Global plastic healthcare packaging market is expected to flourish at a significant CAGR of 7.0% during the forecast period. Moreover, the global plastic healthcare packaging market is expected to garner significant revenue by the end of 2024.
“Plastic Healthcare Packaging Market: Global Demand Analysis & Opportunity Outlook 2024”
The global plastic healthcare packaging market is segmented into industries such as pharmaceutical and medical device. Among these segments, pharmaceutical segment is expected to occupy top position in overall plastic healthcare packaging market during the forecast period.
Rising penetration of diseases and increasing demand for drugs is anticipated to foster the growth of the plastic healthcare packaging market. However, medical device packaging segment is projected to showcase highest CAGR during the forecast period.
Factors such as high utilization of plastic in healthcare product packaging and cost- effectiveness are anticipated to fuel the demand for plastic healthcare packaging in the next few years.
North America accounted for the highest percentage of market share in overall plastic healthcare packaging market in 2016. Further, North America is anticipated to continue its dominance during the forecast period owing to the presence of robust healthcare industry in the region.
Moreover, high expenditure on the healthcare is expected to positively impact the demand for plastic healthcare packaging in the upcoming years. Asia Pacific market is anticipated to witness robust growth during the forecast period.
This can be attributed to tremendous growth of healthcare in the region. Moreover, favorable government initiatives are anticipated to drive the healthcare market at tremendous pace which further, is expected to positively impact the demand for plastic healthcare packaging.
Growth in Healthcare Industry
Robust growth of healthcare industry in developing and developed nations is anticipated to fuel the demand for plastic healthcare packaging in the upcoming years. Moreover, development of healthcare infrastructure in the growing regions such as Asia Pacific is anticipated to accelerate the growth of plastic healthcare packaging market.
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Technological Advancements and Developments
Recent technological development in plastic healthcare packaging such as integration of real time and smart sensors is propelling the demand for plastic healthcare packaging market. Moreover, increasing adoption of technological and innovative advanced plastic healthcare packaging solutions is anticipated to foster the growth of the plastic healthcare packaging market during the forecast period.
Although, fluctuation in the price of raw material is likely to dampen the growth of plastic healthcare packaging market during the forecast period.
The report titled “Plastic Healthcare Packaging Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global plastic healthcare packaging market in terms of market segmentation by industries, by end market, by packaging type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global plastic healthcare packaging market which includes company profiling of Aphena Pharma Solutions Inc., Tekni-Films, Catalent Pharma Solutions, James Alexander Corporation, Aptar Group Inc., Barger Packaging, Cardinal Health, Inc., Global Closure Systems, Nypro Packaging and Sonoco Products Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global plastic healthcare packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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