NEW YORK, Aug. 17, 2020 /PRNewswire/ -- Report Scope:
This study covers many of the most important economic, technological, regulatory and environmental considerations in markets for the use of plastics to package healthcare products. This report is a global study of activities within the healthcare packaging market.
Read the full report: https://www.reportlinker.com/p05952886/?utm_source=PRN
All market volume figures are rounded to the nearest million pounds.Growth rates are compound average annual growth rates (CAGR).
Growth rates are rounded to the tenth of a percent.
Some relatively minor resin materials and applications are grouped together in a miscellaneous category but are specifically noted.
A wide variety of terms in this market are used almost interchangeably, which often makes it difficult to specifically segment several products used in healthcare packaging because, in many cases, they are multifunctional, such as -
- Trays vs. kits.
- Pouches vs. bags.
- Closures vs. caps.
- Containers vs. bottles.
- Closures vs. lidding.
Note that because some readers purchase only certain sections of this report and not the complete report, there are often times when there is a need to review some preliminary but important background details several times.
Report Includes:
- 61 data tables and 19 additional tables
- An overview of the global markets for plastics used in the packaging of healthcare products
- Analyses of the global market trends, with data corresponding to market size for 2019, estimates for 2020, and projections of compound annual growth rates (CAGRs) through 2025
- Latest information on market growth drivers, opportunities and challenges, industry supply chain structure, regulatory and environmental updates, macroeconomic trends, and technological advancements that are affecting the overall marketplace
- Assessment of market potential for plastics used in healthcare packaging, their corresponding market share analysis, revenue forecast in dollar value terms, volume shipments in number units and correlated growth rates
- Identification of the technical as well as other non-technical challenges that must be prevailed over for the market to realize its full potential
- A brief general outlook of the healthcare industry, assessment of COVID-19 impact on the global marketplace, packaging plastics approval process and factors affecting choices of healthcare packaging materials
- Company profiles of market leading organizations, including Almac Group, Catalent Inc., Klöckner Pentaplast, McKesson Corp., Perlen, Tekni-Plex and Winpak Ltd.
Summary:
The global market for plastics for healthcare packaging demand stood at REDACTED in 2019 and is expected to reach REDACTED by 2025. The global market is anticipated to grow at a CAGR REDACTED over the forecast period.
Plastics are one of the major raw materials used in the pharmaceutical and medical industries.Numerous medical products and packaging products are derived f rom plastic resins such as polypropylene, polyethylene and polyvinyl chloride.
Plastic resins' unique properties, such as light weight, durability, transparency and competitive cost, support plastic packaging demand in the healthcare industry.Plastic-enabled packaging innovations support medical products by protecting the product from external damages and guarding against contamination.
Owing to these factors, plastics have become an integral part of the healthcare industry and will continue to be that way in the coming years.
The growth of the global market for plastics for healthcare packaging market is impacted by several factors such as increased use of disposable products, an aging population in the U.S. and Europe, continuing cost pressures on suppliers, increasing influence of hospital and healthcare-related purchasing groups, continued shift to outside contract packaging, an emphasis on child-resistant/seniorfriendly and tamper-evident packaging, increases in unit-dose packaging, increases in injectable therapies, higher volumes of turn/twist caps, and more minimally invasive procedures. These factors are projected to drive innovations in the plastics healthcare packaging market over the forecast period.
The global plastics for healthcare packaging market is categorized into resin type, application and region.By resin type, the market is categorized into polypropylene, PVC, HDPE, LDPE/LLDPE, polyesters, polystyrenes and others.
In this segment, polypropylene accounted for the largest share at REDACTED in 2019 followed by PVC at REDACTED.
By application, the major plastic healthcare packaging products are segmented into two groups: medical and pharmaceutical.The former includes syringes, tubing, kits, intravenous (IV) bags, other bags and parts, trays and a miscellaneous group.
Pharmaceutical packaging products are made up of containers (mostly bottles and vials), closures (caps, lids, etc.), blister packaging and a miscellaneous category that includes other bags, pouches, etc. In the pharmaceutical segment, containers accounted for highest share at REDACTED in 2019, whereas blister packaging is projected to witness the highest growth with a CAGR of REDACTED over the forecast period. In the medical segment, tubing, syringes and kits are the leading healthcare packaging applications, accounting for REDACTED of total plastic volume in 2019.
In terms of region, the U.S. and Europe still dominate the global plastic for healthcare packaging market. These regions are expected to be major market through 2025 as these areas had a huge head start and maintain vibrant R&D programs in healthcare packaging. The impact of offshore activities is expected to challenge this market in the next decade.
The Asia-Pacific region is anticipated to continue its dominance with growing demand from China and India. Shifting manufacturing bases across Asia-Pacific region will also boost demand along with the rise of several domestic players in the Asia-Pacific market.
Read the full report: https://www.reportlinker.com/p05952886/?utm_source=PRN
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