The medical packaging market is projected to reach US$ 169,183.91 million by 2028 from US$ 109,238.35 million in 2021; it is expected to grow at a CAGR of 6.4% from 2021 to 2028.
Medical packaging is essential in sustaining product quality and encouraging safe and effective use. Packaging is done for the safety of medical products for storage, distribution, sale, and use. The material used for packaging is a sterile barrier system that safeguards the drugs, equipment, and other medical products. Also, the medical packaging requires a high quality of sterility to ensure that the product is free from contamination. These medical packaging systems increase patient safety and enhance packaging performance. Factors such as increased emphasis on convenience and environmental issues and rise in demand for counterfeit prevention mechanisms are driving the medical packaging market. However, fluctuations in prices of raw materials are expected to restrict the market growth to a certain extent during the forecast period.
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Top Market Players
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 are among the major companies operating in the market.
Rise in Demand for Counterfeit Prevention Mechanisms
Counterfeit medical products have been detected in most member states and all regions. Examples involved widely-used medicines such as atorvastatin or paracetamol; limited-use medicines such as growth hormone, paclitaxel, and filgastrim; and other kind of drugs such as sildenafil and tadalafil, as well as medical devices such as contact lenses, condoms, surgical mesh, and strips used by diabetic patients to monitor their blood glucose concentrations. Counterfeiting has affected both expensive and cheap products and generic and branded ones. Counterfeit products appear in community pharmacies, hospitals, and other less-regulated settings.
It is often assumed that high-income countries with solid regulatory systems can effectively exclude substandard and falsified medical products from their markets. However, the World Health Organization (WHO) analysis shows that this is not necessarily the case, as reports on these products have been submitted by countries in Western Europe and North America as well as other high-income settings. For example, a recent UK survey, carried out by Sapio Research and commissioned by a private company INCOPRO, concludes that almost one-third (32%) of those who have bought one or more counterfeit medicines have suffered a health issue as a result (INCOPRO, 2020). Numerous other documented cases in which patients have died or suffered harm due to an online purchase. As just one example, in 2013, people died after taking a counterfeit diet pill bought through an online drug seller. The pill, sold as a weight loss aid through many illicit online pharmacies, was actually a pesticide with lethal consequences for humans.
The report segments global medical packaging market as follows:
- Blister Packets
- Non-Woven Fabric
- Paper & Paperboard
- Medical Devices
- Pharmaceutical and Biotechnology
- Medical Equipment & Tools
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South and Central America (SCAM)
- Rest of South and Central America
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