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The global healthcare packaging market is being driven by innovation in packaging and diversification of drugs being produced in the market. With the increasing life expectancy rates, the geriatric population is constantly rising. This has increased the scope for the growth of medical device manufacturers and the pharmaceutical industry over the years, which has, in turn, aided the growth of the healthcare packaging market. Within the market, the blister packaging segment is expected to have the maximum growth due to its seal integrity and protection from moisture. Regionally, North America is expected to continue to be a leading market for healthcare packaging alongside Europe due to the presence of major pharmaceuticals and medical device manufacturers in the regions. Some of the major players in the industry also have their headquarters in the region like Avery Dennison Corporation [NYSE: AVY], Bemis Co. Inc., and WestRock Company. In the coming years, the Asia Pacific is going to witness a robust growth, with India and China developing at a strong rate in the regional market.
Aphena Pharma Solutions Inc., based in the United States, is a leading organisation offering contract packaging solutions for the medical device, pharmaceutical, and consumer health markets. It announced in May 2020 that it had approved USD 7 million for a company-wide expansion and future growth opportunities, which is to be completed by the end of 2020. Targeted expansion areas include additional manufacturing space, custom blending suites, new liquid blending vessels, and an additional high-speed bottling line. This is likely to provide an impetus to the growth of the healthcare packaging market.
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The major players in the global healthcare packaging market are WestRock Company, Sonoco Products Company, Avery Dennison Corporation, Gerresheimer AG, Dow, DuPont de Nemours, Inc., Amcor plc, Bemis Co. Inc. [Amcor], and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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