Published Date: 2019-06-20 | Pages: Ongoing | Tables: Ongoing | Report ID: 15
Industry: Life Science
Medical packaging films are used for a wide range of medical and pharmaceutical products such as tablets, pills, capsules, wipes, implantable devices, unit dose medications, and diagnostic test kits. Some of the common medical packaging film structures include cold-formable films, high barrier foil and non-foil laminations, and co-extruded structures. Manufacturers of medical packaging films are very particular about product traceability, meeting FDA GMP requirements, and conducting third party and internal quality audits.
In May 2019, US collaborative flexible packaging solutions provider, ProAmpac showcased its medical and pharmaceutical flexible packaging products at CPhI North America. Child-Resistant Reclosable Easy Open, Chevron Pouches, and PRO-PEEL Medical were among key products presented at the event. Manufacturers are expected to introduce new products to cement a strong position in the global medical packaging films market.
The report offers deep insights into critical aspects of the global medical packaging films market, including competition, segmentation, geography, and market dynamics. It also sheds light on important business strategies of leading companies operating in the global medical packaging films market.
The rising demand for bioplastic materials, high spending on healthcare facilities, and increasing prevalence of chronic diseases are anticipated to highlight the global medical packaging films market. Apart from the growth drivers mentioned earlier, the increasing requirement of bi-axially oriented films is foretold to augment the demand for medical packaging films.
However, strict regulations and policies in the medical packaging films industry and fluctuating prices of raw materials are prophesied to challenge the global market in the coming years. Nonetheless, emerging markets and the rise in the requirement of sustainable packaging solutions are expected to create opportunities for manufacturers.
● Polyvinyl Chloride
● High Barrier Film
● Thermoformable Film
According to analysts, the polypropylene material segment is expected to post the fastest CAGR during the forecast period. Polypropylene helps with enhanced gas barrier properties on the back of its ability to be metalized. Among application segments, bag is predicted to lead the global medical packaging films market on the basis of both volume and value. Medical bags are largely used in healthcare facilities, especially to meet the requirement of large quantities of affordable packaging. The type segment of thermoformable film is forecast to rise at the quickest growth rate because of the advantages of high durability and strength.
Regionally, the global medical packaging films market is predicted to witness Asia Pacific growing at the highest CAGR during the forecast period. China and India are among the highly populated countries that have a significant requirement of medical packaging films offering product safety, sustainability, and cost savings. The presence of leading manufacturers, increasing demand for sustainable packaging solutions, and availability of a robust industrial base are expected to set the tone for quick growth of the Asia Pacific market.
The report includes competitive profiling of leading players such as Amcor, Berry Global Group, DuPont, Weigao Group, PolyCine, Covestro AG, Glenroy, 3M Company, Wipak Group, and Renolit SE.
QY Research collects qualitative and quantitative information from primary sources such as sales professionals, marketing directors, key executives of leading companies, VPs, CEOs, and industry experts. For secondary research, it refers to gold and silver standard websites, annual reports, government databases, trade directories, regulatory bodies, articles written by recognized authors, and certified publications. The overall size of the global medical packaging films market was calculated using bottom-up and top-down approaches. For estimating the market size of various segments, the authors of the report used data triangulation and market breakdown procedures.
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NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
Life sciences is a wide branch of study that is gradually becoming an integral industry to the global economics. QYR Consulting looks at the steady transformation of the life sciences industry and its impact on the subindustries such as medical care, pharmaceutical, and medical devices. Our team of esteemed analysts have put together reports to analyze the monumental changes life sciences is expected to bring in the overall healthcare industry. These reports identify the exact turning points for the industry and open up a platform for discussing its growth.
QYR Consulting brings to you a structured analysis of the technological advancements so far, vision of the players in the industry, and the strategies they are likely to use to make their mark. The reports dissect various components of the life sciences industry to scrutinize the influential factors. To help the readers make profitable business decisions, analysts have highlighted the lucrative investment areas and upcoming business opportunities.
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