Healthcare Packaging Market, By Product Type (Pouches, Bags, Clamshell Packs, Trays, Blister Packs, Syringes, Caps & Closures, and Cartons, Containers, & Boxes), By End-user Vertical (Pharmaceutical and Medical Devices), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Healthcare Packaging market accounted for USD 124.83 Billion in 2020 and is estimated to be USD 228.64 Billion by 2030 and is anticipated to register a CAGR of 6.3%.

Healthcare packaging is a process used for packing drugs, tools, devices, and other pharmaceutical products. It is performed to safeguard and store healthcare products from material damage, biological contamination, and unfavorable exterior effects. Healthcare packaging provides various essential purposes, but the primary role is to protect a packaged pharmaceutical or medical products. Healthcare packaging is designed in order to support the medical standards and also protect medical products as they feature unique specifications and often require sterilization before packaging. As a result of the wide range of medical components, healthcare packaging ranges from pre-formed packages to customized packages for specialty parts. Variations in dimension, size, rigidity, breathability and sterility enable even the most delicate medical component to be shipped in a suitable designed package.

Increased Emphasis on Convenience and Environmental Issues

Increased emphasis on convenience and environmental issues while using healthcare products is the major factor driving growth of the target market. Government across regions are making affordable healthcare mandatory, considering the need for healthcare access across all age groups and the aging population. For instance, Affordable Care Act in the U.S. has allowed for almost 30 million more US citizens to obtain insurance. Increasing demand for healthcare packaging, owing to rising demand for better healthcare & medical facilities, increasing medical awareness, is boosting growth of the global healthcare packaging market. In addition, advantageous trends in e-commerce medical industry such as free home delivery and 24x7 easy purchases are projected to propel growth of the target market. However, stringent rules and regulations regarding packaging especially material-specific standards may hamper growth of the global market over the forecast period. Nevertheless, agreements & expansions and mergers & acquisitions globally are the ongoing trend observed, which is expected to support the target market growth over the forecast period.

Market players are focusing on development of new product

Market players are focusing on development of new product such as use of printed electronics which records date and time of pills being removed from the packet provides reliable information to medical professionals. In addition, companies are also focusing on technological interventions for smarter pharmaceutical products with the help of such as tracking technology in blister packaging, which when connected with smartphones or tablets, reminds patients to take medication on time. Healthcare packaging by utilizing smart materials or electronic motoring features could be an impending opportunity for market players operating in the global healthcare packaging market over the forecast period.

The global healthcare packaging market is segmented based product type, end-user vertical, and region.

On the basis of product type, the global healthcare packaging market is divided into pouches, bags, clamshell packs, trays, blister packs, syringes, caps & closures, and cartons, containers, & boxes. Based on end-user vertical, the target market is segmented into pharmaceutical and medical devices. Medical devices segment occupies more than 1/3 of the total healthcare packaging market share. The segment is anticipated to witness significant growth over. However, considerable demand is expected from the pharmaceuticals segments, owing to the increasing geriatric population and rising consumption of drugs and medicines among children.

 Regional Insights:

On region the global Healthcare Packaging market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating the global market and is expected to maintain its dominance over the forecast period. This can be primarily attributed to the strong presence of medical and pharmaceutical device and manufacturers in the U.S., as R&D investments of regional pharmaceutical companies have grown consistently over the past 15 years. The U.S. is accounted to remain the largest consumer of pharmaceutical packaging, as new sophisticated therapies with specialized packaging needs are being launched. Rapidly growing population along with increasing number of surgical operations and stringent government standardizations is expected to strengthen the U.S. segment of the target market over the forecast period. The global market in Asia Pacific is projected to register highest CAGR in terms of revenue, owing to increasing healthcare industry and growing number of generic manufacturing and contract manufacturing facilities.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global Healthcare Packaging market report based on product type, end-user vertical, and region.

Global Healthcare Packaging Market, By Region:

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

The key players operating the global healthcare packaging market involves WestRock Company, Sonoco Products Company, Avery Dennison Corporation, Gerresheimer AG, DowDuPont, Amcor Limited, Bemis Co. Inc., BASF SE, Sonoco Products Company, and Industrial Development Company (INDEVCO) SAL. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in Feburay 2019, Sealed Air Corporation acquired MGM’s flexible packaging business, its move for expansion in the Asian market. In April 2018, Gerresheimer added plastic eye dropper bottle systems and solid dosage containers to its NorthAmerican product lines.

WestRock Company 

WestRock is a corrugated packaging company based within the United States. It was created in July 2015 at the same time as MeadWestvaco and RockTenn merged. WestRock is the second-largest packaging manufacturer in the United States. With annual income of $15 billion and 42,000 humans in 30 countries, it is one of the world's major paper and packaging enterprises. The company's headquarters are in Sandy Springs, Georgia, wherein offices from Norcross, Georgia, and Richmond, Virginia were consolidated.

• WestRock Company 
• Sonoco Products Company
• Avery Dennison Corporation
• Gerresheimer AG
• DowDuPont
• Amcor Limited
• Bemis Co. Inc.
• BASF SE
• Sonoco Products Company
• Industrial Development Company (INDEVCO) SAL