Global Healthcare Packaging Market

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 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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FAQs

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).

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. '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'

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.

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.

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.

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Global Healthcare Packaging Market

Report ID: SQMIG15H2069

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