The plastic healthcare packaging market study by Future Market Insights (FMI) analyzes factors enabling growth across key segments including type and application. It underscores product launches as key strategy adopted by market players as they aim for expanding their footprint globally.
Future Market Insights, Dubai: 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.
Despite logistical challenges amid restrictions imposed to contain the pandemic, the market is forecast to register 5.0% year on year growth in 2021.
The plastic healthcare packaging market will register growth at a steady pace owing to the rise in drug production coupled with government initiatives undertaken to encourage the expansion of healthcare and pharmaceutical sectors.
Manufacturers within the healthcare packaging sector are increasingly focusing on post-consumer resin (PCR) content and bioplastics as chief materials. This shift in preference can be attributed to the fact that PCR bestows a novel opportunity for manufacturers seeking more sustainable packaging solutions to address the needs of their environmentally-conscious customers.
Coupled with this, innovations in technology to offer child resistant and user-friendly packaging solutions will aid the overall expansion of the market.
Among various products, prefilled inhalers, syringes, and cartridges are widely adopted by leading manufacturers. As per FMI, the product category is estimated to account for 62.6% of overall market share by the end of 2031. The rising prevalence of respiratory diseases will further boost sales of per filled inhalers.
According to the study, the China market is likely to witness significant growth over the forecast period. Demand outlook for China remains positive driven by economic growth, availability of raw materials, low cost of labor, and growing expenditure on healthcare. As per FMI, the China market will account for volume share of over 53.9% in 2021.
“Increasing use of innovative technologies such as barcoding and QR codes will aid in minimizing the chances of counterfeiting drug formulations, thereby spurring sales of plastic healthcare packaging. In the coming years, this will continue to offer lucrative opportunities for growth of the market,” said a Future Market Insights analyst.
Key Takeaways from Plastic Healthcare Packaging Market Survey
- China will present a positive demand outlook, accounting for over 53.9% of the East Asia market in 2021.
- India market is expected to grow at a steady pace, expanding at a CAGR of 8.4% over the forecast period 2021-2031.
- The U.S. is anticipated to emerge as a highly lucrative market, accounting for over 69.4% of North America market in 2021.
- Backed by robust healthcare infrastructure, Germany is set to expand at a CAGR of over 3.8% between 2021 and 2031.
- Based on material, polypropylene segment is estimated to reach a valuation of US$ 7.6 Bn in 2021.
- Rising consumer preference for sustainable packaging solutions, especially for healthcare products is supporting growth of the market.
- Increasing demand for plastic packaging in the healthcare and pharmaceutical industry to avoid the risk of breakage or contamination is bolstering future growth prospects.
- Increasing usage of polypropylene will spur sales of plastic healthcare packaging.
- Stringent regulations implemented on the usage of plastics is expected to restrict the market growth.
For information on the Research Approach used in the Report, Request Methodology@ https://www.futuremarketinsights.com/ask-question/rep-gb-1127
Plastic healthcare packaging manufacturers are focusing on new product launches to enhance their product portfolio.
For instance, in 2021, Amcor announced the launch of its new AmSkyTM blister system, which has the potential to transform the sustainability of healthcare packaging. With this new blister packaging solution, Amcor aims at setting up a standard sustainable alternative for the healthcare and pharmaceutical sector.
In 2020, Airnov Healthcare Packaging announced the launch of its new barrier bottles brand, OXYNOV. It renders protection for probiotic, pharmaceutical and nutraceutical products.
Some of the leading players operating in the plastic healthcare packaging market profiled by Future Market Insights are:
- Bilcare Limited
- Gerresheimer AG
- Amcor Limited, Schott AG
- Constantia Flexibles Group
- Alexander (James) Corporation
- Klockner Pentaplast Group
- Becton & Dickinson Company
- Clondalkin Group, Berry Global, Inc.
- Comar LLC
- Nipro Corporation
- Mondi Group plc
- Adelphi Healthcare Packaging
- Wipak Ltd.
- Aptar Group, Inc.
- West Rock Company
- West Pharmaceutical Services, Inc.
- McKesson Corporation
- Novio Packaging.
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:
- Vials & Ampoules
- Dropper Bottles
- Nasal Spray Bottles
- Liquid Bottles
- Bags, Pouches & Sachets
- IV Bags
- Medical Specialty Bags
- Prefilled Inhalers, Syringes & Cartridges
- Containers & Jars
- Caps & Closures
- Medication Tubes
By Material Type:
- Low Density Polyethylene (LDPE)
- High Density Polyethylene (HDPE)
- Linear Low Density Polyethylene (LLDPE)
- Polyvinyl Chloride
- Bi-axially Oriented Polypropylene (BOPP)
- Cast Polypropylene (CPP)
- Polyethylene Terephthalate
- Bi-axially oriented Polyethylene Terephthalate (BoPET)
- Metallized PET
- Others (Polycarbonate)
- Medical devices
- Sterile packaging
- Non sterile packaging
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
Key Questions Covered in the Plastic Healthcare Packaging Market Report
- The market survey also highlights projected sales growth for plastic healthcare packaging market between 2021 and 2031
- The report offers insight into plastic healthcare packaging demand outlook for forecast period 2021-2031
- Plastic healthcare packaging market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Plastic healthcare packaging market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry