Global Medical Packaging Films Market is valued at approximately USD 6.16 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.87% over the forecast period 2022-2028. Medical Packaging Films are the constituents that are used in the process of pharmaceutical packaging. This packaging is designed to safeguard the goods that are ultimately consumed by the population. This packaging offers a layer that protects products from external factors and severe environmental conditions.
The Medical Packaging Films are gaining huge traction as it presents several properties such as it is resistant to chemicals, have better performance, and have high transparency, along with this are easy to open, carry, store, and reseal. Thereby, the rising demand for Bi-Axially oriented films and bioplastic materials, coupled with the growing incidences of chronic diseases are the factors that augment the market demand across the globe. For instance, in September 2018, Amcor Limited invested USD 25 million for enhancing its Madison manufacturing facility.
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These packaging solutions for products ranging from food to medical devices, increase capacity, boost quality, and lessen waste along with advancing technology. Thereby, the increasing investment for product development is further stimulating the market demand in the approaching years. However, volatility in the prices of raw materials, and stringent government norms impedes the growth of the market over the forecast period of 2022-2028. Also, an increase in demand for the adoption of sustainable & environmentally-friendly packaging are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Medical Packaging Films market study include Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading region across the world in terms of market share owing to the strong industrial base and presence of key manufacturers. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growing demand for Medical Packaging Films majorly from the highly populated nations like India and China, as well as improving healthcare services would create lucrative growth prospects for the Medical Packaging Films market across the Asia-Pacific region.
Major market players included in this report are:
Berry Global Group
PolyCine
3M Company
Wipak Group
Amcor
Weigao Group
Covestro AG
Glenroy
DuPont
Renolit SE
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Thermoformable Film
High Barrier Film
Metallized Film
Others
By Material
Polyethylene (PE)
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polyamide (PA)
Others
By Application
Bag
Tube
Others
By Region:
North America
U.S.
Canada
Europe
UK
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Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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