The healthcare packaging market is expected to reach USD 265.45

Market Overview:
Global Healthcare Packaging Market was valued at USD 182.72 Billion in 2021 and is projected to reach USD 265.45 Billion by 2028, growing at a CAGR of 5.48% globally.

Healthcare packaging includes products packaged in various forms such as bags, bags, trays and other carriers. Healthcare packaging includes primary packaging, secondary packaging and tertiary packaging. It provides several functions such as maintaining longer shelf life, increasing product quality, and saving and sustaining human life. Packaging is used to store medicines or drugs that are manufactured for the purpose of treating a disease or disorder. Packaging provides many benefits such as maintaining product stability, protecting products against tampering, contamination and breakage, and ease of transportation.

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Market dynamics:
Increase in the prevalence of chronic diseases
Growing aging of the population and changes in social behavior contributing to the rising incidence of chronic diseases are the major factors supporting the growth of the market. According to the WHO, the prevalence of chronic diseases will increase by 57% by 2020. Governments and individuals want to lead healthy lives; hence, several drugs or drugs are available in the market to treat the condition. Packaging is required for each drug to prevent external spoilage and contamination. Due to the rapid increase in chronic diseases, governments in the regions have been researching and developing effective new drugs for the treatment of chronic diseases to support the growth of the market, including healthcare packaging.

Growth of pharmaceutical sectors around the world
A growing number of pharmaceutical industries across the globe are presenting lucrative opportunities in the healthcare packaging market. The approval of a drug by regulatory bodies supports the rise of pharmaceuticals. For example, according to Statista, 50 new drugs were approved in 2021 by the Centers for Drug Evaluation and Research (CDER), providing a paid opportunity for healthcare packaging. Mergers and acquisitions are on the increase in the pharmaceutical industry, which stimulates the development of new drugs. Apart from this technological advancement, it is also contributing to the growth of pharmaceuticals which are expected to provide lucrative opportunities for the healthcare packaging market in the coming year.

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Healthcare Packaging Market Segmentation Analysis:
By type:
pharmaceutical packaging is expected to dominate the healthcare packaging market over the forecast period. Pharmaceutical packaging provides containment and presentation of information and aids in product identification.

By type of material:
the polymer is expected to have maximum market share in the healthcare packaging market share during the projected period. Polymer is also known as plastic. Polymers are durable in nature, without being fragile, lightweight and economical.

Per package:
primary packaging is expected to witness strong growth in the healthcare packaging market over the forecast period. Primary packaging directly or indirectly comes into contact with the product and is also referred to as retail or consumer packaging.

By end users:
the pharmaceutical segment is expected to have maximum market share in the healthcare packaging market over the projected period. Effective packaging is an important element in the pharmaceutical industry and it protects the drug during storage, transport, sale and use.

By type:
• Pharmaceutical packaging
• Medical packaging

By type of material:
• Polymer
• Paper
• Non-woven fabric
• Glass
• Others

Per package:
• Primary packaging
• Secondary packaging
• Tertiary packaging

Per end user:
• Pharmaceutical
• Medical equipement
• In vitro diagnostic products

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Regional Analysis For Healthcare Packaging Market:
North America is expected to hold the maximum market share of the healthcare packaging market over the projected period. Growing number of healthcare and medical sectors in this region and growing demand for healthy and nutritional products in this region are the factors supporting the growth of the market.

By region:
• North America (United States, Canada, Mexico)
• Europe (Germany, UK, France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, rest of APAC)
• Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South Africa)

Top Key Players Covered in Healthcare Packaging Market are:
• Amcor (Switzerland)
• Baxter (United States)
• Comics (United States)
• Bemis (United States)
• Gerresheimer (Germany)
• Schott (Germany), and other major players.

Key industry development in the healthcare packaging market:
• In January 2021, Gerresheimer announced its plan for the production of the new factory near Mumbai, India, to meet global requirements for plastic healthcare packaging. plastic containers, plastic bulbs, plastic bottles and many more in different designs are part of the product portfolio.
• In January 2020, Gx Elite was launched by Gerresheimer AG. This is a premium quality injection bottle for excellent patient safety. The purpose of these premium tubular glass vials is to meet the demands and expectations of customers in the pharmaceutical market, including the higher requirements for patient safety.

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The analysis objectives of the report:
• To identify the major sub-segments of the Healthcare Packaging market to understand its structure.
• Identifies, describes and analyzes the sales volume, value, market share, market competition landscape, opportunities and threats, and strategic initiatives for key global Healthcare Packaging manufacturers for upcoming years.
• To examine Healthcare Packaging in terms of specific expected growth, career prospects, and contribution to market share.
• Analyze business developments in the market, such as market expansions, partnerships, new product development and mergers.
• Develop a strategic analysis of the main actors and an in-depth analysis of their strategic planning.

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