The plastic healthcare packaging market is estimated to be valued at USD 24,768.7 million in 2023 to reach an expected valuation of USD 40,306.8 million by 2033. The demand for plastic healthcare packaging is projected to record a CAGR of 5% during the forecast period.
The healthcare industry is rapidly growing, and with it, the demand for high-quality packaging solutions. Plastic healthcare packaging is increasingly being preferred by manufacturers due to its durability, affordability, and versatility. The rise in demand for medical supplies and medicines has boosted the growth of the plastic healthcare packaging market.
Manufacturers are focusing on developing innovative packaging solutions to meet the diverse needs of their customers. They are experimenting with various shapes, colors, and designs to attract consumers and improve product visibility. Packaging solutions with advanced features, such as tamper-evident seals and child-resistant closures, are becoming popular among consumers.
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As the global population ages, the demand for medication and other healthcare products is increasing, leading to a growing demand for child-resistant packaging. This is especially important for products that pose a risk to children, such as medications and medical devices. Plastic healthcare packaging manufacturers are investing in new technologies to develop child-resistant packaging that is safe, durable, and easy to use.
Technological advancements in packaging design are helping to improve the functionality and safety of plastic healthcare packaging. For example, smart packaging solutions can improve product shelf life, reduce waste, and help consumers make informed purchasing decisions. In addition, advanced packaging design technologies are enabling manufacturers to produce lightweight, cost-effective, and easy-to-use packaging solutions that meet the needs of the healthcare industry.
Despite the growth of the plastic healthcare packaging market, several challenges remain that players must overcome to continue their success. One of the major challenges is the increasing pressure from environmental groups and consumers for more sustainable packaging solutions. Plastic packaging has a significant environmental impact, and as consumers become more environmentally conscious, the demand for more sustainable packaging options is increasing.
Another challenge faced by players in the plastic healthcare packaging market is the need for specialized materials and designs to accommodate the specific requirements of different healthcare products. The materials used in healthcare packaging must be safe, effective, and meet strict regulatory standards. This requires a high level of expertise and investment, which can be a barrier to entry into the market for some players.
Companies are looking for ways to minimize packaging waste and increase efficiency, which is putting pressure on players to improve their operations and reduce the impact of their packaging on the environment. Companies must find ways to balance these concerns with the need to protect and preserve their healthcare products, making it a challenging market to navigate.
| Attributes | Details |
|---|---|
| Plastic Healthcare Packaging Market CAGR (2023 to 2033) | 5% |
| Plastic Healthcare Packaging Market Size (2023) | USD 24,768.7 million |
| Plastic Healthcare Packaging Market Size (2033) | USD 40,306.8 million |
Principal Consultant
The global market value of plastic healthcare packaging is expected to increase at a growth rate of 5% from 2023 to 2033 in comparison to the 4% CAGR registered from 2017 to 2022. The growth witnessed can be attributable to the discovery of new drugs for the treatment of health issues and to prevent the spread of chronic diseases.
| Particulars | Details |
|---|---|
| Jan-Jun (H1), 2021 (A) | 4.0% |
| Jan-Jun (H1), 2022 Projected (P) | 3.7% |
| Jan-Jun (H1), 2022 Outlook (O) | 4.2% |
| BPS: H1,2022 (O) - H1,2021 (A) | 20 |
| BPS: H1,2022 (O) - H1,2021 (A) | 50 |
FMI has predicted that the increasing drug production and government initiatives toward the development of healthcare and pharmaceutical sectors will generate significant growth opportunities for the plastic healthcare packaging market in the coming years.
Short term (2022 to 2025): The consumption of plastic packaging in the healthcare industry is further expected to rise on the back of government funding for healthcare and pharmaceutical centers for drug development. Furthermore, plastic healthcare packaging formats are preferred by consumers, as these are not fragile and are easy to handle compared to alternative packaging solutions available in the market.
Medium term (2025 to 2028): Increasing the use of interactive technologies such as barcoding and QR codes helps in the easy tracking of inventories while minimizing the chances of counterfeiting drug formulations. The inclusion of child-resistant packaging, user-friendly solutions, and eco-friendly material is expected to increase sales in the market.
Long term (2028 to 2032): Manufacturers prefer plastic packaging for healthcare owing to its anti-microbial properties and reduced risk of breakage. Products with PCR content and bioplastics that are non-reactant and eco-friendly are likely to become popular.
The United States plastic healthcare packaging industry was estimated to be worth USD 4,648.1 million in 2022. The United States is currently the most attractive market, according to FMI. The United States is estimated to hold a market share of 19.5% in North America and is estimated to have a year-on-year growth rate of 5% in 2023.
The United States remains one of the leading manufacturers of pharmaceutical drugs, directly increasing the demand for safe and high-quality healthcare packaging.
According to the Organization for Economic Co-operation and Development (OECD), the United States is globally the country with the highest per capita healthcare spending, totaling USD 10,966 Mn in the year 2019. The United States also spends more per person on health care and medicines than any other country.
China plastic healthcare packaging industry is anticipated to rise at a CAGR of 8.8% during the forecast period. The China plastic healthcare packaging industry is estimated to be worth USD 3,125.7 million in 2022. As per PlasticsEurope, a European trade association, world plastic production was nearly 368 million tons in 2019 and China accounted for more than 1/3rd of the volume share.
Amid the COVID pandemic, the government in China has boosted the production of plastic healthcare packaging solutions. The availability of plastic raw materials is propelling growth opportunities for the key players of the target market.
China is one of Asia’s largest contributors to the production of healthcare products. The enormous market continues to grow rapidly driven by economic growth, expenditure, and an aging population owing to investments in basic health treatments. The country is projected to grow rapidly due to the low cost of raw materials and labor charges.
India plastic healthcare packaging industry was worth USD 1,794.4 million in 2022. Increasing government initiatives and awareness regarding personal health and hygiene are key factors supporting demand. The country is expected to witness prominent growth of 8.6% during the assessment period.
According to FMI, the Indian market is growing steadily due to the presence of several small-and-large scale companies that are ready to widen their reach for the production of plastic healthcare packaging.
This growth is attributable to economic development, low cost of labor, and deployment. Many key players are looking to invest in multiple profit-earning opportunities in the emerging economies of India and China.
In 2022, Germany accounted for a 4.6% share of the global plastic healthcare packaging industry. The German plastic healthcare packaging industry is estimated to be worth USD 1,083.9 million in 2022.
The Federal Statistical Office of Germany has reported that healthcare spending rose by 4% in 2018 from 2017 in Germany. In 2018, the country’s healthcare expenditure accounted for 11.7% of the GDP. Moreover, the country’s projected healthcare spending exceeds USD 505 Bn in 2020, creating a conducive environment for the expansion of the plastic healthcare packaging industry.
Demand for plastic healthcare packaging in Germany is expected to rise at nearly 3.8% CAGR over the forecast period. Germany is well known for its technology-driven industry and its developments in the healthcare sector owing to the stringent government rules and initiatives. The rise in several factories of medical devices and high consumer attractiveness towards healthcare is anticipated to cover over 4.6% of the Europe market by the year 2033.
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Prefilled inhalers, syringes, and cartridges are widely used all over the world and the segment accounts for a market share of 62.9% through the end of the year 2033. Rising occurrences of respiratory diseases will enhance the sales of pre-filled inhalers.
Vials and ampoules are anticipated to grow a robust 4.7% year over year in 2033. Demand has significantly increased since the Covid 19 outbreak owing to vaccination requirements. Plastic packaging also ensures temperature resistance, as some drugs need to be stored at a low temperature. Vials and ampoules are forecasted to expand 1.7 times by the year 2033.
Polypropylene products reached USD 7.9 billion in 2022 with a share of 33.3% 2022 and it is estimated to expand 2.0 times its current market size by 2033. Stringent rules regarding the global usage of plastics and the environmental hazards caused by the extensive use of plastic materials have forced manufacturers to switch to materials that have a higher number of cycles for reuse and recycling, supporting long-term growth.
By application, medical devices hold a dominant share of 59% in 2022. The technological advances in the medical device industry tend to challenge the packaging industry to innovate with high-quality, anti-microbial packaging.
On the back of this, the medical devices segment is estimated to witness significant gain by the 2033-year end. On the other hand, pharmaceuticals are expected to hold a market share of 43% in 2023, which will gradually fall to 38.7% in 2033.
Companies operating in the plastic healthcare packaging industry are aiming for strategic collaborations and partnerships with other manufacturers to expand their product portfolio, in addition to investing in capacity expansions.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for value and Million Units for Volume |
| Key Countries Covered | USA, Canada, Germany, the United Kingdom, France, Italy, China, Japan, India, Thailand, Brazil, Mexico, Australia, GCC Countries, Northern Africa. |
| Key Segments Covered | Product Type, Material Type, Application, Region |
| Key Companies Profiled | 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; Wipak Ltd.; Aptar Group, Inc.; West Rock Company; West Pharmaceutical Services, Inc.; McKesson Corporation; Novio Packaging. |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The plastic healthcare packaging market valuation is US$ 24,768.7 million in 2023.
The plastic healthcare packaging market is set to reach US$ 40,306.8 million by 2033, registering a CAGR of 5% over the forecast period.
North America is one of the leading regional markets for plastic healthcare packaging due to its advanced healthcare infrastructure.
Key trends in include advancements in smart packaging technologies for enhanced safety and traceability.
Polypropylene is the preferred material type due to its compatibility with sterilization methods and high-barrier properties.
1. Executive Summary | Plastic Healthcare Packaging Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Vials & Ampoules 5.2. Blisters 5.3. Bottles 5.3.1. Dropper Bottles 5.3.2. Nasal Spray Bottles 5.3.3. Liquid Bottles 5.4. Bags, Pouches & Sachets 5.4.1. IV Bags 5.4.2. Medical Specialty Bags 5.5. Prefilled Inhalers, Syringes & Cartridges 5.6. Containers & Jars 5.7. Caps & Closures 5.8. Trays 5.9. Medication Tubes 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 6.1. Polyethylene 6.1.1. Low Density Polyethylene 6.1.2. High Density Polyethylene 6.1.3. Linear Low Density Polyethylene 6.2. Polyvinyl Chloride 6.3. Polystyrene 6.4. Polypropylene 6.4.1. Bi-axially Oriented Polypropylene 6.4.2. Cast Polypropylene 6.5. Polyethylene Terephthalate 6.5.1. Bi-axially Oriented Polyethylene Terephthalate 6.5.2. Metallized PET 6.6. Polycarbonate 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Medical devices 7.1.1. Sterile packaging 7.1.2. Non sterile packaging 7.2. Pharmaceuticals 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Bilcare Limited 16.2. Gerresheimer AG 16.3. Amcor Limited 16.4. Constantia Flexibles Group 16.5. James Alexander Corporation 16.6. Klockner Pentaplast Group 16.7. Becton & Dickinson Company 16.8. Clondalkin Group 16.9. Comar LLC 16.10. Nipro Corporation 16.11. Mondi Group plc 16.12. Adelphi Healthcare Packaging 16.13. Wipak Ltd. 16.14. Aptar Group, Inc. 16.15. West Rock Company 16.16. West Pharmaceutical Services, Inc. 16.17. McKesson Corporation 16.18. Novio Packaging 17. Assumptions & Acronyms Used 18. Research Methodology
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Plastic Healthcare Packaging Market
