The global healthcare packaging market size was valued at USD 140.4 Billion in 2022 and is expected to reach USD 200.8 Billion by 2031, expanding at a CAGR of 4.10% during the forecast period, 2023-2031. The growth of the market is attributed to the increasing demand for medical devices and pharmaceutical products, increased incidence of ailments, and growing demand for convenient packaging solutions.
Healthcare packaging assists in shielding healthcare products from any kind of chemical deterioration by preventing exposure to moisture, temperature, oxygen, and light fluctuations. Healthcare packaging ensures products remain in stable condition throughout their shelf life and provides information about the packaged products.
The need for sustainable packaging arises from the regulatory pressure on pharmaceutical packaging companies. Medical guidelines and standards regarding healthcare packaging safeguard the probity of healthcare products to serve their unique sterilization and specifications requirements. Pharmaceutical packaging is growing within the scope of required sustainability legislation.
Numerous types of pharmaceutical packaging are often not recyclable and companies that use non-recyclable packaging are subject to proposed extended producer responsibility taxes and penalties. Healthcare packaging has several functions, the most crucial is to secure packaged medical and pharmaceutical products.
The packaging of pharmaceutical products requires special attention and care. The safety of drugs is an important element to be recognized in all packaging methods. Packaging materials are selected as per the requirement of the products or medicines so that the products reach the customers in a proper and stable condition.
COVID-19 Impact on Healthcare Packaging Market
The healthcare packaging market was positively impacted by the COVID-19 pandemic. Various governments around the globe implemented lockdowns and bans on logistics which impeded supply chains and distribution channels. However, it propelled some industries, especially healthcare and diagnostics.
Visits to stores and pharmacies significantly reduced during the COVID-19 pandemic and thus sales through e-commerce websites increased, keeping the market in stable condition. The COVID-19 vaccination programs around the world increased the demand for rapid packaging development.
Manufacturers in the healthcare packaging market were working expeditiously to enhance their production in lids, tubs, inserts, and trays that helped in the distribution of coronavirus vaccines and test kits. Packaging companies played an important role to ensure that medical supplies were packaged and transported safely and quickly to their desired locations.
Companies in the healthcare packaging market increased their manufacturing capacity of COVID-19 vaccine vials. They have also shown their increasing efforts to distribute vials to vaccine makers to ensure they arrive safely and quickly for filling processes. The packaging manufacturers were shipping vials in plastic tubs to pharmaceutical filling plants.
Significant rise in the sales of anesthetics, antibiotics, nutraceuticals, muscle relaxants, and dietary supplements around the world during the coronavirus disease (COVID-19) outbreak which has positively impacted the need for healthcare packaging across the globe. Healthcare companies are investing abundantly in advanced machines to enhance packaging speed and improve efficiency.
Healthcare Packaging Market Dynamics
The research report presents a complete overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The healthcare packaging market report has up-to-date insights about market dynamics and market scenarios that can shape the overall market performance and output during the forecast period, 2023 to 2031.
Key Trends
Healthcare companies are making huge investments in advanced equipment and machines to enhance packaging efficiency, production speed, and to provide high-quality healthcare packaging solutions. IoT, digital and blockchain technology allow business units to connect appliances to smart devices, troubleshoot and report errors, optimize operations, and record data across the supply chain process is expected to propel the demand of the healthcare packaging market during the forecast period.
Drivers
Consumerism is a crucial change in the healthcare packaging market. New trends such as telemedicine, patient portals, and emergency care clinics are creating revenue paths for packaging companies.
Manufacturers are working vigorously to meet modern consumer expectations. Developments in packaging techniques are giving rise to various formats for medicine dosages such as transdermal patches, single-use swabs, and advanced tablet designs.
New formats for medicine are emerging as an alternative solution to traditional drug delivery to suit modern consumer behavior. The adoption of innovative packaging materials and techniques is anticipated to propel the market growth during the forecast period.
Restraints
Environmental concerns regarding packaging raw materials act as a major challenge. The pharmaceutical packaging industry faces several challenges due to the delicate nature of raw materials or products.
Inadequate packaging cause chemical changes in medicine, affects its healing ability, ineffective performance, and several properties. Moreover, regulatory concerns, supply chain disruptions, and counterfeit products are anticipated to hamper the market growth during the forecast period.
Opportunities
Continuous research and development activities are being carried out by manufacturers in the healthcare packaging industry to create sustainable healthcare packaging solutions which can create new opportunities for the global market.
Favorable government policies and investments are increasing in research and development activities that offer growth opportunities for market players. Consistent developments in pharmaceutical and medical devices provide wide scope for the expansion of the healthcare packaging market across the globe.
Governments of developing countries are making continuous efforts to improve their pharmaceutical manufacturing capabilities and increase their domestic drug production to cater to the required demand of the rising population. The pharmaceutical industry in developing countries is expected to boost the need for efficient packaging solutions.
Scope of Healthcare Packaging Market Report
The report on the global healthcare packaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Healthcare Packaging Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Material (Plastic, Metal, Glass, and Paper & Paper Board), Product (Bottles & Containers, Vials & Ampoules, Cartridges & Syringes, Pouches & Bags, Blister Packs, Tubes, Paper Board Boxes, Caps & Closures, Labels, and Others), and Application (Pharmaceutical, Medical Devices, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Winpak Ltd.; WestRock Company; Toray Plastics (America). Inc.; Airnov; Sonoco Products Company; OLIVER; Sealed Air Corporation; Mondi Group; Klöckner Pentaplast Europe GmbH & Co. KG; Huhtamäki Oyj; Honeywell International; Bemis Healthcare Packaging, Inc.; Gerresheimer AG.; Dunmore Corporation; DS Smith Plc; Constantia Flexibles Group GmbH; CCL Industries Inc.; BillerudKorsnäs AB; Berry Global; Inc.; Ball Corporation; Avery Dennison Corporation; Amcor plc; 3M Company; and Others
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Healthcare Packaging Market Segment Insights
Material Segment Analysis
Based on material, the global healthcare packaging market is divided into plastic, metal, glass, and paper & paper board. The plastic segment is expected to expand at a robust growth rate during the forecast period, owing to it its durability, continuous innovation, and low cost.
Moreover, plastic packaging in the healthcare industry is easy to handle compared to alternative packaging solutions available in the market. Plastic packaging is preferred by consumers as it is not fragile.
Product Segment Analysis
On the basis of product, the healthcare packaging market is segregated into bottles & containers, vials & ampoules, cartridges & syringes, pouches & bags, blister packs, tubes, paper board boxes, caps & closures, labels, and others.
The blister packs segment is projected to register a considerable CAGR during the forecast period, owing to its popularity for convenient dosage formats. Blister packs are highly used in medical devices and instruments including subcutaneous syringes and catheters.
Blister packs are more useful in packaging pharmaceutical products than medical devices. The rapid growth of over-the-counter drugs resulting the growth of blister packaging in the pharmaceutical industry. Blister packaging has gained immense popularity to protect medication from any kind of moisture in the environment.
Application Segment Analysis
Based on application, the global healthcare packaging market is segmented into pharmaceuticals, medical devices, and others. The pharmaceutical segment is expected to be the fastest growing during the forecast period, owing to wide uses in the pharmaceutical industry to protect and preserve product quality.
Packaging helps in maintaining the controlling environmental conditions, sterility of products, and preventing product contamination. It aids in the identification of products and accurate dosage delivery. Pharmaceutical companies are rapidly adopting advanced packaging technologies to improve their product offerings worldwide.
The medical devices segment is anticipated to hold a significant market share during the forecast period, due to its extensive uses in the healthcare market. Medical devices such as stents, surgical equipment and supplies, stents, hip implants, pacemakers, dental implants, pacemakers, and others.
These devices need to be packaged properly before they reach hospitals or other medical centers for use by patients. The packaging of medical devices involves sterilization and cleaning which aids to ensure that the device is free from any contamination during storage and transportation.
Regional Analysis
In terms of region, the healthcare packaging market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is expected to dominate the market during the projected period, owing to well-developed healthcare systems, reliable packaging solutions, health insurance, and good gross domestic product (GDP) levels.
The market in Latin America is anticipated to expand at a rapid pace during the forecast period, owing to growing awareness about safety and hygiene among consumers, along with an increasing number of clinics, hospitals, diagnostic labs/centers, nursing homes, research institutes and improved as well as efficient medical facilities across the region.
The continuous technological developments and rapid urbanization in the region are the key factors driving the market in Latin America.
Segments
The global healthcare packaging market has been segmented on the basis of
Material
- Plastic
- Metal
- Glass
- Paper & Paper Board
Product
- Bottles & Containers
- Vials & Ampoules
- Cartridges & Syringes
- Pouches & Bags
- Blister Packs
- Tubes
- Paper Board Boxes
- Caps & Closures
- Labels
- Others
Application
- Pharmaceutical
- Medical Devices
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Player
- Winpak Ltd.
- WestRock Company
- Toray Plastics (America). Inc.
- Airnov
- Sonoco Products Company
- OLIVER
- Sealed Air Corporation
- Mondi Group
- Klöckner Pentaplast Europe GmbH & Co. KG
- Huhtamäki Oyj
- Honeywell International
- Bemis Healthcare Packaging, Inc.
- Gerresheimer AG.
- Dunmore Corporation
- DS Smith Plc
- Constantia Flexibles Group GmbH
- CCL Industries Inc.
- BillerudKorsnäs AB
- Berry Global, Inc.
- Ball Corporation
- Avery Dennison Corporation
- Amcor plc
- 3M Company
- Others
Competitive Landscape
Key players competing in the global healthcare packaging market are Winpak Ltd.; WestRock Company; Toray Plastics (America). Inc.; Airnov; Sonoco Products Company; OLIVER; Sealed Air Corporation; Mondi Group; Klöckner Pentaplast Europe GmbH & Co. KG; Huhtamäki Oyj; Honeywell International; Bemis Healthcare Packaging, Inc.; Gerresheimer AG.; Dunmore Corporation; DS Smith Plc; Constantia Flexibles Group GmbH; CCL Industries Inc.; BillerudKorsnäs AB; Berry Global; Inc.; Ball Corporation; Avery Dennison Corporation; Amcor plc; 3M Company; and Others.
Some of these players have adopted a series of business development strategies including merger and acquisition, entering into partnerships and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
- In May 2022, Gerresheimer AG signed a contract with ISR, a drug development company, for the production of a large-scale nasal inhaler IcoOne for Phase III trials of the dry powder COVID-19 vaccine. Gerresheimer is a partner in pharmaceuticals, healthcare, and cosmetics, and provides a wide range of products for pharmaceutical, healthcare, and cosmetic packaging solutions and drug delivery systems.
- In January 2022, West Pharmaceutical Services, Inc., it is a provider of innovative injectable drug delivery solutions, announced an exclusive supply and technical agreement with Corning Incorporated. New collaboration extends Corning's Valor Glass technology, which enables the advanced injectable packaging and delivery systems for the pharmaceutical industry to enhance patient safety and increase access to life-saving therapies.
- In April 2021, Amcor announced custom trials for the first recyclable polyethylene-based thermoform blister packaging. This new packaging is estimated to launch in the market in the mid of 2022, which is basically designed to meet the stringent standards of specialized and regulated pharmaceutical packaging while offering a sustainable alternative solution to the in-demand healthcare packaging types. In comparison to other packaging options as the packaging has a carbon footprint of up to 70%.
- In September 2021, Jones Healthcare Group and Good-Natured Products Inc. partnered for the expansion of sustainable packaging solutions at a new and innovative one. With this new plant-based solution, Jones will streamline packaging design, eliminate concerns about chemicals, and make packaging easier to recycle in most homes in North America. Materials for this new custom blister pack are available from independent national chain pharmacies throughout Canada.
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