PUBLISHER: The Business Research Company | PRODUCT CODE: 1619826
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619826
Plastic healthcare packaging involves using plastic materials to package medical and healthcare products, playing a vital role in protecting, preserving, and ensuring the safety of items like medications, medical devices, surgical instruments, and diagnostic equipment.
The main types of plastic healthcare packaging include bottle packaging, blister packaging, syringe packaging, vial packaging, device packaging, and others. Bottle packaging utilizes plastic bottles to store and dispense various healthcare products, such as medications and supplements. The materials used include polyethylene, polyvinyl chloride, polystyrene, polypropylene, polyethylene terephthalate, and others. These bottles accommodate different drug delivery methods, including pulmonary, oral, transdermal, injectable, nasal, topical, and ocular. They serve various end-users, including pharmaceutical companies, medical device manufacturers, and others.
The plastic healthcare packaging market research report is one of a series of new reports from The Business Research Company that provides plastic healthcare packaging market statistics, including plastic healthcare packaging industry global market size, regional shares, competitors with a plastic healthcare packaging market share, detailed plastic healthcare packaging market segments, market trends, and opportunities, and any further data you may need to thrive in the plastic healthcare packaging industry. This plastic healthcare packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The plastic healthcare packaging market size has grown strongly in recent years. It will grow from $29.91 billion in 2023 to $32.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth during the historic period can be attributed to the rising incidence of respiratory diseases, the increasing use of plastic packaging in the healthcare industry, a surge in chronic diseases, higher investments in healthcare infrastructure, and a growing geriatric population.
The plastic healthcare packaging market size is expected to see strong growth in the next few years. It will grow to $44.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth during the forecast period can be attributed to the increasing demand for pharmaceuticals and medical devices, heightened consumer awareness about plastic packaging, regulatory compliance and sustainability initiatives, and a growing preference for lightweight packaging products. Key trends include innovative packaging designs, advanced smart packaging technologies, development of eco-friendly packaging materials, improvements in plastic packaging technology, and overall innovations in the healthcare industry.
The growth of the pharmaceutical industry is expected to drive the expansion of the plastic healthcare packaging market. This sector, focused on the research, development, manufacturing, and marketing of medications and drugs, is expanding due to factors such as an aging population, increased life expectancy, and advances in medical science. Plastic healthcare packaging plays a crucial role in this industry by ensuring the safety and integrity of products, improving patient convenience, reducing costs, and facilitating innovative drug delivery and administration. Its versatility, durability, and adherence to regulatory standards make it a vital component of the pharmaceutical supply chain. For example, a June 2023 report by the European Federation of Pharmaceutical Industries and Associations (EFPIA) revealed that European pharmaceutical production totaled $384.2 billion (€340 billion) in 2022, reflecting a 4.95% increase from $366.3 billion (€324 billion) in 2021. Hence, the growth of the pharmaceutical industry is propelling the plastic healthcare packaging market.
Companies in the plastic healthcare packaging market are increasingly focusing on sustainable packaging solutions to mitigate environmental impact and enhance recyclability. Innovations in sustainable packaging aim to balance effective product protection with environmental responsibility, benefiting both public health and the planet. For instance, in September 2022, Bayer, a Germany-based healthcare company, launched the Sustainable Packaging Innovation Challenge 49291, calling for ideas on sustainable flexible and rigid packaging materials. This initiative seeks to develop environmentally friendly packaging solutions suitable for the healthcare sector and invites contributions from innovators, startups, entrepreneurs, and researchers, including those working on biodegradable or compostable materials.
In August 2023, Amcor, a Switzerland-based packaging solutions company, acquired Phoenix Flexibles for an undisclosed amount. This acquisition highlights Amcor's strategy to bolster its presence in the Indian market and enhance its product offerings, particularly in the realm of sustainable packaging solutions, which are increasingly sought after in various industries. Phoenix Flexibles, an India-based, specializes in flexible packaging solutions, including plastic healthcare packaging.
Major companies operating in the plastic healthcare packaging market are McKesson Corporation, Amcor Limited, Berry Global Group Inc., Mondi Group PLC, Sealed Air Corporation, Catalent Inc., Nipro Corporation, Aptar Group Inc., West Pharmaceutical Services, Tekni-Plex Inc., Gerresheimer AG, Constantia Flexibles Group, Klockner Pentaplast Group, Wipak Ltd., Comar LLC, Aphena Pharma Solutions Inc., Bilcare Limited, Adelphi Healthcare Packaging, Clondalkin Group, Alexander (James) Corporation
North America was the largest region in the plastic healthcare packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plastic healthcare packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the plastic healthcare packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The plastic healthcare packaging market consists of sales of child-resistant packaging, tamper-evident packaging, and smart packaging. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Plastic Healthcare Packaging Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on plastic healthcare packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for plastic healthcare packaging ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The plastic healthcare packaging market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.