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Medical Packaging Films Market - Global Outlook & Forecast 2022-2027

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    Report

  • 314 Pages
  • February 2023
  • Region: Global
  • Arizton
  • ID: 5733582
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The global medical packaging films market is expected to grow at a CAGR of 6.18% from 2021-2027. The growing aging population, increasing demand for medical devices & pharmaceuticals, and demand for flexible and sustainable packaging propel the market growth. Medical packaging holds a vital role in protecting a medical or pharmaceutical product. This packaging ranges from pre-formed packages to customized packages for specialty parts. Medical packaging films are also used in the pharmaceutical packaging process. They provide a protection layer from extreme environmental conditions and other external factors until the product reaches the consumer from the main point of packaging of these products.

MARKET TRENDS & DRIVERS

Increasing Demand for Innovative Packaging Films

Several vendors have recently made several technological innovations in developing advanced medical packaging films. These innovations include cold-formed foils (alu-alu packs), the introduction of anti-counterfeiting features (holographic printing and multi-colored), child-resistant films, senior-friendly packaging films, and ultra-high barrier films. Alu-alu packs make it possible to eliminate water vapor permeability as well as oxygen and light ingress almost entirely.

For instance, India-based ACG offers a wide range of alu-alu packs, child-resistant films, senior-friendly films, and thermoformable films with an ultra-high barrier. Amcor, Berry Global, India-based Neelam Global, and Germany-based Schur Flexibles also offer a wide range of thermoformable films. Packaging companies always demand and provide these innovations in the market. These innovations will play a significant role in the future of the medical packaging film market.

Rising Demand for Flexible Packaging

The wide use of flexible packaging solutions in the pharmaceutical sector is driving growth in the global medical packaging films market. Flexible packaging offer multiple advantages, such as it readily takes the shape of the items to be packed, offers easy shipping and product protection, and generates low waste, coupled with shortening packaging weight by up to about 70%. Flexible packaging is beneficial, mainly for packaging single-use products. The packaging presents lessened chances of contamination as the products can be sterilized along with the packaging.

INDUSTRY RESTRAINTS

Volatility in Raw Material Prices

All the packaging trends come at a cost, which is quickly escalating. Rising volatile raw material and commodity prices are affecting every industry. Material suppliers struggle to profit; tier suppliers and OEMs are torn between raising prices and suffering cost increases. Raw materials procurement is under threat because of increasing trade restrictions during the COVID-19 pandemic owing to lockdown restrictions across the world; however, post-pandemic relaxation in the trade restrictions is expected to create a positive influence for key players in the market. However, fluctuations in raw material prices and stringent rules and regulations are the major restraining factor for the medical packaging films market growth and are expected to be the same during the forecast period. Various environmental regulations have been implemented in several European and Asian countries, thus impacting the market's growth.

SEGMENTATION INSIGHTS

INSIGHTS BY MATERIAL

The polyethylene segment holds the highest share of 28.09% in the global medical packaging films market. It is projected to grow at the highest CAGR of 6.60% during the forecast period. The growth can be attributable to its high flexibility, conformability, excellent chemical resistance, and a good barrier against moisture to prevent contamination in the product. Among PE, the most common materials used are HDPE and LDPE. LDPE is well known for being widely used in plastic bags because of its low density.

Polypropylene (PP) materials constituted 25.5% of the global medical packaging films market share in 2021. PP is a low-cost thermoplastic with high clarity, gloss, and enhanced tensile strength. It has a higher melting point than polyethylene, thus making it more suitable for applications requiring sterilization at high temperatures. Metalizing PP can improve gas barrier properties which is essential for extended product shelf life.

Segmentation By Material

  • Polyethylene
  • Polypropylene
  • Polyvinyl Chloride
  • Polyamide
  • Metal

INSIGHTS BY TYPE

The global medical packaging films market by type is segmented into thermoformable and high-barrier films. The thermoformable films segment accounted for the highest revenue share of 57.78% in 2021. The packaging industry has found productive results with the thermoforming film packaging process. They are ideal for packing consumable and non-consumable products for medical industries. The advantages of thermoformable films include product protection, cost-effectiveness, sustainability, fast turnaround, low waste, and more. Thermoforming is a financially efficient option due to the low costs of the materials. Thermoformed plastic products cost up to 15% less than plastic packaging made through injection molding. The process also has a quick turnaround time, which can save on labor costs.

Segmentation By Type

  • Thermoformable Films
  • High-Barrier Films

INSIGHTS BY APPLICATION

The global medical packaging films market is segmented into bags, tubes, and others under the application segment. In 2021, bags accounted for more than half of the medical packaging films market share. For manufacturing medical bags, the use of plastic films remains high, as they tend to enhance shelf life, reduce bacterial contamination, and make the bags resistant to breakage and shipment of plastic bags. The US-based Nelipak Healthcare Packaging, a global technology provider, provides innovative packaging solutions and complementary products and services and offers a wide range of rigid bag and flexible bag films, such as LLDPE bag films.

Segmentation By Application

  • Bags
  • Tubes
  • Others

INSIGHTS BY END-USER

The pharmaceutical companies segment accounted for the highest revenue share in the global medical packaging films market by end-user category. As the demand for pharmaceuticals continues to grow, the demand for packaging has grown significantly in the pharmaceutical industry. Pharmaceutical companies are highly focused on emerging markets and are developing pharmaceuticals for emerging markets, such as cell and gene therapy, 3D printed drugs and precision medicines. These are expected to create lucrative opportunities for medical packaging film manufacturers to develop innovative and advanced packaging.

Segmentation By End-User

  • Pharmaceutical Companies
  • Medical Devices Companies
  • Others

GEOGRAPHICAL ANALYSIS

In 2021, APAC accounted for the highest share of the global medical packaging films market, attributable to the growing demand for pharmaceuticals. APAC accounts for 30% of all global pharmaceutical spending, which will increase as the region’s healthcare burden rises, especially for chronic disease treatment. APAC is the leading region with the highest aging population; increasing chronic diseases and growing healthcare spending are propelling the growth of the medical packaging films market in the region. Further, the rising flexible packaging attributed to the rising consumption of plastics in the medical industry is the major driving factor of the medical packaging films market. In China, the flexible packaging market is in high demand, majorly driven by rising plastic production. Several consumers are opting for convenient packaging solutions, resulting in the growth of the flexible packaging market.

Europe is the second largest pharmaceutical packaging market then, followed by North America, Latin America, and Middle East & Africa. Massive demand for recyclable plastics for pharmaceutical packaging contributes to the significant growth of the medical packaging films market in Europe, with the recycling volume of plastic packaging waste increasing sharply from 2009 to 2019 by 50% between 2009-2019 in the region.

Segmentation by Geography

  • APAC
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Europe
  • Germany
  • Italy
  • Spain
  • France
  • UK
  • North America
  • US
  • Canada
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Middle East & Africa
  • Turkey
  • South Africa
  • South Arabia

VENDOR LANDSCAPE

The global medical packaging films market is highly dynamic and competitive, with several international, regional, and local vendors offering a diverse and comprehensive range of medical packaging films with wide applications. Technological innovations, including child-resistant films, senior-friendly films, high-barrier films such as alu-alu packs or aluminum cold-forming blister foils, thermoforming films, specialty films, unit-dose packaging films, and eco-friendly or bioplastic films are trending in the market. ACG and adapa Group (formerly Schur Flexibles) companies provide a wide range of thermoforming films that provide the highest barrier against oxygen and moisture. Specialty Films company offers Maskit Thermoformable Protective Film that can withstand high temperatures up to 190° C and is also easy to peel off, resealable and 100% recyclable, and eco-friendly. Anti-counterfeiting features in the films are also trending to protect and keep track of the product.

Recent Mergers And Acquisitions In The Global Medical Packaging Films Market

  • In 2019, Amcor invested around USD 11 million for cast films in Bristol, UK, as its next generation of medical device packaging, a new Advanced Cast Extrusion Technology.
  • In July 2021, Pregis, a global provider of innovative protective packaging materials, invested about USD 80 million in a new blown film extrusion facility to produce the latest engineered films to manufacture medical device packaging solutions.

Key Vendors

  • Berry Global
  • Amcor
  • AptarGroup
  • Sealed Air

Other Prominent Vendors

  • 3M
  • ACG
  • adapa Group
  • Avient
  • AVI Global Plast
  • CCL Industries
  • CellBios Healthcare & Lifesciences
  • Covestro
  • Coveris
  • DuPont
  • Glenroy
  • Honeywell International
  • Liveo Research
  • Meghmani Group
  • Neelam Global
  • Novolex
  • Profol
  • POLYCINE
  • Printpack
  • RENOLIT
  • Speciality Polyfilms
  • Super Olefins
  • Tekniplex
  • West Pharmaceutical Services
  • Wihuri Group

KEY QUESTIONS ANSWERED

1. How big is the medical packaging films market?
2. What is the growth rate of the global medical packaging films market?
3. What is the projected global medical packaging films market by 2027?
4. What are some significant trends in the medical packaging films market?
5. Which region dominates the global medical packaging films market?
6. Who are the global medical packaging films market's key players?

Table of Contents

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.3.1 Market Segmentation by Material
4.3.2 Market Segmentation by Type
4.3.3 Market Segmentation by Application
4.3.4 Market Segmentation by End-User
4.3.5 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview

8 Premium Insights
8.1 Market Scenario

9 Market Opportunities & Trends
9.1 Rising Focus on Eco-Friendly Packaging
9.2 Growing Popularity of Bi-Axially Oriented Polypropylene Films
9.3 Increasing Demand for Innovative Packing Films

10 Market Growth Enablers
10.1 Rising Demand for Flexible Packaging
10.2 Growing Demand for Pharmaceuticals and Medical Devices
10.3 Increasing Inorganic Vendor Activities

11 Market Restraints
11.1 Volatility in Raw Material Prices
11.2 Compliance with Environmental Regulations for Disposal & Recycling
11.3 Home Delivery of Medicines Beset with Several Challenges

12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.2.1 Insights by Material
12.2.2 Insights by Type
12.2.3 Insights by Application
12.2.4 Insights by End-User
12.2.5 Insights by Geography
12.3 Five Forces Analysis
12.3.1 Threat of New Entrants
12.3.2 Bargaining Power of Suppliers
12.3.3 Bargaining Power of Buyers
12.3.4 Threat of Substitutes
12.3.5 Competitive Rivalry

13 Material
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Polyethylene
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Market by Geography
13.4 Polypropylene
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Market by Geography
13.5 Polyvinyl Chloride
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.5.3 Market by Geography
13.6 Polyamide
13.6.1 Market Overview
13.6.2 Market Size & Forecast
13.6.3 Market by Geography
13.7 Metal
13.7.1 Market Overview
13.7.2 Market Size & Forecast
13.7.3 Market by Geography

14 Type
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Thermoformable Films
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.3.3 Market by Geography
14.4 High-Barrier Films
14.4.1 Market Overview
14.4.2 Market Size & Forecast
14.4.3 Market by Geography

15 Application
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Bags
15.3.1 Market Overview
15.3.2 Market Size & Forecast
15.3.3 Market by Geography
15.4 Tubes
15.4.1 Market Overview
15.4.2 Market Size & Forecast
15.4.3 Market by Geography
15.5 Others
15.5.1 Market Overview
15.5.2 Market Size & Forecast
15.5.3 Market by Geography

16 End-User
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Pharmaceutical Companies
16.3.1 Market Overview
16.3.2 Market Size & Forecast
16.3.3 Market by Geography
16.4 Medical Device Companies
16.4.1 Market Overview
16.4.2 Market Size & Forecast
16.4.3 Market by Geography
16.5 Others
16.5.1 Market Overview
16.5.2 Market Size & Forecast
16.5.3 Market by Geography

17 Geography
17.1 Market Snapshot & Growth Engine
17.2 Geographic Overview

18 APAC
18.1 Market Overview
18.2 Market Size & Forecast
18.3 APAC: Material
18.4 APAC: Type
18.5 APAC: Application
18.6 APAC: End-User
18.7 Key Countries
18.7.1 China: Market Size & Forecast
18.7.2 India: Market Size & Forecast
18.7.3 Japan: Market Size & Forecast
18.7.4 South Korea: Market Size & Forecast
18.7.5 Australia: Market Size & Forecast

19 Europe
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Europe: Material
19.4 Europe: Type
19.5 Europe: Application
19.6 Europe: End-User
19.7 Key Countries
19.7.1 Germany: Market Size & Forecast
19.7.2 France: Market Size & Forecast
19.7.3 Uk: Market Size & Forecast
19.7.4 Spain: Market Size & Forecast
19.7.5 Italy: Market Size & Forecast

20 North America
20.1 Market Overview
20.2 Market Size & Forecast
20.3 North America: Material
20.4 North America: Type
20.5 North America: Application
20.6 North America: End-User
20.7 Key Countries
20.7.1 Us: Market Size & Forecast
20.7.2 Canada: Market Size & Forecast

21 Latin America
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Latin America: Material
21.4 Latin America: Type
21.5 Latin America: Application
21.6 Latin America: End-User
21.7 Key Countries
21.7.1 Brazil: Market Size & Forecast
21.7.2 Mexico: Market Size & Forecast
21.7.3 Argentina: Market Size & Forecast

22 Middle East & Africa
22.1 Market Overview
22.2 Market Size & Forecast
22.3 Middle East & Africa: Material
22.4 Middle East & Africa: Type
22.5 Middle East & Africa: Application
22.6 Middle East & Africa: End-User
22.7 Key Countries
22.7.1 Turkey: Market Size & Forecast
22.7.2 Saudi Arabia: Market Size & Forecast
22.7.3 South Africa: Market Size & Forecast

23 Competitive Landscape
23.1 Competition Overview
23.2 Market Share Analysis
23.2.1 Berry Global
23.2.2 Amcor
23.2.3 Aptargroup
23.2.4 Sealed Air

24 Key Company Profiles
24.1 Berry Global
24.1.1 Business Overview
24.1.2 Product Offerings
24.1.3 Key Strategies
24.1.4 Key Strengths
24.1.5 Key Opportunities
24.2 Amcor
24.2.1 Business Overview
24.2.2 Product Offerings
24.2.3 Key Strategies
24.2.4 Key Strengths
24.2.5 Key Opportunities
24.3 Aptargroup
24.3.1 Business Overview
24.3.2 Product Offerings
24.3.3 Key Strategies
24.3.4 Key Strengths
24.3.5 Key Opportunities
24.4 Sealed Air
24.4.1 Business Overview
24.4.2 Product Offerings
24.4.3 Key Strategies
24.4.4 Key Strengths
24.4.5 Key Opportunities

25 Other Prominent Vendors
25.1 3M
25.1.1 Business Overview
25.1.2 Product Offerings
25.2 Acg
25.2.1 Business Overview
25.2.2 Product Offerings
25.3 Adapa Group
25.3.1 Business Overview
25.3.2 Product Offerings
25.4 Avient
25.4.1 Business Overview
25.4.2 Product Offerings
25.5 Avi Global Plast
25.5.1 Business Overview
25.5.2 Product Offerings
25.6 Ccl Industries
25.6.1 Business Overview
25.6.2 Product Offerings
25.7 Cellbios Healthcare & Lifesciences
25.7.1 Business Overview
25.7.2 Product Offerings
25.8 Covestro
25.8.1 Business Overview
25.8.2 Product Offerings
25.9 Coveris
25.9.1 Business Overview
25.9.2 Product Offerings
25.10 Dupont
25.10.1 Business Overview
25.10.2 Product Offerings
25.11 Glenroy
25.11.1 Business Overview
25.11.2 Product Offerings
25.12 Honeywell International
25.12.1 Business Overview
25.12.2 Product Offerings
25.13 Liveo Research
25.13.1 Business Overview
25.13.2 Product Offerings
25.14 Meghmani Group
25.14.1 Business Overview
25.14.2 Product Offerings
25.15 Neelam Global
25.15.1 Business Overview
25.15.2 Product Offerings
25.16 Novolex
25.16.1 Business Overview
25.16.2 Product Offerings
25.17 Profol
25.17.1 Business Overview
25.17.2 Product Offerings
25.18 Polycine
25.18.1 Business Overview
25.18.2 Product Offerings
25.19 Printpack
25.19.1 Business Overview
25.19.2 Product Offerings
25.20 Renolit
25.20.1 Business Overview
25.20.2 Product Offerings
25.21 Specialty Polyfilms
25.21.1 Business Overview
25.21.2 Product Offerings
25.22 Super Olefins
25.22.1 Business Overview
25.22.2 Product Offerings
25.23 Tekniplex
25.23.1 Business Overview
25.23.2 Product Offerings
25.24 West Pharmaceutical Services
25.24.1 Business Overview
25.24.2 Product Offerings
25.25 Wihuri Group
25.25.1 Business Overview
25.25.2 Product Offerings

26 Report Summary
26.1 Key Takeaways
26.2 Strategic Recommendations

27 Quantitative Summary
27.1 Market by Geography
27.2 Market by Material
27.3 Market by Type
27.4 Market by Application
27.5 Market by End-User
27.6 APAC by Material
27.7 APAC by Type
27.8 APAC by Application
27.9 APAC by End-User
27.10 Europe by Material
27.11 Europe by Type
27.12 Europe by Application
27.13 Europe by End-User
27.14 North America by Material
27.15 North America by Type
27.16 North America by Application
27.17 North America by End-User
27.18 Latin America by Material
27.19 Latin America by Type
27.20 Latin America by Application
27.21 Latin America by End-User
27.22 Middle East & Africa by Material
27.23 Middle East & Africa by Type
27.24 Middle East & Africa by Application
27.25 Middle East & Africa by End-User

28 Appendix
28.1 Abbreviations

Companies Mentioned

  • Berry Global
  • Amcor
  • AptarGroup
  • Sealed Air
  • 3M
  • ACG
  • adapa Group
  • Avient
  • AVI Global Plast
  • CCL Industries
  • CellBios Healthcare & Lifesciences
  • Covestro
  • Coveris
  • DuPont
  • Glenroy
  • Honeywell International
  • Liveo Research
  • Meghmani Group
  • Neelam Global
  • Novolex
  • Profol
  • POLYCINE
  • Printpack
  • RENOLIT
  • Speciality Polyfilms
  • Super Olefins
  • Tekniplex
  • West Pharmaceutical Services
  • Wihuri Group

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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