Medical Packaging Films Market Forecasts to 2028 – Global Analysis By Material (Metallic Film, Plastic Film), Application (Tubes, Blister Packs), End User, and By Geography

Medical Packaging Films Market Forecasts to 2028 – Global Analysis By Material (Metallic Film, Plastic Film), Application (Tubes, Blister Packs), End User, and By Geography

According to Stratistics MRC, the Global Medical Packaging Films Market is accounted for $6.46 billion in 2021 and is expected to reach $10.28 billion by 2028 growing at a CAGR of 6.87% during the forecast period. Medical packaging films are the products used in the pharmaceutical packaging method. Pharmaceutical packaging is designed to protect and cover the products to be used by customers.

Market Dynamics:

Driver:

Growing demand to treat the chronic disease

The increasing demand to treat chronic disease that requires continuous vaccination drives the market. Chronic diseases are the main causes of death and disability. As the vaccines for such cases are obtainable in pre-filled syringes form, their increased consumption is likely to boost the market growth, especially for Polypropylene and Polyethylene films.

Restraint:

Fluctuations in the raw material prices

Raw material price variations hamper the market's expansion. Due to rising crude oil prices and robust consumption from plastic manufacturers, the prices get fluctuated and the decrease in production rate challenges the market to grow.

Opportunity:

Blister strips with aluminium strips

The rising cases of accidents, and increased fire-burn incidences, among others, will create new opportunities for growth for this market. Blister strips with aluminium packaging promise new opportunities for growth to provide more protection for wounds, and decrease the risk of possible infection spread. Furthermore, rising concern about infections, and increasing cases of infection-spread in hospitals, will drive the growth of the medical packaging films market.

Threat:

Stringent rules and regulations

Strict laws and regulations regarding the packaging of medical products would likely function as a challenge for the growth of medical packaging films. Also, medical packaging films need to be approved for use with a specific medical device by the Food & Drug Administration. The biggest impediment to the market's growth will be several environmental limitations for medical product packaging.

The bags & pouches segment is expected to be the largest during the forecast period

The bags & pouches segment is estimated to have a lucrative growth as medical bags are highly used in the industry, particularly when low-cost packaging is required in large quantities. The main benefit of using bags is the protection of medical products, ease of transportation, and brand promotion.

The polypropylene (PP) segment is expected to have the highest CAGR during the forecast period

The polypropylene (PP) segment is anticipated to witness the fastest CAGR growth during the forecast period owing to many benefits associated with polypropylene such as its property of stability and heat resistance. Moreover, it is frequently used in producing manufacturing packs for pharmaceutical and healthcare products.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the rising innovations, growing investments and the rising demand for chronic illnesses and therapeutics creating several opportunities in the market.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period due to increased demand for medical packaging films from highly populated countries, as these packaging solutions offer benefits such as cost-savings, sustainability, and safety of packaged products.

Key players in the market

Some of the key players profiled in the Medical Packaging Films Market include Dowdupont, Wipak Group, Covestro AG, Toray Industries, Inc., Tekra Corporation, Renolit, Polycine GmbH, Klöckner Pentaplast, Glenroy, Dunmore Corporation, Coveris Holdings S.A., Berry Global Group, Amcor, 3M and Weigao Group.

Key Developments:

In December 2019, Covestro AG launched Makrofol MA507 polycarbonate film designed for packaging breast implants. Makrofol MA507 polycarbonate film is highly transparent so the physician can reliably visually inspect the implant before unpacking it. It also provides stable protection for the product itself.

In August 2018, Amcor acquired Bemis Company, Inc. under which the company would acquire Bemis in an all-stock combination. This acquisition is aimed at increasing R&D capabilities and expanding geographical presence to cater to the demand for sustainable packaging solutions.

Product Types Covered:
• High Barrier Films
• Formable Films
• Co-Extruded Films

Materials Covered:
• Metallic Film
• Plastic Film

Applications Covered:
• Tubes
• Blister Packs
• Lidding
• Bags & Pouches
• Sachets

End Users Covered:
• Pharmaceutical
• Medical Device

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances