Global Medical Packaging Films Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Global Medical Packaging Films Market Introduction: 

“The global Medical Packaging Films Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Medical packaging films are plastic films composed of different plastic materials, such as high barrier films, co-extruded films, and formable films. Medical packaging films are used for many applications in various forms for such as bags, blister packs, pouches, sachets, and wraps, owing to its unique properties such as high transparency, chemical resistant, high performance, lightweight, and easy to open, carry, store, and reseal.

Market Dynamics:

Rising demand for medical packaging films in healthcare facilities as increasing adoption of medical bags for low-cost packaging in the medical and pharmaceutical industries, is a major factor expected to drive growth of the global medical packaging films market over the forecast period. In addition, increasing demand for bi-axially oriented films is another factor anticipated to fuel growth of the target market in the next coming years.

Moreover, increasing preference of medical packaging films in applications owing to increasing demand for eco-friendly, biodegradable, cost-efficient, and flexible packaging films, are among some factors estimated to drive growth of the target market over the forecast period.

However, stringent rules and regulations by government pertaining to environmental concern and fluctuating raw material prices are among the factors which may hamper demand for sustainable medical packaging films and restrain growth of the target market over the forecast period.

Increasing adoption of sustainable packaging solutions in emerging economies is a factor expected to create a lucrative opportunity for growth of the global medical packaging films market over the forecast period.

Segment Insights:

On the basis of material type, the polypropylene segment is expected to register for major revenue share in the target market in the next coming years. Among product type, the thermo-formable segment is expected to register for major revenue share in the target market during the forecast period. Among application, the bags segment accounts major share in terms of revenue and is projected to witness fastest growth in the global medical packaging films market over the forecast period.

Regional Insights:

The medical packaging films market in the Asia Pacific is contributed major share in terms of value and volume in the target market and is expected to maintain its dominance over the forecast period. Increasing demand for medical packaging films owing to various features such as lightweight, sustainability, safety, and cost-effectiveness is expected drive revenue growth of the Asia Pacific medical packaging films market over the forecast period.

Moreover, growing demand for medical packaging films due to increasing adoption for sustainable packaging solutions is anticipated to support revenue growth of medical packaging films market in countries in the region.

The Asia Pacific market is projected to witness highest growth rate in the target market over the forecast period. North America medical packaging films market is estimated to register for significant revenue share in the global medical packaging films market over the forecast period.

Market Segmentation and Key Players Operating in the Global Medical Packaging Films Market:

Segmentation on the Basis of Material Type:

• Polyethylene
• Polypropylene
• Polyamide
• Polyvinyl Chloride
• Others (Polyethylene Terephthalate, Polystyrene, and Ethylene-vinyl Acetate)

Segmentation on the Basis of Product Type:

• Thermo-formable Film
• High Barrier Film
• Metallized Film
• Others (Coated Film, Co-extruded Film, and Cold-formable Film)

Segmentation on the Basis of Application:

• Bags
• Tubes
• Others (Blister Packs, Lidding, and Sachets)

Segmentation on the Basis of Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa