The plastic healthcare packaging market will register high growth with worldwide revenues forecast to increase by 5.0% year-over-year in 2021. Future Market Insights (FMI) estimates the overall valuation of the market to reach nearly US$ 37 billion in 2031.
The demand for plastic healthcare packaging will rise at a compound annual growth rate (CAGR) of 5.1% between 2021 and 2031. Blister and bottle segments are expected to create a cumulative incremental opportunity of US$ 2.3 billion, by the end of 2031.
Request Sample Report @ www.futuremarketinsights.com/reports…ep-gb-1127
Key Takeaways
- FMI has predicted that the increasing drug production and government initiatives toward the development of the healthcare and pharmaceutical sectors will generate significant growth opportunities for the plastic healthcare packaging market in the coming years.
- Plastic is the preferred material in the healthcare packaging sector as it’s not fragile and easy to handle as compared to alternative packaging solutions available in the market. Various other child-resistant packaging solutions such as user-friendly and eco-friendly materials are expected to spur sales in the market.
- Spur in the use of interactive technologies such as QR codes, and barcoding helps in easy tracking of inventories while minimizing the chances of counterfeiting drug formulations.
- There has been a positive effect on the packaging industry amidst the covid-19 pandemic. As the demand for cost-effective, high-quality, and efficient healthcare packaging solutions will gain ground through the crisis.
- The preferable material for manufacturers in the healthcare sector is plastic owing to its anti-microbial properties and reduced risk of breakage. Products with PCR content and bioplastics which are non-reactant and eco-friendly are likely to become popular.
2015-2020 Plastic Healthcare Packaging Market Outlook Compared to 2021-2031 Forecast
The global market value of plastic healthcare packaging is expected to increase at a growth rate of 5.1% during 2021-2031 in comparison to the 3.6% CAGR registered during 2016-2020. Growth witnessed can be attributable to the discovery of new drugs for treatment of health issues and to prevent spread of chronic diseases.
The consumption of plastic packaging in the healthcare industry is further expected to rise on the back of government funding for healthcare and pharmaceutical centers for drug development.
Recently, the Guangzhou Sino-Israel Bio-industry Investment Fund (GIBF) announced fund of US$ 300 million for joint drug development ventures. FMI has predicted that the increasing drug production and government initiatives toward development of healthcare and pharmaceutical sectors will generate significant growth opportunities for the plastic healthcare packaging market in the coming years.
Ask an Analyst @ www.futuremarketinsights.com/askus/rep-gb-1127
Competitive Landscape
Companies operating in the plastic healthcare packaging market are aiming for strategic collaborations and partnerships with other manufacturers to expand their product portfolio, in addition to investing in capacity expansions.
- In April 2021, Amcor plc launched a recyclable polyethylene-based thermoform blister packaging format. It is intended to meet the high standards of regulated pharmaceutical packaging that creates a sustainable alternative.
- In January 2021, Gerresheimer planned to build a second production plant near Mumbai, India to meet plastic healthcare packaging requirements worldwide. The product portfolio includes plastic containers, plastic ampoules, plastic bottles and more in a variety of designs.
Key Companies Profiled
- 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
Plastic Healthcare Packaging Market by Category
By Product Type:
- Vials & Ampoules
- Blisters
- Bottles
- Dropper Bottles
- Nasal Spray Bottles
- Liquid Bottles
- Bags, Pouches & Sachets
- IV Bags
- Medical Specialty Bags
- Prefilled Inhalers, Syringes & Cartridges
- Containers & Jars
- Caps & Closures
- Trays
- Medication Tubes
By Material Type:
- Polyethylene
- Low Density Polyethylene (LDPE)
- High Density Polyethylene (HDPE)
- Linear Low Density Polyethylene (LLDPE)
Request Complete TOC @ www.futuremarketinsights.com/toc/rep…ep-gb-1127
Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
- Market Overview
2.1. Market Taxonomy
2.2. Market Definition
- Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation
- Key Success Factors
4.1. Product Usage Analysis
4.2. Product USPs
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse Latest Market reports: https://www.futuremarketinsights.com/reports