Medical Packaging Films Market Size & Share, by Material (Polyethylene, Polyamide, Polypropylene, Polyvinyl Chloride); Film Type (Co-Extruded, Formable, High Barrier Films); Application (Bags & Pouches, Tubes, Sachets, Blisters); End-user (Pharmaceuticals, Medical Devices) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4658
  • Published Date: Feb 23, 2023
  • Report Format: PDF, PPT

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

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.


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Medical Packaging Films Sector: 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

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)
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Medical Packaging Films Segmentation

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:

        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

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Medical Packaging Films Industry - Regional Synopsis

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.

Research Nester
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Companies Dominating the Medical Packaging Films Landscape

top-features-companies
    • RENOLIT SE
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • 3M Company
    • Winpak Ltd.
    • KP Holding GmbH & Co. KG
    • Mondi plc
    • Honeywell International Inc.
    • Amcor Limited
    • Toray Plastics (America), Inc.
    • DuPont de Nemours, Inc.
    • Glenroy Inc.

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.

 

Author Credits:  Abhishek Anil


  • Report ID: 4658
  • Published Date: Feb 23, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

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.

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

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.

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.

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.

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.

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

The bags & pouches segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Medical Packaging Films Market Report Scope
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