Wellesley, MA (PRWEB) August 21, 2013
According to a new technical market research report, PLASTICS FOR HEALTHCARE PACKAGING (PLS007E), from BCC Research (http://www.bccresearch.com), the global plastic healthcare packaging market was estimated in terms of volume at nearly 9.6 billion pounds in 2012 and is expected to surpass 10 billion pounds in 2013. The market is expected to reach more than 13 billion pounds in terms of volume by 2018, and register a compound annual growth rate (CAGR) of 5.6%.
Healthcare plastics find increased use each year in applications in healthcare packaging. In these changing times and in context of the emphasis on healthcare cost control, plastics are expected to increasing their penetration in healthcare packaging.
Until recently, most healthcare product markets grew unfettered by cost control. Only in recent years have cost containment efforts truly began to affect healthcare packaging and other markets within the healthcare industry. BCC Research has performed an in-depth analysis to understand how the market is reacting to these efforts and assessed its future growth in this new environment.
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.
According to BCC Research, containers, tubing, syringes and kits are the leading healthcare packaging applications, and account for about 65% of total plastic volume. BCC Research also broke down this market by resin type and found that the three largest segments by volume were Polypropylene, PVC, and high-density polyethylene (HDPE), in order of volume respectively. These three resin types are expected to grow at calculated annual growth rates (CAGRs) of 6.3%, 5.0%, and 5.1% respectively for the period 2013 through 2018.
As per BCC Research’s report, the healthcare packaging market will also be positively impacted by increased use of disposable products, an aging population in the U.S. and Europe, a continued shift to contract packaging, growing overseas markets, and the emphasis on child-resistant/senior-friendly and tamper-evident packaging.
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.
This new BCC Research report is intended for companies involved in the development, formulation, manufacture, sale, and use of plastics in healthcare packaging. This study will be of interest and value to those involved in polymer and polymer processes, from manufacture of bulk resins to converting and other plastics fabrication processes. The report should also be of major interest to healthcare end-user companies, contract packagers, and plastic producers. Companies and personnel in ancillary businesses such as processing equipment, additives, and other support chemicals and equipment will also find the information presented in this report useful.