North America Medical Packaging Market to Grow at a CAGR of 6.1% to reach US$ 51,905.62 Million from 2021 to 2028
The North America medical packaging market 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.
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 North America as well as other high-income settings. 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 threat that counterfeit medicines pose to the North America pharmaceutical sector is immense. The International Hologram Manufacturers Association (IHMA) is a good source of expertise in this field and highlights an industry report that indicates continued growth for anti-counterfeiting packaging technologies.
In case of COVID-19, in North America, especially the US, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of medical packaging manufacturing activities. Downfall of other healthcare products manufacturing sectors has negatively impacted the demand for medical packaging during the early months of 2020. Moreover, decline in the overall packaging materials manufacturing activities has led to discontinuation of medical packaging manufacturing projects, thereby reducing the demand for medical packaging. Similar trend was witnessed in other North America countries, i.e., Mexico, Canada, Panama and Costa Rica. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America medical packaging market. According to a new industry poll, consumer awareness of environmental issues and new material developments are the most critical drivers in the development of sustainable packaging. Pira Intl., a worldwide authority on the packaging supply chains, surveyed critical players across the North America packaging value chain. 79% of respondents rated "increased exposure of consumers to environmental issues" and "advances in materials technology" as either a growth driver or significant growth driver. The medical industry does not have the best track record when it comes to environmentalism. The US, Canadian, and English medical sectors collectively contribute 748 million metric tons of emissions every year. However, some healthcare companies are taking steps to reduce that. On top of cleaning up their operations, these companies are providing ways for consumers to go green. The makers of medical devices are leaning into sustainable accountability to help consumers become more environmentally conscious. 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.
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North America Medical Packaging Market Segmentation
North America Medical Packaging Market – By Material
- Polymer
- Foam
- Molded-Fiber
- Non-Woven Fabric
- Plastic
- Films
- Paper & Paperboard
- Others
North America Medical Packaging Market – By Type
- Containers
- Pouches
- Trays
- Blister Packets
- Vials
- Others
North America Medical Packaging Market – By Application
- Medical devices
- Pharmaceutical and Biotechnology
- Medical Equipment & Tools
- Others
North America Medical Packaging Market – By Country
- US
- Canada
- Mexico
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Medical Packaging Market – By Type
1.3.2 North America Medical Packaging Market – By Material
1.3.3 North America Medical Packaging Market – By Application
1.3.4 North America Medical Packaging Market – By Country
2. Medical Packaging Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Medical Packaging Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Expert Opinions
5. North America Medical Packaging Market – Key Market Dynamics
5.1 Drivers
5.1.1 Rise in Demand for Counterfeit Prevention Mechanisms
5.1.2 Increased Emphasis on Convenience and Environmental Issues
5.2 Market Restraints
5.2.1 Fluctuations in Prices of Raw Materials
5.3 Market Opportunities
5.3.1 Growth in Demand for Sustainable Packaging Solutions
5.4 Future Trends
5.4.1 Integration of Internet of Things
5.5 Impact Analysis
6. Medical Packaging Market – North America Analysis
6.1 North America Medical Packaging Market Revenue Forecast and Analysis
7. North America Medical Packaging Market Analysis – By Type
7.1 Overview
7.2 Medical Packaging Market Revenue Share, by Type (2021 and 2028)
7.3 Containers
7.3.1 Overview
7.3.2 Containers: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
7.4 Pouches
7.4.1 Overview
7.4.2 Pouches: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
7.5 Trays
7.5.1 Overview
7.5.2 Trays: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
7.6 Blister Packets
7.6.1 Overview
7.6.2 Blister Packets: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
7.7 Vials
7.7.1 Overview
7.7.2 Vials: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
8. North America Medical Packaging Market Analysis – By Material
8.1 Overview
8.2 Medical Packaging Market Revenue Share, by Material (2021 and 2028)
8.3 Polymer
8.3.1 Overview
8.3.2 Polymer: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
8.4 Foam
8.4.1 Overview
8.4.2 Foam: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
8.5 Molded -Fiber
8.5.1 Overview
8.5.2 Molded Fiber: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
8.6 Non-woven Fabric
8.6.1 Overview
8.6.2 Non-woven Fabric: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
8.7 Films
8.7.1 Overview
8.7.2 Films: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
8.8 Paper & Paperboard
8.8.1 Overview
8.8.2 Paper & Paperboard: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
8.9 Others
8.9.1 Overview
8.9.2 Others: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
9. North America Medical Packaging Market Analysis – By Application
9.1 Overview
9.2 Medical Packaging Market Revenue Share, by Application (2021 and 2028)
9.3 Medical devices
9.3.1 Overview
9.3.2 Medical Devices: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
9.4 Pharmaceutical and Biotechnology
9.4.1 Overview
9.4.2 Pharmaceutical and Biotechnology: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
9.5 Medical Equipment & Tools
9.5.1 Overview
9.5.2 Medical Equipment & Tools: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
10. North America Medical Packaging Market – Country Analysis
10.1 North America Medical Packaging Market, Revenue and Forecast to 2028
10.1.1 Overview
10.1.3 North America Medical Packaging Market, Revenue and Forecast to 2028, By Country (%)
10.1.4 US: Medical Packaging Market – Revenue and Forecast to 2028 (USD Million)
10.1.4.1 Overview
10.1.4.2 US Medical Packaging Market, Revenue and Forecast to 2028 (US$ Mn)
10.1.4.3 US Medical Packaging Market, Revenue and Forecast to 2028, By Type (US$ Mn)
10.1.4.4 US Medical Packaging Market, Revenue and Forecast to 2028, By Material (US$ Mn)
10.1.4.5 US Medical Packaging Market, Revenue and Forecast to 2028, By Application (US$ Mn)
10.1.5 Canada: Medical Packaging Market – Revenue and Forecast to 2028 (USD Million)
10.1.5.1 Overview
10.1.5.2 Canada Medical Packaging Market, Revenue and Forecast to 2028 (US$ Mn)
10.1.5.3 Canada Medical Packaging Market, Revenue and Forecast to 2028, By Type (US$ Mn)
10.1.5.4 Canada Medical Packaging Market, Revenue and Forecast to 2028, By Material (US$ Mn)
10.1.5.5 Canada Medical Packaging Market, Revenue and Forecast to 2028, By Application (US$ Mn)
10.1.6 Mexico: Medical Packaging Market – Revenue and Forecast to 2028 (USD Million)
10.1.6.1 Overview
10.1.6.2 Mexico Medical Packaging Market, Revenue and Forecast to 2028 (US$ Mn)
10.1.6.3 Mexico Medical Packaging Market, Revenue and Forecast to 2028, By Type (US$ Mn)
10.1.6.4 Mexico Medical Packaging Market, Revenue and Forecast to 2028, By Material (US$ Mn)
10.1.6.5 Mexico Medical Packaging Market, Revenue and Forecast to 2028, By Application (US$ Mn)
11. Impact of COVID-19 Pandemic on North America Medical Packaging Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Company Profiles
12.1 Amcor plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 DuPont de Nemours, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Mitsubishi Chemical Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 SGD Pharma
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 3M
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 West Pharmaceutical Services, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Avery Dennison Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Sonoco Products Company
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 CCL Industries Inc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 WestRock Company
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Medical Packaging Market –Revenue and Forecast to 2028 (US$ Mn)
Table 2. US Medical Packaging Market, Revenue and Forecast to 2028, By Type (US$ Mn)
Table 3. US Medical Packaging Market, Revenue and Forecast to 2028, By Material (US$ Mn)
Table 4. US Medical Packaging Market, Revenue and Forecast to 2028, By Application (US$ Mn)
Table 5. Canada Medical Packaging Market, Revenue and Forecast to 2028, By Type (US$ Mn)
Table 6. Canada Medical Packaging Market, Revenue and Forecast to 2028, By Material (US$ Mn)
Table 7. Canada Medical Packaging Market, Revenue and Forecast to 2028, By Application (US$ Mn)
Table 8. Mexico Medical Packaging Market, Revenue and Forecast to 2028, By Type (US$ Mn)
Table 9. Mexico Medical Packaging Market, Revenue and Forecast to 2028, By Material (US$ Mn)
Table 10. Mexico Medical Packaging Market, Revenue and Forecast to 2028, By Application (US$ Mn)
Table 11. Glossary of Terms, Medical Packaging Market
LIST OF FIGURES
Figure 1. Medical Packaging Market Segmentation
Figure 2. North America Medical Packaging Market Segmentation, By Country
Figure 3. Medical Packaging Market Overview
Figure 4. Containers Segment Held Largest Share of Medical Packaging Market
Figure 5. US to Show Significant Growth During Forecast Period
Figure 6. North America Medical Packaging Market, Industry Landscape
Figure 7. North America PEST Analysis
Figure 8. North America Medical Packaging Market – Revenue Forecast and Analysis – 2019- 2028
Figure 9. Medical Packaging Market Revenue Share, by Type (2021 and 2028)
Figure 10. Containers: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 11. Pouches: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 12. Trays: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 13. Blister Packets: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 14. Vials: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 15. Others: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 16. Medical Packaging Market Revenue Share, by Material (2021 and 2028)
Figure 17. Polymer: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 18. Foam: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 19. Molded-Fiber: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 20. Non-woven Fabric: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 21. Films: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 22. Paper & Paperboard: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 23. Others: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 24. Medical Packaging Market Revenue Share, by Application (2021 and 2028)
Figure 25. Medical Devices: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 26. Pharmaceutical and Biotechnology: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 27. Medical Equipment & Tools: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 28. Others: Medical Packaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 29. North America Medical Packaging Market Overview, By Country — 2021 (US$ Mn)
Figure 30. North America Medical Packaging Market, Revenue and Forecast to 2028, By Country (%)
Figure 31. US Medical Packaging Market, Revenue and Forecast to 2028 (US$ Mn)
Figure 32. Canada Medical Packaging Market, Revenue and Forecast to 2028 (US$ Mn)
Figure 33. Mexico Medical Packaging Market, Revenue and Forecast to 2028 (US$ Mn)
Figure 34. Impact of COVID-19 Pandemic in North American Country Markets
- 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.
- WestRock Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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