North America Medical Packaging Market Outlook
According to a recent market research report titled “North America Medical Packaging Market Forecast to 2028 – COVID-19 Impact and Regional Analysis by Material, Type, Application, and Country,” the medical packaging market in North America is projected to grow from US$ 34.27 billion in 2021 to US$ 51.91 billion by 2028, at a compound annual growth rate (CAGR) of 6.1% during the forecast period.
📚𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 – https://www.businessmarketinsights.com/sample/TIPRE00023862
The report highlights key trends shaping the industry, including a rising focus on product safety, convenience, and environmental sustainability. The growing demand for anti-counterfeiting solutions and eco-friendly packaging materials are among the primary drivers fueling market growth.
However, the market faces challenges such as volatile raw material prices, which may pose a risk to consistent growth across the region.
Market Introduction
The North America medical packaging market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Manufacturing giant Siemens has also adopted a substance transparency policy as part of their broader “Product Eco Excellence” program. These declarations allow one to see not just the elements in these products but also their quantity. Further, Roche Diabetes Care offers services to help recycle their product packaging. The Swiss company’s insulin pump tubing comes in Tyvek plastic, which needs specialists to recycle correctly. By providing customers the means to send their packaging to a recycling center, they can make sure that the packaging does not end up in a landfill. In addition, medical device manufacturers are fostering eco-friendly consumers by promoting sustainable practices. Conferences like CleanMed showcase the ways healthcare companies are going green, inspiring other businesses and individuals to take similar steps in their work and lives. Rising awareness about environmental issues and increasing government regulations are pressurizing the pharmaceutical companies to move toward sustainable processes. These developments by the medical devices and pharmaceutical vendors provide scope for the expansion of the medical packaging market.
North America Medical Packaging Strategic Insights
Strategic insights for the North America Medical Packaging provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Medical Packaging Report Scope
| Attribute | Details |
| Market Size (2021) | US$ 34,268.07 Million |
| Market Size (2028) | US$ 51,905.62 Million |
| CAGR (2021–2028) | 6.1% |
| Historical Data | 2019–2020 |
| Forecast Period | 2022–2028 |
| Segments Covered | |
| By Material | Polymer, Foam, Molded-Fiber, Non-woven Fabric, Plastic, Films, Paper and Paperboard |
| By Type | Containers, Pouches, Trays, Blister Packets, Vials |
| By Application | Medical Devices, Pharmaceutical & Biotechnology, Medical Equipment & Tools |
| Regions/Countries Covered | North America (US, Canada, Mexico) |
| Key Companies | Amcor plc., DuPont, Mitsubishi Chemical, SGD Pharma, 3M, West Pharmaceutical, Avery Dennison, Sonoco, CCL Industries, WestRock |
North America Medical Packaging Regional Insights
The geographic scope of the North America Medical Packaging refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Market Overview and Dynamics
The medical packaging market in North America is expected to grow from US$ 34,268.07 million in 2021 to US$ 51,905.62 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The Internet of Things (IoT) is revolutionizing the healthcare packaging industry as it enables many possibilities to essential aspects such as tracking of shipments and missed medications, which, in turn, will enhance not only the clinical workflow but also the quality of life. Like any other domain (or industry) that hitchhikes onto the latest technological innovations, IoT in packaging also offers many features previously unseen, such as bi-directional communications, tracking, and status display mechanisms. Considering the crucial aspect of timely administering of medication, the prominent role of IoT in healthcare packaging may be in ensuring the frequency and dosage, thereby ensuring efficacy. It is now possible to replace the medicine container with IoT solutions to link to a cloud-based application. A patient and their doctor can input the information and use audio-visual indicators to remind the patient to take medication at a particular time. A smart medicine box with innovative pharmaceutical packaging can revolutionize in-home healthcare services. IoT smart packaging can help control the entry of substances in healthcare environments, which may be linked with security measures and to the right patient, ensuring traceability. This is of great importance in emerging markets to tackle counterfeiting challenges and illegal recycling. In India, examples of illicit recycling could be the reuse of syringes and medical waste cotton. IoT in packaging could introduce the relevant electronic circuitry in a chip or printed electronic element the provides a unique signature.
Key Market Segments
Based on material, the polymer segment accounted for the largest share of the North America medical packaging market in 2021. Based on type, the containers segment accounted for the largest share of the North America medical packaging market in 2021. Based on application, the pharmaceutical & biotechnology segment accounted for the largest share of the North America medical packaging market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America medical packaging market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Amcor Plc.; DuPont de Nemours, Inc.; Mitsubishi Chemical Corporation; SGD Pharma; 3M; West Pharmaceutical Services, Inc.; Avery Dennison Corporation; Sonoco Products Company; CCL Industries Inc. and WestRock Company.
Reasons to buy report
- To understand the North America medical packaging market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America medical packaging market
- Efficiently plan M&A and partnership deals in North America medical packaging market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America medical packaging market
- Obtain market revenue forecast for market by various segments from 2019-2028 in North America region.
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
