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The healthcare packaging market is estimated to grow at a CAGR of 7.05% between 2022 and 2027. The size of the market is forecast to increase by USD 56.67 billion. The growth of the market depends on serval factors, including increased worldwide consumption of drugs, increased use of disposable medical products, and increased demand for parenteral containers.
This report extensively covers market segmentation by packaging (primary packaging and secondary packaging), product type (bottles, blisters, vials, pouches, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the global healthcare packaging market as a part of the global metal and glass containers market within the overall global containers and packaging market. The global metal and glass containers market includes products of metal, glass, or plastic containers, including corks and caps. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increased worldwide consumption of drugs is notably driving the market growth, although factors such as inefficient product labeling processes may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Healthcare Packaging Market Driver
The increased worldwide consumption of drugs is notably driving market growth. The consumption of drugs is increasing worldwide due to the increased incidence and prevalence of chronic diseases, hectic lifestyles, and the aging of the population. Technologically advanced methods have replaced traditional methods of drug manufacturing and have transformed the entire market, which is now characterized by the use of high-tech equipment, technology, and hefty investments.
Technological innovations, changes in the production process, and better efficiency have enabled drug manufacturers worldwide to cater to the increased demands from customers for drugs in different forms, such as inhalants, aerosols, pessaries, lozenges, and suppositories while maintaining quality standards. These advances in the pharmaceutical industry will increase the demand for advanced drugs, thereby driving the market during the forecast period.
Significant Healthcare Packaging Market Trend
Smart healthcare packaging is the primary trend in the market. The legislation and compliance standards are constantly evolving and becoming more stringent with more breakthroughs in research and the adoption of new technologies. Packaging must reflect and support these changes. Furthermore, the growing demand for packaging that offers moisture control due to the increase in demand for drugs with high moisture sensitivity is another key factor driving the adoption of smart packaging in this segment.
With the rise in the aging population worldwide, the demand for healthcare packaging that can provide reminders to elderly patients for drug consumption on a timely basis is increasing. Such use cases are estimated to drive the growth of smart packaging during the forecast period.
Major Healthcare Packaging Market Challenge
The inefficient product labeling process is the major challenge in the market. The product labeling processes adopted by various companies are still inefficient and unstructured. The disparate product data make the drug labeling process highly manual in nature, which is time-consuming.
The labeling departments of pharmaceutical and healthcare/medical product companies must collect product information from multiple sources, re-write the labeling copy, and re-validate the information before developing labeling artwork files, all of which require a significant amount of time, labor, and financial resources. To add to this, pharmaceutical companies need to generate XML-based submissions to meet the structured product labeling standards, which is also a tedious process. The above factors will hamper the growth of the market during the forecast period.
Key Healthcare Packaging Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Healthcare Packaging Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
West Pharmaceutical Services Inc. - The company offers healthcare packaging such as Daikyo and syringe components. The proprietary segment offers proprietary packaging, containment, and drug delivery products, along with analytical lab services and integrated solutions, primarily to biologic, generic, and pharmaceutical drug customers.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the primary packaging segment will be significant during the forecast period. The primary packaging segment includes all the kinds of packaging items or products that come into direct contact with the drug or pharmaceutical, or healthcare product and form part of the complete product. Primary packaging products include ampules, vials, glass and plastic bottles, caps, closures, liners, pouches and seals, blister packs, medication tubes, and pre-fillable syringes and inhalers.
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The primary packaging segment was valued at USD 71.89 billion in 2017 and continued to grow until 2021. The primary packaging included in this segment includes glass jars and bottles and IV containers. IV containers are available in a variety of dimensions and are increasingly being made from environment-friendly materials such as PVC and diethylhexyl phthalate (DEHP). Therefore, the market is expected to grow during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in APAC is expected to observe rapid growth during the forecast period due to the growth in healthcare infrastructure, contract manufacturing, government initiatives, the burgeoning population, and an increase in the sale of self-medication and over-the-counter (OTC) drugs. With the rapid economic growth in countries such as China, India, Japan, and South Korea, there has been a growth in healthcare infrastructures, such as hospitals and other healthcare facilities. China provides high tax benefit policies to local manufacturers of medical devices.
The outbreak of the COVID-19 pandemic positively impacted the growth of the market in APAC. However, the initiation of mass COVID-19 vaccination drives in the first half of 2021 led to a rise in production activities in the healthcare pharmaceutical industry, which, in turn, generated higher demand for healthcare packaging solutions. For instance, in June 2021, a China-Sri Lanka friendship hospital built with a Chinese grant of $60 million was inaugurated in Sri Lanka for the treatment of patients with chronic kidney disease. Such expansions by end-users can increase the demand for healthcare packaging, which will drive market growth in the region during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Packaging (Primary packaging and Secondary packaging), Product Type (Bottles, Blisters, Vials, Pouches, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America).
Healthcare Packaging Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.05% |
Market growth 2023-2027 |
USD 56.67 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.09 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Airnov Inc., Amcor Plc, AmerisourceBergen Corp., AptarGroup Inc., Baxter International Inc., Becton Dickinson and Co., Cardinal Health Inc., Catalent Inc., CCL Industries Inc., DuPont de Nemours Inc., Gerresheimer AG, KP Holding GmbH and Co. KG, Placon Corp., Precision Concepts International, SCHOTT AG, Sealed Air Corp., Sonoco Products Co., West Pharmaceutical Services Inc., and WestRock Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Packaging
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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