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.
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Based on product type, the report categorizes the global healthcare packaging market into the following segments:
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:
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View source version on businesswire.com: http://www.businesswire.com/news/home/20161026005237/en/Business Wire
Last updated on: 26/10/2016
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