Medical Flexible Packaging Market Overview
The latest research study “Medical Flexible Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global medical flexible packaging market size reached US$ 24.32 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 37.13 Billion by 2027 exhibiting a growth rate (CAGR) of 7.10% during 2022-2027.
Flexible packaging protects products from ultraviolet (UV) rays, mold, moisture, dust, and other environmental contaminants while extending their shelf life and maintaining quality. It is made using various materials, such as plastics, foil, and papers, and is widely available in the form of bags, pouches, seals, wraps, lids, labels, high-barrier films, etc. Medical flexible packaging requires less base material, which minimizes production time and energy consumption, as compared to the rigid one. It is easy to dispose of, lightweight, and needs less raw material during manufacturing. As a result, medical flexible packaging finds widespread applications in pharmaceutical and implant production, contract packing, etc.
Covid-19 Impact Analysis:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Medical Flexible Packaging Market Trends and Drivers:
The escalating need for reducing the overall product weight among pharmaceutical manufacturers is primarily driving the medical flexible packaging market. Besides this, the elevating requirement for disposable healthcare devices to minimize the risk of surgical site infections and cross-contamination in patients is further augmenting the market growth.
Moreover, the increasing environmental concerns and medical issues among the masses, owing to the collection of non-biodegradable wastes across countries, are also catalyzing the global market. Apart from this, the rising advancements in extrusion technology are acting as significant growth-inducing factors.
Furthermore, the growing popularity of biaxially-oriented polyethylene terephthalate (BOPET) and polyvinylidene chloride (PVDC) barrier films is anticipated to propel the medical flexible packaging market over the forecasted period.
Medical Flexible Packaging Market Report Scope
Report Coverage
Details
Market size value in 2021
US$ 24.32 Billion
Market forecast in 2027
US$ 37.13 Billion
Growth Rate
CAGR of 7.10% from 2022 to 2027
Base year for estimation
2021
Historical data
2016-2021
Forecast period
2022-2027
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Material, Product and End user
Regional scope
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Key companies profiled
Amcor plc, Becton Dickinson and Company, Berry Global Inc., Catalent Inc., CCL Industries Inc., Coveris, Huhtamäki Oyj, Mondi plc, Sealed Air Corporation, Sonoco Products Company, WestRock Company and Winpak Ltd.
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization preview
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Material:
Breakup by Product:
Breakup by End User:
By Geography:
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List of Major Key Players:
The major players in the market are
Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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