Medical Packaging Market: Global Industry Analysis and Forecast (2024-2030)

Medical Packaging Market size was valued at USD 53.30 Bn. in 2023 and the Medical Packaging revenue is expected to grow at a CAGR of 6.46% from 2024 to 2030, reaching nearly USD 82.65 Bn. by 2030.

Format : PDF | Report ID : SMR_2015

Medical Packaging Market Overview:

Medical Packaging is the art of designing & science of protecting the drug content by enclosing in an authentic and suitable package for presentation, preservation, promotion & desired use of drugs and other medical products. Medicinal products often need special requirements. They are usually sterilised before putting in bottles or wrapping, this is why medical product packaging consider the most demanding norms and rules observed within medical fraternity and protect the wholeness of these goods. Product packages & analysis of packaging materials means a lot to pharmaceutical professionals to release quality packaging materials for production department.

The medical device and pharmaceutical industries are focusing on safety and sustainability in their manufacturing and packaging processes. To prevent the sale of counterfeit pharmaceuticals and medical supplies, the healthcare sector is conforming to traceability requirements. One of the most typical changes in medical and surgical equipment supply is the rise of disposable kits. Market growth is driven by strict limitations, globalization, and other economic factors. Since labels change regularly, new regulatory frameworks for information and anti-counterfeiting, it is difficult for manufacturers to develop and carry out. They have to change the packaging with the time to avoid counterfeiting.

Medical Packaging Market

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Medical Packaging Market Dynamics:

Increasing Demand for Pharmaceuticals is Fuelling the Medical Packaging Market.

The demand for medical packaging is uplifted by the aging of the global population, leading to a higher prevalence in chronic diseases as well as an increased need for pharmaceutical drugs. The prevalence of certain long-lasting diseases such as diabetes, heart diseases, cancer has raised the need for continuous medication among patients. Medical packaging is increasingly taking on more advanced forms as reflected by technologies like smart packaging which has been fitted with things like RFID tags and QR codes meant for tracking and authentication. Insight into the medical product market indicates that growth is being facilitated by discovery of fresh materials that guarantee more protection and endurance. Such materials are for example barriers; they bar light, oxygen or moisture.

The packaging of medical items ought to adhere to rigorous instructions in order to ensure safety, effectiveness, and tamper evident as set forth by regulatory agencies including the European Medicines Agency (EMA) and the Food and Drug Administration (FDA). Compliance with these regulations is the reason why better medical packaging solutions are required. For prevention of counterfeits and assurance of product quality, there have been increased utilization of new packaging technologies since serialisation and traceability are regulatory requirements. All these factors are propelling the growth of the medical packaging market.

Regulatory Compliance and Environmental Sustainability affect the Medical Packaging Market.

The medical packaging sector is mandated to adhere to stringent rules and standards set forth by governing bodies like FDA, EMA among others. Staying current with changing regulations is costly and slow. For this cause, companies find it hard to develop international market packages that are uniform given that in various nations, laws are different. Given its dependence on plastics, the environment is being degraded by the medical packaging sector. Replacement of plastics with other sustainable substitutes is a growing concern today. Biggest challenge usually lies in finding the right mix in terms of quality packaging that protects products well while achieving sustainability goals. For medical applications, coming up with materials that go against stringent medical requirements without harming the environment poses economic and technical difficulties. All these factors affect negatively on the market of medical packaging.

Medical Packaging Market Segment Analysis:

By Material, medical packaging market is divided into Plastics, Metals, Glass, Paper & paperboard, and Others. The plastics category held the largest market share. This is because plastic is the largest single raw material used for making pharmaceutical packages. In addition, they are easily turned into almost any form, are protective and cost less making them drive the market forward. Owing to the great need by packaging companies for pressure-sensitive tapes as well as labels, adhesives have grown much faster.

Furthermore, plastic packages come in weightless and act as great barriers to moisture, gas, solvent and most other environmental agents. Again, for the longest time these characteristics, light weight, relative affordability and simplicity in access to raw materials have increased profitability of manufacturers. This has led to a significant increase in the use of plastic packages ion the pharmaceutical packaging sector.

Medical Packaging Market1

Medical Packaging Market Regional Insight:

North America, dominated the medical packaging market owing to the growth of the pharmaceutical industry in the region. This region is anticipated to experience market growth because of an increase in primary packaging items demand, growth in the number of diseases and escalating expenses on healthcare. Growing demand for pharmaceuticals, and other medical products is driving the market of the medical packaging in the region.

Medical Packaging Market2

Medical Packaging Market Competitive Landscape:

In April 2022, Amcor Plc. announced the launch of sustainable packaging high shield laminate in order to enhance its pharmaceutical packaging portfolio.
In July 2022, Steri Group announced its partnership with Inflexion in order to accelerate growth and geographical expansion. It is set to help enhance the company’s service offering to better support current and future customers.

Medical Packaging Market Scope:

Medical Packaging Market
Market Size in 2023	USD 53.30 Bn.
Market Size in 2030	USD 82.61 Bn.
CAGR (2024-2030)	6.46 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segments	By Material Plastics Metals Glass Paper & paperboard Others
	By Packaging Type Primary Secondary Tertiary
	By Application Pharmaceutical & biological Surgical & medical instruments In vitro diagnostic products Medical implants Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

Medical Packaging Market Key Players:

Amcor plc.
Gerresheimer
Schott
WestRock
AptarGroup
Berry Global
Nipro
CCL Industries
West Pharmaceutical Services
International Paper
Comar
Oliver Healthcare Packaging
Sterimed
Hagilin
Inmark
Selenium Medical
Shandong Weigao Group Medical Polymer
Sopac Medical
TranscendPackaging
MP Global Products, LLC.
XX Inc

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Frequently Asked Questions

1. What is the growth drivers for the Medical Packaging Market?

Increasing demand for pharmaceuticals is the driver of the Medical Packaging Market.

2. What are the challenges of the Medical Packaging Market?

Regulatory compliance and environmental sustainability are the challenges in the Medical Packaging Market.

3. What is the projected Medical Packaging Market size & and growth rate of the Market?

The Market size was valued at USD 53.30 Billion in 2023 and the total Market revenue is expected to grow at a CAGR of 6.46 % from 2024 to 2030, reaching nearly USD 82.61 Billion.

4. What segments are covered in the Market report?

The segments covered in the market report are by Material, Packaging Type, Application, and Region.

1.   Medical Packaging Market: Research Methodology
1.1. Research Data
1.1.1.   Primary Data
1.1.2.   Secondary Data
1.2. Market Size Estimation
1.2.1.   Bottom-Up Approach
1.2.2.   Top-Down Approach
1.3. Market Breakdown and Data Triangulation
1.4. Assumptions

2. Medical Packaging Market: Executive Summary
2.1. Market Overview
2.2. Market Size (2023) and Forecast (2024 – 2030) and Y-O-Y%
2.3. Market Size (USD) and Market Share (%) – By Segments and Regions

3.   Medical Packaging Market: Competitive Landscape
3.1. Stellar Competition Matrix
3.2. Key Players Benchmarking
3.2.1.   Company Name
3.2.2.   Headquarter
3.2.3.   Product Segment
3.2.4. End-user Segment
3.2.5. Y-O-Y%
3.2.6. Revenue (2023)
3.2.7. Profit Margin
3.2.8. Market Share
3.2.9. Company Locations
3.3. Market Structure
3.3.1.   Market Leaders
3.3.2.   Market Followers
3.3.3.   Emerging Players
3.4. Consolidation of the Market
3.4.1. Strategic Initiatives and Developments
3.4.2. Mergers and Acquisitions
3.4.3. Collaborations and Partnerships
3.4.4. Product Launches and Innovation

4.   Medical Packaging Market: Dynamics
4.1. Market Trends by Region
4.1.1. North America
4.1.2. Europe
4.1.3. Asia Pacific
4.1.4. Middle East and Africa
4.1.5. South America
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Challenges
4.6. PORTER’s Five Forces Analysis
4.6.1. Intensity of the Rivalry
4.6.2. Threat of New Entrants
4.6.3. Bargaining Power of Suppliers
4.6.4. Bargaining Power of Buyers
4.6.5. Threat of Substitutes
4.7. PESTLE Analysis
4.7.1. Political Factors
4.7.2. Economic Factors
4.7.3. Social Factors
4.7.4. Technological Factors
4.7.5. Legal Factors
4.7.6. Environmental Factors
4.8. Technological Roadmap
4.9. Value Chain Analysis
4.10. Regulatory Landscape
4.10.1.   Market Regulation by Region
4.10.1.1.   North America
4.10.1.2.   Europe
4.10.1.3.   Asia Pacific
4.10.1.4.   Middle East and Africa
4.10.1.5.   South America
4.10.2.   Impact of Regulations on Market Dynamics
4.10.3.   Government Schemes and Initiatives

5.   Medical Packaging Market Size and Forecast by Segments (by Value USD Million)
5.1. Medical Packaging Market Size and Forecast, By Material (2023-2030)
5.1.1.   Plastics
5.1.2.   Metals
5.1.3.   Glass
5.1.4.   Paper & paperboard
5.1.5.   Others
5.2. Medical Packaging Market Size and Forecast, By Packaging Type (2023-2030)
5.2.1.   Primary
5.2.2.   Secondary
5.2.3.   Tertiary
5.3. Medical Packaging Market Size and Forecast, By Application (2023-2030)
5.3.1.   Pharmaceutical & biological
5.3.2.   Surgical & medical instruments
5.3.3.   In vitro diagnostic products
5.3.4.   Medical implants
5.3.5.   Others
5.4. Medical Packaging Market Size and Forecast, by Region (2023-2030)
5.4.1.   North America
5.4.2.   Europe
5.4.3.   Asia Pacific
5.4.4.   Middle East and Africa
5.4.5.   South America

6.   North America Medical Packaging Market Size and Forecast (by Value USD Million)
6.1. North America Medical Packaging Market Size and Forecast, By Material (2023-2030)
6.1.1.   Plastics
6.1.2.   Metals
6.1.3.   Glass
6.1.4.   Paper & paperboard
6.1.5.   Others
6.2. North America Medical Packaging Market Size and Forecast, By Packaging Type (2023-2030)
6.2.1.   Primary
6.2.2.   Secondary
6.2.3.   Tertiary
6.3. North America Medical Packaging Market Size and Forecast, By Application (2023-2030)
6.3.1.   Pharmaceutical & biological
6.3.2.   Surgical & medical instruments
6.3.3.   In vitro diagnostic products
6.3.4.   Medical implants
6.3.5.   Others
6.4. North America Medical Packaging Market Size and Forecast, by Country (2023-2030)
6.4.1.   United States
6.4.2.   Canada
6.4.3.   Mexico

7.   Europe Medical Packaging Market Size and Forecast (by Value USD Million)
7.1. Europe Medical Packaging Market Size and Forecast, By Material (2023-2030)
7.2. Europe Medical Packaging Market Size and Forecast, By Packaging Type (2023-2030)
7.3. Europe Medical Packaging Market Size and Forecast, By Application (2023-2030)
7.4. Europe Medical Packaging Market Size and Forecast, by Country (2023-2030)
7.4.1.   UK
7.4.2.   France
7.4.3.   Germany
7.4.4.   Italy
7.4.5.   Spain
7.4.6.   Sweden
7.4.7.   Austria
7.4.8.   Rest of Europe

8.   Asia Pacific Medical Packaging Market Size and Forecast (by Value USD Million)
8.1. Asia Pacific Medical Packaging Market Size and Forecast, By Material (2023-2030)
8.2. Asia Pacific Medical Packaging Market Size and Forecast, By Packaging Type (2023-2030)
8.3. Asia Pacific Medical Packaging Market Size and Forecast, By Application (2023-2030)
8.4. Asia Pacific Medical Packaging Market Size and Forecast, by Country (2023-2030)
8.4.1.   China
8.4.2.   S Korea
8.4.3.   Japan
8.4.4.   India
8.4.5.   Australia
8.4.6.   Indonesia
8.4.7.   Malaysia
8.4.8.   Vietnam
8.4.9.   Taiwan
8.4.10.   Bangladesh
8.4.11.   Pakistan
8.4.12.   Rest of Asia Pacific

9.   Middle East and Africa Medical Packaging Market Size and Forecast (by Value USD Million)
9.1. Middle East and Africa Medical Packaging Market Size and Forecast, By Material (2023-2030)
9.2. Middle East and Africa Medical Packaging Market Size and Forecast, By Packaging Type (2023-2030)
9.3. Middle East and Africa Medical Packaging Market Size and Forecast, By Application (2023-2030)
9.4. Middle East and Africa Medical Packaging Market Size and Forecast, by Country (2023-2030)
9.4.1.   South Africa
9.4.2.   GCC
9.4.3.   Egypt
9.4.4.   Nigeria
9.4.5.   Rest of ME&A

10.   South America Medical Packaging Market Size and Forecast (by Value USD Million)
10.1. South America Medical Packaging Market Size and Forecast, By Material (2023-2030)
10.2. South America Medical Packaging Market Size and Forecast, By Packaging Type (2023-2030)
10.3. South America Medical Packaging Market Size and Forecast, By Application (2023-2030)
10.4. South America Medical Packaging Market Size and Forecast, by Country (2023-2030)
10.4.1.   Brazil
10.4.2.   Argentina
10.4.3.   Rest of South America

11.   Company Profile: Key players
11.1. Amcor plc.
11.1.1.   Company Overview
11.1.2.   Business Portfolio
11.1.3.   Financial Overview
11.1.3.1.   Total Revenue
11.1.3.2.   Segment Revenue
11.1.3.3.   Regional Revenue
11.1.4.   SWOT Analysis
11.1.5.   Strategic Analysis
11.1.6.   Recent Developments
11.2. Gerresheimer
11.3. Schott
11.4. WestRock
11.5. AptarGroup
11.6. Berry Global
11.7. Nipro
11.8. CCL Industries
11.9. West Pharmaceutical Services
11.10. International Paper
11.11. Comar
11.12. Oliver Healthcare Packaging
11.13. Sterimed
11.14. Hagilin
11.15. Inmark
11.16. Selenium Medical
11.17. Shandong Weigao Group Medical Polymer
11.18. Sopac Medical
11.19. TranscendPackaging
11.20. MP Global Products, LLC.
11.21. XX Inc