Medical Packaging Films Market Growth Analysis | 2024-2030

Market Insights

“The medical packaging films market was estimated at USD 11.9 billion in 2023 and is likely to grow at a CAGR of 4.4% during 2024-2030 to reach USD 16.0 billion in 2030.”

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Market Dynamics

Introduction

Medical packaging films comprise specialized materials intended for the packaging and safeguarding of medical products, thereby ensuring their safety, sterility, and integrity during storage, transportation, and utilization. These films are crafted from diverse materials, such as plastics and aluminum, and are customized to fulfill the stringent requisites of the medical and pharmaceutical sectors. Consequently, they fulfill a pivotal role in upholding the sterility, safety, and efficacy of these products across the entirety of the supply chain.

Market Drivers

The rising prevalence of chronic diseases, an aging population, and increased access to healthcare services are driving the demand for pharmaceuticals, which in turn boosts the need for medical packaging films. Stringent regulatory standards for pharmaceutical and medical packaging, such as those set by the FDA and EMA, ensure the use of high-quality packaging materials to meet safety and efficacy requirements. Expansion of the pharmaceutical manufacturing sector, particularly in emerging economies, increases the demand for medical packaging films. The growth in the production and consumption of generic drugs also drives the need for cost-effective and reliable packaging solutions.

Recent Market JVs and Acquisitions:

A huge number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:

• In February 2024, Berry Global is entering a US$ 3.6 billion merger with Glatfelter Corporation. This merger will create NewCo, a global leader in specialty materials. Berry's Health, Hygiene, and Specialties segment will merge with its Global Nonwovens and Films business to form NewCo. The boards of both companies have approved the merger, with Berry owning approximately 90% of NewCo.
• In April 2021, Wipak and Winpak are joining forces to form a new global brand Wiicare® for healthcare packaging. Together, both companies will ensure that medical customers worldwide receive enhanced product performance through a jointly designed and uniform product portfolio of sterile barrier systems wherever sourced globally.

Recent Product Development:

• In February 2024, Aptar CSP Technologies collaborates with ProAmpac to introduce Activ-Polymer technology, providing comprehensive protection for moisture-sensitive products.
• In November 2023, Amcor, a leading packaging developer and producer, unveils the latest iteration of its Medical Laminates solutions. This advancement enables the creation of fully recyclable all-film packaging within the polyethylene stream.
• In June 2022, Constantia Flexibles introduced PERPETUA ALTA, a recycle-ready laminate with enhanced chemical resistance. This launch includes the debut of the first mono-material, based on polypropylene (PP), designed for pharmaceutical products.
• In April 2022, Covestro AG (Germany) announced the expansion of its production capacities for thermoplastic polyurethane (TPU) Films in the Platilon range in Germany.

Market Segments' Analysis

By Material Type

“Plastic is expected to be the dominant material type in the market during the forecast period.”

• The medical packaging films market is segmented into plastic (Polyethylene, Polypropylene, Polyvinyl Chloride, Others) and Aluminum.
• Plastic is expected to dominate the market during the forecast period.
• Plastics are suitable for a wide range of packaging formats, including blister packs, pouches, and lidding films, and can be tailored with different layers and properties to meet specific packaging needs, such as easy-peel, re-sealability, and tamper-evidence
• These polymer films show the high scalability and elastic variety of production which is a big advantage during manufacturing processes for medical devices and drugs. Some of the plastic films have exceptional properties of being resistant to moisture, oxygen, and light, and they work great in barriers between medical products and such contaminants that embarrass their integrity or promote the growth of microbes.
• Among Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), and other materials, Polyethylene (PE) is the most widely used material for medical packaging films.
• Polyethylene (PE) offers effective barrier protection against moisture and gases, which is crucial for preserving the sterility and quality of medical products. PE is also cost-effective, versatile, and provides a good balance of flexibility and strength. It is widely used in the production of bags, pouches, and lidding films for packaging various medical products such as syringes, catheters, and diagnostic kits.
• The ease of use, adaptability, and efficiency of plastic make it the obvious choice for solutions in the medical packaging films industry for the foreseeable future.

By Product Type

“High-barrier films are anticipated to lead the product type segment during the forecast period.”

• The market is segmented into high-barrier films (metalized films and coated films), co-extruded films, and formed films (thermoformed films and cold-formed films).
• High-barrier films in the product segment are anticipated to be the leading product type in the market during the forecast period.
• High-barrier films provide excellent protection against moisture, oxygen, and other gases. This is crucial for maintaining the sterility and efficacy of sensitive medical products, such as pharmaceuticals and medical devices.
• Many medical products, especially pharmaceuticals, can be sensitive to light, which can lead to degradation of active ingredients. Metalized high-barrier films offer effective light protection, ensuring product stability and longevity.
• High-barrier films are used in various applications, including blister packs, pouches, sachets, and lidding films, making them versatile for different packaging needs.
• High-barrier films can be tailored with specific coatings and metallizations to achieve the desired barrier properties, mechanical strength, and other functional characteristics needed for specific medical products.
• The field of material science is constantly advancing, particularly in the development of high-barrier films, which are extremely effective for medical packaging. Ongoing research aims to keep up with the latest technological advancements in barriers, printability, and environmentally friendly solutions. As the demand for eco-friendly options continues to grow, the excellent performance and versatility of high-barrier films have solidified the plastic industry's dominance in medical packaging for the foreseeable future.

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By Application Type

“Blister packs are expected to hold the major share of the market during the forecast period.”

• The market is segmented into blister packs, bags & pouches, lidding, sachets, wraps, labels, and laminates.
• Blister packs are anticipated to be the dominant application in the market during the forecast period.
• The rising prevalence of chronic diseases, an aging population, and increased access to healthcare are driving the demand for pharmaceuticals, which in turn boosts the need for blister packaging.
• Blister packs provide a strong barrier against moisture, contaminants, and environmental factors, ensuring the integrity and efficacy of the packaged products. Each unit dose is sealed separately, preventing cross-contamination and ensuring that the product remains protected until the point of use.
• Furthermore, blister packs are efficient for storage and transportation. They are small in size, taking up minimal storage space, and are designed to minimize transportation costs. Their versatility in pack sizes, along with cost-effective manufacturing for high-volume production, solidifies their position as market leaders.

Regional Insights

“During the forecast period, North America is projected to be the largest market for medical packaging films, while Asia-Pacific is expected to be the fastest-growing”.

• North America is the largest market for medical packaging films due to its advanced healthcare infrastructure, stringent regulatory standards, high demand for pharmaceuticals and medical devices, technological advancements, and the presence of major market players.
• North America, particularly the United States and Canada, boasts an advanced and well-established healthcare infrastructure that demands high-quality medical packaging to ensure the safety and efficacy of medical products.
• North America has stringent regulatory standards for medical packaging, such as those set by the FDA (Food and Drug Administration) in the US. This ensures the use of high-quality packaging materials to meet safety and efficacy requirements.
• An aging population in North America leads to increased demand for pharmaceuticals and medical devices, which in turn drives the need for effective packaging solutions. The prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer increases the demand for medications and medical products, requiring reliable packaging.
• Asia-Pacific, on the other hand, is the fastest-growing market driven by expanding healthcare infrastructure, a burgeoning pharmaceutical industry, a rising population, and healthcare needs.
• Rapid investment in healthcare infrastructure in emerging economies such as China, India, and Southeast Asian countries is driving the demand for medical packaging films. Countries like China and India are major hubs for pharmaceutical manufacturing, producing a significant share of global medications, which require extensive packaging solutions.

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Key Players

The market is partially consolidated with a few players occupying a 25-30% share. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the medical packaging films market:

Here is the list of the Top Players (Based on Dominance)

• Amcor Plc
• Honeywell International Inc
• Berry Global Group Inc.
• Weigao Group
• Klockner Pentaplast Group
• Covestro AG
• Sealed Air Corporation
• Constantia Flexibles
• Aptar Group Inc.
• Huhtamaki Oyj
• Wipak Group
• Uflex Limited

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s medical packaging films market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The medical packaging films market is segmented into the following categories.

By Material Type

• Plastics
• Aluminum

By Product Type

• High-Barrier Films
• Co-extruded films
• Formed Films

By Application Type

• Blister Packs
• Bags & Pouches
• Lidding
• Sachets
• Wraps
• Labels
• Laminates

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Italy, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances.

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