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Plastic Healthcare Packaging Market : Global Demand Analysis & Opportunity Outlook 2024

Buy Now Report ID: 282 | Published Date: Feb 13, 2023

Market Segmentation

Our in-depth analysis of the global plastic healthcare packaging market includes the following segments:

By Industries

  • Pharmaceutical
  • Medical device

By End Markets

  • Plastic Bottles
  • Blister  Packs
  • Caps and Closure
  • Pre-fillable syringes

By Packaging Type

  • Primary Packaging
  • Secondary Packaging

The global plastic healthcare packaging market has further been classified on the basis of region as follows:

By Region

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis


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plastic Healthcare Packaging market
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Market Size and Forecast

The global healthcare packaging market is expected to grow at a CAGR of over 7% over the forecast period i.e. 2017-2024. The growth of the market is attributed to the recent increase in the usage of disposable medical products. A large number of the healthcare products used in the modern healthcare facilities such as needles, pre-filled syringes and trays are available as the disposable products.

plastic Healthcare Packaging market

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These products offer benefits such as reduction in risk of cross- contamination, safety, sterility, convenience of usage that has increased the demand for the plastic, thus leading to the growth of the global healthcare packaging market. Moreover, the single-use disposable medical products have eliminated the need for re-sterilization for repeated use and are highly cost-effective.


Growth Drivers and Challenges

Market-Growth-Drivers

The growth of the market is primarily driven by the rising adoption of plastic in healthcare product due to the ease offered by them in disposing of the products when they are consumed. Growing use of plastic in healthcare packaging is mainly attributed to the innovation in the use of making plastics. The combination of plastic technology and use of sensors and other smart equipment in healthcare packaging is expected to boost the overall safety and security of medicines, vaccines, syringes, etc. In addition, the macro-economic trend, the packaging industry is moving to the next generation, with smart sensors and real time tracking paving the way for the adoption of advanced plastic packaging solutions. Further, the plastic as a sought after packaging product in healthcare sector is facing an increased demand due to its advantages of being the cost effective and sturdiness. Moreover, the mass production of plastic packaging materials offers substantial cost advantages to the manufacturers, making plastic a preferred material for packaging of syringes and trays. However, the growth of the market is hindered by the increase in counterfeiting practices in the pharmaceutical industry. Asian countries are highly affected by counterfeiting of pharmaceutical products, especially in non-prescribed drugs. Moreover, the healthcare packaging market is constantly challenged by shifting trends such as the increased use of disposable medical products, an ageing population and tamper-evident packaging.

Geographically, North America is the largest market for plastic packaging in the healthcare sector, followed by Asia Pacific.  The growth in the region is driven by the presence of health-conscious people and their spending power. Strong innovation, rising aging population and inclining consumer demand towards the sophisticated packaging is likely to boost the growth of the healthcare packaging in North American region. The growth of the healthcare packaging in Asia- Pacific, particularly the economies of India and China has emerged as the hub of the medical tourism, fueled by strong investment in healthcare sector. Moreover, the Latin America is expected to offer growth opportunities to key players in healthcare plastic packaging market in the coming few years. Brazil is evolving as a lucrative healthcare center in Latin America, and it is expected that in future, the healthcare plastic packaging sector will witness favorable growth rates.


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Top Featured Companies Dominating the Market

top-features-companies
    • Aphena Pharma Solutions
      • Company Overview
      • Key Product Offerings
      • Business Strategy
      • SWOT Analysis
      • Financials
    • Tekni-Films
    • Catalent Pharma Solutions
    • James Alexander Corporation
    • Aptar Group
    • Barger Packaging
    • Cardinal Health
    • Global Closure Systems
    • Nypro Packaging
    • Sonoco

    Scope and Context

    Overview of the Parent Market

    Analyst View

    Segmentation

    The global plastic healthcare packaging market is segmented as follows:

    • By Industries Market Size & Y-O-Y Growth Analysis
    • By End Markets Market Size & Y-O-Y Growth Analysis
    • By Packaging Type Covered & Y-O-Y Growth Analysis
    • By Region Market Size & Y-O-Y Growth Analysis

    Market Dynamics

    Supply & Demand Risk

    Competitive Landscape

    Porter’s Five Force Model

    Geographical Economic Activity

    Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

    Recent Trends and Developments

    Industry Growth Drivers and Challenges

    Key Information for Players to establish themselves in current dynamic environment


In-the-news

In The News


preview-analysis

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


Author Credits:  Sadaf Naaz, Mohd Shadab


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