Plastic healthcare packaging market is witnessing a steady period of prosperity and innovation in recent times. Packaging is a backbone for manufacturing industries around the world. Additionally, it represents a special importance in healthcare as it can be life-saving for patients and creates robust new brands. Material wise, packaging solutions are divided into primary, secondary, and tertiary packaging solutions. Primary packaging includes labels, bottles, cap liner, cap and others such as ampoules, vials, tubes, blisters, inhalers, and syringes. Other than that, secondary packaging system consist of pallets, corrugated shippers, and cartoons.
As per Future Market Insights (FMI), the global market for plastic healthcare packaging is anticipated to rise at a CAGR of 5.1% between 2021 and 2031, surpassing a market valuation of US$ 37 Bn by the end of 2031.
The key function of healthcare packaging to protect medical devices and drugs from contamination and damage will drive demand for the foreseeable future. According to Future Market Insights, the market will rise at over 5% CAGR, reaching a valuation of over US$ 37.2 Bn in 2021.
These products are sterilized and have unique specifications, minimizing the risk of contaminants and unwanted reactions. Metal and glass packaging formats are commonly used materials for medical devices even as weight and breakage concerns hold back adoption.
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High quality plastic packaging material is gaining ground as it meets the stringent standards of the medical and healthcare packaging industry. Plastic materials such as polyvinyl chloride, polypropylene, and polyethylene terephthalate can help safeguard healthcare products.
Plastic packaging in the healthcare industry can be found in the form of blister packaging, bottles, containers, IV bags, medication tubes, prefilled inhalers, syringes, caps and closures and even medical devices such as incubators and surgical machines.
The proliferation of medical devices in hospitals and in home care settings is reducing the dependency on clinical support. Across the global market, consumption of plastic healthcare packaging is expected to remain high in European and North American countries, due to the presence of key players of the market and easier availability of technological advancements.
Countries in Asia Pacific are witnessing rapid developments in terms of pharmaceutical drug inventions which in turn is triggering the growth of the plastic healthcare packaging sector for the coming decade.
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The COVID 19 pandemic has spread across the globe and its impact on the healthcare sector has been significant, positively affecting industries that provide essential items. Demand for plastic packaging in healthcare will rise across different countries owing to consumer demand for dietary supplements, and essential medications, required to combat the spread of the virus.
The COVID-19 outbreak has also affected the prices of the raw materials such as the price of oil based raw materials. At the same time the lockdown hasn’t been favourable for overseas supply of raw materials or end products especially for manufacturers who majorly rely on the international supply chains.
Factors such as demand, supply, cost of production, and government actions to diminish the impact of pandemic have led to moderate growth of the plastic healthcare packaging market.
The tier 3 players in the plastic healthcare packaging market hold 70-80% of the global plastic healthcare packaging value share. Market leaders contribute almost 20-30% of the global demand. Market participants are largely focusing on capacity and product portfolio expansion strategies.
Wipak Ltd., Aptar Group, Inc., West Rock Company, West Pharmaceutical Services, Inc., Bilcare Limited, Gerresheimer AG, Constantia Flexibles Group and among others are the prominent players in the global plastic healthcare packaging market.
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More Valuable Insights on Market
FMI, in its new report, offers an unbiased analysis of the global plastic healthcare packaging market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in plastic healthcare packaging market with detailed segmentation:
By Product Type:
By Material Type:
Future Market Insights, in its new report, offers an unbiased analysis of the global plastic healthcare packaging market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031.
The study reveals growth projections on the plastic healthcare packaging market on the basis of product type into vials and ampoules, blisters, bottles, (dropper bottles, nasal spray bottles and liquid bottle), bags, pouches and sachets (IV bags, medical specialty bags), prefilled inhalers, syringes and cartridges, containers and jars, caps and closures, trays, and medication tubes), material type polyethylene (low density polyethylene, high density polyethylene, linear low density polyethylene), polyvinyl chloride, polystyrene, polypropylene (bi-axially oriented polypropylene, cast polypropylene), polyethylene terephthalate (bi-axially oriented polyethylene terephthalate, metallized PET), and others (polycarbonate), and application medical devices (sterile packaging and non-sterile packaging) and pharmaceuticals across seven regions of the globe.