Healthcare Packaging Market Size, Share, Growth, Forecast 2030

Healthcare Packaging Market Size And Industry Analysis

The global healthcare packaging market size was worth USD 124.10 billion in 2021 and is estimated to grow to USD 177.03 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.10 percent over the forecast period.

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The report analyzes the healthcare packaging market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the healthcare packaging market.

Healthcare Packaging Market: Overview

Although healthcare packaging has several noteworthy aspects, its main purpose is to protect a packaged medical gadget or pharmaceutical product. Healthcare product packaging aims to uphold the strictest medical standards and norms while also safeguarding the integrity of the product because healthcare products may have specific requirements and are frequently sterilized before packing. Throughout its shelf life, the product should remain stable in the packaging. Businesses in the healthcare packaging industry are expanding their capacity to produce COVID-19 vaccination vials.

To ensure that vials arrive swiftly, safely, and in a manner that is simple to use for filling procedures, they are stepping up their efforts to send vials to vaccine manufacturers. Pharmaceutical filling plants receive vials in plastic tubs from packaging makers. The production and packaging procedures used in the pharmaceutical and medical device sectors strongly emphasize safety and sustainability. To combat the sale of fake medications and medical equipment, traceability laws have been implemented throughout the healthcare industry.

One of the most pervasive developments in the provision of medical and surgical equipment is the rise of disposable kits. Market expansion is impacted by strict laws, globalization, and other economic considerations. For manufacturers, it might be difficult to establish and apply improved procedures for rapidly evolving labels and new regulatory regimes for information and anti-counterfeiting. Regarding economic concerns, pharmaceutical packaging industries constantly face downward pricing pressure from numerous governmental and economic variables.

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COVID-19 Impact:

All manufacturing and providing activities aside from those necessary had to stop due to the COVID-19 epidemic, which forced most nations to impose a lockdown. Pharmaceutical drugs, supplies, and food & drink were essential services. Pharmaceutical product production and supply were permitted despite the pandemic. In addition, the pharmaceutical business recently saw the biggest demand for life-saving medications, vaccinations, and medical supplies. The demand for pharmaceutical and healthcare products led to fast growth in packaging options for those products. As a result, manufacturers were forced to enhance their manufacturing capacities immediately. After the pandemic is ended, the market for healthcare packaging as a whole is anticipated to expand at a healthy rate throughout the forecast period.

Key Insights

• As per the analysis shared by our research analyst, the healthcare packaging market value is expected to grow at a CAGR of 6.10% over the forecast period.
• In terms of revenue, the global healthcare packaging market size was valued at around USD 124.10 billion in 2021 and is projected to reach USD 177.03 billion by 2028.
• The growing technological advancements in the healthcare industry and the growing need for cost-effective solutions across the globe are the major factors driving the market's growth.
• By packaging format, the rigid packaging category dominated the market in 2021.
• By material type, the plastic category dominated the market in 2021.
• North America dominated the healthcare packaging market in 2021.

Healthcare Packaging Market: Growth Drivers

Pharmaceutical industry development in emerging nations to drive market growth

The governments of developing countries like China and India are working hard to improve pharmaceutical manufacturing skills and boost local drug output. These nations' expanding pharmaceutical industries are boosting the demand for effective packaging solutions. For instance, to meet its customers' needs for pharmaceutical packaging in these nations, Gerresheimer AG constructed two new plastic packaging manufacturing facilities in China and India in 2021. It is projected that the rapidly expanding pharmaceutical sector in emerging countries would greatly expand the global healthcare packaging market.

Healthcare Packaging Market: Restraints

Strict regulatory reforms likely to affect market expansion

The market is growing, but there are obstacles, including strict laws, globalization, and other economic variables. For manufacturers, it might be difficult to establish and apply improved procedures for rapidly evolving labels and new regulatory regimes for information and anti-counterfeiting. The pharmaceutical packaging industries constantly face downward pricing pressure from numerous governmental and economic variables. To improve their R&D capabilities and create solutions to problems, packaging businesses are working with doctors to raise awareness of the regulatory, economic, and globalization constraints.

Healthcare Packaging Market: Segmentation

The global healthcare packaging market is segregated based on package format, material type, end-use, and region.

The market is divided into flexible and rigid packaging based on package format. Between them, the rigid packaging segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Trays, boxes, clamshells, blisters, bottles, jars, containers, aerosol cans, ampoules, and vials are essential supplies for all medical facilities worldwide because of their great demand.

Based on material type, the global healthcare packaging market is divided into plastic, metal, glass, and paper & paper board. In 2021, the plastic category dominated the global market. The most lucrative material for manufacturers worldwide is plastic. Since recyclable polymers like polyethylene and polyethylene terephthalate are frequently employed to create sustainable healthcare packaging solutions, plastic is expected to present an additional possibility.

Based on end use, the market is divided into pharma & biological, medical supply, and medical equipment. In 2021, the medical equipment category dominated the global market. The packaging industry is frequently challenged to develop high-quality, anti-microbial packaging as a result of the technological advancements in the medical device sector.

Recent Developments

• Amcor plc introduced a recyclable thermoform blister packaging style in April 2021. It is meant to adhere to the strict regulations governing pharmaceutical packaging while providing a more environmentally friendly option.

Healthcare Packaging Market: Report Scope

Healthcare Packaging Market: Competitive Landscape

Key players in the global healthcare packaging market include 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 . Inc., WestRock Company, Mondi Group, BillerudKorsnäs AB, Ball Corporation, Honeywell International, Klöckner Pentaplast Europe GmbH & Co. KG, Avery Dennison Corporation and other players.

Healthcare Packaging Market: Regional Landscape

North America dominated the healthcare packaging market in 2021

The global healthcare packaging market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is anticipated to govern the global market during the forecast period. Although both the United States and Canada are developed nations with thriving economies, aging population segments, and cutting-edge medical delivery systems, the populations of the two nations differ noticeably in terms of size, healthcare spending intensity, aggregate gross domestic product (GDP) levels, and health insurance plan structure.

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The United States is one of the largest geographical markets for healthcare packaging products due to its advanced primary medical community, extensive medical & life science research activities, high healthcare spending intensity, and sizable pharmaceutical and medical. The Asia Pacific market is anticipated to develop at the highest CAGR during the projected period. The most populous area in the world, Asia-Pacific is expected to grow faster than any other region-level market. Countries like India and China are anticipated to have strong growth in the healthcare packaging market due to the growing developmental activities and rapid economic expansion.

Healthcare Packaging Market: Competitive Space

The global Healthcare Packaging market profiles key players such as:

• 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 . Inc
• WestRock Company
• Mondi Group
• BillerudKorsnäs AB
• Ball Corporation
• Honeywell International
• Klöckner Pentaplast Europe GmbH & Co. KG
• Avery Dennison Corporation

The global healthcare packaging market is segmented as follows:

By Packaging Format     

• Flexible Packaging
• Rigid Packaging

By Material Type

• Plastic
• Metal
• Glass
• Paper & Paper Board

By End Use        

• Pharma & Biological
• Medical Supply
• Medical Equipment

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa