry Global Inc., Dunmore Corporation, Nipro Corporation, Schott AG, Shandong Medicinal Glass Co. Ltd., Arab Pharmaceutical Glass Company, Mondi Group, Ball Corporation, Honeywell International Inc., Klockner Pentaplast Europe GmbH & Co. KG, Corning Incorporated, SGD SA, Stölzle-Oberglas GmbH, AptarGroup Inc., West Pharmaceutical Services Inc., Constantia Flexibles Group, TekniPlex India Ltd., Comar LLC, Beacon Converters Inc., Origin Pharma Packaging Ltd. .
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Top Trend - Advanced Lidding Technology For Healthcare Packaging Applications
Technological advancement is a key trend gaining popularity in the healthcare packaging market. Major companies operating in the healthcare packaging market are adopting new technologies to sustain their position in the market. For instance, in August 2021, Amcor Plc., an Australia-based product packaging company, launched lidding technology for healthcare packaging applications. This packaging solution is based on a laminate and inert film development that is patent-protected. This technology is used for devices that use an active pharmaceutical ingredient (API) to form the basis of medicine. Moreover, it endures heat sterilization without affecting the drug uptake into the medicine and offers machinability, integrity, post-sterilization, and ease of opening for patients. Lidding technology is primarily used for combination healthcare products such as contact lenses.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Healthcare Packaging Market Characteristics
3. Healthcare Packaging Market Trends And Strategies
4. Healthcare Packaging Market - Macro Economic Scenario
5. Healthcare Packaging Market Size And Growth
…..
27. Healthcare Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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