Packaging and Labeling (Healthcare) Services Market to Witness Increase in Revenues by 2024 - 2031 | Bemis Company, Inc., Sonoco Products Company

Market Overview:

Packaging and labeling services help pharmaceutical and healthcare companies ensure compliance with regulatory requirements. Proper packaging and labeling of medicines and healthcare products is crucial for storage, distribution, identification and information for end-users.

Market Dynamics:

The packaging and labeling (healthcare) services market is expected to witness significant growth over the forecast period owing to increasing adoption of serialization and aggregation. Serialization refers to assigning unique codes to individual packages at the primary, secondary or tertiary packaging levels. Aggregation involves bundling or collecting serialized units together for distribution. Serialization and aggregation enables traceability of products throughout the supply chain and helps tackle issues of counterfeiting and diversion. In addition, growing generic drug markets globally is also expected to drive the need for packaging and labeling services from healthcare companies. Stringent regulatory norms regarding packaging of pharmaceutical products will further push pharmaceutical manufacturers and supply chain entities to outsource packaging and labeling activities to specialized service providers.

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Growing Adoption of Packaging to Increase Products Lifespan

The healthcare packaging market is largely driven by the growing need to increase products' lifespan. Proper healthcare packaging plays a vital role in protecting products from external damage, contamination, and degradation. As product quality and safety are major concerns in the healthcare industry, companies are increasingly adopting sophisticated packaging solutions. Advanced materials and sealing technologies used in healthcare packaging help maintain product sterility and integrity during transportation and storage. They prevent moisture, gas, and microorganism entry that can compromise a product's potency and expiry. With rising chronic disease management needs and a growing aging population demanding medication access globally, the demand for pharmaceuticals and medical devices is surging. This is fueling the adoption of robust packaging solutions across the healthcare value chain to ensure products reach consumers in mint condition.

Increased Regulatory Compliance Requirements Pushing Adoption

Stringent regulations surrounding healthcare product packaging and labeling are another key factor driving market growth. Regulatory bodies worldwide have implemented strict norms to ensure packaging design and information printing meet safety, quality, and traceability standards. Non-compliance can invite penalties and legal liabilities. This pressures companies to integrate advanced automation, serialization, and track-and-trace solutions into their packaging lines. Technologies like radio-frequency identification (RFID) and two-dimensional barcodes are gaining widespread usage to allow item-level tracking of products. They aid real-time monitoring of supply chains and identification of counterfeits. The growing regulatory oversight has made packaging upgrades and customized solutions critical for continued business operations. It is compelling more companies to outsource these activities to professional packaging service providers for guaranteed compliance.

High Cost of In-house Capabilities Hindering Small Players

A major challenge curbing the healthcare packaging and labeling services market potential is the exorbitant cost of deploying in-house packaging capabilities. Developing packaging infrastructure and skilled in-house teams requires massive upfront investments which not all industry players can afford. Especially small-scale traditional medicine producers and startups in developing markets find it difficult to meet regulatory standards and compete with prominent brands due to the high expenses associated with packaging operations management. While contract packagers alleviate this problem by offering pay-per-use services, the initial technology and human resource costs still pose challenges. This restrains smaller players' participation and holds back the market at times from reaching full capacity.

Increasing Demand for RFID and Serialization Services

A major trend gaining prominence in the healthcare packaging services domain is the rising uptake of serialization and radio frequency identification (RFID) line solutions. Spurred by stricter regulations mandating item-level traceability, life sciences players are actively incorporating serialization into their packaging workflows to assign unique IDs to products and monitor individual items throughout the supply chain. Meanwhile, RFID enables capturing more granular data than linear barcodes, allowing real-time, error-free tracking of high-value and temperature-sensitive drugs and devices. Being future-ready technologies, serialization and RFID empower supply chain visibility, inventory accuracy, and anti-counterfeiting. As such, their procurement as standalone services from packaging specialists is surging. Both capabilities are increasingly integrated into end-of-line equipment as well. This will drive steady growth opportunities for RFID and serialization service providers going forward.

Top Companies Featured in This Report:

★ Bemis Company Inc.
★ Sonoco Products Company
★ WestRock Company
★ Schott AG
★ Amcor Limited
★ Owens-Illinois Inc.
★ CCL Industries Inc.
★ DuPont
★ Gerresheimer AG.

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Market Segmentation:

By Product Type:

★ Primary Packaging
★ Bottles
★ Pouches
★ Blisters
★ Tubes
★ Secondary Packaging
★ Labeling
★ Cartooning
★ Solid Dosage Forms
★ Tablets
★ Capsules
★ Granules
★ Powder
★ Semi-solid Dosage Forms
★ Creams
★ Ointments
★ Suppositories
★ Liquid Dosage Forms
★ Syrups
★ Eye/Ear Drops
★ Aerosols
★ Medical Devices

Key Regions/Countries are Classified as Follows:

» 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)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Why Choose Our Comprehensive Market Report:

• Evaluate numerous aspects of the Packaging and Labeling (Healthcare) Services Market outlook through Porter's Five Forces analysis.

• Examine the growth rate and market shares of various product types and applications/end-users within the Packaging and Labeling (Healthcare) Services Market.

• Gain insights into the Packaging and Labeling (Healthcare) Services Market dynamics across different regions.

• Conduct a thorough Covid-19 Impact Analysis using a robust research methodology.

• Stay updated on the latest developments, market shares, and strategies of key players in the Packaging and Labeling (Healthcare) Services Market.

• Delve into a detailed assessment of the market strategies, geographical presence, and business segments of the top players in the Packaging and Labeling (Healthcare) Services Market.

• Anticipate key challenges, product advancements, and potential solutions that may influence the market's progress and risks.

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Key Inquiries Addressed in this Report include:

• What was the size of the Packaging and Labeling (Healthcare) Services Market in 2024, and what is the projected value by 2030?

• What is the present global market landscape for the Packaging and Labeling (Healthcare) Services Market?

• What strategies offer optimal opportunities for growth maximization in the business?

• What recent trends are shaping the Packaging and Labeling (Healthcare) Services Market?

• How does the market share of Packaging and Labeling (Healthcare) Services Market revenue, sales, and size vary across specific geographical regions?

• Who are the prominent industry players in the Packaging and Labeling (Healthcare) Services Market?

• Which segment of the Packaging and Labeling (Healthcare) Services Market is experiencing heightened demand?

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