Allied Market Research published a report, titled, “Plastic Healthcare Packaging Market, By Product Type (Bottles Packaging, Vials, Pouches, and Others), By Material (Polyethylene, Polypropylene, Polyethylene Terephthalate, and Others), By Industry (Pharmaceutical Packaging, and Medical Device Packing): Global Opportunity Analysis and Industry Forecast, 2022-2032.” According to the report, the global plastic healthcare packaging industry was estimated at $28.6 billion in 2022, and is anticipated to hit $48.0 billion by 2032, registering a CAGR of 5.3% from 2023 to 2033.
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Prime determinants of growth
Rise in demand for plastic packaging in the healthcare industry, technological advancement in plastic packaging technology, and surge in adoption of advanced packaging drive the growth of the global plastic healthcare packaging market. However, stringent government and regulatory regulations and environment concerns about deposition of plastic waste are hampering the plastic healthcare packaging market growth. On the contrary, technological advancement in plastic healthcare packaging such as sustainable and eco-friendly packaging solutions are expected to offer remunerative opportunities for expansion of the plastic healthcare packaging market during the forecast period.
Covid-19 Scenario
Due to the COVID-19 pandemic and the subsequent global lockdowns, the plastic healthcare packaging market was significantly boosted.
Furthermore, the demand for plastic healthcare packaging increased post-pandemic too, due to the rise in demand for pharmaceuticals and the increase in the development of more sustainable packaging solutions. This, in turn. presented various growth opportunities for companies operating in the plastic healthcare packaging market.
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The bottles packaging segment to maintain its leadership status throughout the forecast period
Based on product type, the Bottles Packaging segment held the highest market share in 2022, accounting for around two-fifths of the global plastic healthcare packaging market revenue, and it is projected to manifest the highest CAGR of 6.1% from 2023 to 2032, owing to increase in demand for bottle packaging from the pharmaceutical industry.
The polyethylene segment to maintain its leadership status throughout the forecast period
Based on material type, the Polyethylene segment held the highest market share in 2022, accounting for around one-third of the global plastic healthcare packaging market revenue, and it is projected to manifest the highest CAGR of 5.9% from 2023 to 2032. This is attributed to the increase in use of polyethylene in manufacturing of pharmaceutical packaging products. In addition, polyethylene is recyclable, versatile, and widely used in plastic packaging.
The pharmaceutical packaging segment to maintain its lead position during the forecast period
Based on industry, the Pharmaceutical Packaging segment accounted for the largest share in 2022, contributing to more than four-fifths of the global plastic healthcare packaging market revenue and it is projected to maintain the highest CAGR of 5.4% during the forecast period, owing to a rise in use of plastic healthcare packaging products such as bottle and pouches for packaging of pharmaceuticals products and surge in demand for pharmaceuticals.
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North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global plastic healthcare packaging market revenue, owing to the rise in adoption of advanced packaging solutions, strong presence of market key players, and technological advancement in the healthcare technology. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.2% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the development of the pharmaceutical industry and the adoption of new packaging products in this region.
Leading Market Players: –
Amcor Plc
Beacon Converters, Inc.
Origin Pharma Packaging
Gerresheimer Ag
Constantia Flexibles Group
Nipro Europe Group Companies
Tekniplex Inc.
Comar, Llc.
Mondi
Klockner Pentaplast
The report provides a detailed analysis of these key players in the global plastic healthcare packaging market. These players have adopted different strategies such as acquisition, product launch, product approval, and agreement to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are main factors responsible for new product launch?
- How big is the global & regional market in terms of revenue, sales and production?
- How far will the market grow in forecast period in terms of revenue, sales and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
- Which region has more opportunities?
By Region Outlook
- North America
(U.S., Canada, Mexico)
- Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
- Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
- LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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