Global Medical Packaging Market Size, Share, and COVID-19 Impact Analysis, By Packaging Type (Primary, Secondary, and Tertiary), By Material (Plastics, Paper & Paperboard, Glass, and Metal), By Product Type (Bottles, Blisters, Caps & Closures, Syringes, Vials & Ampoules, Bags & Pouches, Sachet, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

Global Medical Packaging Market size is expected to be worth USD 22.30 billion in 2021 and is estimated to reach up to USD 47.11 billion by 2030, at a compound annual growth rate (CAGR) of 7.50% from 2022 to 2030.

The main purpose of medical packaging is to safeguard packaged medical or medical products. Medical packaging comes in a variety of forms, from prefabricated packaging to customizable packaging, due to the development of different types of medical components. Medical products have special characteristics, and the majority of them need to be properly sterilized. As a result, they are developed ergonomically to meet high medical requirements and preserve the integrity of the product. 

Growing chronic disease rates, population increase, changing eating patterns, and changes in sleep patterns are all factors contributing to the expansion of the medical packaging market share globally driven by rising environmental consciousness caused by traditional packaging materials and the adoption of new regulatory criteria for recycling packaging.

COVID-19 ANALYSIS

With the outbreak of COVID-19, the impact is remaining unaffected for the medical packaging market trends. Medical businesses were exempted from the lockdown limitations since their operations are vital to the community due to government support for generic drugs and medicines. Spikes in demand for the distribution of medication and vaccines have been a driving force for medical packaging throughout the pandemic.

However, interruptions in the supply chain along with growing health and safety concerns have resulted in uncommon barriers for the medical packaging market. In addition, over-the-counter purchases also increased by 14.3% for sleeping, calming, and mood drugs. With the potential of a pandemic still present, e-commerce has extended into new industries to meet the growing demand for at-home medical deliveries.

TREND

Rising Demand of Sustainable Medical Packaging

In recent years, the development of environmentally friendly medical packaging has gained importance. Due to the necessity to limit plastic consumption, drug producers have started to research alternative materials to reduce the use of plastic throughout the entire supply chain. Innovative eco-friendly packaging currently uses sustainable resources including maize starch gelatin, sugar cane, pectin, and wheat bran.

Post-Consumer Regrind (PCR) is a modern alternative to conventional plastic that is also environmentally benign. The medical packaging market revenue is expected to rise due to many government initiatives and increased public awareness of the need for the environmentally friendly program.

For instance, In Asia, Thailand recently declared a nationwide ban on single-use plastic bags at major pharmacies and retailers, commencing January 1, 2020, with a full ban expected by 2021 to minimize plastic pollution. For the time being, India has delayed plans for a complete ban on single-use plastics, but it is pushing for additional awareness campaigns and collection stations to boost collection and reduce trash.

DRIVERS

Increasing Healthcare Expenditure and Medical Industry

The medical sector is expanding rapidly in recent years in emerging countries. Advancements in manufacturing techniques and company integration are likely to propel the medical packaging market growth. Emerging economies like Brazil, Russia, India, and China are predicted to develop the fastest.

The market in these nations is developing due to rising income levels and increased knowledge of the benefits of good healthcare systems and better lifestyles. A large population and demographic variables such as an increasingly young population and longer life expectancy also fuel this increase.

RESTRAINT

Low Volume Commercial Packaging Hamper Market Growth

Several biotech companies are focused on lower-volume drug products to address a smaller patient population. There are many challenges associated with orphan drug manufacturers including highly specialized, sensitivity to disruptions, and complexity. The small volume and sensitivity to supply disruption of orphan drugs can magnify the effects of these occurrences and a lack of alternative therapies can lead to severe problems for some patients.

SEGMENTATION INSIGHT

Based on the packaging type, the market is categorized into Primary, Secondary, and Tertiary. Based on Material, the market is categorized into Plastics, Paper & Paperboard, Glass, and Metal. Based on Product Type, the market is categorized into Bottles, Blisters, Caps & Closures, Syringes, Vials & Ampoules, Bags & Pouches, Sachet, and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

REGIONAL INSIGHTS

The North America region is expected to dominate the medical packaging market by 2030 owing to the expanding pharmaceutical business and increased consumer healthcare spending. The pharmaceutical sector is expanding as a result of the growing patient population brought on by infectious diseases like coronavirus that are spreading quickly. These elements will increase the demand for this type of packaging in this area.

The increasing penetration of producing high-class packaging for the medical industry is likely to fuel the medical packaging market share. The introduction of nanotechnology advancement in manufacturing processes, rising demand for home-delivery drugs, and blister packaging are the driving factors.

However, the Europe  region is expected to witness the highest growth rate during the forecast period of the medical packaging market due to the rising aging population and rising prevalence of chronic pain across the region. Emerging technological advancements is likely to propel the medical packaging market. For instance, in January 2022, SCHOTT launched chip packaging with structured glass to Advanced Packaging.

LIST OF COMPANIES PROFILED:

• SCHOTT AG
• Amcor plc
• AptarGroup, Inc.
• West Medical Services, Inc.
• Berry Global Inc.
• Gerresheimer AG
• WestRock Company
• Becton, Dickinson U.K. Ltd
• O-I Glass, Inc.
• SGD Pharma
• Comar
• CCL Industries
• Vetter Pharma-Fertigung GmbH & Co. KG
• Others

KEY INDUSTRY DEVELOPMENTS:

• March 2022- Berry Global has partnered with Pylote for the launch of an ophthalmic multidose dropper combining high barrier with unique antimicrobial protection properties. This will help avoid the risk of microbial infections for patients.
• January 2022- West has made a strategic move by collaborating with Corning Incorporated to enable the advanced drug containment and delivery solution systems to expand Corning's Valor® Glass technology to enable advanced injectable drug packaging and delivery systems for the medical industry.  

SEGMENTATION

By Packaging Type

• Primary
• Secondary
• Tertiary

By Material

• Plastics
• Paper & Paperboard
• Glass and Metal

By Product Type

• Bottles
• Blisters
• Caps & Closures
• Syringes
• Vials & Ampoules
• Bags & Pouches
• Sachet
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa