Plastic Healthcare Packaging Market - Forecast(2024 - 2030)
Plastic Healthcare Packaging Market Overview
Plastic Healthcare Packaging Market size is estimated to reach $7.6 billion by 2027, growing at a CAGR of 5.3% during the forecast period 2022-2027. Plastic healthcare packaging can be delineated as a process taken into consideration while packing various pharmaceuticals and medical devices. Plastic packaging acts as a shield and extends protection from outer environment contaminations and damages. Different types of materials such as polypropylene, polyethylene terephthalate, and low density polyethylene plastics are used to fabricate such packaging. Nowadays, contemporary biodegradable plastics are emerging as a prominent alternative to other forms of plastic as they decompose effortlessly and pose no threat to the environment. Moreover, plastic packaging is cost-effective as compared to other alternatives and offers state-of-the-art protection due to its high rigidity, water-proof, and flexible nature. Besides plastic, there are various other types of medical packaging which include paperboard, containers, aluminum foils, and others. To prevent drug counterfeiting, governments and health agencies around the world have made serialization mandatory under which exclusive codes are printed on drug packages. The plastic healthcare packaging market outlook is fairly fascinating as demand for pharmaceuticals is sky-rocketing due to escalating hospitalizations. The growing chronic illnesses, intensifying covid infections, and accruing research and developmental activities are the factors set to drive the growth of the Plastic Healthcare Packaging Market for the period 2022-2027.
Report Coverage
The
report: “Plastic Healthcare Packaging Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of
the following segments of the Plastic Healthcare Packaging Market.
Key Takeaways
- Geographically, the North America Plastic Healthcare Packaging Market accounted for the highest revenue share in 2021. However, Asia-pacific is poised to dominate the market over the period 2022-2027.
- Heightening healthcare funding and demand for pharmaceuticals as various health complications are roaming around the world at an unremitting pace which is said to be a preeminent factor driving the growth of the Plastic Healthcare Packaging Market. Nevertheless, rising plastic pollution and rigorous government policies are said to reduce market growth.
- Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Plastic Healthcare Packaging Market report.
Plastic Healthcare Packaging Market Share, By Region (%) in 2021
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Plastic Healthcare Packaging Market Segment Analysis-By Type
The Plastic Healthcare Packaging Market based on the type can be further segmented into bottle packaging, vial packaging, blister packaging, jars packaging, syringe packaging, tubes and inhaler packaging, and others. The vial and syringes segment held the largest share in 2021. The growth is owing to the relentless pace at which the COVID-19 is spreading across the globe. Syringes and vials are the primary requirements for storing and administering the vaccine. Therefore, with accruing hospitalizations the overall demand for vials and syringes is sky-rocketing. In addition to that, the enlarging spread of chronic illnesses has heightened the number of surgical procedures. Moreover, along with syringes and vials, the blister segment is estimated to be the fastest-growing with a CAGR of 6.5% over the forecast period 2022-2027. This growth is owing to the mounting prevalence of transmissible maladies such as influenza. Also, the flourishing demand for numerous antiemetic drugs and painkillers such as Zofran, Emend, Aspirin, and others are casting votes in favor of segment growth.
Plastic Healthcare Packaging Market Segment Analysis-By Material
The Plastic Healthcare Packaging Market based on material type can be further segmented into HDPE, polyvinyl chloride (PVC), polypropylene (PP), polyethylene terephthalate (PET), biodegradable plastics, and others. The polyvinyl chloride (PVC) segment held the largest share in 2021. The growth is owing to high abrasion resistance, durability, firmness, and lightweight nature. Moreover, PVC is impervious to germs and extends easy cleaning options as compared to other alternatives, therefore, used in the fabrication of catheter tubes, casings, and other important medical devices and components. Due to its easily cleanable nature PVC is extensively used in floor settings and wall coverings of several healthcare facilities like hospitals, clinics, ASCs, and others. In addition to that, it can comparatively be recycled with no trouble by grounding into reduced fragments. However, the biodegradable plastic segment is estimated to be the fastest-growing with a CAGR of 6.8% over the forecast period 2022-2027. This growth is owing to easy decomposition which does not pose any threat to the environment. These plastics are added with extra chemicals which help them in breaking down at the drop of a hat after their usage, thus augmenting segment growth.
Plastic Healthcare Packaging Market Segment Analysis-By Geography
The Plastic Healthcare Packaging Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America segment held the largest share with 34% of the overall market in 2021. The growth in this segment is owing to the factors such as the presence of the biggest pharmaceutical players such Pfizer, Merck, Johnson & Johnson, Eli Lilly, and others. These companies have captured a considerable portion of the global medical industry and are contributing to the growth of healthcare packaging in their respective segment. In addition to that, the heavy prevalence of cancer, obesity, and diabetes are putting additional weight on the healthcare system of countries like the U.S. Nevertheless, how can we forget that the U.S. was overwhelmed by COVID-19 infections which is a prominent reason behind the broadening demand for medical procedures and drugs. However, the Asia-Pacific segment is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to unprecedented pharmaceutical production by India and China. These two countries collectively are responsible for more than half of pharmaceutical exports worldwide. China is the biggest API manufacturer in the entire world, whereas, India is designated as the pharmacy of the world. Therefore, driving the demand for plastic healthcare packaging.
Plastic Healthcare Packaging Market Drivers
Rising chronic illnesses are Anticipated to Boost Product Demand.
Chronic illnesses have played a prominent role in the rising demand for pharmaceuticals throughout the globe. Illnesses such as heart attack and cancer have emerged as a leading cause of death globally. According to World Health Organization (WHO), cancer claimed more than 10 million lives in 2020. Nevertheless, heart attacks are the biggest reason behind the demise of millions of people worldwide. For instance, every year the U.S. witness approximately 659,000 deaths from this cardiovascular complication, according to WHO. Besides cancer and heart attack, complications like obesity and diabetes have reached epidemic proportions. Consequently, hospitals are overwhelmed due to this massive surge and the overall demand for medical procedures and drugs is budding day after day which in turn is generating significant demand for plastic packaging.
Rising healthcare spending and proliferating COVID-19 infections are Expected to Boost Product Demand.
In the wake of the ongoing health crisis, countries around the globe are allocating innumerable riches to research and developmental activities. According to National healthcare Expenditure (NHE) data, U.S. health expenditure observed a severe rise of approximately 9.7% and reached over $4 trillion last year. The NHE report further adds that the figure is anticipated to touch $6-6.5 trillion by the year 2028. Similarly, talking about Asia, China’s research outlay crossed 7 trillion yuan in 2020. Consequently, the healthcare infrastructure is ameliorating in many countries and driving the plastic healthcare packaging market.
Plastic Healthcare Packaging Market Challenges
Augmenting plastic pollution is Anticipated to Hamper Market Growth.
Plastic is the biggest land polluter. Owing to its non-degradable or complex decomposition which may take hundreds of years to decompose, it has emerged as the biggest enemy of environmental health. For instance, every year more than 1,000,000 animals and sea creatures fall victim to it and lose their lives. Deaths of animals lead to serious health complications as in most cases the carcass of the deceased animal isn’t disposed of properly. Further, according to the Geneva Environment Network, of the approximately 275 million metric tons of plastic waste produced annually, up to 12 million tons leak into oceans, wreaking havoc on livelihoods and ecosystems. The result is an estimated $13 billion in annual environmental damage to marine ecosystems. Therefore, as a deterrent to such scenarios, several governments around the globe have imposed or are imposing strict restrictions regarding the usage of materials like plastics which may hamper the growth of the market.
Global Plastic Healthcare Packaging Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Plastic Healthcare Packaging Market. Key companies of this market are:
- Tekni-Plex
- Aphena Pharma Solutions
- United drug
- Sealed Air
- Beacon Converters
- Catalent Pharma solutions
- Vetter Pharma
- UDG Healthcare
- Constantia Flexibles
- Gerresheimer AG
Recent Developments/Product Launches:
- On September 21, 2021, Pennsylvania, United States-based famous pharmaceuticals and medical device manufacturing company “Tekni-Plex” announced the successful acquisition of US-based packaging company “Grupo Phoenix Capital Limited.” The financials of the deal were not disclosed by the company. However, the transaction is likely to enhance Tekni’s packaging portfolio.
- On June 29, 2021, US-based private equity firm “Clayton Dubilier & Rice”, commonly known as CD&R, announced that it has signed an agreement with Dublin, Ireland-based well-known healthcare company “UDG Healthcare.” According to the agreement, UD&R acquire an ownership stake in UDG for a price of $3.7 billion.
- On May 2, 2019, North Carolina, United States-based packaging company “Sealed Air” publicized that the company has successfully acquired US-based bagging system manufacturing company “Automated Packaging System.” Sealed Air made a payment of $510 million (including cash and debt) in order to bring the transaction to a close.
Relevant Links:
LIST OF TABLES
1.Global Key Manufacturers Market 2023-2030 ($M)1.1 Sealed Air Market 2023-2030 ($M) - Global Industry Research
1.2 Tekni-Films Market 2023-2030 ($M) - Global Industry Research
1.3 United Drug Market 2023-2030 ($M) - Global Industry Research
1.4 Vetter Pharma International Market 2023-2030 ($M) - Global Industry Research
1.5 Aphena Pharma Solutions Market 2023-2030 ($M) - Global Industry Research
1.6 Beacon Converters Market 2023-2030 ($M) - Global Industry Research
1.7 Bilcare Research Market 2023-2030 ($M) - Global Industry Research
1.8 Catalent Pharma Solutions Market 2023-2030 ($M) - Global Industry Research
1.9 Constantia Flexibles Market 2023-2030 ($M) - Global Industry Research
2.Global By Plastic Market 2023-2030 ($M)
3.Global Market by Type Market 2023-2030 ($M)
3.1 Plastic Market 2023-2030 ($M) - Global Industry Research
3.2 Glass Market 2023-2030 ($M) - Global Industry Research
3.3 Paperboard Market 2023-2030 ($M) - Global Industry Research
4.Global Key Manufacturers Market 2023-2030 (Volume/Units)
4.1 Sealed Air Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Tekni-Films Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 United Drug Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Vetter Pharma International Market 2023-2030 (Volume/Units) - Global Industry Research
4.5 Aphena Pharma Solutions Market 2023-2030 (Volume/Units) - Global Industry Research
4.6 Beacon Converters Market 2023-2030 (Volume/Units) - Global Industry Research
4.7 Bilcare Research Market 2023-2030 (Volume/Units) - Global Industry Research
4.8 Catalent Pharma Solutions Market 2023-2030 (Volume/Units) - Global Industry Research
4.9 Constantia Flexibles Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global By Plastic Market 2023-2030 (Volume/Units)
6.Global Market by Type Market 2023-2030 (Volume/Units)
6.1 Plastic Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Glass Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Paperboard Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Key Manufacturers Market 2023-2030 ($M)
7.1 Sealed Air Market 2023-2030 ($M) - Regional Industry Research
7.2 Tekni-Films Market 2023-2030 ($M) - Regional Industry Research
7.3 United Drug Market 2023-2030 ($M) - Regional Industry Research
7.4 Vetter Pharma International Market 2023-2030 ($M) - Regional Industry Research
7.5 Aphena Pharma Solutions Market 2023-2030 ($M) - Regional Industry Research
7.6 Beacon Converters Market 2023-2030 ($M) - Regional Industry Research
7.7 Bilcare Research Market 2023-2030 ($M) - Regional Industry Research
7.8 Catalent Pharma Solutions Market 2023-2030 ($M) - Regional Industry Research
7.9 Constantia Flexibles Market 2023-2030 ($M) - Regional Industry Research
8.North America By Plastic Market 2023-2030 ($M)
9.North America Market by Type Market 2023-2030 ($M)
9.1 Plastic Market 2023-2030 ($M) - Regional Industry Research
9.2 Glass Market 2023-2030 ($M) - Regional Industry Research
9.3 Paperboard Market 2023-2030 ($M) - Regional Industry Research
10.South America Key Manufacturers Market 2023-2030 ($M)
10.1 Sealed Air Market 2023-2030 ($M) - Regional Industry Research
10.2 Tekni-Films Market 2023-2030 ($M) - Regional Industry Research
10.3 United Drug Market 2023-2030 ($M) - Regional Industry Research
10.4 Vetter Pharma International Market 2023-2030 ($M) - Regional Industry Research
10.5 Aphena Pharma Solutions Market 2023-2030 ($M) - Regional Industry Research
10.6 Beacon Converters Market 2023-2030 ($M) - Regional Industry Research
10.7 Bilcare Research Market 2023-2030 ($M) - Regional Industry Research
10.8 Catalent Pharma Solutions Market 2023-2030 ($M) - Regional Industry Research
10.9 Constantia Flexibles Market 2023-2030 ($M) - Regional Industry Research
11.South America By Plastic Market 2023-2030 ($M)
12.South America Market by Type Market 2023-2030 ($M)
12.1 Plastic Market 2023-2030 ($M) - Regional Industry Research
12.2 Glass Market 2023-2030 ($M) - Regional Industry Research
12.3 Paperboard Market 2023-2030 ($M) - Regional Industry Research
13.Europe Key Manufacturers Market 2023-2030 ($M)
13.1 Sealed Air Market 2023-2030 ($M) - Regional Industry Research
13.2 Tekni-Films Market 2023-2030 ($M) - Regional Industry Research
13.3 United Drug Market 2023-2030 ($M) - Regional Industry Research
13.4 Vetter Pharma International Market 2023-2030 ($M) - Regional Industry Research
13.5 Aphena Pharma Solutions Market 2023-2030 ($M) - Regional Industry Research
13.6 Beacon Converters Market 2023-2030 ($M) - Regional Industry Research
13.7 Bilcare Research Market 2023-2030 ($M) - Regional Industry Research
13.8 Catalent Pharma Solutions Market 2023-2030 ($M) - Regional Industry Research
13.9 Constantia Flexibles Market 2023-2030 ($M) - Regional Industry Research
14.Europe By Plastic Market 2023-2030 ($M)
15.Europe Market by Type Market 2023-2030 ($M)
15.1 Plastic Market 2023-2030 ($M) - Regional Industry Research
15.2 Glass Market 2023-2030 ($M) - Regional Industry Research
15.3 Paperboard Market 2023-2030 ($M) - Regional Industry Research
16.APAC Key Manufacturers Market 2023-2030 ($M)
16.1 Sealed Air Market 2023-2030 ($M) - Regional Industry Research
16.2 Tekni-Films Market 2023-2030 ($M) - Regional Industry Research
16.3 United Drug Market 2023-2030 ($M) - Regional Industry Research
16.4 Vetter Pharma International Market 2023-2030 ($M) - Regional Industry Research
16.5 Aphena Pharma Solutions Market 2023-2030 ($M) - Regional Industry Research
16.6 Beacon Converters Market 2023-2030 ($M) - Regional Industry Research
16.7 Bilcare Research Market 2023-2030 ($M) - Regional Industry Research
16.8 Catalent Pharma Solutions Market 2023-2030 ($M) - Regional Industry Research
16.9 Constantia Flexibles Market 2023-2030 ($M) - Regional Industry Research
17.APAC By Plastic Market 2023-2030 ($M)
18.APAC Market by Type Market 2023-2030 ($M)
18.1 Plastic Market 2023-2030 ($M) - Regional Industry Research
18.2 Glass Market 2023-2030 ($M) - Regional Industry Research
18.3 Paperboard Market 2023-2030 ($M) - Regional Industry Research
19.MENA Key Manufacturers Market 2023-2030 ($M)
19.1 Sealed Air Market 2023-2030 ($M) - Regional Industry Research
19.2 Tekni-Films Market 2023-2030 ($M) - Regional Industry Research
19.3 United Drug Market 2023-2030 ($M) - Regional Industry Research
19.4 Vetter Pharma International Market 2023-2030 ($M) - Regional Industry Research
19.5 Aphena Pharma Solutions Market 2023-2030 ($M) - Regional Industry Research
19.6 Beacon Converters Market 2023-2030 ($M) - Regional Industry Research
19.7 Bilcare Research Market 2023-2030 ($M) - Regional Industry Research
19.8 Catalent Pharma Solutions Market 2023-2030 ($M) - Regional Industry Research
19.9 Constantia Flexibles Market 2023-2030 ($M) - Regional Industry Research
20.MENA By Plastic Market 2023-2030 ($M)
21.MENA Market by Type Market 2023-2030 ($M)
21.1 Plastic Market 2023-2030 ($M) - Regional Industry Research
21.2 Glass Market 2023-2030 ($M) - Regional Industry Research
21.3 Paperboard Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)2.Canada Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
3.Mexico Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
4.Brazil Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
5.Argentina Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
6.Peru Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
7.Colombia Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
8.Chile Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
10.UK Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
11.Germany Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
12.France Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
13.Italy Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
14.Spain Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
16.China Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
17.India Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
18.Japan Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
19.South Korea Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
20.South Africa Global Plastic Healthcare Packaging Market Revenue, 2023-2030 ($M)
21.North America Global Plastic Healthcare Packaging By Application
22.South America Global Plastic Healthcare Packaging By Application
23.Europe Global Plastic Healthcare Packaging By Application
24.APAC Global Plastic Healthcare Packaging By Application
25.MENA Global Plastic Healthcare Packaging By Application