Description
Plastics for Healthcare Packaging Market
Global Plastics for Healthcare Packaging Market to surpass USD 39.2 billion by 2030 from USD 19.1 billion in 2020 at a CAGR of 5.4% in the coming years, i.e., 2021-30.
Product Overview
Plastic healthcare packaging is a method of storing and transporting medications, medical devices, tools, and other pharmaceuticals. It is done to keep healthcare items safe against biological contamination, material damage, and unfavorable external influences. Plastic packaging for sterile products is made from high-density polystyrene, polyethylene, polyvinyl chloride, or polypropylene, which is further impermeabilized by gas. Several codes, such as the quality management standard (ISO9000) and the pharmaceutical packaging materials standard, are used to ensure the quality of the packaging material (PSO9000). Furthermore, it is classified into three types based on the materials used: main packaging, secondary packaging, and tertiary packaging. Caps, labels, bottles, cap liners, vials, ampoules, blisters, tubes, syringes, and inhalers are examples of primary packaging. Corrugated shippers, cartons, and pallets are all part of the secondary packing system. Cardboard containers, wood pallets, and shrink wrap are examples of tertiary packing.
Market Highlights
Global Plastics for Healthcare Packaging market is expected to project a notable CAGR of 5.4% in 2030.
The increasing availability of high-quality plastic packaging for healthcare products should help the business to grow. The plastic healthcare packaging industry’s players are continually increasing their R&D efforts in order to encourage advancements in packaging material. Key players’ newly released packing solutions are extremely robust and have commendable physical features that make sterilization and autoclaving a breeze. As a result, having such plastic packaging items available will help the sector flourish.
Global Plastics for Healthcare Packaging Market: Segments
Bottle packaging segment to grow with the highest CAGR during 2020-30
Global Plastics for Healthcare Packaging market is segmented by type into Bottle packaging, Blister packaging, Syringes packaging, Vial packaging, Device packaging, and Others. Bottle packaging segment held the largest market share in the year 2020. The growing preference for high-quality bottle packaging can be attributable to significant category expansion. The demand for bottle packing has grown as a result of an increase in the number of illnesses caused by patients receiving intravenous medication through bottles with leaks and other problems. Furthermore, newly developed packaging materials are more durable, which will raise demand and boost segmental growth.
Pharmaceutical companies segment to grow with the highest CAGR during 2020-30
Global Plastics for Healthcare Packaging market is divided by end-user into pharmaceutical companies, medical device manufacturing companies, and Others. Over the forecast period, the Pharmaceutical companies segment is projected to expand at the fastest pace Plastic wrapping is used by pharmaceutical companies because it protects the medicine from damage. Furthermore, the prescription drugs are protected from moisture by strong packaging. As a result, the advantages of plastic packaging materials will promote their usage in pharmaceutical industries, boosting segmental growth.
Market Dynamics
Drivers
Increased demand from end-users and features such as durability and lightweight
The plastic healthcare packaging market is expected to grow significantly over the forecast period, owing to factors such as an increase in demand for plastic packaging in the healthcare and pharmaceutical industries, the expansion of the healthcare market, and consumer preference for lightweight, sturdy, and visually appealing packaging. Furthermore, the rise in chronic diseases and public awareness of the benefits of packaged healthcare are expected to enhance market demand in the future. The market for plastic healthcare packaging will benefit from new drug launches and pipeline packaging options.
Increased investment in research and development and regulatory environment
The improvement of the regulatory environment for healthcare plastic packaging in both developed and emerging countries will have a beneficial impact on the industry’s growth. Regulatory agencies such as the US Food and Drug Administration and the European Commission actively enforce legislation that assists businesses in maintaining packaging material quality. As a result of these laws and regulations, the quality and standard of plastic packaging material on the market is ensured, resulting in increased industry growth.
Restraint
Stringent government regulations and growing environmental awareness
The key factor acting as a restraint is the high concern of environment and energy, also stringent regulatory standards on the use of plastics are likely to stifle the expansion of the plastic healthcare packaging market.
Global Plastics for Healthcare Packaging Market: Key Players
3M
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
DS Smith Plc
Huhtamäki Oyj
Berry Global, Inc.
Sonoco Products Company
Sealed Air Corporation
Constantia Flexibles Group GmbH
Winpak Ltd.
CCL Industries Inc.
Other Prominent Players
Global Plastics for Healthcare Packaging Market: Regions
Global Plastics for Healthcare Packaging market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market in APAC is expected to hold highest CAGR over the forecasted period. Due to favorable demographic trends, the Asia Pacific healthcare packaging market is expected to rise significantly over the forecast period. The frequency of hospital admissions rises correspondingly as the elderly population becomes older and suffers from chronic diseases. This aspect has a long-term and significant beneficial impact on market growth since it increases demand for medications packaged in high-quality plastic. The expansion of the regional market will be aided by the aforementioned aspect, as well as an increase in the number of enterprises producing pharmaceutical products.
Global Plastics for Healthcare Packaging is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Plastics for Healthcare Packaging Market report also contains analysis on:
Plastics for Healthcare Packaging Segments:
By Type
Bottle packaging
Blister packaging
Syringes packaging
Vial packaging
Device packaging
Others
By End-user
Pharmaceutical companies
Medical device manufacturing companies
Others
Plastics for Healthcare Packaging Dynamics
Plastics for Healthcare Packaging Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Plastics for Healthcare Packaging Market
Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD 19.1 billion
Revenue forecast in 2030 USD 39.2 billion
Growth Rate CAGR of 5.4% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, end-user and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled 3M, DS Smith Plc, Huhtamäki Oyj, Berry Global, Inc., Sonoco Products Company, Sealed Air Corporation, Constantia Flexibles Group GmbH, Winpak Ltd., and Other Prominent Players
