Global healthcare packaging market overview and outlook
The global healthcare packaging market is estimated at USD 100-120 billion in 2019 with growth driven by rising demand for healthcare services owing to increasing prevalence of lifestyle diseases, ageing population and growing spending on healthcare
Over the years, the healthcare industry has evolved in terms of use of high technology equipment and instruments, increased focus on sustainable packaging and processing solutions which has led to growth in the healthcare packaging segment
Increasingly stringent regulations pertaining to traceability, serialization and anti-counterfeiting have made companies focus more on the safety and sustainability aspects of the overall manufacturing and packaging processes
North America will continue to remain as the largest market for healthcare packaging led by the US market characterized by stringent regulations set by the FDA. In terms of future growth, Asia Pacific is expected to be the fastest growing market driven by a large ageing population and rising healthcare spending.
Key opportunity areas for the market players include rising demand for innovative and sustainable packaging solutions and higher growth from emerging markets in the Asia Pacific and Latin America
New product launches and continued innovations in packaging materials used by the packaging and pharma/medical device companies are expected to be the key defining characteristics in the coming years
The healthcare packaging market is very competitive and at the same time moderately consolidated with few large global companies dominating the industry. Key companies include Bemis, Baxter, Mondi, DuPont, BASF, Schott, Amcor, etc.
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Market Growth Drivers and Trends:
Key factors driving the global healthcare packaging market are:
- Growing global population
- Increased access to healthcare services
- Regulatory requirements and standards
- Shift towards single-use products
Potential Challenges
Key factors likely to restrain or slow down growth in the global healthcare packaging market :
- Environmental concerns regarding use of packaging raw materials
- Stringent regulations may impact demand for certain packaging types
Global Healthcare Packaging Market Research Scope
The base year of the study is 2019, with forecast done up to 2024. The report provides a detailed assessment of the global healthcare packaging market, including insights on the market dynamics, key drivers, challenges, regulations impacting the market, technology assessment and value chain analysis.
We have also estimated the current market size for healthcare packaging globally and by geography, by product type, packaging type and end-use application; 5-year outlook of the market, factors driving growth along with regional insights and trends
The study also presents a thorough analysis of the competitive landscape, considering the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the growth prospects of the global healthcare packaging market.
Author – Prasanth R Krishnan
Associate Director Operations
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