Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Medical Packaging market is spurring the market growth in the wake of emerging healthcare facilities and for increasing life expectancy
The global medical packaging market has the potential to grow by 5% CAGR in the forecast period from 2020-2027 with the rising of critical care management, emergencies, and self-injectable injection medicines. The rapid development of biotechnology, nanotechnology, and other advanced drug delivery technologies have also promoted the selection of such packaging technologies for pharmaceuticals.
Pharmaceutical companies are innovating packaging and increasing efficiency to counter the growing threat of counterfeit medicines. Meanwhile, rising living standards and concepts of health are also bolstering the market demand for the global medical packaging market.
Moreover, compared with traditional glass medical packaging materials, plastics have the advantages of low cost, durability, stability, and cleanliness, which can significantly reduce operating costs and are favored by more and more medical packaging companies. Also, Under the situation of sustainable development, bioplastics and degradable plastic materials have become new hot spots for manufacturers.
Therefore, many R & D projects are being carried out in the field of medical packaging to develop more environmentally friendly products and market them. Bio-based packaging materials have become an outstanding choice.
Packaging Type overview in the Global Medical Packaging Market
Based on the packaging type, the global medical packaging market segmented into Bags & Pouches, Flow Wraps, Stick Packs, Trays, Clamshell Blister Packs, Boxes, Cartons, and Containers. The cartons segment has captured the highest market value in the worldwide medical packaging in the forecast period from 2020-2027. The cartons are recyclable and have considerable space for the packaging of medicines safely. It can quickly and safely transfer from one place to another and minimize the chances of breakage. Moreover, cartons are non-toxic and environmentally friendly as well.
Material Type overview in the Global Medical Packaging Market
Based on the Material type, the global medical packaging market classified as PE, PET, PP, PS, PVC, Aluminum, Glass, Paper Laminates, Fabric, and Others. The PVC segment will dominate the market share of the worldwide medical packaging market. PVC can provide chemical safety, transparency in the packaging of medicines. Also, it has properties of high resistance to chemical stress.
End-User overview in the Global Medical Packaging Market
Based on the End-user, the global medical packaging market segmented into Pharmaceuticals, Medical Devices, and Hospitals. The pharmaceutical segment will capture the largest share in the worldwide medical packaging market. The emerging cases of chronic diseases in the geriatric population and other chronic ailments have improved the medical facilities. Thus, increasing the medicine packaging market to enhance the life expectancy of the individual. Therefore, the pharmaceutical segment is fueling the market demand for the global medical packaging market.
Region Overview in the Global Medical Packaging Market
Based on geography, the global medical packaging market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific expected to hold the largest share of the global medical packaging market. It owes to emerging health facilities, stringent rules and regulation of the government, are fueling the market demand for the global pharmaceutical packaging market. Moreover, the rising need for personal care and customized medication requires labels fueling the need for small packaging manufacturers in the Asia Pacific market.
Global Medical Packaging Market: Competitive Landscape
Companies such as Alpha Packaging, Amcor Limited, Becton Dickinson and Company, Bemis Company, Inc., Gerresheimer AG, E. I. du Pont de Nemours and Company., Mondi Group, Schott AG, West Rock Company and Winpak Ltd, and others are key players in the global medical packaging market.