Fact.MR, in its new report, anticipates the global medical flexible packaging market to register a moderate growth over the forecast period 2017 to 2022. Sales of medical flexible packaging across the globe are expected to account for over US$ 25,000 Mn revenues by 2022-end.
Various advantages are offered by medical flexible packaging, which include easy shipping, low waste, and product protection, along with the capability of lowering the overall weight of packaging by approximately 70%. Medical flexible packaging provides product and price differentiation to consumers, and aids the preservation of medical devices’ health and hygiene value.
Huge growth opportunities for pharmaceutical and medical device manufacturers are expected to be witnessed across developing countries, which in turn will drive demand for medical flexible packaging in these regions. Currently struggling in stagnant but mature markets, with a lot of regulatory barriers, and patent expirations, leading market players are adopting key strategies such as regional expansion, and brand positioning.
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2017-2021 Global Medical Flexible Packaging Market Outlook in Comparison to 2022-2032 Growth Forecast
Medical flexible packaging products are produced from an easily flexible material. It offers multiple advantages such as it readily forms the shape of the items to be packed, provides product protection and easy shipping, and generates low waste, coupled with reduced packaging weight by up to 70%.
The provision of price and product differentiation offered by medical flexible packaging, aids in the preservation of health and hygiene of medical devices. This is estimated to support market demand by 1.3X during the assessment years of 2022-2032.
Fact.MR projects the medical flexible packaging market is expected to witness exhibiting growth at 4.7% CAGR during 2022 and 2032 in comparison to a CAGR of 3.1% with which it grew from 2017 and 2021.
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|Product Type||· Seals· High Barrier Films
· Pouches & Bags
· Lids & Labels
|End User||· Pharmaceutical Manufacturing· Medical Device Manufacturing
· Implant Manufacturing
· Contract Packaging
|Material Type||· Polyvinyl Chloride· Polypropylene
· Polyethylene Terephthalate
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
The report identified key players operating in the market, which include
- Amcor Limited
- Bemis Company Inc.
- Sealed Air Corporation
- Huhtamaki Oyj
- Mondi Group Plc
- Constantia Flexibles Group GmbH
- Becton Dickinson & Company
- Catalent Inc.
- Coveris Holdings S.A.
- Sonoco Products Company
- Berry Group Inc.
- Reynolds Group Holdings
- Aptar GroupInc.
- Datwyler Holdings
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5 Key Future Prospects of Medical Flexible Packaging Market for Forecast Period 2017 to 2022
- In terms of revenues, polyvinyl chloride will continue to be the most attractive material utilized for medical flexible packaging. Sales of paper for producing medical flexible packaging products are expected to exhibit a relatively faster expansion through 2022, based on materials.
- Medical flexible packaging are expected to find the largest application in pharmaceutical manufacturing over the forecast period. In addition, sales of medical flexible packaging products for application in implant manufacturing and contract packaging are poised to register a relatively higher CAGR through 2022.
- On the basis of product, seals will continue to be dominant in the global medical flexible packaging market, in terms of revenues. High-barrier films are expected to be the second most lucrative product in the market. However, wraps are anticipated to witness the fastest expansion in sales through 2022.
- North America will dominate the global medical flexible packaging market in 2017, and the trend is projected to continue during 2017 to 2022. Revenues from the medical flexible packaging market in North America are expected to exceed US$ 7,000 Mn by 2022-end.
- Key players projected to lead the global medical flexible packaging market are Datwyler Holdings, Aptar Group, Inc., Reynolds Group Holdings, Berry Group, Inc., Sonoco Products Company, Coveris Holdings S.A., Catalent, Inc., Becton Dickinson & Company, Constantia Flexibles Group GmbH, Mondi Group Plc, Huhtamaki Oyj, Sealed Air Corporation, Bemis Company, Inc., and Amcor Limited.
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