Medical flexible packaging market is projected to register a moderate CAGR growth of 4.6% over the forecast period 2017 to 2022, according to a new research report published by Fact.MR. Revenues from the global medical flexible packaging market will exceed US$ 25,000 Mn by 2022-end.
Medical flexible packaging products are produced from yielding, or easily flexible materials, which readily form the shape of the items to be packed. Medical flexible packaging includes seals, high-barrier films, wraps, pouches & bags, and lids & labels. A variety of materials are used for production of medical flexible packaging, such as polypropylene, polyvinyl chloride, polyethylene terephthalate, aluminum, paper, and polyethylene.
Medical flexible packaging offers various benefits including product protection, easy shipping, and low waste, coupled with the ability of reducing weight of packaging by nearly 70%. Providing consumers with price and product differentiation, medical flexible packaging aids the preservation of hygiene and health of medical devices. Developing economies are paving huge opportunities for medical device and pharmaceutical industries, which in turn is driving demand for medical flexible packaging from these industries.
Leading market players are currently thriving in the stagnant mature markets, with increased regulatory hurdles, and patent expirations. Brand positioning and regional expansions are key strategies being adopted by the market players.
Manufacturers of flexible packaging are focusing on expansion across emerging countries for benefitting themselves from low-labor costs, and enhancing their product offerings. In addition, manufacturers are also concentrating on the combination and diversification of data analytics with manufactured products, for developing new technologically-driven products. These factors might influence growth of the market in the upcoming years.
Other factors impacting the market growth include prevention of product damages, effective supply chain management, increased efficiency in transportation of goods, attractiveness in packaging, and being a useful tool for branding and identification.
However, stringent government regulations associated with polymers, and recycling of packaging materials might impede expansion of the market. In addition, the market price trend is likely to be influenced by increasing polymer and aluminum costs, owing to political unrest.
The report identified key players operating in the market, which include
- Amcor Limited
- Bemis Company Inc.
- Sealed Air Corporation
- Huhtamaki Oyj
- Mondi Group Plc
- Constantia Flexibles Group GmbH
- Becton Dickinson & Company
- Catalent Inc.
- Coveris Holdings S.A.
- Sonoco Products Company
- Berry Group Inc.
- Reynolds Group Holdings
- Aptar GroupInc.
- Datwyler Holdings
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(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
North America is projected to remain the largest market for medical flexible packaging, with sales poised to surpass US$ 7,000 Mn in revenues by 2022-end. In addition, Europe and North America will exhibit a parallel expansion at equal CAGRs through 2022.
Wraps are expected to be the fastest-selling product in the global medical flexible packaging market. Seals will continue to be the most lucrative product in the market, followed by high-barrier films.
On the basis of application, contract packaging and implant manufacturing are expected to witness a relatively faster expansion through 2022. Pharmaceutical manufacturing will remain the largest application of medical flexible packaging during the forecast period.
Polyvinyl chloride is anticipated to remain the most lucrative material used for medical flexible packaging, in terms of revenues. Sales of paper for production of medical flexible packaging will register the highest CAGR through 2022.
Factors such as attractive packaging, prevention of product damage, higher efficiency in transporting goods, useful tool for branding & identification, and effective supply chain management are expected to drive growth of the global medical flexible packaging market. This Fact.MR report analyzes the expansion of global medical flexible packaging market till date, and provides key insights on the growth of the market during the forecast period, 2017-2022.
The scope of Fact.MR’s report is to analyze the global medical flexible packaging market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Medical device manufacturers, research institutes, and raw material suppliers in the global medical flexible packaging market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and medical journals pertaining to medical flexible packaging.
The report commences with a brief information of the global medical flexible packaging market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global medical flexible packaging market.
The next section offers an overview of the global medical flexible packaging market. This comprises an introduction to the market, along with a standard definition of the product – medical flexible packaging. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global medical flexible packaging market, the report provides updates about market opportunities, which can benefit leading manufacturers of medical flexible packaging. With continuous evolution of the healthcare sector, keeping a record of latest developments and trends is fundamental for medical flexible packaging manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, regulatory approvals, pricing analysis, list of distributors, and cost structure are provided in this section.
The report by Fact.MR gives a segment-wise analysis & forecast to cover the broad scope of medical flexible packaging market. The market is categorized based on end-user, material type, product type, and region. The segmentation analysis provided is comprehensive, with a detailed country-wise forecast offered across all key market parameters.
The report’s last section comprises of the global medical flexible packaging market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global medical flexible packaging market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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