Medical Packaging Films Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3755
Medical Packaging Films Market size is expected to grow significantly from 2019 to 2025.
Growing demand for bioplastic material is expected to boost medical packaging films market growth. Increasing healthcare expenditure coupled with globally rising demand for sustainable packaging solutions are factors that render a positive impact on medical packaging films industry. Moreover, benefits associated with sustainable packaging such as environment friendly that yields advantages and outweighs the cost factor should thus, propel business growth. Also, several initiatives undertaken by companies promote sustainable packaging in order to keep the environment clean and safe. Such initiatives foster industry growth.
Bi-axially oriented films demand is on a rise owing to its associated advantages including exceptional heat resistance and good impact strength. Furthermore, it is considered by end users and converters, as the utmost unique film that can be used in medical packaging. Such aspects impact positively on medical packaging films market growth. However, numerous environmental regulations for packaging of medical products might hamper medical packaging films industry growth to some extent.
Bags segment of medical packaging films market size is expected to grow substantially during the forecast period. The growth is attributed to factors such as extensive usage of medical bags especially in low cost packaging for large quantities. The most important purpose being the safety of the product, and ease of transportation is achieved through bags. Additionally, bags are used in storage of medical equipment or medicines, and first aid kit; & pouches are used in the storage of tools or liquid form medicines. Aforementioned factors boost segmental growth.
Polypropylene (PP) segment is anticipated to witness robust CAGR over the coming years on an account of benefits associated with polypropylene that has properties such as stability, heat resistance, good barrier properties. Additionally, it is appropriate for manufacturing packs for pharmaceutical and medical products, and it’s frequent usage in producing packs, should favor segment growth.
Asia Pacific medical packaging films market size accounted for considerable revenue share in 2018 and is projected to grow with a robust CAGR over the analysis period. The growth is primarily attributable to growing awareness regarding impact of environmental hazards coupled with promoting sustainable packaging. Furthermore, improving healthcare infrastructure and increasing demand for bioplastic material should fuel regional growth during the forecast timeframe.
Few of the prominent industry players operating in medical packaging films market share includes 3M, Amcor, Berry Global, Covestro, DuPont de Nemours, Glenroy, Polycine, Renolit, and Toray Plastics (America). Companies implement several strategies such as acquisitions, merger, collaborations in order to expand their market share and sustain the competition in the industry. In August 2018, Amcor Limited acquired Bemis Company, Inc. the strategy is aimed at delivering sustainable solutions for environment and to create leadership in consumer packaging.
Medical Packaging Films Market By Material, 2014-2025 (USD Million)
- Polyethylenes (PE)
- Polyamide (PA)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
Medical Packaging Films Market By Type, 2014-2025 (USD Million)
- High Barrier Film
- Thermoformable Film
- Metallized Film
Medical Packaging Films Industry By Application, 2014-2025 (USD Million)
- Parenteral Nutrition Bags
- Blood Bags
- Drainage Bags
- Biomedical Bags
- Other bags
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Amcor Limited
- Berry Global Inc.
- Covestro AG
- DuPont de Nemours, Inc.
- Glenroy, Inc.
- Polycine GmbH
- Toray Plastics (America), Inc
- Wipak Group
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