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Flexible Packaging for Healthcare Market Analysis by Material (Paper, Plastic, Aluminum, Bioplastics, and Others); by Product (High Barrier Films, Wraps, Seals, Bags & Pouches, Lids & Labels, and Others); and by End-User (Medical Devices, Pharmaceuticals, Contract Packaging, Implant Manufacturing, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Huhtamäki Oyj to unveil its ice cream packaging, ICON, that is recyclable and sustainable. The packaging system is launched in the United States and manufactured with 95% biobased materials.
  • Mondi plc to collaborate with Handl Tyrol, an Austrian bacon producer, to offer innovative mono-material polypropylene (PP) barrier packaging solution for bacon. It is further utilized since it can prevent food waste by providing vacuum packaging.

Global Flexible Packaging for Healthcare Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

~USD 15 Billion

Forecast Year Market Size (2033)

~USD 25 Billion

The global flexible packaging for healthcare market is estimated to garner a revenue of ~USD 25 billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 15 million in the year 2022. The growth of the market can primarily be accounted to the rising health expenditure per capita across the globe. As per the data provided by the World Bank, the world health expenditure was estimated to reach 1,121.9 U.S. dollars in 2019.  

Flexible-Packaging-for-Healthcare-Market-Size

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Global flexible packaging for healthcare market trends such as, the skyrocketing sales volume of tablets & capsules and rising government initiatives for the development of drugs and medicines are projected to influence the growth of the market positively over the forecast period. For instance, the tablet segment is projected to reach a total volume of approximately USD 55 billion in 2018 while in 2022, the shipment of tablets across the globe hit nearly 40 million units. Moreover, the rising production of corrugated boards is further anticipated to hike the market growth over the forecast period. As of 2020, the production of corrugated board was expected to reach approximately 170 million tons. Hence, all these factors are estimated to hike the growth of the market over the forecast period.

Global Flexible Packaging for Healthcare Market: Growth Drivers and Challenges

Growth Drivers

  • Constantly Developing Pharmaceutical Industry

In 2021, the global pharmaceutical industry was estimated to generate total revenue of USD 1.5 trillion.

The pharmaceutical industry has a huge demand for flexible packaging since it is used to prevent drug products from decaying. Some of the common examples of these products are capsules, tablets, powders, and others. Flexible packaging can take any shape when filled with a particular product. The common types of flexible packaging are vacuum pouches, ziplock, laminated tubes, and others.

  • Growing Spending on Medicine Across the Globe 

As of 2021, it was estimated that nearly USD 1.5 trillion was spent on medicines globally which was an increase from around USD 850 billion in 2010.

  • Rising Demand for Implants

For instance, the global implant segment was projected to reach approximately USD 100 billion by the year 2023.

  • Increasing Manufacturing of Medical Devices

The orthopedic devices segment was projected to hit a total value of around USD 50 billion by 2027.

Challenges

  • Lack of Awareness and Required Workforce
  • Requirement for Higher Initial Investment
  • Decline in Supply-Chain due to COVID-19

The global flexible packaging for healthcare market is segmented and analyzed for demand and supply by end-user into medical devices, pharmaceuticals, contract packaging, implant manufacturing, and others, out of which, the pharmaceuticals segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the higher demand for flexible packaging in the pharmaceutical industry. For instance, in 2021, the pharmaceutical industry was estimated to touch off total revenue of USD 1.5 trillion.

Global Flexible Packaging for Healthcare Market Regional Synopsis

Regionally, the global flexible packaging for healthcare market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033. The growth of the market can be accounted to the rising health expenditure per capita and the growing population and disposable income in the region. For instance, the total health expenditure per capita (in USD) reached approximately 500 in China, 60,00 in India, 100 in Indonesia, 4,000 in Japan, and others in 2019. Hence, such factors are estimated to hike the growth of the market during the forecast period.

Flexible-Packaging-for-Healthcare-Market-Scope

The global flexible packaging for healthcare market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global flexible packaging for healthcare market includes the following segments:

By Material

  • Paper
  • Plastic
  • Aluminum
  • Bioplastics
  • Others

By Product

  • High Barrier Films
  • Wraps
  • Seals
  • Bags & Pouches
  • Lids & Labels
  • Others

By End-User

  • Medical Devices
  • Pharmaceuticals
  • Contract Packaging
  • Implant Manufacturing
  • Others

Top Featured Companies Dominating the Global Flexible Packaging for Healthcare Market

  • Gerresheimer AG
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Bemis Manufacturing Company
  • CCL Industries Inc.
  • WestRock Company
  • Huhtamäki Oyj
  • Datwyler Holdings Inc.
  • Mondi plc
  • Becton, Dickinson & Company
  • Amcor plc
  • Sealed Air Corporation 

 

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