The global plastic healthcare packaging market size reached US$ 24.8 billion in 2023 and is projected to hit around US$ 40.51 billion by 2033, expanding at a CAGR of 5.03% during the forecast period from 2024 to 2033.
Download Statistical Data: https://www.towardspackaging.com/download-statistics/5214
The key players operating in the healthcare sector are influenced by the benefits offered by the plastic packaging, which has risen the demand for the plastic healthcare packaging and is estimated to drive the growth of the plastic healthcare packaging market over the forecast period.
Key Takeaways
- North America dominated the plastic healthcare packaging market in 2023.
- Asia Pacific is expected to grow at a significant rate in the market during the forecast period.
- By product type, the bottles segment dominated the market with the largest share in 2023.
- By material type, the polyethylene segment is expected to grow at significant rate during the forecast period.
- By application, the pharmaceuticals segment dominated the market in 2023.
Market Overview
The science, art, and technology of enclosing or safeguarding goods for use, sale, distribution, and storage is known as packaging. Packaging also includes the process of creating, assessing, and designing packages. The affordable means of supplying presentation, protection, identity, information, convenience, compliance, integrity, and stability of the product is known as pharmaceutical packaging. The selection of materials used in pharmaceutical packaging is essential to ensuring the integrity, safety, and sustainability of the product for the environment.
The packaging is mainly divided into three types, primary packaging, secondary packaging and tertiary packaging. The material that first encloses and holds the product is known as primary packaging. This is typically the distribution or use unit that is the smallest; example a bottle, blister packs, and aerosol spray can. Outside of the primary packaging, secondary packaging may be used to bundle primary packages together.
Plastic bottles made of polyethylene terephthalate (PET) are becoming more and more popular as the industry’s preferred packaging option. It is crucial to guarantee the safety and adherence of pharmaceutical packaging. Polyethylene Terephthalate (PET) plastic bottles adhere to the strict quality standards and legal criteria established by organizations such as the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA). The global packaging market size is estimated to grow from USD 1.20 trillion in 2022 to reach an estimated USD 1.58 trillion by 2032, growing at a 3.16% CAGR between 2023 and 2032.
Growth Factors
- Expansion of the healthcare services can foster the growth of the plastic healthcare packaging market in the near future.
- Emerging markets and trends for medical packaging films is expected to drive the growth of the market over the forecast period.
- Increasing regulatory support is estimated to drive the growth of the market over the forecast period.
- Increasing focus on cost reduction and production efficiency can drive the specialty market growth further.
- Increasing in adoption of the advanced technology for the production of medical packaging films and vials is estimated to drive the growth of the global plastic healthcare packaging market in the near future.
- Increasing launch of the new policy by the government to support pharmaceutical packaging and monitoring solution is expected to drive the growth of the market over the forecast period.
- The key players operating in the market are focused on geographic expansion and launching their brand in other countries which is expected to drive the growth of the plastic healthcare packaging market in the near future.
Market Opportunity
Integration of the software to develop innovative packaging solution and monitoring packaging equipment
Easy-to-use package alternatives that enhance medication adherence are precisely modern patients seek. Market research indicates that single-dose packaging, child-resistant closures, and easy-to-open features are becoming more and more common. Personalized packaging that has precise directions and dosing information is also growing in popularity. This development is being driven by an increase in occurrences of chronic illnesses and an aging population. In an attempt to boost efficiency and enhance patient safety, the healthcare industry is implementing smart packaging. The latest packaging technologies include sensors and extra functionalities to oversee product quality, measure temperature and humidity, and provide instantaneous data for enhanced supply chain management.
For instance,
- In May 2024, Trelleborg Medical Solutions, engineers innovative solutions providing company, unveiled the introduction of Innovation Center in Minnesota, US. A newly launhced single center for design, quick prototyping, development, and serial manufacturing, it offers Trelleborg’s global healthcare and medical clients cost control and scalability of their solutions. It is an extension of the earlier quick Development Center.
Global Support for Reducing Plastic Production and Promoting Reusable Alternatives
A recent expert survey reveals strong global support for cutting plastic production and addressing plastic pollution. Conducted across 19 countries, the survey highlights a significant public consensus on the need to tackle plastic waste and prioritize sustainable solutions.
Key insights from the survey include:
- 82% of participants advocate for reducing plastic production to combat plastic pollution.
- 80% support efforts to protect biodiversity and combat climate change through decreased plastic production.
- 90% endorse moving away from single-use plastic packaging in favor of reusable and refillable alternatives.
- 75% back a ban on single-use plastic packaging.
- 80% of respondents are concerned about the health impacts of plastic on their loved ones, with 84% of parents expressing particular concern about the effects on their children.
The survey underscores a clear global demand for stronger measures to reduce plastic use and promote more sustainable packaging solutions.
Buy Premium Global Insight: https://www.towardspackaging.com/price/5214
Get the latest insights on packaging industry segmentation with our Annual Membership – https://www.towardspackaging.com/get-an-annual-membership
If you have any questions, please feel free to contact us at sales@towardspackaging.com
About Us
Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
Browse our Brand-New Journal:
https://www.towardshealthcare.com
https://www.towardsautomotive.com
For Latest Update Follow Us: https://www.linkedin.com/company/towards-packaging/
Get Our Freshly Printed Chronicle: https://www.packagingwebwire.com/