Featuring Performance and Functionality, Plastic makes Strides to Revolutionize Healthcare Packaging
Healthcare packaging market provides solutions for secure and safe transportation of medical supplies and products. Segments in the market include pharmaceuticals, medical supplies, medical and healthcare equipment, and biological materials. Increasing global demand for medical devices, disposable medical supplies, and pharmaceutical products in anticipated to further the growing healthcare packaging market. Infiltration of counterfeit medical products remains a huge challenge for the global healthcare and pharmaceutical industries. Players in the healthcare packaging market are developing innovative and technology-enabled solutions to stop these instances. Integration of bar code and RFID technology in healthcare packaging is one of the key practices that can help consumers identify authentic products from their counterfeited counterparts.
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Enhanced performance and functionality provided by plastic packaging is the key factor behind the increasing adoption of the material in healthcare packaging market. Plastics are available in diverse forms and types. Some of the most commonly used plastics in the market include Polyethylene, Polypropylene, Polyamide, Polyvinyl Chloride, Polyurethane, and Polystyrene. They enjoy high demand owing to their flexible physical properties. However, growing intolerance towards using plastics, owing to their harmful impact on the environment, can propel the need for alternative yet equally flexible packaging materials. Paper and paperboard materials can prove to be a solution for players and manufacturers in the market in coming years.
Players Engaged in Expansion Activities to Explore Different Regional Healthcare Packaging Markets
‘Expansion through acquisition’ is observed to be the key strategy implemented by leading players and manufacturers in global healthcare packaging market. For example, flexible packaging business of MGM was acquired by Sealed Air Corporation in February 2019, as their move for expansion in Asia Pacific market. The market witnesses a highly fragmented competitive landscape, with high initial capital cost and adoption of emerging trends as barriers for new players entering the market. Some of the key incumbent players in healthcare packaging market include 3M Company Amcor Limited, Ball Corporation, Constantia Flexibles Group GmbH, Sealed Air Corporation, Klockner Pentaplast Europe GmbH & Co. KG, Sonoco Products Company, Honeywell International, and Avery Dennison Corporation.
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