Medical Packaging Market Analysis

Global Medical Packaging Market Overview

The medical packaging market size was valued at USD 27.89 Billion in 2023. The medical packaging industry is projected to grow from USD 30 Billion in 2024 to USD 49.86 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.56% during the forecast period (2024- 2032). Rising demand for sustainable packaging, the rising use of aluminum metal in the packaging of medical devices, and the increase in demand for innovative packaging solutions are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Medical Packaging Market Trends

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  The growing adoption of generic drugs in developing countries is driving market growth.

  
  

Market CAGR for medical packaging is driven by the increasing adoption of generic drugs in developing countries, which will fuel the medical packaging demand. A generic drug is a pharmaceutical drug with the same chemical ingredients, intended use, dosage, route of administration and side effects as the original drug. Many companies are investing in manufacturing generic drugs to provide medicinal treatments at a lower cost. Packaging plays an important role in the manufacturing process of generic drugs as they are needed to pack and protect drugs during storage and carriage. Hence, the rising demand for generic drugs will propel product usage.

Moreover, pharmaceutical companies' growing emphasis on sustainability and environmental responsibility fueled the need for eco-friendly packaging solutions. A growing market for recyclable and biodegradable packaging materials is creating a demand for cutting-edge packaging machinery that can handle these materials. The growing use of track and trace technologies also drives the market for medical packaging equipment. Advanced tracking and tracing technologies can be used to enhance the security and safety of pharmaceutical products and stop theft and counterfeiting.

Initiatives taken by governments to reduce the wastage of medicines have driven the medical packaging market revenue. In addition, increased access to healthcare insurance has led to an expansion in demand for customized medication. These drugs require special packaging for product sustainability, leading to a surge in the healthcare packaging market. In addition, increased awareness of environmental issues leading to a rise in the need for efficient and sustainable packaging has contributed to the market's growth. Moreover, rising disposable income in developed countries has led to greater healthcare investments.

Players are focusing on delivering value-added services to attract more clients. Major industry players have invested significant resources in developing several products and the technology used to manufacture them. For instance, In April 2022, Amcor launched new and more sustainable High Shield laminates to its pharmaceutical packaging portfolio. This is a low-carbon, recycle-ready, and moisture-resistant packaging solution, thus, end-use companies' recyclability agendas.

Constantia Flexibles announced the launch of a new pharmaceutical packaging solution called REGULA CIRC in July 2023 that uses coldform foil. The packaging replaces traditional PVC with a PE sealing layer, resulting in low plastic content and increased aluminum proportion. This optimization enhances sustainability and improves the recovery of materials during the recycling process.

Medical Packaging Market Segment Insights

Medical Packaging Type Insights

The medical packaging market segmentation, based on type, includes containers, pouches, trays, blister packets, clamshell packs, vials, and others. The pouches segment dominated the market, accounting for 35% of market revenue (9.74 Billion). In developing economies, category growth is driven by widely utilized containers for small- to medium-sized soft and semi-soft medical goods sold in unit quantities and are not vulnerable to damage during freight and storage. However, blister packets are the fastest-growing category due to the growing demand for over-the-counter pharmaceuticals, often packed in blister packs.

Medical Packaging End-User Insights

The medical packaging market segmentation, based on end-user, includes hospitals, clinics, medical & research centers, forensic departments, and others. The hospitals category generated the most income owing to the increasing demand for medicines. However, medical & research centers are the fastest-growing category owing to key players' growing investment in research and development.

Figure 1: Medical Packaging Market by End-User, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Medical Packaging Material Insights

The medical packaging market segmentation, based on material, includes sterilization, Tyvek, foam, molded fiber, fabrics, plastics, films, adhesives, and others. The plastics category generated the most income (70.4%). Plastic is the most considerable raw material used in the production of packaging of pharmaceutical products. Plastics are easy to mold in any shape and size, offer protective properties, and are cost-effective, thus driving market growth. However, adhesives are the fastest-growing category owing to the significant demand for pressure-sensitive tapes and labels from the packaging industry.

Medical Packaging Application Insights

The medical packaging market segmentation, based on application, includes medical, pharmaceuticals, diagnostics, plastic industries, chemicals & research, and others. The chemicals & research category generated the most income owing to rising requirements for precise dosing and more accurate and efficient packing procedures. However, pharmaceuticals are the fastest-growing category owing to the rising demand for pharmaceutical drugs and medicines.

Medical Packaging Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American medical packaging market will dominate this market, owing to the rising pharmaceutical industry. The growing demand for primary packaging products, surging disease prevalence, and increasing healthcare spending will boost market growth in this region. Further, the German medical packaging market held the largest market share, and the UK medical packaging market was the fastest-growing market in the North American region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: MEDICAL PACKAGING MARKET SHARE BY REGION 2022 (USD Billion)

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Europe's medical packaging market accounts for the second-largest market share due to the rising government support toward the pharmaceutical industry, increasing healthcare spending, and rising prevalence of diseases. Further, the German medical packaging market held the largest market share, and the UK medical packaging market was the fastest-growing market in the European region.

The Asia-Pacific Medical Packaging Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to growing health awareness among consumers in the region, especially in developing countries, and rising disposable income levels. Moreover, China’s medical packaging market held the largest market share, and the Indian medical packaging market was the fastest-growing market in the Asia-Pacific region.

Medical Packaging Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the medical packaging market grow even more. Market participants are also undertaking numerous strategic activities to enhance their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the medical packaging industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the medical packaging industry to benefit clients and increase the market sector. Major players in the medical packaging market, including Amcor Limited (Australia), Chesapeake Limited (U.S.), DuPont (U.S.), Klöckner Pentaplast Group (Germany), and others, are attempting to increase market demand by investing in research and development operations.

Amcor Plc is a provider of packaging solutions. It offers plastic, fiber, metal, and glass packaging products such as pet bottles, plastic bottles and jars, capsules and closures, specialty folding cartons, free films, bags and pouches, wrappers, rigid containers, laminates, and flow packs. The company's products find applications in various industries, such as beverages, food, pharmaceutical, medical device, homecare personal care, pet care, specialty cartons, and other technical applications. It also serves medical-device, healthcare, pharmaceutical, personal care and home product markets. In April 2022, Amcor declared the addition of an innovative and sustainable High Shield laminate to its packaging portfolio of the pharmaceutical industry. Launching these low-carbon and easily recyclable packaging alternatives helps fulfill the industry's high barriers and performance requirements, along with supporting the recycling program of pharmaceutical manufacturers.

Constantia Flexibles Group GmbH, a subsidiary of Wendel SA, is a provider of flexible packaging solutions. The company produces and markets various plastic, metal and paper packaging products. Constantia Flexibles Group's product portfolio includes aluminum foils and container systems, pouches and bags, lidding films and laminates, die-cut lids, reel-fed lidding, cheese packaging, confectionery foil and film, coliform and blister packaging, cup sealing systems, sachets and capsule systems. Constantia Flexibles Group serves these products to food and beverage, pharmaceuticals and other industries. In June 2022, Constantia Flexibles declared the launch of an innovative and recycle-ready laminate with enriched chemical-resistant properties. The newest addition is combined with the guidelines of "design for recycling" and replaces several chemically harmful products like gel compositions or pharmaceutical liquids.

Key Companies in the Medical Packaging market include

• Amcor Plc (Switzerland)


• Gerresheimer AG (Germany)


• SCHOTT AG (Germany)


• Westrock (U.S.)


• AptarGroup, Inc. (U.S.)


• Berry Global, Inc (U.S.)


• NIPRO (Japan)


• CCL Industries Inc. (Canada)


• West Pharmaceutical Services (U.S.)


• SGD Pharma (France)


• Ardagh Group S.A. (Luxembourg)


• International Paper (U.S.)


• Comar LLC (U.S.)


• Vetter Pharma (Germany)

Medical Packaging Industry Developments

In 2020, Amcor came up with recyclable high barrier flexible packs that would decrease the carbon prints by 64% for each pack. As a result, there were green formulations of packing materials thereby pushing up growth rates in pharmaceutical packaging.

In July 2023, Constantia Flexibles introduced REGULA CIRC – a new pharmaceutical packaging solution based on cold-form foil technology. The proportion of plastic content was reduced, thereby increasing aluminum content by replacing traditional PVC with a PE sealing layer in this kind of packaging. This optimization enhances sustainability and, at the same time, facilitates better material recovery during recycling processes carried out with such packages.

West Pharmaceutical Services, Inc., a forward-looking organization involved in the creation of injectable drug delivery solutions, announced that it had signed an exclusive supply and technical agreement with Corning Incorporated in January 2022. In this regard, Corning’s Valor Glass technology used for manufacturing advanced injectable packing and delivery devices as employed in life-saving therapies will be enhanced, thus benefiting more patients, meaning improved patient safety and wider access to essential treatments.

Becton, Dickinson and Company, along with Frazier Healthcare Partners (a leading private equity firm focusing on healthcare investments), have come together to allow BD to buy Parata Systems pharmacy automation solutions company for $1.525 billion in June 2022. Parata offers different types of pharmacy packaging aimed at reducing costs while enhancing patient safety; furthermore, it supplies a complete range of pharmacy automation choices, including medication adherence packaging technology as well as high-speed robotic dispensing technologies and pharmacy workflow.

Gerresheimer AG signed an agreement with ISR –a drug development company in May 2022 to provide large quantities of IcoOne nasal inhalers for Phase III clinical trials of dry powder COVID-19 vaccine. In the pharmaceuticals, biotechnology, healthcare and cosmetics sectors, Gerresheimer has a very wide range of products as far as pharmaceutical and cosmetic packaging solutions and drug delivery devices are concerned.

Medical Packaging Market Segmentation

Medical Packaging Type Outlook

• Container


• Pouches


• Trays


• Blister Packets


• Clamshell Packs


• Vials


• Others

Medical Packaging Material Outlook

• Sterilization


• Tyvek


• Foam


• Molded Fiber


• Fabrics


• Plastics


• Films


• Adhesives


• Others

Medical Packaging End-User Outlook

• Hospitals


• Clinics


• Medical & Research Centers


• Forensic Departments


• Others

Medical Packaging Application Outlook

• Medical


• Pharmaceuticals


• Diagnostics


• Plastic Industries


• Chemicals & Research


• Others

Medical Packaging Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America