USD 136.61 billion
Healthcare Packaging Market Size, Share, Growth Analysis, By Material Type (Glass, Plastic), By Packaging (Primary Packaging, Secondary Packaging), By Packaging Format, By Application, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15H2069 |
Region:
Global |
Published Date: November, 2024
Pages:
177
|Tables:
125
|Figures:
77
Healthcare Packaging Market Insights
Global Healthcare Packaging Market size was valued at USD 136.61 billion in 2022 and is poised to grow from USD 145.91 billion in 2023 to USD 247.17 billion by 2031, growing at a CAGR of 6.81% during the forecast period (2024-2031).
Growing emphasis on improving healthcare around the world is boosting the demand for healthcare products thereby favoring healthcare packaging market growth as well. Surging sales of medical devices and pharmaceuticals, imposition of strict packaging regulations for medical products, and advancements in packaging technologies are all expected to create new opportunities for healthcare packaging providers in the future. High sensitivity of drugs and pharmaceuticals to changes in environment also bolsters the demand for specialized packaging around the world. Rising investments in the research and development of novel packaging solutions especially designed for healthcare applications will also drive healthcare packaging demand. On the contrary, stringent regulations on packaging industry to conserve environment and high costs of advanced packaging solutions are also predicted to impede healthcare packaging market growth potential.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmaceuticals
Fastest Growth
Plastic
Growth Rate
6.81%
Global Healthcare Packaging Market ($ Bn)
Country Share for North America Region (%)
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Healthcare Packaging Market Segmental Analysis
Global Healthcare Packaging Market is segmented by Material Type, Packaging, Packaging Format, Application, and Region. Based on Material Type, the market is segmented into Glass, Plastic, Metal, Paper & Paperboard, and Others. Based on Packaging, the market is segmented into Primary Packaging, Secondary Packaging. Based on Packaging Format, the market is segmented into Flexible Packaging (Bags & Pouches, Envelopes, Tubes, Sachets), Rigid Packaging (Trays, Boxes & Folding Cartons, Clamshells, Blisters, Bottles & Jars, Containers, Aerosol Cans, Ampoules & Vials). Based on Application, the market is segmented into Pharmaceuticals, Medical Devices, Consumables, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Packaging Type
Rigid packaging currently accounts for a dominant share of the global healthcare packaging demand outlook. Owing to its prolonged use in multiple healthcare applications ranging from small pharmaceuticals to large medical devices. High durability and versatility of rigid packaging makes it a preferred choice for healthcare companies thereby contributing to the dominance of this segment. Better protection offered by rigid packaging during transit and transport is also a key factor promoting its popularity.
Meanwhile, the demand for flexible packaging is projected to increase at a rapid pace over the coming years. Growing availability of flexible packaging solutions and rising popularity of the same are estimated to boost market growth in the future. Growing emphasis on sustainability will also help promote market development through this segment as flexible packaging creates much less waste as compared to rigid packaging.
Analysis by Material
Plastic is projected to account for a dominant share of the global healthcare packaging market owing to its lightweight and affordable nature. Majority of packaging solutions are made using plastic and this trend is also true for healthcare packaging market. Increasing preference of plastic over other materials is also contributing to the high market share of this segment.
On the other hand, the demand for paper and paperboard healthcare packaging is expected to surge at an impressive pace over the coming years. Rising emphasis on sustainability and bans on use of plastic in multiple countries to reduce plastic waste are projected to help this segment bolster market growth in the long run. Innovation in paper and paperboard-based packaging solutions will also create new opportunities for healthcare packaging providers in the future.
Global Healthcare Packaging Market By Type
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Healthcare Packaging Market Regional Insights
North America is projected to spearhead the demand for healthcare packaging across the world. The presence of multiple pharmaceutical companies coupled with a developed healthcare infrastructure helps this region hold a dominant market share. Rising adoption of active packaging and growing demand for novel healthcare packaging solutions are also creating new opportunities for healthcare packaging companies in this region. Canada and the United States are forecasted to be the top markets for healthcare packaging providers in this region. Moreover, growing medical research and development activities in this region will also bolster sales of healthcare packaging in the future.
The demand for healthcare packaging in the Asia Pacific region is projected to rise at a rapid pace across the study period and beyond. Rising investments in healthcare infrastructure development and growing spending on healthcare are projected to uplift the demand for healthcare packaging over the coming years. China, Japan, and India are estimated to be the leading markets for healthcare packaging providers looking to boost revenue generation in this region.
Global Healthcare Packaging Market By Region
- Largest
- Fastest
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Healthcare Packaging Market Dynamics
Drivers
High Demand for Medical Devices and Pharmaceuticals
- Growing emphasis on healthcare around the world is projected to bolster the sales of medical devices and pharmaceuticals thereby also driving up the demand for healthcare packaging as well. Increasing healthcare expenditure also plays a role in boosting market development.
Advancements in Packaging Technologies
- Healthcare packaging requirements are evolving rapidly around the world and this is why investments in packaging R&D are also increasing. This high investment in packaging technology development will create new opportunities for healthcare packaging market players in the future.
Restraints
Stringent Regulations for Healthcare packaging
- Healthcare packaging products are subject to strict regulatory mandates owing to the sensitive nature of medical products. Complying with these regulations can slow down the demand for healthcare packaging around the world going forward.
High Costs of Advanced Packaging
- Advanced healthcare packaging solutions such as active packaging and smart packaging are quite expensive to deploy and these high costs are projected to act as a major restraint for market development in the long run.
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Healthcare Packaging Market Competitive Landscape
Healthcare packaging companies should target the use of new sustainable materials to stay compliant with evolving standards. Focusing on developing sustainable and flexible packaging solutions will offer good return on investments for healthcare packaging market players in the future. Collaborations and partnerships will be crucial in promoting innovation over the coming years.
Top Player’s Company Profiles
- Amcor plc
- Gerresheimer AG.
- DS Smith Plc
- Huhtamäki Group
- Berry Global Inc.
- Sonoco Products Company
- Sealed Air Corporation
- Winpak Ltd.
- CCL Industries Inc.
- 3M Company
- Steel Partners Holdings
- Toray Industries
- Smurfit Westrock
- Mondi Group
- BillerudKorsnäs AB
- Newell Brands
- Honeywell International
- Klöckner Pentaplast Europe GmbH & Co. KG
- Avery Dennison Corporation
- DowDuPont
Recent Developments
- In June 2024, a new brand especially focusing on healthcare was launched by Evertis. Evercare is projected to provide specialty packaging solutions for the healthcare industry using its innovative medical-grade films as the Evertis Group focuses on expanding its business scope.
- In February 2024, to promote innovation and recognize achievements in the healthcare packaging space, DuPont announced a new awards program. Tyvek® Sustainable Healthcare Packaging Awards will focus on recognizing leaders innovating in the sustainable healthcare packaging space to spread awareness and promote innovation in the market.
- Back in November 2023, a new thermoforming packaging film for healthcare applications was launched by Coveris. This new flexible and recyclable packaging solution will provide superior protection for medical products and is called Formpeel P.
Healthcare Packaging Key Market Trends
- Rising Adoption of Sustainable Packaging Materials: Healthcare packaging companies should focus utilizing sustainable packaging materials to stand out from the competition and maximize their sales. Growing awareness regarding sustainability among consumers and stringent sustainability mandates are projected to create multiple new opportunities for healthcare packaging companies.
- Development of Smart Packaging: Healthcare packaging companies can focus on integrating advanced technologies with their packaging offerings to create smart packaging solutions. Solving the issue of counterfeiting and product tampering through use of smart packaging will definitely boost revenue generation for market players in the long run.
Healthcare Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, growing demand for convenient packaging solutions and increasing sales of medica devices and pharmaceuticals around the world are slated to primarily augment the demand for healthcare packaging across the forecast period. However, high costs of advanced packaging solutions and stringent regulations surrounding healthcare packaging products are slated to impede healthcare packaging market growth potential going forward. North America is slated to spearhead the demand for healthcare packaging owing to rising healthcare expenditure and presence of multiple healthcare organizations in this region. Developing smart packaging using sustainable materials will offer lucrative business scope for healthcare packaging companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 136.61 billion |
| Market size value in 2031 | USD 247.17 billion |
| Growth Rate | 6.81% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Healthcare Packaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Healthcare Packaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Healthcare Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Healthcare Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Healthcare Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Healthcare Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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