Gmi Research's blog : Medical Flexible Packaging Market size, share & trends 2028
The Medical Flexible Packaging Market is estimated to grow at a faster CAGR over the forecast period (2021-2028).
The factors driving growth of the includes emerging trend of contract manufacturing, increasing application of flexible packaging solutions in medical and pharmaceutical industries, expansion of the healthcare sector, rising use of drug delivery systems around the world and improvements in the living standards. In addition, Flexible packaging solutions are lightweight, available in different varieties, protects medical equipment from biological contamination and material damage, are some of the features pushing the market growth. Moreover, increase in Government’s expenditure on enhancing the medical infrastructure, rising investments by major companies on research and development, strategic partnerships and collaborations between enterprises and growing adoption of advanced technologies, are further contributing towards the market growth.
However, growth of the Medical Flexible Packaging Market is hindered due to variations in the prices of raw materials.
The top companies competing in the industry are Berry Global, Inc., Dickinson & Company, CCL Industries, Inc., and Catalent, Inc. among others include AptarGroup Inc., Dätwyler Holding Inc., Becton, Coveris, Winpak Ltd., Sealed Air Corp., and Amcor Plc.
Based on Product, the High Barrier Films segment is predicted to grow at a significant CAGR during the forecast period
High barrier films prevent water, light and oxygen from entering products packaging and provides enhanced heat tolerance, are pushing segment’s growth.
Based on End-Use, the Pharmaceutical Manufacturing segment is projected to grow at a robust CAGR over the forecast period
Flexible packaging solutions are increasingly used in pharmaceutical sector because they are easy to use, and provides protection from contamination and environmental conditions, are propelling growth of the segment.
Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period
Rise in Government’s spending on the healthcare sector, growing awareness amongst end-users about the benefits of flexible packaging solutions, expansion of the pharmaceutical industry, rapid urbanization and high per capita incomes, are some of the important factors augmenting the market growth in North America.
- In 2020, Amcor acquired Bemis Company Inc., and the combined company will now operate as Amcor Plc (Amcor). The acquisition of Bemis is expected to bring additional scale, capabilities, and footprint in strengthening Amcor’s packaging business for industries including pharmaceutical and medical through a range of flexible and rigid packaging and services.
Segmentation by Material
- Polyvinyl Chloride
- Polyethylene Terephthalate
Segmentation by Product
- High Barrier Films
- Pouches & Bags
- Lids & Labels
Segmentation by End-Use
- Pharmaceutical Manufacturing
- Medical Device Manufacturing
- Implant Manufacturing
- Contract Packaging
Segmentation by Region
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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