Plastic Medical Packaging Market Size, Share, Growth, And Industry Analysis, By Type (Flexible Packaging and Rigid Packaging) by Application (Pharmaceutical, Medical Devices, Hospital Supplies and Others), Regional Insights, and Forecast To 2032

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Plastic Medical Packaging Market Report Overview

Global plastic medical packaging market size is estimated at USD 21.6 billion in 2024 and market is expected to reach USD 34.95 billion by 2032, CAGR of 6.2% during the forecast period. Asia-Pacific is dominating the plastic medical packaging market share in 2024.

Medical packaging is a method of securing healthcare items that is created in accordance with the special specifications and sterilising needs of medical products in order to maintain their integrity while complying to medical standards. Given its important qualities, such as durability and leak resistance, plastic containers are often utilised as healthcare packaging items. For the purpose of wrapping pharmaceutical items such as pharmaceuticals, equipment, and instruments, plastic healthcare packaging is employed. Healthcare items must be stored and protected from biological contamination, material deterioration, and negative external influences. Plastic packaging made from high-density polystyrene polyethylene, polyvinyl chloride, or polypropylene is used to package sterile goods before being further gas-impermeable. Several codes are used to assure the quality of the packaging material, including the pharmaceutical packaging materials standard and the quality management standard (IS09000) (PS09000). Additionally, there are three different forms of packaging based on the type of material used: main packaging, secondary packaging, and tertiary packaging.

The introduction of several sophisticated medical devices that need specialised packaging, technological advancements in the medical device industry, and the rising demand for creative packaging solutions as a result of increased global production and supply of medical devices, medications, and drugs all contribute to the plastic medical packaging market growth. Moreover, expenditure on healthcare services has increased. Growing health consciousness also contributes to the plastic medical packaging market growth. However, governments all over the world have set rigorous laws and restrictions, which has hampered the expansion of the global industry. The demand for sterile packed items that are tamper-proof, nonreactive, and have exceptional performance and a low total cost of ownership is also driving technical developments in the plastic medical packaging market significant prospects for market expansion as a result.

COVID-19 Impact: Pandemic Resulted into Mixed Effect on the Business

Drug trials for numerous chronic illnesses, including cancer, have decreased as a result of the new coronavirus pandemic globally. Aside from the logistical difficulties, a number of clinical trials have been put on hold or have been given lower priority in favour of COVID-19 therapy. These elements might have hampered the business recently by interfering with the process of creating new drugs. Despite these difficulties, the impressive spike in syringe and vial development during the race to produce a vaccine against COVID-19 may boost plastic medical packaging market recovery in the near future. As a result of the COVID-19 outbreak, consumers' buying behaviours have altered since they are now more concerned about choosing packaging that is safe and hygienic. The effect of COVID-19 on the plastic medical packaging is mixed because there is still a significant need for medical packaging, but manufacturers are having trouble balancing supply and demand because there aren't enough workers, raw materials, or storage facilities due to the global shutdown.

Latest Trends

"Artificial Intelligence Deployment to Change the Future of Drug Development"

The substantial integration of AI technology in the drug development process is one of the main trends defining the plastic medical packaging market projection for 2022–2031. For instance, in April 2021, Evotec began the Phase I clinical trials of their brand-new anticancer drug. This chemical was developed in conjunction with Exscientia, a company that searches for small compounds that might be used as medications using AI techniques. The medication development process may be sped up by this increased reliance on cutting-edge technologies, which would increase the need for plastics in pharmaceutical packaging. The popularity of the product will also increase as more people become aware of the advantages of flexible medical packaging, such as its resilience to sterilising chemicals like ethylene oxide and gamma radiation. In the years to come, however, industrial dynamics may be hampered by worries about plastic pollution and the implementation of numerous strict regulations against the use of single-use plastics.

Plastic Medical Packaging Market SEGMENTATION

• By type

Depending on plastic medical packaging market given are types: Flexible Packaging and Rigid Packaging. The flexible packaging type will capture the maximum market share through upcomming years.

• By Application

The market is divided in pharmaceutical, medical devices, hospital supplies and others based on application. The global plastic medical packaging market players in cover segment like pharmaceutical will dominate the market share during forecast period.

Driving Factors

"Pharmaceutical Packaging Businesses to Research and Develop Child-Resistant Packaging Alternatives "

Plastic medical packaging innovations continue to catch the attention of the healthcare sectors despite the unwanted pause caused by the COVID-19 pandemic in a variety of economic operations. Pharmaceutical packaging businesses in the healthcare packaging sector are always engaged in R&D to develop innovations that will help them meet the difficulties of creating packaging that is both child- and senior-friendly. To enhance their functioning, these businesses are expanding the selection of packaging in on-the-go convenience and anti-counterfeiting solutions. By 2029, the plastic medical packaging market size is anticipated to expand. Thermoformed packaging, which is marketed as a low-cost option for pharmaceutical packaging, is now available from manufacturers in a variety of forms and patterns. They are expanding their capacity for producing medicinal items in choices for reclosable packaging.

"Strong, Resilient Packaging Solutions that can Handle Shock and Temperature Changes to Promote Market Growth"

Packaging for the medical and healthcare industries is in high demand. plastic medical packaging manufacturers are increasing the amount of packaging they can produce that shields its contents against shock, temperature changes, puncture, and bursting. They are developing new packaging that complies with requirements and can resist usage, sterilisation, and transportation. Manufacturers in the plastic medical packaging market are expanding the selection of package styles that help patients adhere to a treatment regiment better and, as a result, enhance medical outcomes. This is being accomplished by imposing stringent regulatory oversight and usage guidelines on the healthcare packaging sector. Consumer desire for packaging that is simple to use, dispose of, and open is rising. In order to reduce environmental waste and create a circular economy, this has highlighted the need for smart and sustainable packaging.

Restraining Factors

"Difficulties In the Regulatory, Economic, And Global Spheres are Accelerating and Limiting Market Expansion"

Although the market is expanding, it is being hampered by restrictive legislation, globalisation, and other economic factors. It could be challenging for manufacturers to design and implement better practises for labels that are constantly changing as well as for new regulatory frameworks for information and anti-counterfeiting. Plastic medical packaging market always experience downward pricing pressure as a result of a number of societal and economic factors. Packaging companies are collaborating with physicians to increase their grasp of the regulatory, economic, and globalisation restrictions in order to strengthen their R&D capabilities and develop solutions to difficulties. The packaging business benefits from the expertise of doctors and their desire to enhance patient outcomes.

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Plastic Medical Packaging Market Regional Insights

"Asia-Pacific to Mark the Highest CAGR During the Forecasted Years "

The largest regional market in 2020 was Asia Pacific, with the highest market share recorded. The fastest CAGR is expected to occur between 2022 and 2028 as a consequence of the rise in product demand from emerging markets like China and India. Both the developing plastic medical packaging market and growing per capita income are predicted to boost plastic medical packaging market share. Contract manufacturing is expected to be a significant end-use sector in the region during the forecasted time period, offering medical flexible packaging manufacturers promising expansion opportunities in the years to come.

North America generated more than 22% of worldwide income in 2020. The primary variables influencing product demand in the North American region are an improved outlook for the economy and growing innovation in barrier materials. Furthermore, it is projected that the major presence of big companies like Amcor and Bemis would further support regional growth during the projection period. The increased usage of medicine delivery systems like IV bags and feeding bags is also driving up demand for the plastic medical packaging market share.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP Plastic Medical Packaging COMPANIES

• Amcor (U.S)
• Gerresheimer (Germany)
• ALPLA (Austria)
• Wihuri Group (Finland)
• Sealed Air (U.S)
• Berry Plastics (U.S)
• Constantia Flexibles (Austria)
• OLIVER (U.S)
• FUJIMORI (Japan)
• Rengo (Japan)
• Nelipak Healthcare (U.S)
• Coveris (U.K)
• Printpack (U.S)
• Sonoco (U.S)
• ACG (India)
• Southern Packaging (U.S)
• Prince New Material (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.