New York, United States , April 17, 2024 (GLOBE NEWSWIRE) -- The Global Plastic Healthcare Packaging Market Size is to Grow from USD 29.89 Billion in 2023 to USD 49.34 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.14% during projected period.
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Plastic healthcare packaging refers to the use of different plastic materials to package medical devices, pharmaceuticals, and healthcare products. These packaging options are meant to keep the enclosed materials safe, intact, and sterile while also providing convenience and ease of use to healthcare professionals and patients. Plastic healthcare packaging comes in a range of formats, including bottles, vials, blister packs, bags, and pouches. The use of plastic materials in healthcare packaging offers various benefits, including durability, lightweight, sustainability, adaptability, and cost-effectiveness. Packaging contributes to the preservation and protection of healthcare items against material deterioration, biological infection, and other environmental factors. Sterile product packaging is comprised of high-density polystyrene or polyethylene that is gas-impermeable. Advancements in plastic packaging technology are driving global growth in the plastic healthcare packaging market. The rise in chronic diseases and medication demand has led to the development of innovative solutions. Regulatory regulations and quality standards have compelled manufacturers to adopt safe materials, emphasizing patient safety and expanding market to various application areas. However, advanced healthcare packaging materials pose environmental and cost concerns due to non-biodegradability and ecosystem impact, while stringent regulatory compliance requirements limit market entry for new players. Hence, these factors might impede the market growth of the global plastic healthcare packaging market during the forecast period.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Plastic Healthcare Packaging Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Bottles Packaging, Vials, Pouches, Others), By Material (Polyethylene, Polypropylene, Polyethylene Terephthalate, Others), By End Use (Pharmaceutical Packaging, Medical Device Packing), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The bottle packaging segment is anticipated to hold the greatest share of the global plastic healthcare packaging market during the projected timeframe.
On the basis of product type, the global plastic healthcare packaging market is divided into bottle packaging, vials, pouches, and others. Among these, the bottle packaging segment is anticipated to hold the greatest share of the global plastic healthcare packaging market during the projected timeframe. The growth can be attributed to the increased demand for oral solid dosage forms such as tablets and capsules, as well as their cost-effectiveness.
The polyethylene segment is predicted to grow at the fastest pace in the global plastic healthcare packaging market during the estimated period.
On the basis of material, the global plastic healthcare packaging market is divided into polyethylene, polypropylene, polyethylene terephthalate, and others. Among these, the polyethylene segment is predicted to grow at the fastest pace in the global plastic healthcare packaging market during the estimated period. The segmental growth can be attributed to the polyethylene providing exceptional flexibility, durability, and chemical & moisture resistance. Technological advancements enhance the properties and applications of polyethylene.
The pharmaceutical packaging segment is predicted to hold the greatest share of the global plastic healthcare packaging market during the estimated period.
On the basis of end use, the global plastic healthcare packaging market is divided into pharmaceutical packaging and medical device packing. Among these, the pharmaceutical packaging segment is predicted to hold the greatest share of the global plastic healthcare packaging market during the estimated period. The segmental growth can be attributed to the advances in packaging technologies, such as the development of novel materials and smart packaging solutions, which are driving up demand for medications.
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North America is anticipated to hold the largest share of the global plastic healthcare packaging market over the predicted timeframe.
North America is projected to hold the largest share of the global plastic healthcare packaging market over the forecast period. The regional growth can be attributed to the region's large aging population and high prevalence of chronic diseases have resulted in increased demand for healthcare products such as medications and medical gadgets. This rising demand has created a need for plastic healthcare packaging solutions to carry & safeguard these products. North America provides a hub for technical developments and healthcare innovations. Many of the region's biggest pharmaceutical and medical device businesses are investing extensively in R&D to produce new and advanced healthcare products. These products require specific packaging solutions, which has raised the demand for plastic healthcare packaging.
Asia-Pacific is expected to grow at the fastest CAGR growth of the global plastic healthcare packaging market during the forecast period. The growth can be attributed to the Increased use of plastic packaging products. The region's population is large and fast rising, driving up demand for healthcare products and services. The increase in healthcare investment in nations such as China and India have resulted in increasing investment in healthcare facilities, pharmaceuticals, and medical gadgets, producing a considerable need for plastic healthcare packaging.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global plastic healthcare packaging market include Gerresheimer AG, Bilcare Limited, Constantia Flexibles Group, Alexander Corporation, Amcor Limited, Clondalkin Group, West Rock Company, Packaging, Wipak Ltd., Comar LLC., Nipro Corporation, Mondi Group plc., Adelphi Healthcare, Klockner Pentaplast Group, Becton & Dickinson Company, Others.
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Recent Developments
- In May 2023, Amcor Inc., a global chief in packaging solutions, took a full-size step by getting into a definitive agreement to acquire Moda systems. This strategic pass is designed to increase Amcor's capabilities in the field of film-based packaging. The acquisition is set to provide an all-encompassing packaging answer, masking number one packaging, gadgets, onsite technical help, and elements.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global plastic healthcare packaging market based on the below-mentioned segments:
Global Plastic Healthcare Packaging Market, By Product Type
- Bottles Packaging
- Vials
- Pouches
- Others
Global Plastic Healthcare Packaging Market, By Material
- Polyethylene
- Polypropylene
- Polyethylene Terephthalate
- Others
Global Plastic Healthcare Packaging Market, By End Use
- Pharmaceutical Packaging
- Medical Device Packing
Global Plastic Healthcare Packaging Market, Regional Analysis
- North America
- US
- Canadas
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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