Healthcare Packaging Market – Growth, Trends and Forecasts (2020 – 2025)
The Healthcare Packaging Market research report 2020 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The Healthcare Packaging market report provides information regarding market size, share, trends, growth, cost structure, Healthcare Packaging market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2025.
The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the Healthcare Packaging market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the Healthcare Packaging industry and provides data for making strategies to increase market growth and effectiveness.
Scope of the report:
The report evaluates the growth rate and the Market value based on Market dynamics, growth inducing factors. The complete knowledge is based on the latest industry news, opportunities, and trends. The report contains a comprehensive Market analysis and vendor landscape in addition to a SWOT analysis of the key vendors.
The healthcare packaging market was valued at USD 117.36 billion in 2019, recording a CAGR of 6.35% over the forecast period from 2020 to 2025.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Healthcare Packaging Market: Gerresheimer AG, Corning Incorporated, Nipro Corporation, SGD SA, Stlzle-Oberglas GmbH, Bormioli Pharma SRL, Schott AG, Shandong Medicinal Glass Co. Ltd, Beatson Clark PLC, Arab Pharmaceutical Glass Co, Piramal Glass Pvt Ltd, i ecam Group, and others.
Key Market Trends
Blister Packs are Expected to Witness Significant Growth
– Blister packages are one of the most popular and convenient dosing formats. The major companies that operate in the healthcare packaging industry provide non-PVC barrier blister packaging, which assists medical and pharmaceutical companies in meeting sustainability objectives and shelf-life requirements, and offers an economical alternative, compared to traditional market offerings. Blister packs are used for medical instruments or devices, such as catheters and injection syringes. However, applications of blister packs in medical device packaging are lesser than their applications in pharmaceutical product packaging.
– The occurrence of new diseases calls for better population health management. further, the emergence of informed customers and the growth of OTC (over-the-counter) drugs have augmented the growth of blister packaging in the pharmaceutical industry. Blister packaging has gained popularity to protect medication from moisture. Aligning to these trends, companies, like Burgopak and Ecobliss, have developed original blister packaging that is child-proof. The rising compliances by FDA, such as the CPG Sec. 450.500, which requires providing visible evidence to consumers that tampering has occurred, have been driving the need for tamper-evident packaging.
– This has enabled security throughout the product’s lifecycle, including after purchase by a consumer. Thus, blister packaging being the most used form of TEP (Tamperevident Packaging), has found an increased demand across the healthcare industry. Regulations related to child-proof packaging are also being implemented across regions, non-compliance, which may lead to medical recall and damage the reputation of drug manufacturers.
North America is Expected to Dominate the Market
– The United States and Canada are countries that are developed with prosperous economies, aging population segments, and advanced medical delivery systems, but the countries vary measurably in population size, healthcare spending intensities, aggregate gross domestic product (GDP) levels, and the structure of health insurance plans. With advanced primary medical community, extensive medical and life science research activities, high healthcare spending intensity, and large pharmaceutical and medical supply and device industries, the United States account for one of the world’s largest geographical markets for healthcare packaging products.
– The United States also dominates the pharmaceutical market, both in consumption and development. According to STAT, prescription drug spending in the country is considered to increase to USD 600 billion by 2023, up from an estimated USD 500 billion in 2019, which is further expected to drive the market for pharmaceutical glass packaging in the country. Additionally, as the United States is facing costly pharmaceutical imports from other countries than Canada, the US government authorized a pilot project for wholesalers and pharmacists to import versions of FDA-approved medicines from Canada.
– Moreover, the increasing population under the age group of 0-9 years is estimated to drive the demand for pharmaceutical syrups, which would, in turn, reflect the growth of healthcare packaging in the region. According to the United States Census Bureau, in the United States, the population under 0-9 years age group was 40.01 million in 2019. Since United States is one of the largest consumers of pharmaceutical products and depends on imports for API and finished products, the prolonged periods of lockdown due to the spread of COVID-19 might also negatively affect the region’s market.
Influence of the Healthcare Packaging market report
– Comprehensive assessment of all opportunities and risks in the Healthcare Packaging market.
– Healthcare Packaging market recent innovations and major events.
– A Detailed study of business strategies for the growth of the Healthcare Packaging market-leading players.
– Conclusive study about the growth plot of the Healthcare Packaging market for forthcoming years.
– In-depth understanding of Healthcare Packaging market-particular drivers, constraints, and major micro markets.
– Favorable impression inside vital technological and market latest trends striking the market report.
What are the market factors that are explained in the report?
– Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
– Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
– Analytical Tools: The Healthcare Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
- Healthcare Packaging Market: Where are the opportunities? What does the future look like for the Healthcare Packaging Market? What will be the market size in the next 5 years?
- Market trends: What is driving the market? Where are the key players? What are their strategies? What is holding the market behind? Where is the industry heading for in the short and long-term? How are new developments expected to change the market?
- Technology: How are RO and new brine concentration technologies shaping the market? What are the new revenue channels which companies can explore for growth?
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