The global medical packaging market, which was valued at US$38.63 billion in 2022, is expected to experience a compound annual growth rate (CAGR) of 6.9% from 2022 to 2032, reaching US$75.29 billion.
The progress in bioscience and medicine is a major driving force behind the growth of the medical industry. Additionally, the medical sector significantly contributes to the global economy as an important asset and continually offers opportunities for improvement.
Biotechnological advancements have led to the development of certain medical therapies that are available in an unstable liquid state but are presented as dry powder dosages or lyophilized forms. Specialized packaging is required for lyophilized pharmaceuticals to ensure optimal performance, creating new opportunities for original equipment manufacturers (OEMs).
Medical packaging encompasses various forms such as rigid bottles, flat pouches, stand-up pouches, blister packs, and sachets. Packaging companies focus on enhancing safety and functionality by incorporating administration aids, dispensing mechanisms, tamper-evident features, sustainable materials, and anti-counterfeiting measures.
Gerresheimer AG has been at the forefront of sustainable packaging trends, offering glass bottles made of post-consumer recycled (PCR) glass as well as bottles made from resins derived from sugarcane plants, such as R-PET and BIO-PET. This sustainable packaging trend is expected to gain further momentum in the coming years.
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Plastics and polymers are key components of medical packaging. Various plastic resins, including PET, PE, PVC, PP, PS, and bioplastics, are used to manufacture pharmaceutical vials, closures, bottles, tubes, cartridges, and similar items. Paper and paperboard are commonly used in secondary and tertiary packaging due to their low cost, excellent printability, sustainability, and wide availability.
Glass and aluminum are often utilized for packaging pharmaceutical formulations that are in liquid or semi-solid states. Amber-colored glass is preferred for pharmaceutical packaging as it absorbs UV rays.
The market insights and findings mentioned above have been gathered by Future Market Insights through a comprehensive market study titled 'Medical Packaging Market.' Their team of analysts and consultants conducted thorough primary, secondary, and tertiary research to provide these insights.
“Technological and scientific advancements are expected to keep the cash registers ringing for medical packaging market in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Medical Packaging Market
- North America holds the largest market share with due to the US being home to large number of key participants.
- Europe holds a sizable market share due to extensive research being conducted on this count. There are players like CureVac and BioNTech that have been proven successful regarding their vaccines; which has prompted the other players to invest in biotech vertical in the UK, Russia, and Germany.
- The Asia-Pacific is expected to grow at a faster rate in the medical packaging market. This could be credited to India and China leading from the front; like ‘Healthy China 2020’ coupled with growing geriatric population.
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Competitive Packaging
- Amcor, in April 2021, unleashed new-fangled AmSkyTM blister system to offer environmentally-friendly healthcare packaging.
- Ashfield, in January 2021, announced developing 3 business divisions to offer a plethora of opportunities for medical packaging market.
- Amcor, in April 2022, did launch more sustainable and new High Shield laminates for its portfolio of pharmaceutical packaging.
- Amcor, in June 2021, did launch ACT2100 – a heat seal coating medical packaging solution with the objective of enhancing performance in healthcare applications along with serving the packaging needs of customers’ packaging.
- Amcor, in November 2019, constructed a state-of-the-art 11-layer cast extrusion line at Winterborne Centre of Excellence for cast films at Bristol (UK), investing US$ 10.87 Million.
- Wipak, in November 2019, tabled a novel pouch especially developed to pack robotic instruments and the other long devices. The basic advantage is that the devices are rendered sterile at the time of storage and transportation.
Key Players:
- 3M Company
- Amcor Plc
- Ardagh Group S.A.
- Becton, Dickinson and Company
- UDG Healthcare plc
- Berry Global Group, Inc
- Sealed Air Corporation
- Catalent, Inc.
- West Pharmaceutical Services Inc.
Market Benefits
- The study provides an in-depth analysis of the global medical packaging market along with the current trends and future estimations to elucidate the imminent investment pockets.
- The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
- An extensive analysis of the market based on application assists in understanding the trends in the industry.
- The report presents a quantitative analysis of the market from 2022 to 2032 to enable stakeholders to capitalize on the prevailing market opportunities.
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Key Segments Profiled in the Medical Packaging Market
By Material:
- Plastics/Polymers
- Glass
- Metal
- Others
By Application:
- Bottles
- Trays
- Syringes/Ampoules/Vials
- Blister Packs
- Bags & Pouches
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
