Asia Pacific Medical Packaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material, Type, and Application

The Asia Pacific medical packaging market is expected to grow from US$ 42,362.63 million in 2021 to US$ 68,840.93 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028.

Asia Pacific medical packaging market is divided on the basis of the five countries China, Japan, Australia, India, South Korea, and rest of Asia Pacific.Factors driving the medical packaging market are growing pharmaceutical and medical device industry in the region is expected to increase adoption of medical packaging.

In addition, expansion and stricter regulations for medical products industry in the region. is expected to drive the demand for medical packaging in the region. The projected growth of the medical packaging market in the US is attributed to the increasing pharmaceutical product manufacturing, rising adoption of advance medical packing technologies by the medical device manufactures is anticipated to fuel growth of the market during the forecast period. China pharmaceutical market offers huge opportunities as more and more people gain access to medicine, not only Traditional Chinese Medicine (TCM), but also more and more Western medicine, which is produced in huge volumes. That’s why China has become the most important as well as the biggest market for the use of high-speed blister packaging machines. Strict regulations and demand from manufacturers and consumers alike have led to growth in the usage of blister packages in Japan. Manufacturers are looking to earn tax incentives by manufacturing products under these regulatory standards. Promotion of growth in over-the-counter drugs has also provided impetus to the market. Also, India serves several growth opportunities for the medical packaging market during the forecast period. The rising geriatric population, increasing chronic prevalence and growing pharmaceutical and medical device industry prime factors expected to drive the market in the forecast period.

In case of COVID-19, in Asia Pacific, especially India, 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 Asia Pacific countries, i.e., Japan, China and Australia. 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.

Based on material, the market is segmented into polymer, foam, molded-fiber, non-woven fabric, films, paper & paperboard, and others.The paper & paperboard segment is expected to grow at the fastest CAGR during the forecasted period.

Product safe is among the primary objectives of the secondary packing material.The paper and paper board is used to make the cartons and shipping box.

As per the American Forest & Paper Association, the paperboard is a compact, paper-based material used for packaging.Owing to the different characteristics of papers, it is suitable for various requirements and needs packing materials.

Paperboard is used to fold into cartons for delicate items such as cosmetics, tablet strips, bulb packing, and other healthcare-related products. The segment is expected to contribute to the leading share in the Asia Pacific markets in the forecast period.

The overall Asia Pacific medical packaging market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the Asia Pacific medical packaging market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia Pacific medical packaging market. A few of the key companies operating in the market are 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.