NEWARK, Del, April 17, 2023 (GLOBE NEWSWIRE) -- The plastic healthcare packaging market is predicted to be valued at US$ 24,768.7 million in 2023, rising to US$ 40,306.8 million by 2033. The demand for plastic healthcare packaging is expected to rise at a CAGR of 5% during the forecast period.
The plastic healthcare packaging market is expected to experience significant growth in the coming years. The increasing demand for safe and hygienic packaging for medical products is driving the market. The healthcare industry is continuously growing and with it, the demand for safe and reliable packaging solutions is also increasing. Plastic packaging offers several advantages such as barrier protection, ease of use, and cost-effectiveness, making it a popular choice in the healthcare industry.
One of the major trends in the plastic healthcare packaging market is the shift toward eco-friendly packaging solutions. Consumers are becoming more aware of the environmental impact of plastic packaging and are looking for alternatives that are sustainable and environmentally friendly. To meet this demand, many players in the industry are investing in research and development to create eco-friendly packaging solutions. This is expected to create new growth opportunities for the plastic healthcare packaging industry in the coming years.
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Another growth driver in the industry is the increasing demand for single-use packaging. Single-use packaging is gaining popularity as it helps to reduce the risk of contamination and the spread of infections. The packaging is designed for one-time use and can be easily disposed of, making it an ideal solution for the healthcare industry. The growing demand for single-use packaging is expected to drive the plastic healthcare packaging industry in the coming years.
However, the plastic healthcare packaging industry is facing several challenges as well. The most significant challenge is the growing concern about plastic waste and its impact on the environment. Plastic packaging is often not recycled and ends up in landfills, where it can take hundreds of years to decompose. This has led to increased pressure on the industry to find sustainable and environmentally friendly alternatives to plastic packaging. Additionally, the high cost of raw materials used in the production of plastic packaging is also affecting the industry, making it challenging for players to maintain profitability. These challenges must be addressed by players in the plastic healthcare packaging industry to ensure continued growth in the coming years.
Key Takeaways from the Plastic Healthcare Packaging Market:
- The plastic healthcare packaging industry in the United States is expected 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. The China plastic healthcare packaging industry is expected to be valued at US$ 3,125.7 million in 2022.
- In 2022, India's plastic healthcare packaging market was worth US$ 1,794.4 million.
- Germany held a 4.6% market share of the global plastic healthcare packaging market in 2022. In 2022, the German plastic healthcare packaging business is expected to be valued at US$ 1,083.9 million.
- Prefilled inhalers, syringes, and cartridges are widely utilized around the world, with the category accounting for 62.9% of the market by the end of 2033.
- Polypropylene goods reached US$ 7.9 billion in 2022, with a 33.3% market share, and it is expected to grow 2.0 times its current market size by 2033.
- The medical devices segment held 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.
The Key Players Are:
- 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.
- Comar LLC
- Nipro Corporation
- Mondi Group plc
- Adelphi Healthcare Packaging
- Others.
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Plastic Healthcare Packaging Market Segmentations-
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
Table of Content
1. Executive Summary | Plastic Healthcare Packaging Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
4. Global Market Analysis 2018 to 2022 and forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2023 to 2033
Read More TOC.
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