Plastic healthcare packaging to reach USD87.3bn
Allied Market Research believes that the global market for plastic healthcare packaging will reach USD87.3 billion in 2022.
Increase in demand for healthcare practices promotes the growth for healthcare packaging market. Developed countries are engaged in development of healthcare services that increase the investment on healthcare packaging.
Increase in counterfeiting practice in pharmaceutical industries is affecting the growth of plastic healthcare packaging market. However, Asian countries are highly affected by counterfeiting of pharmaceutical products, especially in non-prescribed drugs.
The healthcare packaging market is constantly challenged by shifting trends such as the increased use of disposable medical products, an ageing population, outsourcing packaging, child-resistant and tamper-evident packaging. In order to overcome on the challenges of counterfeiting U.S. government passed the Track and Trace Bill under which Drug Quality and Security Act (DQSA) has been issued. DQSA act implemented electronic tracking for food and pharmaceutical packaging.
Key companies involved in this business include Sealed Air Corporation, Tekni-Films, Inc., United Drug Plc, Vetter Pharma International, Aphena Pharma Solutions, Beacon Converters, Inc., Bilcare Research, Catalent Pharma Solutions, Constantia Flexibles and others.
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