According to Nova one advisor, the global Healthcare Packaging market value was estimated at US$ 102 Billion in 2020 and is projected to reach US$ 154 Billion by 2027, registering a CAGR of 5.0% from 2020 to 2027. The report contains 150+ pages with detailed analysis. Growth of the pharmaceutical industry and high demand for medicinal supplies & drugs have created a positive impact on the healthcare packaging market. Plastic is the major material used to manufacture healthcare packaging solutions worldwide. Healthcare packaging solutions witness a never-ending demand of bags, pouches, envelopes, boxes, clamshells, and bottles & jars. In terms of packaging format, both rigid and flexible packaging formats are in high demand; of these, rigid packaging holds maximum market share as it includes ampoules & vials, aerosol cans, containers, and folding cartons for upgraded packaging needs of the pharmaceutical industry.
Plastic is the most used material for producing healthcare packaging solutions, due to its lightweight and recyclable and re-usable attributes. Among all materials, plastics such as polyethylene (high-density polyethylene, low-density polyethylene and linear low-density polyethylene), polypropylene, polyethylene terephthalate, polyvinyl chloride, and many other variants of plastics are majorly used. Other materials used in manufacturing healthcare packaging solutions are metal (aluminum, tin), glass, and paper & paperboard.
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The market survey provides compelling insights into important drivers that enable growth. It highlights untapped potential in a variety of industries. For the purpose of the study, the market has been segmented in terms of by Packaging Format, Material Type,, and regions. The report presents an incisive view of various factors impacting growth across these categories. Challenges posing threat also are studied in detail.
Apart from underscoring unexplored prospects, the report is intended to prepare businesses for unforeseen challenges in the future. It covers recommendations to help them navigate their businesses through obstacles to continue reporting growth at a sustainable pace.
COVID-19 Impact on Healthcare Packaging Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Healthcare Packaging market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Healthcare Packaging market 2021 onwards. This trend will however continue through the course of the report’s assessment period
Emerging Nations to Continue Attracting Investments
The expansion of various industries across India, China, Brazil, and other emerging countries will help the Healthcare Packaging market flourish. Consistent investment towards industrialization and urbanization, as well as the implementation of policies favouring foreign investment, will continue to be major growth drivers.
Expansion initiatives undertaken by various countries will aid the growth of the Healthcare Packaging market. Besides, the easy availability of raw materials and labours at a cheaper cost will attract an increasing number of companies within the Healthcare Packaging market.
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Growing Preference for Lightweight, Economical Plastic Packaging
- Healthcare packaging has evolved in many aspects; one of them is a shift in material preference of manufacturers from glass to plastic. Traditionally, glass is the preferred material in the manufacturing of pharmaceutical packaging solutions. Glass offered protection for the internal contents and the material did not react with any of contents, keeping the initial formulation intact for a longer period.
- Manufacturers and consumers were concerned about safe handling, storage, and transportation of these bottles for a very long time, but the unavailability of compatible alternatives has kept the demand for glass packaging on the rise
- With innovation and technological advancements, plastic packaging was introduced in the market that was not only able to keep the content intact but was drastically less fragile than glass. Furthermore, plastic packaging solutions are light in weight and offer excellent barrier properties against moisture, gas, solvent, and most of the environmental factors. These properties of being lightweight, comparatively economical, and ease in availability of raw materials have drastically increased the profitability for manufacturers. These factors significantly have increased the supply of plastic packaging solutions in the pharmaceutical packaging market.
List of key players:
· Amcor plc
· Gerresheimer AG.
· DS Smith Plc
· Huhtamäki Oyj
· Berry Global, Inc.
· Sonoco Products Company
· Sealed Air Corporation
· Constantia Flexibles Group GmbH
· Winpak Ltd.
· CCL Industries Inc.
· 3M Company
· Dunmore Corporation
· Toray Plastics (America). Inc.
· WestRock Company
· Mondi Group
· BillerudKorsnäs AB
· Ball Corporation
· Honeywell International
· Klöckner Pentaplast Europe GmbH & Co. KG
· Avery Dennison Corporation
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Healthcare Packaging Market by Packaging Format
- Flexible Packaging
- Bags & Pouches
- Envelopes
- Tubes
- Sachets
- Rigid Packaging
- Trays
- Boxes & Folding Cartons
- Clamshells
- Blisters
- Bottles & Jars
- Containers
- Aerosol Cans
- Ampoules & Vials
Healthcare Packaging Market by Material Type
- Plastic
- Polyethylene
- HDPE
- LDPE
- LLDPE
- Polypropylene
- PET
- Polystyrene
- Polyvinyl Chloride
- Polyamide/EVOH
- Polyurethanes
- Other Plastics
- Polyethylene
- Metal
- Aluminum
- Tin
- Glass
- Paper & Paper Board
Healthcare Packaging Market by End Use
- Pharma & Biological
- Medical Supply
- Gloves
- Scissors
- Syringe & needles
- Surgical Tapes
- Others
- Medical Equipment
- Surgical
- Therapeutic
- Diagnostic
The regional segmentation covers:
-North America Region (U.S., Canada, Mexico)
-Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
-Asia-Pacific Region (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
-South America Region (Brazil, Argentina, Columbia, Rest of South America)
-The Middle East & Africa Region (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Table of content
Continued…
Key Findings of the Healthcare Packaging Market Study
- Backed by the presence of well-established industrial infrastructure and willingness to spend on advanced technologies will strengthen North America’s hold in the global market.
- The Europe market will continue gaining from surging demand in Germany, U.K., Italy, France, and Spain.
- Investment towards industrialization and favourable policies intended at encouraging foreign investment will drive growth in India and China, sealing Asia Pacific’s position as a highly lucrative market for Healthcare Packaging.
- In Latin America, the market will gain from surging focus on economic development.
Why Buy this Report?
The purpose of Nova one advisor’s Healthcare Packaging market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
Some of the key highlights of the report are:
- Healthcare Packaging Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Nova one advisor presents the most precise rate of growth for the market for the assessment period starting from (start year) to (end year).
- Healthcare Packaging Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Key Market Segments – To present an exhaustive overview, the global Healthcare Packaging market is segmented in terms of by Packaging Format, Material Type,, and region. Opportunities existing across each of these categories are reflected on to help businesses realize their true potential.
- Competitive Landscape Analysis – Some of the leading companies operating in the Healthcare Packaging market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
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The post Healthcare Packaging Market Value Predicted To Reach US$ 154 Billion By 2027 Covering COVID-19 Impact: Nova one advisor appeared first on Flair Insight.
