The report "Medical Packaging Films Market by Material (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyamide), Type (Thermoformable Film, High Barrier Film, Metallized Film), Application (Bags, Tubes), and Region - Global Forecast to 2028", size is estimated to be USD 7.8 billion in 2023, and it is projected to reach USD 10.4 billion by 2028 at a CAGR of 6.0%.
Browse 362 market data Tables and 48 Figures spread through 279 Pages and in-depth TOC on "Medical Packaging Films Market by Material (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyamide), Type (Thermoformable Film, High Barrier Film, Metallized Film), Application (Bags, Tubes), and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/medical-packaging-films-market-210170372.html
Rising population, improving living standards, increasing industrialization, rising awareness for health, and rising urbanization led to an increase in demand from healthcare facilities, which drives the market of Medical packaging films during the forecast period. Apart from this, technological advancements and increasing awareness towards sustainability also help in driving the market of Medical packaging films during the forecast period. The fluctuation in the prices of raw materials is becoming the main restraining factor in this market. However, growing opportunities in emerging economies and the development of eco-friendly packaging provide lucrative opportunities for medical packaging films producers. Stringent government rules & regulations are the major challenge of this market.
By Material, Polypropylene accounted for the second-largest share in 2022
During the forecast period, the polypropylene (PP) segment within the medical packaging film market is anticipated to experience the most substantial compound annual growth rate (CAGR) in terms of value. Polypropylene, commonly known as PP, is an economical thermoplastic material celebrated for its remarkable characteristics, including high transparency, a glossy finish, and enhanced tensile strength. It boasts a higher melting point compared to polyethylene (PE), making it exceptionally well-suited for applications that demand sterilization at elevated temperatures. Additionally, the ability of PP to be metalized further enhances its gas barrier properties, proving valuable in applications where extending product shelf life is a paramount concern.
By Type, Thermoformable Film accounted for the largest share in 2022.
Thermoformable film is a type of flexible packaging material that becomes pliable and moldable when exposed to heat. It offers a versatile and cost-effective solution for packaging various products, and its ability to provide customized protection makes it a popular choice across multiple industries. It provides solutions that meet the specific needs of the healthcare and pharmaceutical industries, ensuring the safety, sterility, and convenience of medical products.
By Application, Bags accounted for the largest share in 2022.
The healthcare industry is expected to witness a growing demand for medical packaging films. This trend is driven by the continued preference for plastic films in the production of medical bags. Plastic films offer advantages such as extended shelf life, reduced susceptibility to bacterial contamination, resistance to breakage, and more convenient shipping when compared to glass bottles. Medical bags find extensive application in both the medical and pharmaceutical sectors, especially when cost-effective packaging solutions are needed in substantial quantities.
Asia Pacific is the fastest-growing market for the Medical packaging films market
The Asia-Pacific region is poised to take the lead in the medical packaging market, both in terms of value and volume, from 2023 to 2028. This growth is underpinned by the rising consumer awareness of sustainable packaging and the robust industrial foundation within the region. The European market for medical packaging films is also expected to experience favorable growth, in harmony with the regional economic development and the escalating domestic demand for medical devices and products. Furthermore, the growing public consciousness regarding the reduction of packaging waste is anticipated to be a driving force in propelling the medical packaging film market within the region.
The Medical packaging films chemicals market comprises major players such Amcor Plc (Switzerland), Berry Global Inc. (US), DuPont de Nemours Inc. (US), RENOLIT SE (Germany), Weigao Group (China), Sealed Air Corporation (US), Covestro AG (Germany), 3M (US), Toppan, Inc. (Japan), Wipak (Finland), and Mitsubishi Chemical Corporation (Japan). Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the medical packaging films market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441