Medical Flexible Packaging Market
The study provides a detailed analysis of the industry, including the global medical flexible packaging market share, size, trends, and growth forecasts.
BROOKLYN, NEW YORK, UNITED STATES, July 13, 2023/EINPresswire.com/ — Industry Overview of Medical Flexible Packaging Market
Medical flexible packaging is used for maintaining the sterility, safety, and integrity of medical products. It consists of high-barrier films, laminates, pouches, and bags made from polyethylene, polypropylene, and aluminum foils. It is robust, lightweight, and durable, which ensures the longevity of the products. It offers various other advantages, such as easy opening and reclosing, high visibility, and protection against environmental factors, enhancing the functionality of these products. Besides this, as it is cost-effective, requires fewer manufacturing materials, and offers efficient protection, medical flexible packaging is extensively used by pharmaceutical companies to pack medicines, medical products, and supplies.
How Big Is The Medical Flexible Packaging Market?
The global medical flexible packaging market size reached US$ 26.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 39.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.05% during 2023-2028.
What Are The Growth Prospects And Trends In The Medical Flexible Packaging Industry?
Currently, the escalating global healthcare demands, amplified by an aging population and an increase in numerous acute and chronic diseases, such as cancer, asthma, diabetes, cardiovascular disease, and chronic obstructive pulmonary disease (COPD), are among the key factors supporting the growth of the market. Furthermore, technological advancements in medical devices and pharmaceuticals and increasing requirements for high-quality packaging solutions are bolstering market growth. Additionally, various government initiatives promoting the use of sterile and safe packaging in the healthcare sector are offering a favorable outlook for the market. The global push towards sustainability is also influencing the leading market players to develop eco-friendly, recyclable packaging solutions, which is expected to support the market expansion. Additionally, the proliferation of the e-commerce industry and digital platforms has broadened the distribution channels for these products, which is reinforcing market growth. Moreover, increasing awareness among individuals about health and hygiene values, coupled with the rising need for effective supply chain management and efficient transportation of medical goods, is driving the market.
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What Is Included In Market Segmentation?
The report has segmented the market into the following categories:
Breakup by Material:
• Plastics
o Polyvinyl Chloride
o Polypropylene
o Polyethylene Terephthalate
o Polyethylene
o Others
• Paper
• Aluminum
• Bioplastics
Breakup by Product:
• Pouches and Bags
• Seals
• High Barrier Films
• Wraps
• Lids and Labels
• Others
Breakup by End User:
• Pharmaceutical Manufacturing
• Medical Device Manufacturing
• Implant Manufacturing
• Contract Packaging
• Others
Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
Who Are The Key Players Operating In The Industry?
Amcor plc, Becton Dickinson and Company, Berry Global Inc., Catalent Inc., CCL Industries Inc., Coveris, Huhtamäki Oyj, Mondi plc, Sealed Air Corporation, Sonoco Products Company, WestRock Company and Winpak Ltd.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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