According to the latest report by IMARC Group, titled “Healthcare Packaging Market Research: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global healthcare packaging market reached a value of US$ 127.4 Billion in 2021. Healthcare packaging generally involves the utilization of various forms of durable and flexible packaging solutions for protecting healthcare products. It includes safeguarding the medical products from contaminants, ultraviolet rays (UV), temperature, moisture and fluctuations. It is a necessary step to follow in order to preserve their integrity after sterilization. Due to the growing demand for medical drugs and devices among healthcare professionals, this is providing a boost to the demand for high-quality healthcare packaging solutions across the globe. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 190.3 Billion by 2027, registering a CAGR of 6.8% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Healthcare Packaging Market Trends:
The global market is primarily driven by significant growth in the healthcare industry. Coupled with the rising investments by private and public agencies to upgrade the existing healthcare infrastructure, this is creating a positive market outlook. Along with this, the advent of new medical drugs and vaccines in the market and continual advancements in healthcare technologies are acting as another major growth-inducing factor. In line with this, the growing demand for testing kits and vaccines on account of the rapid outbreak of coronavirus disease (COVID-19) across the globe has also accelerated the demand for healthcare packaging solutions. Additionally, the development of stringent rules and regulations by the government of several countries in order to prevent tampering during transportation while maintaining the quality of medical products is providing a boost to the product demand. Furthermore, the widespread adoption of smart and eco-friendly packaging solutions due to an enhanced focus on sustainable development is favorably impacting the market growth. Some of the other factors driving the market include the escalating popularity of online pharmacy services and extensive research and development (R&D) activities conducted by key players for introducing improved microbial packaging solutions for enhanced functionality.
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Key Market Segmentation:
Global Pharmaceutical Packaging:
- On the basis of the product, the market has been segmented into plastic bottles, caps and closures, blister packs, pre-fillable syringes, parenteral containers, pre-fillable inhalers, pouches, medication tubes and others.
- Based on the material, the market has been categorized into plastics and polymers, paper and paperboard, glass, aluminum foil and others.
- On the basis of the packaging, the market has been bifurcated into the primary and secondary packaging.
- Based on the drug delivery mode, the market has been segregated into oral, injectable, dermal/topical, inhalable and others.
Global Medical Device Packaging:
- On the basis of the product type, the market has been classified into trays, pouches, clamshell packs and others.
- Based on the material, the market has been segmented into plastic, paper, aluminum, Tyvek and others.
- On the basis of the application, the market has been categorized into sterile and non-sterile packaging.
- Based on the regional insights, the market has been divided into North America, Europe, Asia Pacific, the Middle East and Arica and Latin America. Presently, North America holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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