Market Trends of Healthcare Packaging Industry
Blister Packs are Expected to Witness Significant Growth
- Blister packs are one of the popular and convenient dosage formats. Companies operating in the healthcare packaging industry are economical alternatives to those offered in traditional markets where healthcare and pharmaceutical companies meet sustainability goals and shelf life requirements. Blister packs are used in medical devices and instruments such as catheters and subcutaneous syringes. However, blister packs are less useful in packaging medical devices than in pharmaceutical packaging.
- The occurrence of new diseases focused on population health management, the emergence of informed customers, and the growth of OTC (over-the-counter) drugs have augmented the growth of blister packaging in the pharmaceutical industry. Also, blister packaging has gained popularity to protect medication from moisture. In response to these trends, companies like Burgopak and Ecobliss have developed innovative blister packaging that is child-proof.
- Market vendors are making significant first-mover initiatives catering to material use. For instance, in June 2024, Keystone Folding Box, a specialist in paperboard packaging, introduced the Push-Pak, a paperboard blister wallet designed for medicine tablets. This innovative solution features a straightforward push-through opening system, eliminating the necessity for complex opening instructions. Additionally, its compact blister arrangement minimizes the overall size of the package.
- Moreover, in February 2024, Boots, the pharmacy chain, announced that it would broaden its recycling initiative for medicine and vitamin blister packs across its outlets. Due to their complex nature, blister packs cannot be recycled through local authority curbside collections, leading to their common disposal in landfills or incineration.
- In 2023, the Consumer Healthcare Products Association (CHPA) reported that OTC sales in the United States surpassed USD 43 billion, marking a substantial rise from approximately USD 28 billion in 2011. Leading the charge in sales, categories such as vitamins, cold/allergy sinus tablets, and internal analgesics dominated the US OTC market. This surge in OTC medicine sales has, in turn, spurred a heightened demand for blister packs.
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North America is Expected to Dominate the Market
- In North America, the United States and Canada are countries with booming economies, aging population segments, well-developed healthcare delivery systems, gross domestic product (GDP) levels, and health insurance. However, the United States is one of the largest geographic markets for healthcare packaged products due to its advanced primary care community, extensive healthcare and life sciences research activities, high healthcare cost concentration, and large pharmaceuticals.
- Moreover, the rise in chronic diseases among the aging population further drives the need for effective medical device packaging. Devices for managing chronic conditions, such as insulin pumps, must be securely packaged to ensure their functionality and reliability. As the prevalence of chronic diseases rises, packaging innovations are expected to focus on enhancing device protection, ease of use, and patient safety, addressing the unique needs of an aging population.
- The medical technology sector stands out as a beacon of success in manufacturing in the United States, blending swift innovation with precise product development and global distribution. Offerings span advanced tools like nanotechnology and advanced imaging to everyday essentials like bandages and thermometers. The sector leads the world and boasts robust domestic R&D, manufacturing hubs in communities of all sizes, and a significant export footprint for American products.
- According to the Advanced Medical Technology Association, the United States is one of the largest medical device markets across the world, accounting for more than 40% of its total value. Industry leaders are driving growth through strategies like innovating products, expanding into new markets, and forming strategic alliances, consequently driving the demand for medical device packaging.
- Canada is witnessing a robust surge in ophthalmic interventions. According to the Conference Board of Canada, not only is the frequency of these interventions on the rise, but the number of individuals undergoing at least one ophthalmic procedure is set to double in the upcoming decades.
- Since ophthalmic packaging is vital for safeguarding the safety, sterility, and effectiveness of eye-related products, ranging from eye drops and ointments to surgical instruments, the surge in the number of interventions would escalate the demand for medical device packaging.
- As per the UN Comtrade Trade Map, in 2023, the United States emerged as the top global exporter of health equipment, with exports valued at approximately USD 36.6 billion. Germany secured the second position, exporting health equipment worth about USD 19 billion. Given the United States' significant export capabilities in health equipment, there is an increased demand for robust healthcare packaging.
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