Size of the global US medical packaging market is anticipated to increase from 2023 to 2033 at a CAGR of 6.7%. The market value is anticipated to have increased from US$ 78.3 billion in 2023 to US$ 149.8 billion by 2033. In 2023, y-o-y growth in the medical packaging industry is predicted to be 3.29%.
The United States medical packaging market is poised for substantial growth, with an estimated Compound Annual Growth Rate (CAGR) of 5.4% expected during the forecast period. This growth is primarily driven by the expanding pharmaceutical sector, which is fueling the demand for medical packaging as a protective and secure packaging solution.
The United States is anticipated to be a dominant market for medical packaging, driven by stringent regulatory policies that encourage the development of durable, high-quality products. The presence of numerous key competitors intensifies the competitiveness of the medical packaging industry in the country.
In China, the medical packaging market is forecasted to create a significant incremental opportunity, with an estimated value of US$ 5.7 billion by 2033. The country’s continuously increasing population is a key driver behind the rapid expansion of the medical packaging industry.
China’s economic development and global awareness are also contributing to market growth, particularly in the segments of implantable devices and single-use medical products. The rising prevalence of hospital-acquired infections is expected to further boost demand for medical packaging in China by 2033.
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Companies are looking to trade internationally as globalization increases. Over the previous few decades, global imports and exports have been steadily increasing. Globalization has created numerous opportunities in the manufacturing sector.
Industrialists and manufacturers no longer want to limit themselves to the domestic market. They are now eager to trade internationally. Expanding trend of pharma/biological packaging might raise the demand for medical packaging.
Import and export between numerous countries is expanding, thereby creating a profitable growth potential for medical packaging manufacturers. Product shipping necessitates sufficient safety and protection, as well as secure delivery of goods and services. As these medical packaging solutions are useful for securing and preserving goods in transit, they are also a cost-effective way of preventing harm to products.
End users jumping on the bandwagon are trying to capture the mass market by increasing their geographic reach through import-export. They are also establishing distribution hubs that might surge sales of medical packaging.
Manufacturers of medical packaging might also have opportunities to create solutions with much better specification and quality. These are anticipated to provide customers with satisfaction regarding their product protection. Hence, with increasing global trade, demand for medical packaging is anticipated to bolster during the forecast period.
Key Takeaways from Medical Packaging Market Study:
- By material, the paper medical packaging segment is estimated to account for around 28% of the market share by the end of 2033.
- Based on end use, the pharma and biological segment is projected to register a CAGR of 7% from 2023 to 2033.
- In terms of packaging format, the pouches and bags segments are likely to together generate the most prominent share by 2033.
- The United States and China are expected to cumulatively account for about 21% of the global medical packaging industry share by the end of the forecast period.
- India medical packaging industry is projected to record a considerable share of around 3% by 2033.
“Development of bioscience and medicine is essentially the impetus behind the pharmaceutical sectors. The pharmaceutical sector makes a considerable economic contribution to Europe as one of the continent’s most successful high-tech sectors. The sector has seen a vital transition during the past five years, with a particular focus on the creation of biologic drugs. It is estimated to pave the way for new opportunities.” – Says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
Due to the existence of several competitors globally, the global market for medical packaging is subject to fierce competition. Reputable businesses are using acquisitions to bolster their market positions, which is further escalating competition. As these players directly compete for contracts with top pharmaceutical producers, this competitiveness is very obvious.
Packaging companies are putting more of an emphasis on offering value-added services to draw in more clients. They frequently use overt and covert technology such as QR codes and holographic images in their branding and anti-counterfeit packaging.
The Key Players Are:
- SCHOTT Group
- West Pharmaceutical Services
- Gerresheimer AG
- Steripack Group
- Amcor PLC
- Becton, Dickinson and Company
- DWK Life Sciences GmbH
- Sonoco Products Co.
- Berry Global Inc.
- Bormioli Pharma Srl
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For instance,
- Steri Group releaved its collaboration with Inflexion in July 2022 in an effort to hasten growth and geographic reach. It will contribute to improving the company’s service portfolio to better serve both current and potential clients.
Key Segmentations-
By Material:
- Plastic
- Glass
- Metal
- Paper
- Paperboard
By Packaging Format:
- Bags
- Tube
- Sachet
- Boxes
- Trays
- Pouches
- Ampoule
- Others (Container, Clamshells)
By End Use:
- Pharma & Biological
- Medical Supply
- Medical Equipment
- IVDs
- Implants
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan & Baltic Countries
- Middle East & Africa
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About the Packaging Division at Future Market Insights (FMI)
The packaging division at Future Market Insights (FMI) provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights (FMI) has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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