The plastic healthcare packaging global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Plastic Healthcare Packaging Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The plastic healthcare packaging market size has grown strongly in recent years. It will grow from $29.91 billion in 2023 to $32.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to rising occurrences of respiratory diseases, increase in use of plastic packaging in the healthcare industry, increase in chronic disease, increasing investment in healthcare infrastructure, and growing geriatric population.
The plastic healthcare packaging market size is expected to see strong growth in the next few years. It will grow to $44.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to increasing demand for pharmaceuticals, increase in demand for medical devices, rising consumer awareness about plastic packaging, regulatory compliance and sustainability initiatives, and rising demand for lightweight packaging products by consumers. Major trends in the forecast period include innovative packaging designs, advanced smart packaging technologies, innovating eco-friendly packaging materials, advancements in plastic packaging technology, and innovations in the healthcare industry.
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Scope Of Plastic Healthcare Packaging Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Plastic Healthcare Packaging Market Overview
Market Drivers –
The expansion of the pharmaceutical industry is expected to propel the growth of the plastic healthcare packaging market going forward. The pharmaceutical industry is a sector focused on the research, development, manufacturing, and marketing of medications and drugs. The expansion of the pharmaceutical industry is due to the increasing aging population, longer life expectancy, and advances in medical science. Plastic healthcare packaging supports the pharmaceutical industry by ensuring product safety and integrity, enhancing patient convenience, reducing costs, and enabling drug delivery and administration innovation. Its versatility, durability, and compliance with regulatory standards make it an indispensable component of the pharmaceutical supply chain. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $384,200 million (€340,000 million) in 2022, with an increase of approximately 4.95% from 366,267 million (€323,950 million) in 2021. Therefore, the expansion of the pharmaceutical industry drives the plastic healthcare packaging market.
Market Trends –
Major companies operating in the plastic healthcare packaging market are focused on sustainable packaging innovations to reduce environmental impact and improve recyclability. Sustainable packaging innovation in healthcare seeks to balance the need for safe, adequate product packaging with the urgent need to reduce environmental impact, supporting both the planet’s and the patient’s health. For instance, in September 2022, Bayer, a Germany-based healthcare company, launched Sustainable Packaging Innovation Challenge 49291, inviting innovators to contribute ideas for sustainable, flexible, and rigid packaging materials. This challenge fosters the development of innovative packaging solutions that are environmentally friendly and suitable for the healthcare sector. Through this Challenge, Bayer invites innovators, startups, entrepreneurs, and researchers to submit their knowledge of sustainable, flexible, and rigid packaging materials, including biodegradable or compostable solutions.
The plastic healthcare packaging market covered in this report is segmented –
1) By Type: Bottle Packaging, Blister Packaging, Syringes Packaging, Vial Packaging, Device Packaging, Other Types
2) By Material Type: Polyethylene, Polyvinyl Chloride, Polystyrene, Polypropylene, Polyethylene Terephthalate, Other Material Types
3) By Type Of Drug Delivery: Pulmonary, Oral drugs, Transdermal, Injectable, Nasal, Topical, Ocular
4) By End-User: Pharmaceutical Companies, Medical Device Manufacturing Companies, Other End-Users
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Regional Insights –
North America was the largest region in the plastic healthcare packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plastic healthcare packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the plastic healthcare packaging market are McKesson Corporation, Amcor Limited, Berry Global Group Inc., Mondi Group PLC, Sealed Air Corporation, Catalent Inc., Nipro Corporation, Aptar Group Inc., West Pharmaceutical Services, Tekni-Plex Inc., Gerresheimer AG, Constantia Flexibles Group, Klockner Pentaplast Group, Wipak Ltd., Comar LLC, Aphena Pharma Solutions Inc., Bilcare Limited, Adelphi Healthcare Packaging, Clondalkin Group, Alexander (James) Corporation
Table of Contents
1. Executive Summary
2. Plastic Healthcare Packaging Market Report Structure
3. Plastic Healthcare Packaging Market Trends And Strategies
4. Plastic Healthcare Packaging Market – Macro Economic Scenario
5. Plastic Healthcare Packaging Market Size And Growth
…..
27. Plastic Healthcare Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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