Flexible Packaging For Healthcare Market size was over USD 17.11 billion in 2024 and is anticipated to cross USD 39.75 billion by 2037, growing at more than 6.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of flexible packaging for healthcare is estimated at USD 18.03 billion..
The growth of the market can be attributed to the rising health expenditure per capita across the globe since the surge in health expenditure is observed to have a significant impact on health outcomes. Health expenditure is known to include all the aspects of health services from production to distribution and provision. 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.
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.
Growth Drivers
Constantly Developing Pharmaceutical Industry - In 2021, the global pharmaceutical industry was estimated to generate total revenue of USD 1.5 trillion. Meanwhile, the sales of pharmaceuticals in the oncologic were estimated to be around USD 100 billion in the similar year.
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. Furthermore, between 2020-21, the total export worth of drugs and other pharma products was noticed to be around USD 25 billion in India alone.
Rising Demand for Implants - For instance, the global implant segment was projected to reach approximately USD 100 billion by the year 2023. Additionally, it was also observed that approximately 34 million Americans are in the need of at least one tooth. Flexible packaging is the most suitable for the packaging of implants since it can take any shape.
Increasing Manufacturing of Medical Devices - The orthopedic devices segment was projected to hit a total value of around USD 50 billion by 2027. On the other hand, approximately 2 million medical devices of different kinds are found in the market currently. Medical devices need to be sterilized and clean, hence, flexible packaging becomes quite beneficial to pack medical devices.
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.7% |
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Base Year Market Size (2024) |
USD 17.11 billion |
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Forecast Year Market Size (2037) |
USD 39.75 billion |
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Regional Scope |
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End-user (Medical Devices, Pharmaceuticals, Contract Packaging, Implant Manufacturing)
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 these types of end-users, the pharmaceutical segment is estimated to gain the largest market share in the year 2037. 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. The pharmaceutical sector is responsible for the production and distribution of pharma products such as, steroids hormones, vaccines, antibiotics, implants, and others. Therefore, all these factors are anticipated to boost the market growth over the forecast period.
Material (Paper, Plastic, Aluminum, Bioplastics)
The global flexible packaging for healthcare market is also segmented and analyzed for demand and supply by material into paper, plastic, aluminum, bioplastics, and others. Amongst these segments, the plastic segment is expected to garner a significant share in the year 2037. The growth of the segment can be accounted the fact that flexible plastic packaging is the fastest growing segment owing to excellent properties of low leakage rate, highly recyclable, and others. Plastic packaging provides a wide range of ways to store, protect, preserve, and transport the product. For instance, it was observed that every year, around 5 trillion plastic bags are utilized by the global population. Therefore, such a higher utilization of plastic is estimated to drive segment growth over the forecast period.
Our in-depth analysis of the global market includes the following segments:
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By Material |
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By Product |
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By End-User |
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APAC Market Statistics
The Asia Pacific flexible packaging for healthcare market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the rising health expenditure per capita resulting in the escalated spending capacity and the growing population along with 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. Furthermore, the surge in the cases of cardiovascular and chronic disease boosting the production and consumption volume of medicine is also expected to expand the market size over the forecast period. In Asia Pacific, nearly 40 million people are projected to be diagnosed with diabetes in China, approximately 80 million in India, and around 9 million in Japan by 2030. Hence, such factors are anticipated to hike the market growth over the forecast period.
North American Market Forecast
The North America flexible packaging for healthcare market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the increasing demand for flexible plastic packaging in the region in the healthcare sector since the production of medicine is increasing owing to the higher consumption of medicine. For instance, it was estimated, the total spending on medicine reached approximately USD 600 billion by 2025 while around USD 550 billion were spent by Americans on medicines in 2021. Additionally, a higher prevalence of chronic diseases such as, cancer, diabetes, and others spurring the production of medicines and other health care equipment coupled with a growing geriatric population with the need for proper routine check-ups and various chronic and acute diseases in the region is also projected to hike the market growth over the forecast period.
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.
Author Credits: Abhishek Anil
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