Prescription Pharmacy Bags Market Forecast and CAGR
The global sales/shipment of prescription pharmacy bags are expected to grow at 6.0% CAGR in 2021-2031. Increasing incidents of chronic illnesses associated with a sedentary lifestyle and the growing healthcare and pharmaceutical sector will be significant drivers for the prescription pharmacy bags market.
The Privacy offered by Prescription Pharmacy Bags will be Crucial in Driving Demand
Prescription pharmacy bags are widely used by pharmacies, hospitals, veterinary clinics, and dispensaries primarily to safeguard patients’ medical information. Most people prefer to keep their conditions private, as a variety of ailments may be considered distressing. The need to maintain confidentiality will drive the sales of prescription pharmacy bags.
Further, prescription pharmacy bags lend a sense of professionalism to pharmacies and healthcare facilities. While generic prescription pharmacy bags are the norm, businesses can personalize their bags with their logos as a way of reinforcing their brand and as a marketing tool. The aforementioned reasons are expected to drive the demand for customized prescription pharmacy bags.
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Community Pharmacies to Push Demand for Prescription Pharmacy Bags
Community pharmacies are vital because it provide patients with a direct point of contact, putting them on the front lines of public health. Following the Covid-19 outbreak, pharmacists faced a slew of issues, including operating with restricted resources and labour.
As countries re-open, community pharmacies will witness an increase in sales, which is anticipated to drive the demand for prescription pharmacy bags as it is convenient and sustainable.
The US and Canada Demand Outlook for Prescription Pharmacy Bags Market
The US and Canada market for prescription pharmacy bags is estimated to witness steady growth owing to manufacturers investing in innovations and sustainable technology in the region.
Many manufacturers are switching to recycling prescription pharmacy bags. Across the United States, Albertsons Companies pharmacies, a leading pharmaceutical brand, are switching from conventional white prescription bags to a new recyclable brown bag by partnering with Novolex.
A large percentage of people in North America use prescription medications, and the average pharmacy in the region fills roughly 700 prescriptions every week. The use of prescription pharmacy bags will increase the visibility and legitimacy of these pharmacies among their clients, fuelling demand.
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Europe Prescription Pharmacy Bags Market outlook
Ongoing research and development in recycled paper-based packaging are expected to drive market growth since they provide a low-cost raw material that can be used to reduce plastic pollution.
Customers criticized Boots, the UK's top pharmaceutical and beauty products retailer, for utilizing plastic prescription bags. With increased consumer understanding about what plastic may do to the environment, European prescription pharmacy bags are anticipated to foresee substantial growth in the paper bag segment.
Prescription Pharmacy Bags: Key players
Some key players in the prescription pharmacy bags market includes
- Big Valley Packaging
- Gilchrist Bag Manufacturing LLC
- Valley Northern Ltd.
- Origin Pharma Packaging
- Cardinal Bag Company Inc.
- Integral Rx (J M Smith Corporation)
- Broadway Industries
- IMS Euro Ltd
- Wisconsin Converting Inc.
- Alpha pack
- Greentech Packaging Inc.
An Adaptive Approach to Modern-day Research Needs
Prescription Pharmacy Bags Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Prescription Pharmacy Bags: Market Segmentation
Based on Type, the global prescription pharmacy bags market is segmented as:
- Flat bag
- Square-bottomed Bag
- Gusseted Bag
Based on Material, the global prescription pharmacy bags market is segmented as:
Based on End-use Applications, the global prescription pharmacy bags market is segmented as:
- Pharmacies and Dispensaries
- Dental/Eye-care/Dermatology clinics
- Veterinary clinics
- Hospitals Gift shops
Based on Region, the global prescription pharmacy bags market is segmented as:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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