Medical Flexible Packaging Industry Overview
The global medical flexible packaging market size is expected to reach USD 26.3 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.5% from 2021 to 2028. Increasing demand for pharmaceutical products in emerging economies as well as growing demand for drug delivery systems in developed countries are driving the growth of the market. The use of flexible packaging is increasing in the healthcare industry as the companies operating in the industry are opting for sustainable functions and materials, such as paper. Paper-based packaging is included in green packaging as it is highly recyclable and economical.
The flexible packaging is well suitable for single-time use. This is especially beneficial in the packaging of single-use products, which are becoming increasingly popular to avoid the risk of cross-contamination. The products can be sterilized along with the packaging, which has reduced the chance of contamination while manufacturing the products.
Medical Flexible Packaging Market Segmentation
Grand View Research has segmented the global medical flexible packaging market on the basis of material, product, end-use, and region:
Based on the Material Insights, the market is segmented into Plastics, Paper, Aluminum, and Bioplastics
- The plastics segment led the market and accounted for more than 74% share of the global revenue in 2020. Plastics offer a wide variety of options and higher tensile strength than their metal counterparts, which is expected to drive the segment growth over the forecast period.
- Paper material segment is estimated to register the fastest CAGR from 2021 to 2028. Innovations in the paper industry and the development of eco-friendly paper are expected to drive the segment over the forecast period.
Based on the Product Insights, the market is segmented into Seals, High Barrier Films, Wraps, Pouches & Bags, Lids & Labels, and Others
- The pouches & bags segment led the market and accounted for more than 35% share of the global revenue in 2020. Pouches & bags are used for packaging a wide range of medical products.
- The high-barrier films segment is estimated to register the fastest CAGR from 2021 to 2028.
Based on the End-use Insights, the market is segmented into Pharmaceutical Manufacturing, Medical Device Manufacturing, Implant Manufacturing, Contract Packaging, and Clinics
- The pharmaceutical manufacturing segment accounted for the largest revenue share of more than 29% in 2020.
- Medical device manufacturing is the second-largest end-use segment as the product demand in this segment has spiked especially after the pandemic.
- Contract packaging is projected to be the fastest-growing end-use segment from 2021 to 2028.
Medical Flexible Packaging Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Major companies exhibit strong control over the entire value chain. Companies in the market have been exploring data services and other allied businesses to attract more customers. The diversification strategy aimed at providing data services along with the current portfolio of products is expected to increase the market competition.
Some prominent players in the global Medical Flexible Packaging market include:
- Bemis Company, Inc.
- WestRock, Aptar, Inc.
- Dätwyler Holding, Inc.
- Becton, Dickinson & Company
- Berry Global
- Catalent Pharma Solutions
- Coveris S.A.
- Winpak Ltd.
- Sealed Air
- Amcor
- Mondi
- Huhtamäki Oyj
- CCL Industries, Inc.
- Gerresheimer
Order a free sample PDF of the Medical Flexible Packaging Market Intelligence Study, published by Grand View Research.
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