Medical Packaging Films Market by Material (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyamide), Type (Thermoformable Film, High Barrier Film, Metallized Film), Application (Bags, Tubes), and Region - Global Forecast to 2028

Medical Packaging Films Market by Material (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyamide), Type (Thermoformable Film, High Barrier Film, Metallized Film), Application (Bags, Tubes), and Region - Global Forecast to 2028

In 2023, the global medical packaging films market valuation is estimated to be at USD 7.8 billion. Projections indicate that this figure will escalate to USD 10.4 billion by 2028, marking a CAGR of 6.0% from 2023 to 2028. The global medical packaging films market is on an upward trajectory due to the increasing need for medical packaging films and the rising demand for bi-axially oriented films within the healthcare sector. Nevertheless, the market's progress may face obstacles due to varying environmental regulations governing packaging products in different regions.

Medical packaging films denote distinctive materials that are employed within the healthcare and medical sector to package and protect a range of medical items, medical devices, diagnostic kits, and various healthcare provisions. These films are meticulously crafted to align with precise criteria and quality benchmarks, ensuring the protection, sterility, and uncompromised integrity of the packaged contents. These films are subject to regulatory compliance and are available in various forms to cater to different healthcare packaging needs.

""Thermoformable film is the biggest type segment of the medical packaging films market.""

During the forecast period, the thermoformable film segment within the medical packaging films market is anticipated to exhibit the most substantial compound annual growth rate (CAGR), particularly in terms of value. This segment is poised for significant expansion, primarily attributed to the remarkable strength and resilience inherent to thermoformable films. Given the wide array of shapes and sizes of medical products, prominent industry players are stepping up to deliver thermoforming film packages designed for medical drugs and equipment, thereby introducing innovative packaging solutions to the healthcare sector.

""Polyethylene is the largest by material segment of the medical packaging films market.""

The polyethylene segment is poised to take the lead in the medical packaging films market from 2023 to 2028, both in terms of value and volume. Polyethylene film, a thin plastic material crafted from polyethylene resins, ranks as one of the most commonly employed plastic films. Polyethylene exhibits versatility with variations in density, including low-density PE (LDPE), linear low-density PE (LLDPE), and high-density PE (HDPE). This film is widely adopted for diverse applications, such as packaging, plastic bags, labels, and is distinguished by its superior heat-sealing capabilities. LDPE is instrumental in crafting thin films, general-purpose films, and high-barrier films, while high-density polyethylene (HDPE) finds extensive usage in medical tubing. LDPE stands out as a favored alternative to PVC due to its cost-effectiveness, low-friction properties, and chemical resistance.

""Tubes is the second-fastest application segment of the medical packaging films market.""

In the global medical packaging films market, the tubes segment emerged as the second-fastest segment during the forecast period. The films used in the bags are chosen for their ability to maintain sterility, provide a barrier against contaminants, and ensure the integrity of the packaged items. Moreover, they are often engineered to be puncture-resistant, durable, and compatible with sterilization processes, making them essential for maintaining the quality and safety of medical products.

""APAC is the speediest-growing market for medical packaging films.""

The Asia-Pacific medical packaging market is anticipated to achieve the highest Compound Annual Growth Rate (CAGR) in terms of value from 2023 to 2028. This remarkable growth is ascribed to several pivotal factors. First and foremost, the substantial population growth in various countries across the Asia-Pacific region has cultivated a significant customer base for medical products and their accompanying packaging solutions. Consequently, this is expected to propel the expansion of the medical packaging film market within the Asia-Pacific region. Additionally, the region's progress is further catalyzed by factors such as increasing industrialization, the rise in disposable income among the middle-class populace, the transition from single-use to multi-use packaging solutions, and a growing awareness among consumers about the importance of reducing packaging waste. All these elements collectively contribute to a surge in demand for medical packaging films in the Asia-Pacific region during the forecast period.

The breakdown of primary interviews is given below:

By Company Type: Tier 1 – 35%, Tier 2 – 30%, and Tier 3 –35%

By Designation: C-Level – 50%, Manager-Level – 30%, and others – 20%

By Region: North America – 15%, Europe – 21%, APAC – 51%, Middle East & Africa – 8%, and South America - 5%

The key companies profiled in this report on the medical packaging films market include Amcor Plc (Switzerland), Berry Global Inc. (US), DuPont de Nemours Inc. (US), RENOLIT SE (Germany), Weigao Group (China), Sealed Air Corporation (US), Covestro AG (Germany), 3M (US), Toppan, Inc. (Japan), Wipak (Finland), and Mitsubishi Chemical Corporation (Japan), and others are the key players operating in the medical packaging films market.

Research Coverage

The medical packaging films market has been segmented based on material, type, application, and region. This report covers the medical packaging films market and forecasts its market size until 2028. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the medical packaging films market. The report also provides insights into the drivers and restraints in the medical packaging films market along with opportunities and challenges. The report also includes profiles of top manufacturers in the medical packaging films market.

Reasons to Buy the Report

The report is expected to help market leaders/new entrants in the following ways:

1. This report segments the medical packaging films market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.

2. This report is expected to help stakeholders understand the pulse of the medical packaging films market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.

3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the medical packaging films market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as acquisitions, expansions, new product developments, and partnerships/collaborations/agreements.

The report provides insights on the following pointers:

Analysis of key drivers (Rising healthcare costs coupled with an escalating prevalence of chronic illnesses), restraints (Variability in the costs of raw materials), opportunities (Increasing interest in eco-friendly packaging alternatives), and challenges (Stringent government rules & regulations) influencing the growth of the medical packaging films market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the medical packaging films market

Market Development: Comprehensive information about lucrative markets – the report analyses the medical packaging films market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the medical packaging films market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Amcor Plc (Switzerland), Berry Global Inc. (US), DuPont de Nemours Inc. (US), RENOLIT SE (Germany), Weigao Group (China), Sealed Air Corporation (US), Covestro AG (Germany), 3M (US), Toppan, Inc. (Japan), Wipak (Finland), and Mitsubishi Chemical Corporation (Japan), and others