The plastic healthcare packaging market is anticipated to be worth US$ 24,768.7 million in 2023 and US$ 40,306.8 million by 2033. Throughout the forecast period, the demand for plastic healthcare packaging is anticipated to grow at a CAGR of 5%.
Because of their particular specifications and sterilisation, these goods reduce the possibility of contamination and adverse reactions. Notwithstanding worries about weight and fragility, medical instruments frequently come in glass and metal packing styles.
As it satisfies the exacting demands of the medical and healthcare packaging business, high quality plastic packaging material is gaining popularity. Plastic polymers like polyethylene terephthalate, polypropylene, and polyvinyl chloride can assist protect medical supplies.
Blister packaging, bottles, containers, IV bags, pharmaceutical tubes, prefilled inhalers, syringes, caps and closures, and even medical equipments like incubators and surgical equipment are all examples of plastic packaging used in the healthcare sector.
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Medical gadget availability in hospitals and at-home care facilities is minimising the need for clinical support. Due to the existence of major market players and the easier accessibility of technology improvements, European and North American countries are predicted to continue to have high levels of plastic healthcare packaging use worldwide.
The pharmaceutical industry is advancing quickly in the Asia-Pacific region, which is fueling the expansion of the plastic healthcare packaging market during the next ten years.
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.
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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 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
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By Material Type:
- Polyethylene
- Low Density Polyethylene (LDPE)
- High Density Polyethylene (HDPE)
- Linear Low Density Polyethylene (LLDPE)
Significant deployment of AI technology in the drug development process is one of the prominent trends characterizing plastic healthcare packaging market outlook through 2021-2031. In April 2021, for instance, Evotec announced the Phase I clinical trials of its new anticancer molecule, developed in partnership with Exscientia, a company that applies AI techniques to small-molecule drug discovery.
This increased reliance on innovative technology could proliferate the drug discovery process and consequently amplify the need for plastics in pharmaceutical packaging. The rising awareness about the benefits of flexible medical packaging, including its capability to hold up well under sterilization agents like gamma radiation and ethylene oxide, will also contribute to the rising product popularity. However, concerns regarding plastics pollution and the implementation of various stringent norms against the use of single-use plastics may create a hindrance to industry dynamics in the years ahead.
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