Packaging

Medical Packaging Films Market Analysis by Material (Polyethylene, Polyamide, Polypropylene, Polyvinyl Chloride, and Others); by Film Type (Co-Extruded, Formable, High Barrier Films, and Others); by Application (Bags & Pouches, Tubes, Sachets, Blisters, and Others); and by End-Use (Pharmaceuticals, and Medical Devices) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4658 | Published On: Jan 30, 2023

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • 3M company’s 3M Oral Care to launch a new custom matrix system, 3M Filtek Matrix, to facilitate less-invasive options. The system can make the restorative procedure more affordable and predictable for both patients and dentists. 

  •  Amcor Limited plans to enhance its healthcare packaging capabilities in the Europe region. An investment has been announced to make thermoforming capabilities in its facilities based in Ireland, Sligo, for medical packaging.

 


Global Medical Packaging Films Market Definition

Medical packaging films are employed in the production of bags and pouches for the packaging of a broad range of medical and pharmaceutical products, including tablets, pills, capsules, implantable devices, unit dose medications, and diagnostic test kits, with mostly plastic film packaging and, sometimes metallic films are also used, depending on the application. Packaging is a critical element, in order to deliver medical equipment safely, securely, and with the sterile barrier intact.

Pharmaceutical items are wrapped and safeguarded by packaging which is designed for consumer use. From the point of packing these products, this packaging delivers a layer of protection from outside factors and harsh environmental conditions until the product is used by the consumer. Whereas, poor packaging can initiate damage to both the medical gadget and its users. If a shipment contains a sterile medical gadget, it must arrive without any holes or damaged seals, and it must also sustain or remain on a shelf for years without breaking.

Packaging films contain properties such as high transparency, chemical resistance, superior efficiency, lightweight, and convenience of opening, carrying, storing, and resealing. Medical packaging films are widely used in the manufacturing of a wide range of packaging varieties, including bags, vials, pouches, ampoules, wraps, sachets, labels, and blister packs. These polymeric films have a broad range of medical uses. Disposable surgical gowns, mattress covers, fluid bags, transdermal patches, and wound-care items are also among them. These films can be utilized in single-layer or multi-layer designs and are manufactured from a wide range of materials, including non-porous PVC, high-barrier polyamide polymers, and even polyolefin copolymers.


Global Medical Packaging Films Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

~ USD 6.0 Billion

Forecast Year Market Size (2033)

~ USD 10.0 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Medical Packaging Films Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global medical packaging films market is estimated to garner a revenue of ~USD 10.0 billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 6.0 billion in the year 2022. 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.Medical-Packaging-Films-Market-overviewGet more information on this report:Download Sample PDF

 In addition to these, factors that are believed to fuel the market growth of medical packaging films 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.


Medical-Packaging-Films-Market-overview
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Global Medical Packaging Films Market: Growth Drivers and Challenges

Growth Drivers

  • Worldwide Increasing Shipment of Medical Devices - In the modern world, innovation in medical technology is at its peak and new devices are being launched back-to-back. Therefore, the requirement for their shipment across the globe emerges, boosting the significant demand for medical packaging films. Many of these devices are expensive and can be damaged easily while exporting and importing. Hence, such higher demand is expected to propel the market growth over the forecast period. For instance, approximately 80 percent of the medical devices in India was imported in the year 2022.

  • Growing Spending on Medicine Across the Globe - The total spending on medicine worldwide is projected to reach approximately USD 15,00 U.S. dollars by the year 2026.

  • Escalated Utilization of Syringes and Bandages - In 2020, the export volume of syringes reached around USD 100 million in the United Kingdom alone.

  • Escalating Production of Bioplastic Materials – For instance, based on a report, the potential to produce bioplastics is expected to increase from nearly 3 million tons in 2022 to around 7 million tons in 2027 across the globe.

  • Rising Approval of Drugs as of Higher Prevalence of Diseases and Disorders - For instance, in 2021, more than 45 novel therapeutics were approved by Drug Evaluation and Research.

Challenges

  • Presence of Alternatives in the Market – Several alternatives of medical film packaging such as medical-grade paper, aluminum, and so on are available in the market. These alternatives have the huge potential to replace medical films for packaging. Therefore, this factor is anticipated to hinder the market growth of medical film packaging during the projected timeframe.
  • Requirement for Higher Initial Investment
  • Disrupted Supply-Chain as a Result of COVID-19


Market Segmentation

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 market size of medical packaging films 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.

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 medical packaging films market includes the following segments:

       By Material

  • Polyethylene
  • Polyamide
  • Polypropylene
  • Polyvinyl Chloride
  • Others

       By Film Type

  • Co-Extruded
  • Formable
  • High Barrier Films
  • Others

      By Application

  • Bags & Pouches
  • Tubes
  • Sachets
  • Blisters
  • Others

       By End-Use

  • Pharmaceuticals
  • Medical Devices


Global Medical Packaging Films Market Regional Synopsis

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.

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.Medical-Packaging-Films-Market-share

Medical-Packaging-Films-Market-share

Key Questions Answered in the Report

1) What are the major factors driving the growth of the medical packaging films market?

Ans: Worldwide increasing shipment of medical devices, growing spending on medicine across the globe, and escalated utilization of syringes and bandages are some major factors driving the growth of the market.

2) What would be the CAGR of medical packaging films market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the medical packaging films market growth?

Ans: Presence of alternatives in the market, requirement for higher initial investment, and disrupted supply-chain as a result of COVID-19 are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of medical packaging films market in future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the medical packaging films market?

Ans: The major players in the market are RENOLIT SE, 3M Company, Winpak Ltd., KP Holding GmbH & Co. KG, Mondi plc, Honeywell International Inc., Amcor Limited, Toray Plastics (America), Inc., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the medical packaging films market?

Ans: The market is segmented by material, film type, application, end-user, and by region.

8) Which segment captures the largest market size in application in the medical packaging films market?

Ans: The bags & pouches segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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