Increasing expenditure on healthcare and emergence of e-commerce medical sector are fuelling the growth of global medical packaging market.
According to TechSci Research report, “Global Medical Packaging Market By Material (Polymer, Paper & Paperboard, Non-Woven Fabric and Others), By Packaging Type (Trays, Boxes, Bags & Pouches and Others), By Packing Type (Primary, Secondary and Tertiary), By Application (Medical Tools & Equipment, In-Vitro Diagnostic Products, Medical Devices and Others), By Region, Forecast & Opportunities, 2025”, the market is anticipated to grow at a rapid CAGR during the forecast period. Key factors fueling the growth of global medical packaging market are growing awareness pertaining to health, especially in developing countries, rising disposable income and increasing expenditure on healthcare. Moreover, emergence of advanced technologies and innovation in packaging in pharmaceutical industry are also contributing to the growth of this market. The increasing emphasis on safety of medical products while distribution is further expected to drive the market growth in next five years. Also, booming e-commerce medical industry and free home delivery services being provided by them has led to high demand for packaging materials.
Additionally, increasing prevalence of various chronic dieses and growing consumption of medicines are creating need for medical packaging around the world. The introduction of high quality and customized packaging is also leading to high growth of global medical packaging market. Furthermore, growing medical awareness and rising demand for better healthcare & medical facilities are anticipated to provide lucrative growth opportunities for medical packaging market. However, the market is also prone to come challenges. Stringent regulations pertaining to packaging particularly material-specific standards are likely to hamper the growth of global medical packaging market.
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Global medical packaging market is segmented based on material, packaging type, packing type and region. Based on material, the market can be categorized into polymer, paper & paperboard, non-woven fabric and others. Among them, polymers witnessed highest growth until 2019. However, paper & paperboard materials are expected to undergo high growth during the forecast period on account of innovation in paper industry. Moreover, development of eco-friendly paper is also making paper and cardboard most popular medical packaging materials.
Based on packaging type, global medical packaging market can be categorized into trays, boxes, bags & pouches and others. Among them, bags & pouches are expected to dominate the market through 2025 as they find wide application in healthcare sector. Furthermore, the development of barrier pouches is also making bags & pouches most popular medical packaging materials.
Major players operating in the global medical packaging market are Bemis Company, Berry Plastics Corporation, 3M Company, Westrock Company, Toppan Printing Co., Ltd., Thomas Packaging LLC., Wipak Group, Uhlmann Pac-Systeme GmbH & Co. Kg, Oliver Healthcare Packaging and CCL Industries Inc. Key growth strategies being adopted by leading companies are strategic collaborations, mergers & acquisition and product innovation.
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“Advanced medical delivery system in United States and Canada made North America a dominating market for medical packaging until 2019. The region is further anticipated to dominate the global medical packaging market through 2015 with high healthcare spending intensity and booming pharmaceutical sector. However, Asia Pacific is evolving as a lucrative market for medical packaging companies owing to increasing demand for medical drugs and equipment and rising patient pool,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Medical Packaging Market By Material (Polymer, Paper & Paperboard, Non-Woven Fabric and Others), By Packaging Type (Trays, Boxes, Bags & Pouches and Others), By Packing Type (Primary, Secondary and Tertiary), By Application (Medical Tools & Equipment, In-Vitro Diagnostic Products, Medical Devices and Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of medical packaging market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global medical packaging market.
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