The global healthcare packaging market will reach a value of $101.3 billion in 2015 and will grow at a Compound Annual Growth Rate of 6.3% between now and 2025, says a new report from visiongain, a London-based business intelligence provider.
“Healthcare Packaging Market Forecast 2015-2025,” notes that strong growth in the healthcare sectors around the world and increasing functional requirements for healthcare packaging products are some of the key growth factors in the global healthcare packaging market. A global ageing population, changing lifestyles, and the increasing prevalence of chronic diseases will strengthen the demand for healthcare products and services, stimulating growth in the healthcare packaging market.
Other important drivers of growth include the increasing incomes and higher living standards in emerging markets such as China and India, where the healthcare packaging market has recently exhibited double-digit growth rates. Despite the rapid growth observed in the emerging economies, we forecast the U.S. will lead the healthcare packaging industry throughout the forecast period.
Materials, package type predictions
Plastics will hold the greatest market share in the materials healthcare packaging market, mainly due to their cost effectiveness and high adaptability. Visiongain expects this submarket to continue exhibiting fast growth throughout the forecast period. Glass as a healthcare packaging material will be gradually replaced by other substitutes like plastics
In the healthcare packaging market by type, the prefillable syringes submarket will see the strongest growth, predicts visiongain. Meanwhile, the parenteral vials and ampules submarket will continue to be the second-fastest growing market.
The booming biologics market, where injection is normally the delivery method of choice, is the main growth driver of these two markets.
Market restraints
The global healthcare packaging market does face many restraints, however. The widespread cost containment measures placed on healthcare expenditure by governments is placing an increasing cost pressure on the healthcare packaging market. Changing regulations in the healthcare sector can also have major effects on the way healthcare packaging manufacturers operate.
Furthermore, greater buyer power and more intense competition within the healthcare packaging industry have resulted from the healthcare industry consolidation.
Future forecasts
What is the future of the healthcare packaging market? Visiongain's 306-page analysis contains quantitative content that provides analysis and illustrates new opportunities and potential revenue streams that can companies gain a competitive edge. In addition to market forecasts from 2015 to 2025, the new study shows current market data, market shares, original critical analysis, and reveals insight into commercial developments. The report provides 224 tables, charts, and graphs, and provides two exclusive expert company interviews from Walter Berghahn, Executive Director of the Healthcare Compliance Packaging Council (HCPC), and President of SmartRmeds for Life, and from Dr. Laura Bix, Associate Professor at the School of Packaging at Michigan State University and adjunct associate at Clemson University.
The report also explores the factors affecting product developers, the value chain, and describes the forces influencing market dynamics. It observes the strengths, weaknesses, opportunities and threats (SWOT) affecting the industry and product advances. The report dives into the subjects of R&D strategy, technological issues and constraints, supply and demand dynamics, increasing specialization by leading players, advances in product quality, and demographic changes. It identifies companies in in the healthcare packaging business that it believes hold the greatest potential.
To request an executive summary and/or overview of this report please email Sara Peerun at [email protected] or call 011/44 (0) 20 7336 6100.
