Plastic Healthcare Packaging Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4045
Plastic Healthcare Packaging Market size is expected to grow significantly from 2019 to 2025.
Rising availability of superior quality plastic packaging for healthcare products should prove beneficial for the industry growth. Players involved in plastic healthcare packaging industry constantly focus on increasing the R&D efforts to promote developments in packaging material. For instance, Sealed Air Corporation has been developing polyolefin based films that are majorly utilized in primary packaging of pharmaceutical solutions. Newly introduced packing solutions by Sealed Air are exceptionally durable and possess commendable physical properties that makes them easy to sterilize and autoclave them. Therefore, availability of such plastic packaging products will foster the industry growth.
Improving regulatory scenario for healthcare plastic packaging in developed as well as developing countries will positively influence the industry growth. Regulatory authorities such as the U.S. FDA and European Commission actively implement certain laws that helps the companies to maintain quality of packaging material. Thus, these laws and regulations ensure the quality and standard of plastic packaging material being marketed thereby, escalating the industry growth. However, availability of substitutes may hamper the industry growth to some extent.
Bottle packaging segment is projected to experience significant growth throughout the forecast years. Considerable segment growth can be attributed to the increasing preference for superior quality bottle packaging. Growing cases of infections caused to patients that receive intravenous medication through bottles that had leakages and other damages have augmented the need for bottle packaging. Moreover, recently developed packaging material are more durable that will increase its demand thereby, augmenting the segmental growth.
Pharmaceutical companies segment held substantial revenue share in 2018 and will have similar growth trends in the coming years. Companies manufacturing pharmaceutical drugs rely on plastic packaging as it protects the drug from damages. Furthermore, sturdy packaging prevents the pharmaceutical drugs from catching moisture. Therefore, benefits possessed by the plastic packaging materials will increase its adoption in pharmaceutical companies thereby, surging the segmental growth.
Asia Pacific healthcare packaging market is poised to attain significant growth throughout the analysis timeframe due to favorable demographic trends. Rising geriatric population suffering from chronic diseases proportionately increases the number of hospital admissions. This factor has long terms and huge positive impact on the market growth as it elevates the demand for drugs that are packaged with superior quality plastic. Aforementioned factor coupled with increasing number of companies manufacturing pharmaceutical drugs will augment the regional market growth.
Some of the major players operating in the plastic healthcare packaging market share include Tekni-Films, Sealed Air Corporation, Vetter Pharma International, United Drug, Aphena Beacon Converters, Pharma Solutions, Catalent Pharma Solutions, Constantia Flexibles and others. Players continuously implement strategic initiatives such as new product launch, mergers and acquisitions to maintain their market position. For instance, Sealed Air Corporation has developed Nexcel, high barrier films that are typically utilized in addressing the issues in stoma patients. These films provide high barrier to moisture and are stronger than other materials available. Introduction of such new products will trigger company’s growth.
Plastic Healthcare Packaging Market By Type, 2014-2025 (USD Million)
- Bottle packaging
- Blister packaging
- Syringes packaging
- Vial packaging
- Device packaging
Plastic Healthcare Packaging Market By End-users, 2014-2025 (USD Million)
- Pharmaceutical companies
- Medical device manufacturing companies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Sealed Air Corporation,
- Tekni-Films, United Drug
- Vetter Pharma International
- Aphena Pharma Solutions
- Beacon Converters
- Catalent Pharma Solutions
- Constantia Flexibles
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