Global Healthcare Packaging Market Set to Reach USD 200.8 Billion by 2031, With a Sustainable CAGR Of 4.10%

Jan 04, 2024

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10 May, 2023, 04:18 ET

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PUNE, India, May 10, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Healthcare Packaging Market by Material (Plastic, Metal, Glass, and Paper & Paper Board), Product (Bottles & Containers, Vials & Ampoules, Cartridges & Syringes, Pouches & Bags, Blister Packs, Tubes, Paper Board Boxes, Caps & Closures, Labels, and Others), Application (Pharmaceutical, Medical Devices, and Others), and Region: Size, Share, Trends, and Opportunity Analysis, 2023-2031", the market was valued at USD 140.4 billion in 2022 and is expected to reach USD 200.8 billion, expanding at a CAGR of 4.10% by the end of 2031. The market growth is attributed to the rising introduction of medical devices in the pharmaceutical industry and the need for convenient and handy packaging.

Key Market Players Profiled in the Report

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the industry's market dynamics. It provides an in-depth analysis of the market segments, including component, deployment mode, and competitor analysis.This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

Highlights on the Segments of the Healthcare Packaging Market

On the basis of material, the healthcare packaging market is divided into plastic, metal, glass, and paper & paper board. The plastic segment is projected to register a considerable CAGR during the forecast period due to its ease of plastic packaging carrying, thus it is highly preferred by manufacturers and consumers.

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In terms of the product, the market is segmented into bottles & containers, vials & ampoules, cartridges & syringes, pouches & bags, blister packs, tubes, paper board boxes, caps & closures, labels, and others. The blister packs segment is expected to grow rapidly during the forecast period, owing to the increasing sale of over-the-counter drugs in the pharmaceutical industry to protect medicines from moisture.

Based on the application, the global healthcare packaging market is segregated into pharmaceuticals, medical devices, and others. The pharmaceutical segment is expected to expand significantly due to its wide use in maintaining sterility and preventing product contamination.

On the basis of region, the market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in North America is expected to grow at a rapid pace in the coming years owing to the presence of a well-established medical setup that includes healthcare institutions and health insurance facilities, and a high gross domestic product (GDP).

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Key Takeaways from the Study:

Read 165 Pages Research Report with Detailed TOC on "Healthcare Packaging Market by Material (Plastic, Metal, Glass, and Paper & Paper Board), Product (Bottles & Containers, Vials & Ampoules, Cartridges & Syringes, Pouches & Bags, Blister Packs, Tubes, Paper Board Boxes, Caps & Closures, Labels, and Others), Application (Pharmaceutical, Medical Devices, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030"

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Key Segments Covered

Material

Product

Region

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Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, and secondary research & consumer surveys.

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