Primary Health Packaging Market Global Trends, Market ShareGlobal primary healthcare packaging market estimated to value over US$ 145 billion by 2026 end and grow at a CAGR of 6% during the forecast period, 2019 to 2026.
Healthcare packaging’s major role is to protect pharmaceutical products. Healthcare products have exclusive requirements, one of the requirements is protection purity afore to packaging. Packaging of healthcare products is designed to both uphold the highest medical guidelines and standards and at the same time protect the integrity of the healthcare product. The healthcare packaging market is segmented into two parts. They are medical and pharmaceutical device packaging market. Products related to pharmaceutical are divided into two types of packaging. They are primary and secondary. Primary packaging contains elements that are in direct contact with the product. The essential task of primary packaging is to ensure and prevent the product from climatic, biological and chemical hazards which could result in product deterioration. Secondary packaging is the packaging that is visible to the customer.
The packaging is an integral part of pharmaceutical products and intended to protect the product from the external environment. Increasing quality concerns in the healthcare sector have led to the development of quality by design initiatives for better packaging of pharmaceuticals and medical devices. It mainly focused on establishing quality plans in the early stages of product development to improve the packaging process. Along with this, increasing demand for packaging to increase the safety and stability led to the development of standard procedures by government regulations created huge opportunities for manufacturers. The FDA's regulations of track-and-trace packaging have resulted in the growth of the market. Also, the French government's initiative to curb the problem of wastage of medicines by promoting improvised management of medicines and unit-dose dispensing has resulted in the growth of the market.
High investments in raw materials have hindered the growth of the market. Stringent regulations and usage of biodegradable materials for the medical package has further restrained the growth of the market.
The Asia Pacific and Latin America regions are the most lucrative market space for manufacturers due to the high consumption of healthcare products by volume. These regions are expected to witness the highest growth rate in the global market. North America is expected to account highest market share due to the high dollar opportunity. It is followed by the European region due to stringent regulatory conditions. Rest of the world is expected to account significant share in the global market due to increasing adoption.
Primary Healthcare Packaging market players include Tetra Pak International S.A., The Dow Chemical Company, Mondi Plc, International Paper, Smurfit Kappa and others.
Primary Healthcare Packaging Market Restraint:
• High investments in raw materials
• Stringent regulations
• Usage of biodegradable materials for medical package
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Primary Health Packaging Market Segmentation:
By Product Type
• Pouches
• Bags
• Trays
By End User
• Hospitals
• Clinics
• Pharmaceutical Companies
By Region:
• North America
• Latin America
• Europe
• Asia Pacific
• Rest of the World
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Key Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global Primary Healthcare Packaging Market by Product Type, by End-User, and by Region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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