Medical Flexible Packaging Market worth USD 23.0 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "Medical Flexible Packaging Market by Material (Plastics, Paper, Aluminum, and Others), by Product (Seals, High Barrier Films, Wraps, Pouches & Bags, Lids & Labels, and Others), by End-Use (Pharmaceutical Packaging, Medical Device Packaging, Implant Packaging, Contract Packaging, and Others), by Region – Global Share and Forecast to 2027". The global medical flexible packaging market is expected to grow USD 23.0 billion by 2027 from USD 15.8 billion in 2020, at a CAGR of 6.5% during the forecast period. Bioplastics are sustainable alternatives to conventional plastics, particularly in the flexible and rigid packaging industries, as they are fully or partially bio-based, compostable, or biodegradable. The carbon content in bioplastics is derived from renewable sources such as corn, sugarcane, algae, potatoes, bacteria, seashells, and starch. PLA and PHA are biodegradable, while bio-PE and bio-PET are not. However, the former is bio-sourced, broken down faster than petroleum-based plastics, and largely preferred over conventional plastics. The increased focus on environmental sustainability is a key driver for developing a flexible packaging market, which is expected to reduce the consumption of petroleum-based products and move toward bio-based alternatives.

Global Medical Flexible Packaging Market Segmentation

The overall medical flexible packaging market has been segmented into the material, products, end-use, and region.

• By Material (Plastics, Paper, Aluminum, and Others)
• By Product (Seals, High Barrier Films, Wraps, Pouches & Bags, Lids & Labels, and Others)
• By End-Use (Pharmaceutical Packaging, Medical Device Packaging, Implant Packaging, Contract Packaging, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

By product, pouches & bags are estimated to hold the largest market share during the forecast period

Based on product, the global medical flexible packaging market is segregated 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% of the market share globally in 2020. Amcor is the leading manufacturer and supplier of pouches and bags to the healthcare industry. Pouches and bags cater to various applications in the medical packaging sector. The development of barrier packaging and other specialized forms is expected to boost the demand for these products further.

North America and the Asia Pacific are the leading regions manufacturing pouches and bags. The demand in North America is driven by mature end-users and a growing number of medical device manufacturers. The demand in the Asia Pacific is driven by the presence of a large number of polymer manufacturers, along with a rise in medical expenditure in the region.

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The Asia Pacific accounts for the largest market share in the medical flexible packaging market 2020

Based on the regions, the global medical flexible packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific had the largest market in 2020 and accounted for the 57.0% of the market share in 2020. The packaging market in China will soon be the biggest in the world. The growing population, smaller households, rising purchasing power, and increasing health awareness among the Chinese are rapidly boosting the packaging business. The traditional and cheap packages made of paper and cardboard still dominate. But the changing household structure and the growing pharmaceuticals market are causing demand for modern plastic packages to soar. Even though cheap, standardized packaging machines still form the biggest market segment in China, the demand for high-quality, high-performance machines with high endurance and low reject rates is rising. Since Chinese consumers are increasingly attracted to western products, the manufacturers must offer modern packages. Local companies are also increasingly meeting western standards to keep up with the competition.

Japan's medical flexible packaging industry is expected to grow slower than expected due to natural disasters such as Tsunami and the overflooding of nuclear reactors. However, introducing new pack forms and a rising focus on quality is expected to improve market demand. The rise in the aging population is expected to positively impact the market demand for medical flexible packaging products.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the medical flexible packaging market. It also consists of the profiles of leading companies such as Dätwyler Holding, Inc., Becton, Dickinson & Company, Bemis Company, Inc., WestRock, Aptar, Inc., Berry Global, Catalent Pharma Solutions, Coveris S.A., Winpak Ltd., Sealed Air, Amcor, Mondi, CCL Industries, Inc., Gerresheimer, and Huhtamäki Oyj. These market players have focused on acquisitions and expansion to gain a larger market share in the medical flexible packaging market.

Browse complete report: https://www.marketstatsville.com/medical-flexible-packaging-market

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