The global medical flexible packaging market size reached US$ 26.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 39.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.05% during 2023-2028.
Flexible packaging protects products from moisture, ultraviolet (UV) rays, mold, dust, and other environmental contaminants while maintaining their quality and extending their shelf life. It is made using flexible materials, such as foil, plastics and papers, and widely available in pouches, bags and other formats. It requires less base material, which reduces production time and energy consumption, as compared to rigid packaging. Additionally, as it is lightweight, easy to dispose of, and requires less raw material during manufacturing, flexible packaging is extensively used by pharmaceutical companies around the world for the packaging of medicines and medical products and supplies.
Medical Flexible Packaging Market Trends:
At present, there is a rise in the need for reducing the overall packaging weight among pharmaceutical manufacturers, which represents one of the key factors driving the market. Apart from this, there is an increase in the utilization of disposable medical products to reduce the risk of surgical site infections and cross-contamination among patients as well as healthcare professionals. This, along with rising innovations in producing eco-friendly materials for packaging, is propelling the growth of the market. Additionally, rising environmental concerns and health issues among individuals due to the collection of non-biodegradable wastes worldwide are impelling the growth of the market. Besides this, the growing advancements in extrusion technology are positively influencing the sales of medical flexible packaging across the globe. Furthermore, the rising employment of biaxially-oriented polyethylene terephthalate (BOPET) and polyvinylidene chloride (PVDC) barrier films is stimulating the market growth. Some of the other growth-inducing factors are effective supply chain management, increasing efficiency in transportation of goods and rising health and hygiene values among the masses.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global medical flexible packaging market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material, product and end user.
Breakup by Material:
- Plastics
- Polyvinyl Chloride
- Polypropylene
- Polyethylene Terephthalate
- Polyethylene
- Others
- Paper
- Aluminum
- Bioplastics
Breakup by Product:
- Pouches and Bags
- Seals
- High Barrier Films
- Wraps
- Lids and Labels
- Others
Breakup by End User:
- Pharmaceutical Manufacturing
- Medical Device Manufacturing
- Implant Manufacturing
- Contract Packaging
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Amcor plc, Becton Dickinson and Company, Berry Global Inc., Catalent Inc., CCL Industries Inc., Coveris, Huhtam?ki Oyj, Mondi plc, Sealed Air Corporation, Sonoco Products Company, WestRock Company and Winpak Ltd.
Key Questions Answered in This Report
- What was the size of the global medical flexible packaging market in 2022?
- What is the expected growth rate of the global medical flexible packaging market during 2023-2028?
- What has been the impact of COVID-19 on the global medical flexible packaging market?
- What are the key factors driving the global medical flexible packaging market?
- What is the breakup of the global medical flexible packaging market based on the material?
- What is the breakup of the global medical flexible packaging market based on the product?
- What are the key regions in the global medical flexible packaging market?
- Who are the key players/companies in the global medical flexible packaging market?
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