The global healthcare packaging market is anticipated to grow at a CAGR of 6.4% during the forecast period. The importance of the sterile environment alongside appropriate design, supervision, and control of manufacturing processes is very critical in the healthcare packaging. This aids in preventing particle contamination that otherwise can alter the safety concerns and integrity of finished pharmaceutical products. Hence, the increasing costs and demands of healthcare products with clean, safe, and efficient packaging across the globe is significantly driving the growth of the healthcare packaging market. 

Alongside, the latest technological innovations in the healthcare packaging industry are maintaining the competitive environment among industry players. The market players are shifting their focus toward sustainable packaging. Such efforts by the medical devices and pharmaceutical companies are providing scope for the market growth during the forecast period. For instance, in August 2020, Parkside Flexibles Ltd. collaborated with TouchguardTM to launch a new packaging solution incorporating an antibacterial coating. The new development enables brands to protect consumers against potentially harmful bacteria.

Moreover, the increasing trend of using services from pharmaceutical contract packers that provides customized packaging solutions to the manufacturing company further drives the market growth. These contract manufacturing companies assist the drug pharmaceutical companies starting from the earliest stages of clinical development through to commercialization till ongoing commercial supply. This is also expected to significantly impact the growth of the healthcare packaging market. However, the pricing variation among the services provided by the companies is anticipated to challenge market growth during the forecast period.

Segmental Outlook 

The global healthcare packaging market is segmented based on end-use vertical and material types. Based on the end-use vertical, the market is bifurcated into pharmaceutical packaging and medical device packaging. Pharmaceutical packaging is further divided into primary packagings such as bottles and blisters; and secondary packaging such as containers. Moreover, medical device packaging includes the analysis of bags & pouches, trays, boxes, and others. Based on the material type, the market is sub-segmented into the polymer, paper & paperboard, and Others. 

Global Healthcare Packaging Market Share by Material Type, 2020 (%)

Material Type Insight: Plastics & Polymer Segment to Contribute a Significant Share

The plastic & polymer segment is anticipated to grow significantly in the healthcare packaging market owing to the increasing application of new polymers for packaging purposes. In addition to this, the polymer that is used in the healthcare packaging material provides enhanced flexibility for the packaging, which in turn, is expected to significantly increase the adoption of the polymer in the healthcare packaging market. Moreover, healthcare products are delicate and hence requires exceptional moisture barrier properties, and resistance. Hence, this aids in the increasing growth of the polymer segment in the market.

Regional Outlooks

The global healthcare packaging market is further segmented based on geography into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold a significant market share in the healthcare packaging market during the forecast period. The growth of the market in the North American region is promoted by the presence of stringent healthcare regulations across the region. In addition to this, the strong presence of key pharmaceutical and medical device industry players across the region is also contributing considerably to the regional growth of the healthcare packaging market.  Further, Europe also contributes a prominent share in the market. The European healthcare packaging market is driven by the increasing SMEs in the packaging industry as well as the material manufacturing market.

Global Healthcare Packaging Market Growth by Region, 2020-2026

Asia-Pacific will Augment with the Fastest Growth Rate in the Healthcare Packaging Market 

Asia-Pacific is anticipated to exhibit the fastest growth rate in the healthcare packaging market owing to the increasing number of pharmaceutical manufacturing sites across the region. Countries such as India and China are experiencing robust growth in pharmaceutical production facilities. Moreover, improving healthcare facilities across the region is also anticipated to foster the growth of the healthcare packaging market. In addition to this, government regulations across the region are promoting the use of eco-friendly packaging materials. Further, raising awareness regarding the advantages of eco-friendly packaging among consumers is also expected to drive the regional growth of the healthcare packaging market. Furthermore, the increasing diagnosis of chronic disease cases in countries such as India, China, and Japan will also fuel the growth of the healthcare packaging market during the forecast period.

Market Players Outlook

Some of the key players of the healthcare packaging market include Amcor Plc, Gerresheimer AG, Schott AG, AptarGroup Inc., 3M Co., Oliver Products Co., Berry Global Inc., CCL Industries Corp., Sonoco Products Corp., WestRock Co., and others. The market players are considerably contributing to market growth by adopting various strategies to stay competitive in the market.  For instance, in August 2020, Oliver Design LLC, a new business unit of Oliver Healthcare Packaging Co., announced the acquisition of Kansas City Design (KCD, a product and packaging design firm, having served customers in the life sciences industry since 2004 from their design center in Lambertville, NJ.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global healthcare packaging market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.