Technology forms a crucial part of growth in healthcare packaging market. This is because innovation fuels demand for it. And, as innovation makes in-roads in the healthcare industry, demand for more innovative packaging will be witnessed.
It is pertinent to note here that with growth and rapid adoption of e-commerce platforms, demand for healthcare packaging is witnessing an upward growth curve. A number of end-use industries are focusing on these to tap into emerging growth opportunities. This is also therefore attracting substantial investments.
Transparency Market Research states that the global healthcare packaging market is anticipated to grow at a respectable pace over the period 2019 to 2027, bringing to fore profitable avenues for market players. This will also help the global healthcare packaging market to reach a higher valuation. Over the forecast period, the market would increase by a factor of 1.5X.
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It states that players would do well to focus on contract manufacturing, particularly in the Asia Pacific (APAC) region. Top players would be directing efforts towards paper and paperboard material for sustainability reasons. Additionally, it is worth noting here that since counterfeit packaging is a major restraint, a sharp focus would also be on finding anti-counterfeit packaging solutions.
The global healthcare packaging market is marked by presence of a decent number of players who are quite proactive in terms of innovation and marketing. Some of the top players present in the market landscape are 3M Company Amcor Limited, Avery Dennison Corporation, Ball Corporation, Bemis Company, Inc., Berry Global, Inc., BillerudKorsnäs AB, CCL Industries Inc., Constantia Flexibles Group GmbH, DS Smith Plc, Dunmore Corporation, Honeywell International, Huhtamäki Oyj, Klöckner Pentaplast Europe GmbH & Co. KG, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Toray Plastics (America). Inc., WestRock Company, Winpak Ltd. Research and development and key alliances form significant growth strategies.