According to projections from a report, the plastic medical packaging market is expected to grow at a compound annual growth rate (CAGR) of 5% over the forecast period, reaching a value of US$24,768.7 million in 2023 and US$40,306.8 million in 2033.
The increasing demand for safe and hygienic packaging solutions in the healthcare industry is a significant driver for the growth of the plastic medical packaging market. Plastic packaging offers advantages such as barrier protection, usability, and affordability, making it a preferred choice in the healthcare sector.
A prominent trend in the industry is the shift towards eco-friendly packaging solutions. With rising consumer awareness about the environmental impact of plastic packaging, there is a growing demand for sustainable alternatives. Market players are investing in research and development to provide environmentally friendly packaging options, creating new opportunities for the plastic medical packaging industry.
The need for single-use packaging is also driving market expansion. Single-use packaging reduces the risk of contamination and disease transmission, making it increasingly popular in the healthcare sector. Plastic packaging designed for single-use is convenient and easy to dispose of. The growing demand for single-use packaging is expected to fuel the growth of the plastic medical packaging market.
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However, the industry faces challenges, primarily related to plastic waste and its environmental impact. The accumulation of plastic packaging in landfills without proper recycling has raised concerns about its long degradation time. There is increasing pressure on the industry to offer environmentally responsible and sustainable alternatives. Additionally, the high cost of raw materials used in plastic packaging production poses profitability challenges for businesses in the market. Addressing these issues will be crucial for the future success of players in the plastic medical packaging market.
Key Takeaways from the Plastic Healthcare Packaging Market:
- The plastic healthcare packaging industry in the United States is projected to be valued at US$4,648.1 million in 2022.
- The China plastic healthcare packaging industry is expected to grow at an 8.8% CAGR over the forecast period, reaching a value of US$3,125.7 million in 2022.
- The plastic healthcare packaging market in India was worth US$1,794.4 million in 2022.
- Germany held a 4.6% market share of the global plastic healthcare packaging market in 2022, with an expected value of US$1,083.9 million in the same year.
- Prefilled inhalers, syringes, and cartridges are widely used globally, accounting for 62.9% of the market by the end of 2033.
- Polypropylene products held a 33.3% market share, reaching US$7.9 billion in 2022, and are expected to grow 2.0 times their current market size by 2033.
- The medical devices segment accounted for a 59% share of the market in 2022
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Competitive Landscape of the Plastic Healthcare Packaging Market
The plastic healthcare packaging market is characterized by a high degree of competition, with a large number of established players vying for market share. Major players such as Berry Global Inc, Amcor Limited, Gerresheimer AG, and Bemis Company, Inc. are dominating the market with their strong brand recognition, extensive distribution networks, and innovative product offerings.
In recent years, the market has witnessed the entry of several new players, which are investing heavily in research and development activities to expand their product portfolios and gain a larger share of the market. The growing demand for eco-friendly and sustainable packaging solutions has also encouraged companies to develop biodegradable and compostable plastic packaging solutions.
To remain competitive, players are focusing on expanding their production capacities, expanding their product portfolios, and strengthening their distribution networks. In addition, players are also collaborating with leading healthcare companies to provide customized packaging solutions for their products, thereby increasing their market share.
Key Players:
- Bilcare Limited
- Gerresheimer AG
- Amcor Limited, Schott AG
- Constantia Flexibles Group
- Alexander (James) Corporation
- Klockner Pentaplast Group
- Becton & Dickinson Company
- Clondalkin Group, Berry Global, Inc.
Country-wise Insights:
- The United States plastic healthcare packaging industry was estimated to be worth US$ 4,648.1 million in 2022. The United States is currently the most attractive market, according to FMI.
- China plastic healthcare packaging industry is anticipated to rise at a CAGR of 8.8% during the forecast period. The China plastic healthcare packaging industry is estimated to be worth US$ 3,125.7 million in 2022.
- India plastic healthcare packaging industry was worth US$ 1,794.4 million in 2022. Increasing government initiatives and awareness regarding personal health and hygiene are key factors supporting demand.
- In 2022, Germany accounted for a 4.6% share of the global plastic healthcare packaging industry. The German plastic healthcare packaging industry is estimated to be worth US$ 1,083.9 million in 2022.
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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)
- Polyvinyl Chloride
- Polystyrene
- Polypropylene
- Bi-axially Oriented Polypropylene (BOPP)
- Cast Polypropylene (CPP)
- Polyethylene Terephthalate
- Bi-axially oriented Polyethylene Terephthalate (BoPET)
- Metallized PET
- Others (Polycarbonate)
By Application:
- Medical devices
- Sterile packaging
- Non sterile packaging
- Pharmaceuticals
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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