Booming trends and innovations in healthcare packaging sector
According to Towards Packaging market research report, the global healthcare packaging market size is projected to grow from USD 137.13-billion in 2023 to reach USD 229.91-billion by 2032, reflecting a CAGR of 5.9% from 2023 to 2032
16 May 2024 | 1242 Views | By Disha Chakraborty
The global healthcare packaging market has witnessed significant growth, and this trend is expected to continue in the coming years. According to Towards Packaging market research report, the global healthcare packaging market size is projected to grow from USD 137.13-billion in 2023 to reach USD 229.91-billion by 2032, reflecting a CAGR of 5.9% from 2023 to 2032.
Healthcare packaging leading growth in the Asia-Pacific region
Asia-Pacific healthcare packaging market is the largest healthcare packaging market. The Asia-Pacific region, representing a wide spectrum of diverse populations, recognises personalised healthcare as an essential tool for ensuring timely and accurate interventions when an individual is diagnosed with a disease or, more importantly, for disease prevention.
The Chinese government has done a lot to develop infrastructure in local healthcare. A health Industry Summit report published last October exposed that the Chinese government has got a 2030 master plan called ‘Healthy China 2030’ which will be used to get a healthy China in the next 15 years. The healthcare market by 2030 will have reached a size of USD 2.3-trillion.
Packaging industry in North America's healthcare sector
North America represents a fastest growing market with increased awareness about hygiene and a growing healthcare sector. Comparing the health care spending per person between wealthy countries, such as the U.S, and lower-income countries, the former likely spends more than the latter. Even among the wealthier countries, the U.S expenditure more per individual, compared with other countries.
In North America, there is no mandatory federal legislation that mandates the use of recycled content in medical devices and their packaging. Some industry associations have come up with a wider pledge namely the American Chemistry Council which commits to reuse or recover every plastic packaging by 2040 and the Canadian Plastics Industry which targets at having all plastic packaging to be reused, recycled or recovered by 2040.
Plastics cornerstone of healthcare packaging
Plastics are one of the most important and undeniable components of primary packaging of healthcare packaging. These are the main functions of packaging materials, and they are responsible for the protection and shelf life of the content, by acting as a barrier to microbes, moisture, oxygen and light. That the product is in perfect condition after two years, or that packages open without damage or contamination are the highest requirements compared with most consumer goods packaging.
The provision of the right labeling, child-resistance and the possibility of counterfeit among the regulatory environment of healthcare packaging is extremely risk-averse and restrictive, making the process of updating the packaging expensive and time-consuming.
Role of primary packaging in healthcare
The primary packaging is the one that has the direct contact with the product, and it is often called retail packaging or POS (Point-of-Sale) Packaging. The primary packaging is used both for preserving the product and for informing the consumer. In this healthcare packaging, primary packaging is the material that directly touches your medical device or drug. During the process of choosing the primary packaging solution, there are many factors that should be considered product consistency, weight, sharp or rough edges, barrier requirement, and sterilisation methods.
Strategic importance of packaging in the pharmaceutical sector
The main purpose of healthcare packaging is to preserve the drugs and to ensure that they are stored properly. It is also a crucial information tool such as labeling, leaflet in order to boost patient compliance and fight for medication errors.
Packaging industry of healthcare sector led by pharmaceutical, medical devices and medical supplies. The choice of primary and secondary packaging is a key strategic tool for pharmaceutical business. The packaging alteration involves the bags, closures, labels, and related things. There is a clear movement towards contract packagers as a source of growth in the industry which is a major factor in its rapid development.
Healthcare Packaging Market Trends
Interactive Packaging: Interactive packaging includes features like lights, sounds and vibrations, which are aimed to remind the patients that they should not skip taking their medication.
Smart Labels: It can be contained by the marking which may have printed sensors that can show variations of temperature, humidity, etc. that could impact the effective use of drugs. Another type of label is something that contains not only serial-number related data but also tamper-evident features.
RFID Tags: Radio frequency identification (RFID) tags is a new technology, which is very small and without wires. It can be embedded into packaging and used for tracking and monitoring of medication and medical devices in order to monitor their condition within the supply chain in real-time.
Temperature Monitoring: The drugs and vaccines which are temperature specific cannot be kept properly during transport and storage thus they tend to lose their goodness and become ineffective. The smart packaging solutions can be designed that would help in activation of the sensors which, ones the temperature deviates from the normal value will send an alert automatically.