Flexible Packaging for Healthcare Industry - Regional Synopsis
APAC Market Statistics
The Asia Pacific flexible packaging for healthcare market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the rising health expenditure per capita resulting in the escalated spending capacity and the growing population along with disposable income in the region. For instance, the total health expenditure per capita (in USD) reached approximately 500 in China, 60,00 in India, 100 in Indonesia, 4,000 in Japan, and others in 2019. Hence, such factors are estimated to hike the growth of the market during the forecast period. Furthermore, the surge in the cases of cardiovascular and chronic disease boosting the production and consumption volume of medicine is also expected to expand the market size over the forecast period. In Asia Pacific, nearly 40 million people are projected to be diagnosed with diabetes in China, approximately 80 million in India, and around 9 million in Japan by 2030. Hence, such factors are anticipated to hike the market growth over the forecast period.
North American Market Forecast
The North America flexible packaging for healthcare market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the increasing demand for flexible plastic packaging in the region in the healthcare sector since the production of medicine is increasing owing to the higher consumption of medicine. For instance, it was estimated, the total spending on medicine reached approximately USD 600 billion by 2025 while around USD 550 billion were spent by Americans on medicines in 2021. Additionally, a higher prevalence of chronic diseases such as, cancer, diabetes, and others spurring the production of medicines and other health care equipment coupled with a growing geriatric population with the need for proper routine check-ups and various chronic and acute diseases in the region is also projected to hike the market growth over the forecast period.
