Medical Packaging Market Overview and Growth by 2028

The medical packaging market is projected to reach US$ 169,183.91 million by 2028 from US$ 109,238.35 million in 2021; it is expected to grow at a CAGR of 6.4% from 2021 to 2028.

Medical packaging is essential in sustaining product quality and encouraging safe and effective use. Packaging is done for the safety of medical products for storage, distribution, sale, and use. The material used for packaging is a sterile barrier system that safeguards the drugs, equipment, and other medical products. Also, the medical packaging requires a high quality of sterility to ensure that the product is free from contamination. These medical packaging systems increase patient safety and enhance packaging performance. Factors such as increased emphasis on convenience and environmental issues and rise in demand for counterfeit prevention mechanisms are driving the medical packaging market. However, fluctuations in prices of raw materials are expected to restrict the market growth to a certain extent during the forecast period.

Medical Packaging Market: Strategic Insights

Market Insights

Rise in Demand for Counterfeit Prevention Mechanisms

Counterfeit medical products have been detected in most member states and all regions. Examples involved widely-used medicines such as atorvastatin or paracetamol; limited-use medicines such as growth hormone, paclitaxel, and filgastrim; and other kind of drugs such as sildenafil and tadalafil, as well as medical devices such as contact lenses, condoms, surgical mesh, and strips used by diabetic patients to monitor their blood glucose concentrations. Counterfeiting has affected both expensive and cheap products and generic and branded ones. Counterfeit products appear in community pharmacies, hospitals, and other less-regulated settings.

It is often assumed that high-income countries with solid regulatory systems can effectively exclude substandard and falsified medical products from their markets. However, the World Health Organization (WHO) analysis shows that this is not necessarily the case, as reports on these products have been submitted by countries in Western Europe and North America as well as other high-income settings. For example, a recent UK survey, carried out by Sapio Research and commissioned by a private company INCOPRO, concludes that almost one-third (32%) of those who have bought one or more counterfeit medicines have suffered a health issue as a result (INCOPRO, 2020). Numerous other documented cases in which patients have died or suffered harm due to an online purchase. As just one example, in 2013, people died after taking a counterfeit diet pill bought through an online drug seller. The pill, sold as a weight loss aid through many illicit online pharmacies, was actually a pesticide with lethal consequences for humans.

The threat that counterfeit medicines pose to the global pharmaceutical sector is immense. From fake formulations to issues in the manufacturing process, some industry figures believe we could be looking at revenue losses up to EUR 27 billion in Europe alone. The International Hologram Manufacturers Association (IHMA) is a good source of expertise in this field and highlights an industry report that indicates continued growth for anti-counterfeiting packaging technologies. According to the IHMA, the “Anti-counterfeiting, Authentication and Verification Technologies” report signals the added expertise holography brings to the authentication of packaging products. Technological innovation within the anti-counterfeiting, authentication, and verification technologies is a significant factor contributing to the market's growth.

The increasing demand for anti-counterfeiting techniques to protect the interests of patients has further strengthened the medical packaging's growth.

Type-Based Insights

Based on type, the medical packaging market is categorized into containers, pouches, trays, blister packets, vials, and others. In 2021, the containers segment held the largest share of the market, by type. The blister packets segment is estimated to grow at significant CAGR during the forecast period due to increasing product developments and product launches.

Material-Based Insights

Based on material, the medical packaging market has been segmented into polymer, foam, molded-fiber, non-woven fabric, films, paper & paperboard, and others. In 2021, the polymer segment held the largest share of the market, by material. Also, similar segment is expected to grow at the fastest rate during the coming years.

Application-Based Insights

Based on application, the medical packaging market has been segmented into medical devices, pharmaceutical and biotechnology, medical equipment & tools, and others. In 2021, the pharmaceutical and biotechnology segment held the largest share of the market. The same segment is estimated to grow at a significant CAGR during the forecast period due to the growing production of pharmaceutical and biotechnology product in the global markets because of the increasing prevalence of chronic diseases.

Various companies operating in the medical packaging market are adopting strategies such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their footprint worldwide, maintain brand name, and meet the growing demand from end users.

Medical Packaging Market Players Density: Understanding Its Impact on Business Dynamics

The Medical Packaging Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Medical Packaging Market – by Type

• Containers
• Pouches
• Trays
• Blister Packets
• Vials
• Others

Medical Packaging Market – by Material

• Polymer
• Foam
• Molded-Fiber
• Non-Woven Fabric
• Films
• Paper & Paperboard
• Others

Medical Packaging Market – by Application

• Medical Devices
• Pharmaceutical and Biotechnology
• Medical Equipment & Tools
• Others

Medical Packaging Market – by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of South and Central America

Company Profiles

• Amcor plc    
• DuPont de Nemours, Inc.            
• Mitsubishi Chemical Corporation   
• SGD Pharma          
• 3M    
• West Pharmaceutical Services, Inc  
• Avery Dennison Corporation        
• Sonoco Products Company          
• CCL Industries Inc.          
• WestRock Company