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Press Release

High Demand for Healthcare Packaging Anticipated Due to Increased Healthcare Spending: Technavio

Technavio Research
Posted on: 26 Oct 16

According to the latest market study released by Technavio, the global healthcare packaging marketis expected to grow at a CAGR of more than 6% during the forecast period.

This research report titled ‘Global Healthcare Packaging Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

Based on Technavio researchers’ findings, healthcare spending has increased from 9% of the global GDP in 2000 to around 11% of the global GDP in 2015. Per capita healthcare spending will grow faster than per capita income. This will lead to an increase in the percentage of the global GDP spent on healthcare and boost the demand for healthcare products including healthcare packaging.

Request a sample report: http://www.technavio.com/request-a-sample?report=53930

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Based on product type, the report categorizes the global healthcare packaging market into the following segments:

  • Plastic bottles
  • Caps and closures
  • Blister packs
  • Pouches
  • Trays
  • Pre-fillable syringes
  • Parenteral containers
  • Clamshells
  • Pre-fillable inhalers
  • Medication tubes
  • Other packaging

The top three revenue generating product segments in the global healthcare packaging market are discussed below:

Global healthcare plastic bottles market

Plastic bottles are the most commonly used product for the packaging of pharmaceutical drugs, even though their usage is expected to grow at the slowest pace during the forecast period. Bottles will remain the most broadly utilized packaging type for oral medications distributed in bulk to retail pharmacists. They will also continue to dominate applications in OTC medicines sold in tablet and capsule form of 50 or more.

According to Sharan Raj, a lead packaging research analyst at Technavio, “The major advantage of plastic bottles is that they keep the composition of products unaltered in changing external conditions and do not contaminate the contents inside.”

The global healthcare plastic bottles market was valued at USD 12.14 billion in 2015 and is expected to reach USD 15.29 billion by 2020, growing at a CAGR of close to 5%.

Global healthcare caps and closures market

Caps and closures are essential components of packaging, which function in the prevention of product leakages and aid in tamper-resistant packaging, compliant to regulatory authorities such as the FDA. These components are also used in child-resistant packaging for OTC drugs, which require closures less than 20 millimeters in diameter,” explains Sharan.

Closures are of various types such as threaded ribbed closures, smooth wall closures, dropper tip caps, orifice reducers, spray mist fitments, snap caps, extended dispensing tips, and roll-on closures. They are made of a range of plastic resins and rubber. These products are available in a variety of ranges and being a low-cost product, are sold to pharma companies only in minimum order sizes. The global healthcare caps and closures market was valued at USD 9.01 billion in 2015 and is expected to reach USD 11.96 billion by 2020, growing at a CAGR of almost 6%.

Global healthcare blister market

Blister packages have two elements: forming films and lidding elements. The forming films are usually made from polyvinyl chloride (PVC) and the lidding elements are mostly made from laminate of paper and foils, printed foils, or in some cases, plastic. These packs have certain advantages over conventional modes of packaging such as integrity of product, patient compliance, trace evidence in case of tampers, and lower probability of misuse. They assist in increasing the shelf life of products.

This type of packaging is also associated with cost savings of almost 10% to 50% in the case of OTC drugs. Drug manufacturers should adopt packaging keeping in mind ease of use although selection and recommendation of pharmaceutical products are escalated by medical practitioners. The global healthcare blister market by was valued at USD 8.45 billion in 2015 and is expected to reach USD 11.26 billion by 2020, growing at a CAGR of close to 6%.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Amcor
  • Baxter
  • BD
  • Bemis
  • Gerresheimer AG
  • Schott

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161026005237/en/

Business Wire
www.businesswire.com

Last updated on: 26/10/2016

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