“Global Plastic Healthcare Packaging Market to reach a market value of USD 35.32 Billion by 2031 growing at a CAGR of 5.0%”
The Global Plastic Healthcare Packaging Market size is expected to reach $35.32 billion by 2031, rising at a market growth of 5.0% CAGR during the forecast period.
The rising healthcare expenditure and the increasing trend toward using innovative packaging to ensure safety and convenience have driven the demand for plastic packaging in North America. The region’s strong regulatory framework and the presence of leading pharmaceutical and healthcare companies further contribute to its significant market share. Thus, in 2023, the North America region witnessed 39% revenue share in the market. The region’s dominance can be attributed to the well-established healthcare infrastructure, a high demand for pharmaceutical products, and advanced packaging solutions.
The pandemic led to a sharp increase in the demand for medical supplies, such as syringes, vaccines, and personal protective equipment (PPE), all of which required plastic packaging, boosting the market. Due to the heightened need for hygiene and infection control during COVID-19, there was a rise in the use of disposable plastic packaging for healthcare products, including medications and medical devices. Thus, the COVID-19 pandemic had a positive impact on the market.
The global rise in chronic diseases such as diabetes, hypertension, and heart disease are a key driver for the plastic healthcare packaging market. As the prevalence of these conditions continues to increase, there is a greater demand for ongoing medical treatments, including medications and therapies that require safe and efficient packaging. The healthcare industry’s ongoing expansion, driven by chronic disease treatment and management, significantly boosts demand for plastic healthcare packaging materials that effectively preserve and deliver these medical treatments.
Additionally, as patient safety becomes an increasingly critical focus within healthcare systems, there is a growing need for packaging that adheres to strict regulatory standards and ensures the safe delivery of pharmaceuticals. This growing emphasis on safety and regulatory compliance is expanding the demand for advanced plastic healthcare packaging solutions that meet evolving standards and safeguard patients and pharmaceutical companies.
However, the cost of raw materials used in plastic healthcare packaging, such as resins, additives, and petroleum-based products, has risen in recent years. This increase in raw material costs directly impacts plastic packaging's production costs, making it more expensive for manufacturers to produce packaging solutions. Thus, rising costs of raw materials for plastic healthcare packaging are hindering the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Based on industry, the market is divided into pharmaceutical packaging and medical device packing. The medical device packing segment held 30% revenue share in the market in 2023. Medical devices, including diagnostic tools, surgical instruments, and implants, require specialized packaging solutions to maintain sterility, functionality, and safety during storage and transport.
On the basis of product type, the market is segmented into bottles packaging, pouches, vials, and others. The bottles packaging segment recorded 38% revenue share in the market in 2023. Bottles are extensively used in the healthcare industry to package liquids such as oral medications, syrups, and supplements.
By material, the market is divided into polyethylene, polyethylene terephthalate, polypropylene, and others. In 2023, the polyethylene segment registered 38% revenue share in the market. Polyethylene is widely used in healthcare packaging due to its versatility, low cost, and excellent barrier properties. It is commonly found in bottles, pouches, and containers for pharmaceuticals, medical supplies, and personal care products.
Free Valuable Insights: Global Plastic Healthcare Packaging Market size to reach USD 35.32 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region generated 26% revenue share in the market in 2023. The region has grown substantially due to the increasing population, rising healthcare needs, and expanding pharmaceutical manufacturing industry.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 24.32 Billion |
| Market size forecast in 2031 | USD 35.32 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.0% from 2024 to 2031 |
| Number of Pages | 248 |
| Number of Tables | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Industry, Product Type, Material, Region |
| Country scope |
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| Companies Included | Amcor Plc, Sonoco Products Company, Gerresheimer AG, Huhtamaki Oyj, Mondi Plc, Berry Global Group, Inc., DuPont de Nemours, Inc., Schott AG (Carl-Zeiss-Stiftung), 3M Company, Avient Corporation |
By Industry
By Product Type
By Material
By Geography
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