Secondary Packaging for Oncology Products Market - Forecast(2022 - 2027)

Report Code: CMR 1295 Report Format: PDF + Excel

Secondary Packaging for Oncology Products Market Overview

The Secondary Packaging for Oncology Products Market size is forecast to reach US$17.9 billion by 2027, after growing at a CAGR of 10.2% during the forecast period (2022-2027). Secondary packaging can be categorized into multiple types which include shrink wraps, blister card packaging, cardboard cartons, shrink band, injection trays, shipping containers, over-wraps, bags, kitting, and more. According to a recent insight from the American Cancer Society in 2019, around 800 to 900 new cases of osteosarcoma, a type of cancer that affects the bone, are detected in the United States every year, with half of these occurring mostly in teenagers and children. An increase in the prevalence of cancer along with an increase in R&D activities related to cancer therapy acts as the major driver for the market. On the other hand, high costs associated with it is most likely to confine the market and hinder its growth.

COVID-19 Impact

There is no doubt that the COVID-19 lockdown has significantly reduced manufacturing, and production activities as a result of country-wise shutdown of manufacturing sites, shortage of labor, and the decline of supply and demand chain all over the world, thus, affecting the market. Studies show that the outbreak of COVID-19 sharply declined the production of raw materials in 2020 due to a lack of operations across multiple countries around the world. According to a recent article published in Cancer Connect 2020, Dana Farber Cancer Institute stated a 46% decrease in the diagnoses of the six most common cancer types which included colorectal, breast, lung, gastric, pancreatic, and esophageal cancers during the COVID-19 pandemic. Moreover, the Centers for Disease Control and Prevention (CDC), and several other medical organizations recommended the postponement of cancer screening and other health prevention services, along with elective surgeries, in order to secure the hospital facilities for the treatment of COVID-19 patients. This, in turn, decreased the demand for secondary packaging such as cardboard cartons, shrink band, blister card packaging, shipping containers, over-wraps, and bags for the distribution of oncology products, thus, affecting the market in 2020. However, a slow and steady recovery of the market is expected in the upcoming years.

Report Coverage

The report: “Secondary Packaging for Oncology Products Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Secondary Packaging for Oncology Products Industry.

By Product Type: Cardboard Cartons, Injection Trays, Shrink Wraps, Over-wraps, Bags, Blister Card Packaging, Shrink Band, Kitting, Others.
By Material Type: Plastic, Paper, and Paper Board, Others.
By Geography: North America (USA, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and the Rest of Asia-Pacific), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America), the Rest of the World (the Middle East, and Africa).

Key Takeaways

  • Cardboard Cartons in Secondary Packaging for Oncology Products Market is expected to see the fastest growth, especially during the forecast period. Its wide range of characteristics and advantages made it stand out in comparison to other types of secondary packaging products in the market.
  • Paper and Paper Board material type in Secondary Packaging for Oncology Products Market is expected to see the fastest growth, especially during the forecast period, owing to its wide range of benefits such as low cost, wide availability, excellent printability, and more that makes it ideal for secondary packaging.
  • North America dominated the Secondary Packaging for Oncology Products Market in 2021, owing to its increasing demand from the medical sector of the region. For instance, in January 2020, the American Cancer Society and Pfizer approved investments of more than US$ 2.5 million in nine communities with the aim of optimizing outcomes for women facing a breast cancer diagnosis. Such investments in order to treat the existing prevalence of cancer are expected to increase the demand for secondary packaging for the distribution of oncology products in the region.

Figure: North America Secondary Packaging for Oncology Products Market Revenue, 2021-2027 (US$ Billion)

Secondary Packaging for Oncology Products Market Revenue

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Secondary Packaging for Oncology Products Market Segment Analysis – By Product Type

Cardboard Cartons type held a significant share in the Secondary Packaging for Oncology Products Market in 2021, owing to its increasing demand for secondary packaging of oncology products due to the properties they hold. Cardboard cartons are highly flexible, adaptable, and can be easily cut to any shape or size as per the requirements in comparison to other secondary packaging types. Cardboard cartons can store a wide variety of oncology products from oncology drugs to medicines, and even cancer screening equipment and machines. Moreover, cardboard cartons are designed with high quality and sturdy materials, which makes them capable to withstand any form of abrasion or pressure. Thus it provides better protection of the oncology products and ensures convenient and safe delivery of oncology products from one destination to another. Moreover, they are lightweight, cost-effective, and readily available in comparison to other types of secondary packaging. Hence, all of these properties are driving its demand over other types of secondary packaging for oncology products, thus, boosting the market growth during the forecast period.

Secondary Packaging for Oncology Products Market Segment Analysis – By Material Type

The Paper and Paper Board material type held the largest share in the Secondary Packaging for Oncology Products Market in 2021 and is expected to grow at a CAGR of 10.4% between 2022 and 2027, owing to its increasing demand for packaging of oncology products. Paper and paper board packaging is made from a natural renewable resource, are biodegradable and easily recyclable in nature, and are quite versatile in terms of capabilities, design, and printing quality in comparison to plastics, and other secondary packaging material types. Paper packaging depicts a conscious, positive, and caring brand representation to the end-users which helps improve the overall brand image, and is more cost-effective in comparison to plastic materials. Hence, low cost, wide availability, excellent printability, and sustainability of paper & paperboard make it ideal for use in secondary packaging of oncology products, thus, driving the market growth in the upcoming years.

Secondary Packaging for Oncology Products Market Segment Analysis – By Geography

North America held the largest share in the Secondary Packaging for Oncology Products Market in 2021 up to 35%. The consumption of secondary packaging for oncology products is particularly high in this region due to its increasing demand from the medical sector of the region. For instance, according to the GLOBOCAN (Global Cancer Observatory) 2020 report, around 281,658 new cancer cases were diagnosed in the United States in 2020, with a 5-year prevalence of about 8,432,938 in the same year. It further states that the most common cancers in the United States were reported to be breast (around 253,465 cases), lung (around 227,875 cases), prostate (around 209,512 cases), and colon (around 101,809 cases) cancers.

Moreover, in January 2020, the American Cancer Society and Pfizer approved investments of more than US$ 2.5 million in nine communities with the aim of optimizing outcomes for women facing a breast cancer diagnosis. Thus, with these factors, the market is expected to flourish in the region.

In this way, an increase in the prevalence of cancer will also increase the demand for oncology products such as oncology drugs, medications, cancer screening equipment, and machines for the treatment of cancer patients in various medical facilities. This, in turn, will increase the demand for secondary packaging of these oncology products for safe and convenient distribution of these products from one destination to another, thus, boosting the market growth in the upcoming years.

Secondary Packaging for Oncology Products Market Drivers

An increase in the prevalence of cancer is most likely to increase demand for the product

According to the GLOBOCAN (Global Cancer Observatory) 2020 fact sheet, around 19,292,789 new cancer cases were diagnosed worldwide, with deaths reaching up to 9,958,133 globally due to cancer. Moreover, a recent study from the International Agency for Research on Cancer states that the global weight of cancer cases is expected to increase up to 27.5 million new cancer cases along with 16.3 million deaths worldwide by 2040. The increasing rate of cancer cases is expected to increase the demand for oncology products such as oncology drugs, medications, cancer screening equipment, and machines for the treatment of cancer patients in various medical facilities. This, in turn, is expected to increase the demand for secondary packaging of these oncology products in order to distribute these products among various medical facilities, thus, driving the market growth during the forecast period.

An increase in R&D activities associated with cancer therapy is most likely to increase demand for the product

Secondary packaging is mainly used for protecting the oncology products and ensuring safe transportation of primary packed oncology products along with holding the primary packaging intact. A high concentration of medical facilities all around the world is making investments in research and development activities associated with cancer therapy. For instance, National Cancer Institute (NCI) is running several clinical trial programs and initiatives in order to support clinical research of various forms of cancer. In 2021, Consolidated Appropriations Act and the 21st Century Cures Act allotted US$ 6.56 billion to the National Cancer Institute (NCI), an increase of US$ 119 million in comparison to the funding allotted in 2020 for the research purpose. In November 2020, Merck & Co. Inc., an American multinational pharmaceutical company, made an agreement in order to acquire Velosbio Inc., a privately-held clinical-stage biopharmaceutical company. The company is dedicated to developing first-in-class cancer therapies that target receptor tyrosine kinase-like orphan receptor 1 (ROR1).

In this way, an increase in R&D activities associated with cancer therapy will also increase the demand for use of oncology products such as oncology drugs, medications, cancer screening equipment, and machines. This will increase the demand for secondary packaging of these oncology products for safe and convenient distribution of these products from one destination to another, thus, driving the market growth during the forecast period.

Secondary Packaging for Oncology Products Market Challenges

High costs associated with paper packaging can cause an obstruction to the market growth

The rise in costs of raw materials such as pulp has made it difficult to access paper for various packaging purposes. According to the U.S Bureau of Labor Statistics, the PPI and pulp cost, and raw materials for corrugated boxes in 2021 have increased by more than 25% in the past 12 months. Another major factor that is causing the increase in packaging costs is transportation. Prices of crude oil have increased up to 40% since the beginning of the year 2021, and its prices are expected to increase up to US$ 80 per barrel in the upcoming years. This, in turn, has increased the overall costs of transporting the raw materials required for the production of paper packaging, thus, leading to increased packaging costs. Hence, high costs associated with paper packaging may confine the market growth.

Secondary Packaging for Oncology Products Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in this market. Secondary Packaging for Oncology Products top 10 companies include:

  1. Amcor plc
  2. AptarGroup, Inc.
  3. Drug Plastics Group
  4. Gerresheimer AG
  5. Schott AG
  6. Owens Illinois, Inc.
  7. West Pharmaceutical Services, Inc.
  8. Berry Global, Inc.
  9. WestRock Company
  10. SGD Pharma

Recent Developments

  • In January 2021, PCI Pharma announced the expansion of its new biotech packaging center in Philadelphia, along with new investments dedicated to expanding its biotech packaging capabilities in Ireland.

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1. Secondary Packaging for Oncology Products Market- Market Overview
    1.1 Definitions and Scope
2. Secondary Packaging for Oncology Products Market - Executive Summary
    2.1 Key Trends by Product Type
    2.2 Key Trends by Material Type
    2.3 Key Trends by Geography
3. Secondary Packaging for Oncology Products Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Secondary Packaging for Oncology Products Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis: 
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Secondary Packaging for Oncology Products Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Secondary Packaging for Oncology Products Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Secondary Packaging for Oncology Products Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Secondary Packaging for Oncology Products Market – By Product Type (Market Size - US$ Million/Billion)
    8.1 Cardboard Cartons
    8.2 Injection Trays
    8.3 Shrink Wraps
    8.4 Over-wraps
    8.5 Bags
    8.6 Blister Card Packaging
    8.7 Shrink Band
    8.8 Kitting
    8.9  Others
9. Secondary Packaging for Oncology Products Market - By Material Type (Market Size - US$ Million/Billion)
    9.1  Plastic
    9.2 Paper and Paper Board
    9.3 Others
10. Secondary Packaging for Oncology Products Market - By Geography (Market Size - US$ Million/Billion)
    10.1 North America
        10.1.1 USA
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 UK
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Netherlands
        10.2.6 Spain
        10.2.7 Russia
        10.2.8 Belgium 
        10.2.9 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 India
        10.3.4 South Korea
        10.3.5 Australia and New Zealand
        10.3.6 Indonesia
        10.3.7 Taiwan
        10.3.8 Malaysia
        10.3.9 Rest of APAC
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Colombia
        10.4.4 Chile
        10.4.5 Rest of South America
    10.5 Rest of the World
        10.5.1 Middle East
        10.5.2 Africa
11. Secondary Packaging for Oncology Products Market – Entropy
    11.1 New Product Launches
    11.2 M&As, Collaborations, JVs, and Partnerships
12. Secondary Packaging for Oncology Products Market – Industry/Segment Competition Landscape Premium
    12.1 Company Benchmarking Matrix – Major Companies
    12.2 Market Share by Key Geography - Major companies
    12.3 Market Share at Country Level - Major companies
    12.4 Market Share by Key Product Type/Product category - Major companies
13. Secondary Packaging for Oncology Products Market – Key Company List by Country Premium Premium
14. Secondary Packaging for Oncology Products Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10 and more
"*Financials would be provided on a best-efforts basis for private companies"