Plastic Healthcare Packaging Market Competitive Growth Strategies Based on Type, Applications, End-User, and Region

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.

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.

For more insights into the market, request a sample of this report@        https://www.futuremarketinsights.com/reports/sample/rep-gb-1127

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.

Key Takeaways from Plastic Healthcare Packaging Market

  • Prefilled inhalers, syringes and cartridges are anticipated to grow owing to the use of prescribed units dosing, creating an incremental opportunity of US$ 9.7 billion by 2031.
  • Polypropylene plastic healthcare packaging is gaining traction and is forecast to increase by 400 bps to reach up to 37.3% in 2031, supported by cost efficiency.
  • Germany holds the lead in the Europe market, accounting for over US$ 1 Bn in 2021, supported by expansion of production facilities.
  • The U.S. holds 66.7% of the North America market value share in 2021, with the presence of matured healthcare and pharmaceutical sectors.
  • China and Japan are fast-growing markets in East Asia reflecting CAGRs of over 8.5%, driven by higher consumer demand and growing investments towards product research.
Plastic Healthcare Packaging Market

Impact of COVID-19 on Plastic Healthcare Packaging Market

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.

Who is Winning?

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.

Plastic Healthcare Packaging Market Report

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.

Scope of the Report

AttributeDetails
Forecast Period2021-2031
Historical Data Available for2016-2020
Market AnalysisUSD Million for value and Million Units for Volume
Key Countries CoveredUS, Canada, Germany, U.K., France, Italy, China, Japan, India, Thailand, Brazil, Mexico, Australia, GCC Countries, Northern Africa.
Key Segments CoveredProduct Type, Material Type, Application, Region
Key Companies ProfiledBilcare LimitedGerresheimer AGAmcor Limited, Schott AGConstantia Flexibles GroupAlexander (James) CorporationKlockner Pentaplast GroupBecton & Dickinson CompanyClondalkin Group, Berry Global, Inc.Comar LLCNipro CorporationMondi Group plcAdelphi Healthcare PackagingWipak Ltd.Aptar Group, Inc.West Rock CompanyWest Pharmaceutical Services, Inc.McKesson CorporationNovio Packaging.
Report CoverageMarket Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & PricingAvailable upon Request

Key Questions Answered in the Report

  • What is the current valuation of the plastic healthcare packaging market?
    The current valuation of the plastic healthcare packaging market in 2021 is estimated to be US$ 22.6 billion.
  • Which is the most lucrative market for plastic healthcare packaging?
    Europe currently leads the global market for plastic healthcare packaging products. Sales in the region account for more than 30% in 2021.
  • Which is the top-selling plastic healthcare packaging by product type?
    In terms of usage, prefilled inhalers, syringes and cartridges are expected to outpace other segments and are estimated to reach nearly US$ 23 Billion, by 2031.
  • What is the outlook for the plastic healthcare packaging market in Japan and South Korea?
    Japan is emerging as a high potential market with a CAGR of 8.7%. South Korea will also reflect steady growth with a 4.5% CAGR through the end of 2031.

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