The employment of packaging and labeling services is high particularly within the healthcare sector. Packaging technology is utilized for protecting or enclosing products to be distributed, stored, or consumed. The packaging process comprises the sterilization, filling, and assembling of the final goods and is followed by the labelling of the same. Labelling refers to any electronic, graphic or written communication on the package and is utilized to provide an identity to that particular package. The global packaging and labeling services market is growing due to the utilization of these services in a number of sectors.
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Growing Demand for Medical Devices to Boost Packaging and Labeling Services Market in Healthcare
The soaring count of chronic diseases, the need for their treatment and diagnosis, the increasing aging population, and the growing healthcare expenditures have raised the demand for medical devices and pharmaceuticals. This will boost the growth of the market for packaging and labeling services as more medical devices and pharmaceuticals are being shipped worldwide.
In addition, anti-counterfeiting drug packaging technology products have been gaining demand, thus impacting the market positively. The strict standards and regulations implemented by governments on labeling and packaging globally will further augment the development of the market for packaging and labeling services in healthcare.
Primary Packaging Segment Led Market in 2014
The major types of packaging are primary and secondary packaging. Primary packaging is further categorized into bottles, blisters, tubes, pouches, and others. On the other hand, secondary packaging is further segmented into cartoning and labeling. Both primary and secondary packaging materials are selected carefully on the basis of factors such as compatibility with the filling method, product or content, cost, and the degree of needed protection.
Amongst these, in 2014, the primary packaging segment led the market for packaging and labeling and is predicted to maintain its superiority in the coming years. Within this segment, the segment of bottle packaging held the majority share in the same year.
Solid Dosage Forms Emerged as Largest Product Segment in 2014
On the basis of product, the market is segmented into solid dosage forms, liquid dosage forms, semi-solid dosage forms, and medical devices. Solid dosage forms are further segmented into capsules, tablets, powder, and granules. On the other hand, semi-solid dosage forms are further categorized into ointments, creams, and suppositories. Liquid dosage forms are further segmented into eye or ear drops, syrups, and aerosols. Of these, solid dosage forms accounted for the largest share of more than one-fourth in the market in 2014. Within this segment, the segment of tablet packaging led the market in the same year on the basis of revenue.
Europe Packaging and Labeling Services Market Dominated in 2014
Geographically, the global packaging and labeling (healthcare) services market is segmented into Europe, North America, Latin America, Asia Pacific, and Rest of the World (RoW). Amongst these, the Europe packaging and labeling services market constituted the largest share in 2014 and was trailed by Latin America, North America, and Asia Pacific.
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The reason for the dominance of Europe is the rising count of technological developments within the machines utilized for labeling and packaging. On the other hand, Asia Pacific is poised to be the most swiftly growing market for packaging and labeling services in the coming years.
The major players dominant in the market are Amcor Limited, Gerresheimer AG, Schott AG, WestRock Company, and Sonoco Products Company, among others.