Medical Packaging Films Market size is poised to cross USD 10 Billion by the end of 2033, growing at a CAGR of 7% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of medical packaging films was USD 6 Billion. The growth of the market can primarily be ascribed to the exponential growth in global health expenditures. Based on the statistics released by the World Bank, health expenditures across the globe reached approximately 1,121.9 U.S. dollars per capita in 2019. Further, the growth of the market can be attributed to the surging demand for bioplastic materials, and bi-axially oriented films for packaging pharmaceutical products to secure them from any kind of damage and contamination. The benefits of bioplastics are frequently touted as lower usage of fossil fuel resources, a lesser carbon footprint, and rapid decomposition. Bioplastic is also less hazardous, and it does not encompass bisphenol A (BPA), a hormone disruptor that is commonly found in regular plastics.
In addition to these, factors that are believed to fuel the growth of medical packaging films market include the rising proportion of patients who have been suffering from numerous types of chronic disorders throughout the world. For instance, in the United States, nearly half of all Americans, or around 138 million people, are projected to have at least one chronic disease, such as arthritis, heart disease, or hypertension. This number is nearly 16 million more than it was just ten years ago, and by 2030, it is estimated to rise to approximately 172 million. Additionally, medical packaging films market trends such as rising R&D on drug discovery and booming demand for medicines globally are also projected to influence the further growth of the market positively over the forecast period. Moreover, skyrocketing consumption of medicines and growing awareness toward the safety of medicines and drugs is further expected to hike the growth of the market over the forecast period. It is observed that the consumption of anti-hypertensive drugs in OECD countries rise by around 60% from 2000 to 2019. Hence, all these factors are anticipated to push the market growth further over the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
7% |
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Base Year Market Size (2022) |
USD 6.0 Billion |
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Forecast Year Market Size (2033) |
USD 10.0 Billion |
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Regional Scope |
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Application (Bags & Pouches, Tubes, Sachets, Blisters)
The global medical packaging films market is segmented and analyzed for demand and supply by application into bags & pouches, tubes, sachets, blisters, and others. Out of the five types of medical film packaging, the bags & pouches segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be attributed to the significant growth in the healthcare industry, which is projected to fuel the growth of the market, as these pouches and bags are hugely employed for the packaging of catheters, dressings, syringes, gloves, and so on, thus the increased demand for all these medical products is anticipated to accelerate the size of medical packaging films market throughout the forecast period. For instance, disposable syringe export shipments throughout the world grossed around 34989, with around 1625 global manufacturers shipped to 2995 purchasers till November 2022. The three leading exporters of disposable syringes from that period were India with approximately 13,925 shipments, followed by China with around 9,890 shipments, and the Philippines with 5,218 shipments. Additionally, the growth of the segment can also be attributed to the convenient affordability and easy recyclability of these bags & pouches, which make them the top choice for packaging all sorts of medical equipment and medicines.
Material (Polyethylene, Polyamide, Polypropylene, Polyvinyl Chloride)
The global medical packaging films market is also segmented and analyzed for demand and supply by material into polyethylene, polyamide, polypropylene, polyvinyl chloride, and others. Amongst these three segments, the polypropylene segment is expected to garner a significant share on the back of advantages associated with polypropylene. There are various advantages to using polypropylene, including its durability and heat resilience. It is also often utilized in the production of manufacturing packs for pharmaceutical and healthcare commodities.
Our in-depth analysis of the global market includes the following segments:
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By Material |
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By Film Type |
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By Application |
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By End-Use |
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North American Market Forecast
The North American medical packaging films market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the rising advancement in medical technology and spiking healthcare expenditure, which are boosting the demand for and use of numerous medical products and medicines in the region. As per the data released by the World Bank, the health expenditure in the United States reached 10,921.01 U.S. dollars per capita in 2019. Hence, these factors are estimated to hike the growth of the market over the forecast period. Further, the significant proliferation in the population of aging people who are mostly dependent on medical services and products, is another major factor that is anticipated to further proliferate the growth of the market over the forecast period in the region.
APAC Market Statistics
Furthermore, the Asia Pacific medical packaging films market is estimated to display notable market growth by the end of 2033. The growth of the market can be attributed to the dynamically rising demand for medical and pharmaceutical products in countries such as China, India, Malaysia, and so on. Besides this, the surge in disposable income, growth in the pharmaceuticals industry, along with expansion in the production of pharmaceuticals and medical apparatuses products are some other factors that are estimated to drive the market growth further throughout the projected time frame in the region. For instance, with an annual revenue of nearly USD 860 billion, Asia-Pacific topped the world in 2021 in terms of pharmaceutical and medical equipment manufacturing output.
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Author Credits: Sadaf Naaz, Mohd Shadab
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