The latest market report published by Credence Research, Inc. “Global Medical Packaging Films Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global medical packaging film market is anticipated to grow at a substantial CAGR of 5.20% in the upcoming years. The global medical packaging film industry was estimated to be worth USD 5.9 billion in 2022 and was expected to be worth USD 8.41 billion by 2030.
The report provides key insights into the performance of major segments in the medical packaging films market. In 2022, the PE segment accounted for the largest share of the market due to its superior chemical resistance, conformability, flexibility, and moisture barrier properties. The thermoformable film segment also held a prominent market share, offering positive outcomes in the packaging sector. Bags and laminations were the dominant segments, reflecting the wide use of plastic films for medical bags and packaging structures.
Asia Pacific dominated the medical packaging films market in terms of regional revenue share in 2022. The region experienced increased demand for medical packaging films due to characteristics such as lightweight, sustainability, safety, and cost-effectiveness. The expanding acceptance of sustainable packaging solutions further drives the market in Asia Pacific. Europe is anticipated to have the highest growth rate, driven by rising awareness of waste management among customers.
The competitive landscape of the medical packaging films market is characterized by key players such as Amcor plc, Berry Global Inc., DuPont, RENOLIT SE, Weigao group, POLYCINE GmbH, Covestro AG, Glenroy Inc., 3M, Wihuri Group, TORAY INTERNATIONAL, INC., Klöckner Pentaplast, DUNMORE, TEKRA, LLC, Coveris, WINPAK LTD., Honeywell International Inc, Celanese Corporation, AMERICAN POLYFILM, INC., Majilite Corporation, and others. These companies focus on increasing production capabilities, strategic alliances, and raising vendor awareness to gain a competitive edge.
The medical packaging films market key growth trends have been heavily influenced by the rise in healthcare expenditure and demand for sterile packaging solutions. As more and more people are seeking healthcare services, there is a growing need for safe and effective packaging materials to keep their medication and medical supplies secure during transportation. With advancements in technology, manufacturers are now producing innovative medical-grade films that offer superior barrier properties against moisture, oxygen, light, and other harmful environmental factors. These films are also designed to be easy to use, cost-effective, and environmentally friendly.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Medical Packaging Films Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Film Structure and End-Use
- Major nations in each region with their import/export statistics
- The global Medical Packaging Films Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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