Packaging and Labeling (Healthcare) Services Market to Reach US$136.2 bn by 2023 due to Expansion of Medical Device Industry

Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report titled “Packaging and Labeling (Healthcare) Services Market - (Packaging Type - Primary Packaging (Blisters, Bottles, Pouches, Tubes, and Others) and Secondary Packaging (Labeling and Cartoning)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.” The report, by Transparency Market Research (TMR), states that the global packaging and labeling (healthcare) services market stood at US$84.6 bn in 2014 and is predicted to reach US$136.2 bn by 2023, by expanding at a 5.30% CAGR from 2015 to 2023.

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The report begins by presenting the introduction of the market and throws light on the major dynamics shaping the growth of this market. Packaging is a process comprising the assembling and filling, sterilization, and placing of labels on containers. The type of packaging products are dependent on factors such as the required degree of protection, incurred cost, and filling method. Packaging is of utmost importance as it prevents the microbial growth and also enables a longer shelf life of pharmaceutical drugs.

As per the report, the expansion of the medical device and pharmaceutical industries and the growing demand for anti-counterfeiting drug packaging products and technologies are amongst the key factors boosting the growth of the packaging and labeling (healthcare) services market. In addition, the stringent standards implemented on labeling and packaging and strict regulations by governments globally are also supporting the development of the market. The growing demand for packaging and labeling services within developed nations and the rising penetration of nano- enabled pharmaceutical packaging are the major opportunities seen in this market. However, the complex procedures of registration may pose a negative impact on the growth of this market.

On the basis of packaging type, the report segments the market for packaging and labeling (healthcare) services into primary packaging and secondary packaging. Primary packaging is further segmented into bottles, blisters, tubes, pouches, and others, while secondary packaging is further segmented into cartooning and labeling. Of these, the segment of primary packaging led the market in 2014 and is predicted to maintain its dominance all through the forecast horizon. The segment of bottles within primary packaging constituted the largest share in the market in the same year.

By product type, the market is segmented into solid, liquid, and semi-solid dosage forms. Of these, solid dosage forms are further segmented into capsules, tablets, powder, and granules. Liquid dosage forms are further segmented into eye or ear drops, aerosols, and syrups, while semi-solid dosage forms are further segmented into ointments, creams, and suppositories.

Geographically, the report segments the market into Europe, North America, Latin America, Asia Pacific, and Rest of the World (RoW). Amongst these, in 2014, Europe held the largest share in the market owing to the increasing technological advancements in labeling and packaging machines. On the other hand, Asia Pacific is poised to experience the swiftest growth rate in the forecast horizon owing to soaring investments by the major players dominant within this region.

Browse Full Global Packaging and Labeling (Healthcare) Services Market Report with TOC:http://www.mrrse.com/packaging-labeling-services-market

As stated in the report, the prominent players operating in the global packaging and labeling (healthcare) services market are Amcor Ltd., CCL Industries, Inc., Gerresheimer AG, SCHOTT AG, and WestRock Company, among others.

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This release was published on openPR.