Medical Packaging Market
PUBLISHED: 2023 ID: SMRC22620
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Medical Packaging Market

Medical Packaging Market Forecasts to 2028 - Global Analysis By Drug Delivery Mode (Inhalable, Oral & Injectable, Dermal/Topical), Type (Paper & Paperboard, Non Woven Fabric, Plastics & Polymers, Composites, Glass, Metal), Product Type (Secondary, Primary, Tertiary, Other Product Types), Application (Plastic Industries, Chemicals, Pharmaceuticals, Diagnostics, Other Applications) and By Geography

4.9 (91 reviews)
4.9 (91 reviews)
Published: 2023 ID: SMRC22620

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $1.55 BN

Projected Year Value (2028)

US $2.66 BN

CAGR (2022 - 2028)

9.4%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Medical Packaging Market is accounted for $1.55 billion in 2022 and is expected to reach $2.66 billion by 2028 growing at a CAGR of 9.4% during the forecast period. Medical packaging is an important step because it's essential to preserving the quality of the medicine within. Pharmaceutical packaging protects the product in line with its composition because some formulations require isolation against air, water, environmental pollutants, light, and other chemicals. Significant advancements in medicine, such as the commercialization of biologics and biosimilars as well as the use of nutraceuticals and synbiotics, have led to a considerable expansion of the pharmaceutical market, which has had a favourable effect on the medical packaging sector.

According to studies, the Indian pharmaceutical industry supplies, about 50% of the global demand for various vaccines, 40% of the U.S. market for generic drugs and 25% of the UK market for all medicines. According to data from the European Federation of Pharmaceutical Industries and Associations (EFPIA), North America sold over 40% of all pharmaceutical products globally in 2020. Numerous businesses that specialize in pharmaceutical packaging serve well-known pharmaceutical firms.



Market Dynamics:

Driver:

Increased worldwide consumption of drugs

The increased use of medications on a global scale is a significant factor in market expansion. Due to the rising frequency and severity of chronic illnesses, busy lifestyles, and population ageing, drug use is on the rise globally. Traditional approaches to medication production have been replaced by technologically advanced ones, which has completely changed the industry and made it one that is distinguished by the employment of sophisticated machinery, expensive investments, and technology. Drug producers worldwide are now able to meet rising customer demand for medications in various forms while upholding quality standards thanks to technological advancements, modifications to the manufacturing process, and improved efficiency. These developments in the pharmaceutical sector will boost demand for cutting-edge medications and drive the market.

Restraint:

Lack of knowledge and the shortage of qualified staff

Financial limitations and outdated equipment are a drag on the growing medical business in developing countries. Further barriers to the expansion of the pharmaceutical sector include a knowledge gap and a staffing deficit. The biggest barrier to obtaining health is a lack of knowledge of better medical practises, which has an impact on the medical packaging business. These issues collectively restrict the size of the medical packaging market in emerging economies such as India, Brazil, South Africa, and others. The market will be strengthened during the predicted period, nonetheless, by stricter enforcement of the laws and better government policies.

Opportunity:

Rising Prevalence of Chronic Diseases

The rising frequency of chronic diseases and the ageing population's combined effects on social behaviour are major drivers of market expansion. Many pharmaceuticals or medications are readily accessible in the marketplace for the treatment of medical conditions since both the government and the general public desire healthy lifestyles. Each medicine must be packaged to guard against contamination and harm from the outside. The governments of many areas have improved research and development in response to the sharp increase in chronic diseases in order to produce new, efficient medications for the chronic disease treatment, which supports the expansion of the medical packaging market.

Threat:

Harmful Polymer Packaging

Polymer is currently primarily used in pharmaceutical packaging despite its high production, cost-effectiveness, and durability. Nevertheless, polymer harms environmental quality, takes a very long time to biodegrade, and increases pollutants. Polymers can occasionally react with products, resulting in product contamination that is harmful to human health. As the production of polymer takes place in facilities where toxic waste and excessive carbon dioxide are released into the environment, it is essential that polymer makers abide by all applicable rules and regulations.

Covid-19 Impact

COVID-19 has a variety of effects on the packaging business but still there continues to be a high need for medical packaging,. To enhance immunity and prevent viral infection during this pandemic, an enormous amount of medications were needed, which aided in the market's expansion. On the other hand, the lack of raw resources, storage space, and labour caused by the global shutdown has made it extremely difficult for manufacturers to strike a balance between supply and demand. Packaging producers are being forced to concentrate on diverse products, regional diversity, and stringent lockout laws in many countries.

The Plastics & Polymers segment is expected to be the largest during the forecast period

The Plastics & Polymers segment is estimated to have a lucrative growth. Polypropylene packaging for medications is a practical and affordable option. Blister packs, strip packages, sachets, pre-fillable syringes and nasal spray, pouches for parenteral solutions, or bottles are all packaged with plastics. Medical packaging needs to be made of materials that are easy to handle, have low water vapour permeability, and are chemically inert. Additionally, because the packing materials come into contact with drugs and biological agents directly, they are subject to stringent requirements set forth by regulatory organisations. These conditions are met by plastics and polymers, which is why they are frequently employed in medical packaging.

The pharmaceutical segment is expected to have the highest CAGR during the forecast period

The pharmaceutical segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the arrival of novel technologies with affordable and effective manufacturing processes, in addition to increasing high-value investments. Manufacturer need for packaging materials is rising as a result of the increasing number of medications being approved by regulatory authorities and the increased production of such drugs. Increasing mergers and acquisitions in the pharmaceutical sector are also one of the key drivers of market expansion.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the expansion of the healthcare system, contract manufacturing, government efforts, the increasing population, as well as an increase in the sales of over-the-counter (OTC) medications. Hospitals as well as other medical facilities have increased in number as a result of the rapid economic growth in nations like China, India, Japan, and South Korea. China offers domestic makers of medical products generous tax policies.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to increase in the need for dependable, high-quality packaging solutions as more businesses have attempted to enhance their product offers by supplying better packaging materials. As well, the existence of numerous pharma companies is probably going to give the market a boost. The medical packaging market in North America will expand as a result of these firms' active efforts to create new drugs and their advancements in technologies like biologics and nanomedicines.



Key players in the market

Some of the key players profiled in the Medical Packaging Market include Mitsubishi Chemical Holdings Corporation, Amcor Limited, 3M Company, DuPont, Sonoco Products Company, WestRock Company, Nipro Company, Sealed Air Corporation, Mondi PLC, Berry Global, Inc., Nipro Corporation and West Pharmaceutical Services, Inc.

Key Developments:

In April 2021, Amcor Plc (Switzerland) launched customer trials for a new mono-material, recyclable polyethylene blister pack—AmSky. This brand eliminates the use of polyvinyl chloride, making recycling possible.

Drug Delivery Modes Covered:
• Inhalable
• Oral & Injectable
• Dermal/Topical

Types Covered:
• Paper & Paperboard
• Non Woven Fabric
• Plastics & Polymers
• Composites
• Glass
• Metal

Product Types Covered:
• Secondary
• Primary
• Tertiary
• Other Product Types

Applications Covered:
• Plastic Industries
• Chemicals
• Pharmaceuticals
• Diagnostics
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Medical Packaging Market, By Drug Delivery Mode
5.1 Introduction
5.2 Inhalable
5.3 Oral & Injectable
5.4 Dermal/Topical

6 Global Medical Packaging Market, By Type
6.1 Introduction
6.2 Paper & Paperboard
6.3 Non Woven Fabric
6.4 Plastics & Polymers
6.4.1 Polypropylene (PP)
6.4.2 Polyvinyl Chloride (PVC)
6.4.3 Polystyrene (PS)
6.4.4 Polyethylene Terephthalate (PET)
6.4.5 Polyethylene (PE)
6.5 Composites
6.6 Glass
6.7 Metal

7 Global Medical Packaging Market, By Product Type
7.1 Introduction
7.2 Secondary
7.2.1 Pharmaceutical Packaging Accessories
7.2.2 Prescription Containers
7.3 Primary
7.3.1 Blister Packs
7.3.2 Parenteral Vials & Ampoules
7.3.3 Prefilled Syringes
7.3.4 Prefillable Inhalers
7.3.5 Plastic Bottles
7.3.6 Caps & Closures
7.3.7 Medication Tubes
7.3.8 Pouches
7.3.9 Clamshell Packs
7.3.10 Trays
7.4 Tertiary
7.5 Other Product Types

8 Global Medical Packaging Market, By Application
8.1 Introduction
8.2 Plastic Industries
8.3 Chemicals
8.4 Pharmaceuticals
8.5 Diagnostics
8.6 Other Applications

9 Global Medical Packaging Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 Mitsubishi Chemical Holdings Corporation
11.2 Amcor Limited
11.3 3M Company
11.4 DuPont
11.5 Sonoco Products Company
11.6 WestRock Company
11.7 Nipro Company
11.8 Sealed Air Corporation
11.9 Mondi PLC
11.10 Berry Global, Inc.
11.11 Nipro Corporation
11.12 West Pharmaceutical Services, Inc.

List of Tables
1 Global Medical Packaging Market Outlook, By Region (2020-2028) ($MN)
2 Global Medical Packaging Market Outlook, By Drug Delivery Mode (2020-2028) ($MN)
3 Global Medical Packaging Market Outlook, By Inhalable (2020-2028) ($MN)
4 Global Medical Packaging Market Outlook, By Oral & Injectable (2020-2028) ($MN)
5 Global Medical Packaging Market Outlook, By Dermal/Topical (2020-2028) ($MN)
6 Global Medical Packaging Market Outlook, By Type (2020-2028) ($MN)
7 Global Medical Packaging Market Outlook, By Paper & Paperboard (2020-2028) ($MN)
8 Global Medical Packaging Market Outlook, By Non Woven Fabric (2020-2028) ($MN)
9 Global Medical Packaging Market Outlook, By Plastics & Polymers (2020-2028) ($MN)
10 Global Medical Packaging Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
11 Global Medical Packaging Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
12 Global Medical Packaging Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
13 Global Medical Packaging Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
14 Global Medical Packaging Market Outlook, By Polyethylene (PE) (2020-2028) ($MN)
15 Global Medical Packaging Market Outlook, By Composites (2020-2028) ($MN)
16 Global Medical Packaging Market Outlook, By Glass (2020-2028) ($MN)
17 Global Medical Packaging Market Outlook, By Metal (2020-2028) ($MN)
18 Global Medical Packaging Market Outlook, By Product Type (2020-2028) ($MN)
19 Global Medical Packaging Market Outlook, By Secondary (2020-2028) ($MN)
20 Global Medical Packaging Market Outlook, By Pharmaceutical Packaging Accessories (2020-2028) ($MN)
21 Global Medical Packaging Market Outlook, By Prescription Containers (2020-2028) ($MN)
22 Global Medical Packaging Market Outlook, By Primary (2020-2028) ($MN)
23 Global Medical Packaging Market Outlook, By Blister Packs (2020-2028) ($MN)
24 Global Medical Packaging Market Outlook, By Parenteral Vials & Ampoules (2020-2028) ($MN)
25 Global Medical Packaging Market Outlook, By Prefilled Syringes (2020-2028) ($MN)
26 Global Medical Packaging Market Outlook, By Prefillable Inhalers (2020-2028) ($MN)
27 Global Medical Packaging Market Outlook, By Plastic Bottles (2020-2028) ($MN)
28 Global Medical Packaging Market Outlook, By Caps & Closures (2020-2028) ($MN)
29 Global Medical Packaging Market Outlook, By Medication Tubes (2020-2028) ($MN)
30 Global Medical Packaging Market Outlook, By Pouches (2020-2028) ($MN)
31 Global Medical Packaging Market Outlook, By Clamshell Packs (2020-2028) ($MN)
32 Global Medical Packaging Market Outlook, By Trays (2020-2028) ($MN)
33 Global Medical Packaging Market Outlook, By Tertiary (2020-2028) ($MN)
34 Global Medical Packaging Market Outlook, By Other Product Types (2020-2028) ($MN)
35 Global Medical Packaging Market Outlook, By Application (2020-2028) ($MN)
36 Global Medical Packaging Market Outlook, By Plastic Industries (2020-2028) ($MN)
37 Global Medical Packaging Market Outlook, By Chemicals (2020-2028) ($MN)
38 Global Medical Packaging Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
39 Global Medical Packaging Market Outlook, By Diagnostics (2020-2028) ($MN)
40 Global Medical Packaging Market Outlook, By Other Applications (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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