Plastics play a vital role in healthcare packaging due to
its adaptability and cost-effectiveness, protecting medical
products and promoting sustainability through innovations such as
bioplastics and recycling.
BOSTON, May 7, 2024
/PRNewswire/ -- "According to the latest BCC Research study, the
demand for Plastics for Healthcare Packaging is growing
from $32.1 billion in 2023 to
$46.1 billion by the end of 2028, at
a compound annual growth rate (CAGR) of 7.5% from 2023 through
2028."
This report analyzes the global plastics for the healthcare
packaging market, focusing on resin and product packaging segments.
It covers the period from 2023 to 2028, with estimates provided in
terms of volume (kilo tons) and revenue (millions of U.S. dollars).
Resin categories include polypropylene, HDPE, polystyrene and
copolymers, LDPE/LLDPE, PVC, PET, and others, with polypropylene
dominating. Product packaging encompasses containers, caps and
closures, vials, IV bags, prefilled syringes, blister packs,
bags/pouches, medication tubes, prescription containers, and
others.
Plastic companies like Avient Corporation and Neste, along with
packaging companies such as Amcor and Bormioli Pharma, are
investing in bio-based plastics and packaging. Bormioli Pharma
partnered with Loop Industries, Inc., unveiling a new
pharmaceutical packaging bottle made with 100% recycled PET resin
at Pharmapack Europe 2024. This reflects a growing trend towards
sustainable practices in the pharmaceutical packaging industry.
To learn more about the "Healthcare Packaging Plastics" report,
click here for more information.
Key Drivers of Plastics for Healthcare Packaging
Growing Pharmaceutical and Pharmaceutical Packaging
Industry: The pharmaceutical industry is expanding worldwide,
driven by factors such as population growth and increasing health
awareness. As more drugs and medical devices are developed, the
need for secure packaging continues to grow. Plastics are preferred
because of their versatility, sterility and lightness, which is
perfect for industry. This synergy is driving the adoption of
plastic materials in healthcare packaging.
Benefits and Cost-Effectiveness of Plastics over Other
Packaging Materials: Plastic has many advantages over
alternatives such as glass or metal. They are more cost effective,
easier to handle and less likely to break during shipping. Their
lightweight properties reduce transport costs and energy
consumption. Many types of plastic can be recycled, which
contributes to sustainability. They also offer design flexibility
and provide security features such as tamper-proof sealing. Plastic
has a lower carbon footprint and is on the eco-friendly trend,
making it the best choice for both manufacturers and consumers.
Request a Sample Copy of the Plastics for
Healthcare Packaging Report.
Report Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2022
|
Forecast Period
considered
|
2023-2028
|
Base year market
size
|
$29.9
billion
|
Market Size
Forecast
|
$46.1
billion
|
Growth Rate
|
CAGR of 7.5% from 2023
to 2028
|
Segment
Covered
|
By Product, Resin Type,
and Geographic Region
|
Regions
covered
|
North America, Europe,
Asia-Pacific, and Rest of World
|
Key Market
Drivers
|
•
Growing Pharmaceutical and Pharmaceutical
Packaging Industry
•
Benefits and Cost-Effectiveness of
Plastics over Other Packaging Materials
|
Segmentation Analysis:
- Resin Types: Plastics like PP, HDPE, Polystyrene,
LDPE/LLDPE, PVC, PET, and specialty blends are used in medical
packaging for their specific properties.
- Product: Containers, caps & closures, vials, IV
bags, prefilled syringes, blister packs, bags/pouches, medication
tubes, prescription containers, and miscellaneous items make up
medical packaging.
- Geographical Regions: North
America, Europe,
Asia-Pacific, and Rest of World
each have distinct characteristics in the medical packaging
market.
This report on the Plastics for Healthcare Packaging provides
comprehensive insights and analysis, addressing the following key
questions:
- What is the projected market size and growth rate of the
market?
The plastic for healthcare packaging market is projected to grow
from $29.9 billion in 2022 to
$46.1 billion in 2028 at a compound
annual growth rate (CAGR) of 7.5% during the forecast period.
- What are the key factors driving the growth of the market?
The key factors driving the growth of the plastic for healthcare
packaging market include:
Growing pharmaceutical and pharmaceutical packaging
industry.
Benefits and cost-effectiveness of plastic over
other packaging materials.
- What segments are covered in the market?
The plastic for healthcare packaging market is segmented based
on resin, packaging products, and region.
- By product, which segment will dominate the market by the end
of 2028?
The containers segment will dominate the market by the end of
2028 in terms of volume.
- Which region has the highest market share in the market?
Asia-Pacific holds the highest
share in the market by value. A few of the main factors propelling
the Asia-Pacific market are the
existence of several domestic and foreign companies, the
accessibility of resources, technological advancements, and the
spike in demand for packaging products in the medical
sector.
Some of the Key Market Players Are:
- AVIENT CORP.
- BASF SE
- CELANESE CORP.
- EASTMAN CHEMICAL CO.
- ENSINGER
- EVONIK INDUSTRIES AG
- EXXON MOBIL CORP.
- HMC POLYMERS CO. LTD.
- NESTE
- SABIC
- SUMITOMO CHEMICAL CO. LTD.
- TEIJIN LTD.
- TORAY INDUSTRIES INC.
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touch with info@bccresearch.com.
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