Medical Packaging Market: Ensuring Safety and Compliance in Healthcare, Elevate Its Value To An Impressive US$ 149.8 Billion By 2033

Introduction

In the fast-evolving world of healthcare, the significance of medical packaging cannot be overstated. It’s not just about containment; it’s about ensuring the safety and efficacy of vital medical supplies. Join us on a journey through the dynamic landscape of the medical packaging market, where we will explore the latest trends, innovations, and key insights to keep you well-informed.

Medical Packaging Market: Ensuring Safety and Quality

Medical packaging is at the heart of healthcare delivery. From medications to medical devices, it plays a critical role in preserving the integrity and sterility of products. Let’s delve into this fascinating field.

Anticipated to experience a CAGR of 6.7% during the forecast period from 2023 to 2033, the global medical packaging market is set to elevate its value from US$ 78.3 billion in 2023 to an impressive US$ 149.8 billion by 2033. The year 2023 is expected to witness a year-on-year growth of 3.29% in the global medical packaging industry.

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Competitive Packaging

• Amcor, in April 2021, unleashed new-fangled AmSkyTM blister system to offer environmentally-friendly healthcare packaging.
• Ashfield, in January 2021, announced developing 3 business divisions to offer a plethora of opportunities for medical packaging market.
• Amcor, in April 2022, did launch more sustainable and new High Shield laminates for its portfolio of pharmaceutical packaging.
• Amcor, in June 2021, did launch ACT2100 – a heat seal coating medical packaging solution with the objective of enhancing performance in healthcare applications along with serving the packaging needs of customers’ packaging.
• Amcor, in November 2019, constructed a state-of-the-art 11-layer cast extrusion line at Winterborne Centre of Excellence for cast films at Bristol (UK), investing US$ 10.87 Million.
• Wipak, in November 2019, tabled a novel pouch especially developed to pack robotic instruments and the other long devices. The basic advantage is that the devices are rendered sterile at the time of storage and transportation.

Key Players:

• 3M Company
• Amcor Plc
• Ardagh Group S.A.
• Becton, Dickinson and Company
• UDG Healthcare plc
• Berry Global Group, Inc
• Sealed Air Corporation
• Catalent, Inc.
• West Pharmaceutical Services Inc.

“Technological and scientific advancements are expected to keep the cash registers ringing for medical packaging market in the forecast period”, says an analyst from Future Market Insights.

Key Takeaways from Medical Packaging Market

• North America holds the largest market share with due to the US being home to large number of key participants.
• Europe holds a sizable market share due to extensive research being conducted on this count. There are players like CureVac and BioNTech that have been proven successful regarding their vaccines; which has prompted the other players to invest in biotech vertical in the UK, Russia, and Germany.
• The Asia-Pacific is expected to grow at a faster rate in the medical packaging market. This could be credited to India and China leading from the front; like ‘Healthy China 2020’ coupled with growing geriatric population.

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Market Benefits

1. The study provides an in-depth analysis of the global medical packaging market along with the current trends and future estimations to elucidate the imminent investment pockets.
2. The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
3. An extensive analysis of the market based on application assists in understanding the trends in the industry.
4. The report presents a quantitative analysis of the market from 2022 to 2032 to enable stakeholders to capitalize on the prevailing market opportunities.

Key Segments Profiled in the Medical Packaging Market

By Material:

• Plastics/Polymers
• Glass
• Metal
• Others

By Application:

• Bottles
• Trays
• Syringes/Ampoules/Vials
• Blister Packs
• Bags & Pouches
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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