Transparency Market Research has published a new market report titled, “Packaging and Labeling (Healthcare) Services Market – (Packaging Type – Primary Packaging (Blisters, Bottles, Pouches, Tubes, and Others) and Secondary Packaging (Labeling and Cartoning)) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015–2023.” According to the report, the global packaging and labeling (healthcare) services market was valued at US$ 84.6 Bn in 2014 and is expected to expand at a CAGR of 5.3% from 2015 to 2023 to reach US$ 136.2 Bn in 2023.

The global packaging and labeling (healthcare) services market has been classified based on three categories: packaging type, packaged products, and geography (regions and countries). Major packaging segments include primary packaging and secondary packaging. Primary packaging products area blisters, bottles, pouches, tubes, and others. Major packaged products include solid dosage forms, semi-solid dosage forms, liquid dosage forms, and medical devices. The report has been compiled with the primary objective of updating the stakeholders with the incumbent market dynamics through a graphical illustration and in-depth analysis of each segment considered within the study scope.

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Geographically, the report has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World (RoW). These regions has been further segmented into major national markets such as in North America (U.S. and Canada), Europe (U.K., Germany, and Rest of Europe), Asia Pacific (China, Japan, and Rest of Asia Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of the World (RoW).

Europe accounted for the largest share of 33.2% of the global packaging and labeling (healthcare) services market in 2014, followed by North America, Asia Pacific, and Latin America. Largest share of Europe is attributed to technological advancements in packaging and labeling machines, well-established healthcare infrastructure, and presence of a large number of pharmaceutical and medical device manufacturing plants. However, Europe is expected to lose its dominance over the global market to Asia Pacific during the forecast period from 2015 to 2023. Key national markets such as Germany, the U.K., France, and Italy are likely to drive the packaging and labeling services market in Europe. Furthermore, other major countries such as Spain, the Netherlands, Switzerland, Denmark, Sweden, and Norway have excellent healthcare infrastructure, and are likely to present significant opportunities for growth in this market in the near future.

North America held the second largest share of the global packaging and labeling (healthcare) services market in terms of revenue in 2014. The U.S. was the largest market for packaging and labeling (healthcare) services in North America in 2014. The U.S. is a manufacturing base for various medical device and pharmaceutical companies. The pharmaceutical industry produces high volume of drugs in the region. This increases demand for packaging of these pharmaceutical drugs, which in turn is likely to contribute to the growth of the packaging and labeling (healthcare) services market in the U.S. The market in the U.S. is expected to expand at a higher CAGR than that in Canada during the forecast period from 2015 to 2023.

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The market in Asia Pacific is expected witness the fastest growth rate during the forecast period. This is due to increase in material specific requirements by regulatory authorities in few countries such as Japan and South Korea, increasing expenditure on healthcare in China and India, and growing investments by market players in the region. China and Japan are the major markets for packaging and labeling (healthcare) services in Asia Pacific. The growing market of generic pharmaceutical drugs in the rest of Asia Pacific will result in high growth of the region during the forecast period.

Brazil accounted for the largest share of the packaging and labeling (healthcare) services market in Latin America in 2014. The market in the country is expected to register high growth during the forecast period due to increasing investments in healthcare. Recent economic development and ongoing investments in healthcare infrastructure within the country would contribute largely to the growth of the market in the region.

Key players operating in the global packaging and labeling (healthcare) services market are 3M, Amcor Ltd., Bemis Company Inc., CCL Industries Inc., E.I. du Pont de Nemours and Company (DuPont), Gerresheimer AG, Owens Illinois, SCHOTT AG, Sonoco Products Company, and WestRock Company. The packaging and labeling (healthcare) services market is highly fragmented, with several large and small players operating in the international market.