Medical Packaging Films Market worth $10.4 billion by 2028 – Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 30, 2023 /PRNewswire/ — The report 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“, size is estimated to be USD 7.8 billion in 2023, and it is projected to reach USD 10.4 billion by 2028 at a CAGR of 6.0%.

MarketsandMarkets_Logo

Rising population, improving living standards, increasing industrialization, rising awareness for health, and rising urbanization led to an increase in demand from healthcare facilities, which drives the market of medical packaging films during the forecast period. Apart from this, technological advancements and increasing awareness towards sustainability also help in driving the market of medical packaging films during the forecast period. The fluctuation in the prices of raw materials is becoming the main restraining factor in this market. However, growing opportunities in emerging economies and the development of eco-friendly packaging provide lucrative opportunities for medical packaging films producers. Stringent government rules & regulations are the major challenge of this market.

Browse in-depth TOC on “Medical Packaging Films Market”

180 – Tables

45 – Figures

190 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210170372

By Material, Polypropylene accounted for the second-largest share in 2022.

During the forecast period, the polypropylene (PP) segment within the medical packaging film market is anticipated to experience the most substantial compound annual growth rate (CAGR) in terms of value. Polypropylene, commonly known as PP, is an economical thermoplastic material celebrated for its remarkable characteristics, including high transparency, a glossy finish, and enhanced tensile strength. It boasts a higher melting point compared to polyethylene (PE), making it exceptionally well-suited for applications that demand sterilization at elevated temperatures. Additionally, the ability of PP to be metalized further enhances its gas barrier properties, proving valuable in applications where extending product shelf life is a paramount concern.

By Type, Thermoformable Film accounted for the largest share in 2022.

Thermoformable film is a type of flexible packaging material that becomes pliable and moldable when exposed to heat. It offers a versatile and cost-effective solution for packaging various products, and its ability to provide customized protection makes it a popular choice across multiple industries. It provides solutions that meet the specific needs of the healthcare and pharmaceutical industries, ensuring the safety, sterility, and convenience of medical products.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=210170372 

By Application, Bags accounted for the largest share in 2022.

The healthcare industry is expected to witness a growing demand for medical packaging films. This trend is driven by the continued preference for plastic films in the production of medical bags. Plastic films offer advantages such as extended shelf life, reduced susceptibility to bacterial contamination, resistance to breakage, and more convenient shipping when compared to glass bottles. Medical bags find extensive application in both the medical and pharmaceutical sectors, especially when cost-effective packaging solutions are needed in substantial quantities.

Asia Pacific is the fastest-growing market for the medical packaging films market.

The Asia-Pacific region is poised to take the lead in the medical packaging market, both in terms of value and volume, from 2023 to 2028. This growth is underpinned by the rising consumer awareness of sustainable packaging and the robust industrial foundation within the region. The European market for medical packaging films is also expected to experience favorable growth, in harmony with the regional economic development and the escalating domestic demand for medical devices and products. Furthermore, the growing public consciousness regarding the reduction of packaging waste is anticipated to be a driving force in propelling the medical packaging film market within the region.

The Medical packaging films chemicals market comprises major players such 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). Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the medical packaging films market.

Browse Adjacent Market: Packaging Market Research Reports & Consulting

Related Reports:

Medical Packaging Market – Forecast to 2022

Flexible Packaging Market – Forecast to 2027

About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: [email protected]

Research Insights: https://www.marketsandmarkets.com/ResearchInsight/medical-packaging-films-market.asp

Visit Our Website: https://www.marketsandmarkets.com/

Content Source: https://www.marketsandmarkets.com/PressReleases/medical-packaging-films.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/medical-packaging-films-market-worth-10-4-billion-by-2028–exclusive-report-by-marketsandmarkets-301971166.html

Featured image: © pressmaster

Disclaimer