The global healthcare packaging market is anticipated to expand at a steady compound annual growth rate (CAGR), owing to the growth of the parent industry. The healthcare sector is receiving enhanced focus around the globe, especially in developing countries, where decades of economic development has helped governments to invest in revamping healthcare facilities.
Growing use of plastic in healthcare packaging can be largely attributed to the innovation in the use of making plastics. The combination of plastic technology and use of sensors and other smart equipment in healthcare packaging is expected to boost the overall safety and security of medicines, vaccines, syringes, etc.
In addition the macro-economic trend, the packaging industry itself is moving to next-generation, with smart sensors and real-time tracking paving the way for adoption advanced plastic packaging solutions.
Plastics will continue to be the sought-after packaging product in the healthcare sector, owing to their cost-effectiveness and sturdiness. Mass production of plastic packaging materials offers substantial cost advantages to manufacturers, making plastic a preferred material for packaging of syringes, intravenous bags, trays, etc.
The global healthcare plastic packaging market can be broadly categorised into medical devices and pharmaceutical. On the basis of end-use, the healthcare plastic packaging market can be classified into topical, transdermal, injectable, pulmonary, and IV drugs.
North America Most Lucrative Region for Plastic Packaging in Healthcare
Region-wise, North America is the largest market for plastic packaging in the healthcare sector. The U.S. is one of the dominant regions in the healthcare plastic packaging market, and it is anticipated to remain so in the future as well. Overall, the North America healthcare plastic packaging market is anticipated to expand at a steady growth rate in the next decade.
Of particular interest to global players is the Asia Pacific, with its fastest growing economies, such as China and India expected to offer a plethora of opportunities. In the last decade or so, these countries have emerged as popular hubs of medical tourism, fuelled by strong investment in the healthcare sector.
In addition to India and China, countries in Latin America are expected to offer growth opportunities to key players in healthcare plastic packaging market. Brazil is evolving as a lucrative healthcare centre in Latin America, and it’s expected that in the next decade, the healthcare plastic packaging sector will witness favourable growth rates.
The information presented in this article is based on the report, “Plastic Healthcare Packaging Market: Global Industry Analysis and Opportunity Assessment 2015-2025.” A free sample of the report can be accessed at http://www.futuremarketinsights.com/reports/sample/rep-gb-1127
The healthcare plastic packaging market, especially in GCC, is expected to expand at a healthy CAGR, owing to the rising foreign investment in the region. Countries in the GCC region have high GDP per capita and the healthcare plastic packaging market in the region is expected to increase at a healthy rate in the future.
The leading players in the healthcare plastic packaging market include Aphena Pharma Solutions, Beacon Converters Inc., United Drug Plc, Tekni-Films Inc., Sealed Air Corporation, Catalent Pharma Solutions, and Vetter Pharma International.