The global medical flexible packaging market is expected to grow at a CAGR of around 6.6% from 2020 to 2027 and expected to reach the market value of around US$ 20.5 Bn by 2027.
For many powders and solid dose items (pills), flexible formats have been used for decades. Indeed, the first headache powders were sold in paper/plastic laminate sachets, which are still widely available today. The first aspirins were sold in aluminum foil strip packaging. This foil material is still used exclusively for blister packaging lidding today, usually in conjunction with a rigid plastic 'blister. Some formats, however, now use foil on foil, which has the advantage of being less prone to damage. Medical devices, ranging from simple syringes to highly sophisticated dosing mechanisms, are also packaged in flexible bags or foil packs to protect them and maintain a sterile or moisture-free environment. Flexible packaging has numerous advantages for medical and pharmaceutical products. It not only protects and extends the shelf-life of products, but it also uses less energy to manufacture, lowers shipping costs, and sends fewer materials to landfills.
Medical flexible packaging provides numerous advantages, including product protection, ease of shipment and less space utilization during storage and shipment, lowering warehousing and shipment costs. This improves the manufacturers' overall cost efficiency. Medical flexible packaging eliminates the possibility of contamination. The water-resistant medical flexible packaging has a smooth finish that prevents particles from contaminating the packaging. Furthermore, the expansion of the global pharmaceutical market is likely to increase medical product expenditure, which will have a direct impact on the medical flexible packaging market. To protect the interests of end-users, hygiene is paramount in medical flexible packaging. Sterilization has become critical in order to keep medical products clean and extend their shelf life. This is expected to increase demand for medical flexible packaging in the market.
Rising population, increasing disposable income and expenditure on healthcare facilities are likely to impact the growth of medical flexible packaging positively. The healthcare industry is rapidly expanding because health care is a significant component of a country's economic growth and an indicator of social safety net facilities. Because of the rise in chronic illnesses, the healthcare industry is expected to grow. Furthermore, the improvement and availability of healthcare facilities around the world are likely to drive market demand for medical flexible packaging.
COVID-19 impact on Medical Flexible Packaging Market
The COVID 19 pandemic will present challenges for businesses all over the world. As the number of infections rises, so will the demand for medical products. Manufacturers of basic medical supplies to combat the infection are likely to benefit from the epidemic. Many of these items are low-margin disposables, such as standard examination medical supplies, masks, wipes, gloves, and personal protective equipment (PPE). Reduced production capacity is likely to constrain supply as a result of supply chain disruptions. This is expected to increase market demand for medical flexible packaging that is both convenient and safe to use.
The global medical flexible packaging market is segmented based on material, product, and end-user. By material, the product is segmented as plastics, paper, aluminium, and bioplastics. Plastics, is further segmented as polyvinyl chloride, polypropylene, polyethylene terephthalate, polyethylene, and others. Further, product is segmented as seals, high barrier films, wraps, pouches & bags, lids & labels, and others. High Barrier Films is further segregated as biaxially oriented polyethylene terephthalate (BOPET), ethylene vinyl alcohol (EVA), polyacrylonitrile, silicon oxide, aluminum oxide, polyvinylidene chloride, and others. End-use is further segmented as pharmaceutical manufacturing, medical device manufacturing, implant manufacturing, contract packaging, and others.
Based on material, the plastics segment is expected to take the lead in the global market, accounting for a sizable market share in the global medical flexible packaging market. Plastics provide more options and have higher tensile strength than metals, which is expected to drive segment growth over the forecast period. Extrusion technology innovation, as well as the presence of a large number of manufacturing facilities, have increased demand for plastics and paved the way for new product development in medical packaging. Polyethylene, polyethylene terephthalate, polypropylene, and polyvinyl chloride are the most commonly used plastics. In other types of packaging, plastic is frequently used to retain the structure of packaging and make it waterproof by adding a thin layer of plastic film. Oil price fluctuations affect the costs of plastics, which in turn affect the prices of plastic medical flexible packaging.
By product, the pouches and bags segment is expected to take a commanding lead in the global market, accounting for the lion's share. Pouches and bags are used to package a variety of medical products. Amcor is a major manufacturer and supplier of pouches and bags in the healthcare industry. Over the forecast period, the segment is expected to be driven by the development of special pouches and bags with high-barrier packaging.
The pharmaceutical manufacturing segment has dominated the global medical flexible packaging market in the past and is expected to do so again during the forecast period. The preference of manufacturers to have an in-house packing facility is driving packaging material consumption in this end-use segment. However, demand is expected to fall as manufacturers outsource their packaging activities in order to save money.
Because of the region's pharmaceutical and medical device manufacturers, North America is expected to dominate the global medical flexible packaging market. The region accounts for a sizable portion of medical product exports. The Asia Pacific region is expected to grow rapidly due to the expansion of the medical industry. The economic outlook and government aid are likely to have an impact on healthcare facility spending in the region, which is expected to fuel consumption. The growing population, the rise in chronic illnesses and the presence of a large number of manufacturers in the region all contribute to an increase in demand for medical flexible packaging, which is expected to benefit the medical industry.
The prominent players involved in the global medical flexible packaging market are Bemis Company, Inc., Dätwyler Holding, Inc., Becton, Dickinson & Company, Berry Global, Inc., Catalent, Inc., Coveris, Winpak Ltd., Sealed Air Corporation, and among others
Market By Material
Market By Product
High Barrier Films
Pouches & Bags
Lids & Labels
Market By End-use
Medical Device Manufacturing
Medical flexible packaging market is expected to reach a market value of around US$ 20.5 Bn by 2027.
The medical flexible packaging market is expected to grow at a CAGR of around 6.6% from 2020 to 2027.
Based on product, pouches & bags segment is the leading segment in the overall market.
Rising demand from pharmaceuticals is one of the prominent factors that drive the demand for medical flexible packaging market.
Bemis Company, Inc., Dätwyler Holding, Inc., Becton, Dickinson & Company, Berry Global, Inc., Catalent, Inc., Coveris, Winpak Ltd., Sealed Air Corporation, and among others.
North America is anticipated to grab the highest market share in the regional market
Asia Pacific is expected to be the fastest growing market in the forthcoming years