Healthcare Packaging Market: Introduction

The latest report published by Transparency Market Research on the global healthcare packaging market, includes global industry analysis, share, size, growth trends and forecast for 20212029. The current value of the global healthcare packaging market is US$ 100 Bn and is anticipated to expand to US$ 155 Bn by the year 2029. Growth of the pharmaceutical industry and high demand for medicinal supplies & drugs have created a positive impact on the healthcare packaging market. The rigid packaging segment is likely to offer a total incremental opportunity of US$ 47 Bn during the forecast period. Plastic is the major material used to manufacture healthcare packaging solutions worldwide.

global healthcare packaging market

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Healthcare packaging solutions witness a never-ending demand of bags, pouches, envelopes, boxes, clamshells, and bottles & jars. In terms of packaging format, both rigid and flexible packaging formats are in high demand; of these, rigid packaging holds maximum market share as it includes ampoules & vials, aerosol cans, containers, and folding cartons for upgraded packaging needs of the pharmaceutical industry.

Plastic is the most used material for producing healthcare packaging solutions, due to its lightweight and recyclable and re-usable attributes. Among all materials, plastics such as polyethylene (high-density polyethylene, low-density polyethylene and linear low-density polyethylene), polypropylene, polyethylene terephthalate, polyvinyl chloride, and many other variants of plastics are majorly used. Other materials used in manufacturing healthcare packaging solutions are metal (aluminum, tin), glass, and paper & paperboard.

As per consumption and production of healthcare packaging across continents, North America is anticipated to hold a market share of almost 37% until the year 2029, followed by Europe and Asia Pacific with expected market share of 31% and 23%, respectively. Asia Pacific is projected to offer offering opportunities, due to fast-paced development of medical infrastructure and healthcare facilities in the region, followed by North America during the forecast period.

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Rise in Geriatric Healthcare Services Shaping Healthcare Packaging Market

According to the report published in 2020 by the United Nations on ‘World Population Ageing’, the percentage of the population aged 65 years or over is expected to increase from 9.3% in 2020 to around 16% by 2050. This can be attributed to mainly high life expectancy and decreasing fertility levels. Furthermore, advancements in the healthcare industry have also led to a significant increase in life expectancy across the globe.

The geriatric population is a major contributor to the growth of the healthcare packaging market due to the increasing number of ailments associated with age. In 2020, according to the data published by the World Bank, Japan had 28% of the total population aged 65 & above, which is the highest among other countries and is expected to increase further in upcoming years.

The U.S. and Germany also have a significantly higher percentage of the geriatric population of 22% and 17%, respectively. The consistent rise in the geriatric population across the globe is anticipated to bolster the market growth of healthcare packaging.

Sustainability Major Trend in Healthcare Packaging Market

The UN Environment Programme report in 2018 stated that plastic waste of approximately 13 million tons lands in oceans every year. There is a rise in various measures taken by the governments and federal agencies to cope with the waste disposal and generation problem such as banning or controlling the use of single-use plastics that adversely affect the environment. This has served the healthcare packaging companies with the need to adopt sustainable alternatives for packaging.

Many key players in the industry are consistently expanding their product portfolio with packaging solutions that are either recyclable or reusable in an attempt to meet their sustainability goals. DS Smith PLC, one of the leading players in the healthcare packaging market aims to manufacture 100% reusable or recyclable packaging solutions by 2023.

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For instance, in September 2020, Constantina Flexibles Group GmbH in partnership with Novae Healthcare Pvt. Ltd. launched a fully recyclable flexible packaging solution, EcoLamPlus. Furthermore, in December 2019, Winpak Ltd. launched ReFresh™, a product line of sustainable packaging solutions at PACK EXPO.

Healthcare Packaging Market: Competition Landscape

The global healthcare packaging market consists of top global key players holding majority of the market share. Top manufacturers of healthcare packaging solutions are Honeywell International, 3M Company, Westrock Company, Ball Corporation, Berry Global Inc. and Mondi Group.

According to the market share of companies, key players are formulated into tier structures. Other key players in the healthcare packaging market are DS Smith plc, Sonoco Products Company, Sealed Air Corporation, and other local manufacturers. All these players expand their footprint by increasing their production capacities and serving foreign markets.

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