Medical Flexible Packaging Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Apr 2021 | No. of Pages : 250 Pages | Category : Chemical and Material

The global Medical Flexible Packaging market size is expected to be worth around US$ 36.3 billion by 2030, according to a new report by Vision Research Reports.

The global Medical Flexible Packaging market size was valued at US$ 25.8 billion in 2020 and is anticipated to grow at a CAGR of 7.5% during forecast period 2021 to 2030.

Growth Factors

Increasing demand for pharmaceutical products in emerging economies as well as growing demand for drug delivery systems in developed countries are driving the growth of the market. The use of flexible packaging is increasing in the healthcare industry as the companies operating in the industry are opting for sustainable functions and materials, such as paper. Paper-based packaging is included in green packaging as it is highly recyclable and economical.

The flexible packaging is well suitable for single-time use. This is especially beneficial in the packaging of single-use products, which are becoming increasingly popular to avoid the risk of cross-contamination. The products can be sterilized along with the packaging, which has reduced the chance of contamination while manufacturing the products.

The most widely used materials in the market are plastics followed by metal, paper, and bioplastics. Bioplastics are becoming increasingly popular due to government regulations regarding plastic usage & waste, as well as initiatives by several companies to adopt sustainable operations. The high tensile strength and the wide variety of products available in plastics, along with its low cost, have made it a preferable choice over its metal counterparts for packaging in the healthcare industry.

High-barrier films are largely utilized across the healthcare industry as they prevent the permeation of light, gas, flavor, aroma, oxygen, oil, water vapor, and water. These films are available in a wide variety, making them compatible with most equipment and drugs; additionally, most high-barrier film providers offer packaging made from a variety of materials to establish a one-stop solution for drug & equipment manufacturers. The high-barrier films segment is thus expected to show the highest growth rate over the forecast period.

Biologics and other such patient-oriented medicines are expected to have a positive impact on the pharmaceutical manufacturing end-use segment. The demographic trends, such as increasing cases of obesity as well as growing aging population, are expected to drive the segment further. In addition, the advancements in bioengineering and rising awareness about cosmetic implants are aiding the implant manufacturing segment.

Report Highlights

The plastics segment led the market and accounted for more than 74% share of the global revenue in 2020. Plastics offer a wide variety of options and higher tensile strength than their metal counterparts, which is expected to drive the segment growth over the forecast period. The innovation in extrusion technology and the presence of a large number of manufacturing facilities have improved the demand for plastics and paved the way for new product development in medical packaging. The most widely used plastic types include polyethylene, polyethylene terephthalate, polypropylene, and polyvinyl chloride.

Plastic is often used to retain the structure of packaging and make it waterproof by adding a thin layer of plastic film in other types of packaging. The fluctuations in the price of oil affect the costs of plastics, which eventually affects the prices of plastic medical flexible packaging. However, the paper material segment is estimated to register the fastest CAGR from 2021 to 2028.

Innovations in the paper industry and the development of eco-friendly paper are expected to drive the segment over the forecast period. Moreover, the properties offered by paper materials, such as product safety, cleanliness, reliability, and ease of use, are estimated to boost their demand further. This type of packaging is gaining importance as it forms an important part of the branding strategy. The temperature resistance exhibited by these materials is also expected to drive the demand for paper-based products over the forecast period.

The pouches & bags segment led the market and accounted for more than 35% share of the global revenue in 2020. Pouches & bags are used for packaging a wide range of medical products. Amcor is one of the leading manufacturers and suppliers of pouches & bags in the healthcare industry. The development of special pouches & bags with high-barrier packaging is expected to drive the segment over the forecast period.

Lids & labels are majorly used to prevent the devices or pharmaceuticals from contamination, tampering, and spoilage. These products serve as primary or secondary functional packaging. Labeling has become an important part of packaging due to the regulations concerning the labeling of medical devices. The demand for lids and labels is expected to grow moderately over the forecast period.

The high-barrier films segment is estimated to register the fastest CAGR from 2021 to 2028. These films prevent the permeation of light, gas, flavor, aroma, oxygen, oil, water vapor, and water and are mostly manufactured using ethylene vinyl alcohol, polyvinylidene chloride, polyacrylonitrile, and BOPET. The development of metalized films, manufactured using aluminum and silicon, is expected to propel the segment growth over the coming years.

The pharmaceutical manufacturing segment accounted for the largest revenue share of more than 29% in 2020. The preference of manufacturers to have an in-house packing facility is driving the consumption of packaging materials in this end-use segment. However, the demand is expected to decrease as manufacturers are outsourcing their packaging activities to gain significant cost advantages.

Medical device manufacturing is the second-largest end-use segment as the product demand in this segment has spiked especially after the pandemic. A rise in healthcare expenditure all over the world and increasing innovations are also boosting the segment growth.

Moreover, rising product usage by medical device manufacturing companies to improve the presentability of their product packaging will support segment growth.

Contract packaging is projected to be the fastest-growing end-use segment from 2021 to 2028. End-use manufacturers are taking significant cost advantages of packaging in developing countries. Such practices have made way for the growth of the contract packaging industry. Emerging economies are perceived as favorable destinations for the growth of contract packaging services. The product demand in the other end-use segment, which includes hospitals and retail & institutional pharmacy stores, is growing at a slow rate due to the maturity of the segment.

Asia Pacific was the largest regional market in 2020 accounting for a revenue share of more than 57%. It will expand further at the fastest CAGR from 2021 to 2028 due to the growing product demand from emerging economies, such as India and China. The rising per capita income coupled with the growing healthcare industry is also expected to have a positive impact on market development. Contract manufacturing will be one of the key end-use sectors in the region over the forecast period and is expected to present lucrative growth opportunities for the medical flexible packaging manufacturers in the coming years.

North America accounted for a revenue share of over 22% in 2020. The product demand in the North America region is driven by an improving economic outlook and growing innovation on barrier materials. Moreover, the strong presence of major companies, such as Amcor and Bemis, is expected to further augment regional growth over the forecast period. In addition, with the increasing usage of drug delivery systems, such as IV bags and nutrition bags, the product demand is increasing.

The declining growth of the pharmaceutical industry in France, Germany, and Italy on account of shifting manufacturing base to the regions with low manufacturing costs is expected to adversely affect the regional market. However, increasing R&D expenditure in the pharmaceutical industry in Europe is expected to indirectly fuel product demand over the forecast period.

Key Players

  • Bemis Company, Inc.

  • WestRock, Aptar, Inc.

  • Dätwyler Holding, Inc.

  • Becton, Dickinson & Company

  • Berry Global

  • Catalent Pharma Solutions

  • Coveris S.A.

  • Winpak Ltd.

  • Sealed Air

  • Amcor

  • Mondi

  • Huhtamäki Oyj

  • CCL Industries, Inc.

  • Gerresheimer

Market Segmentation

  • Material Outlook 

    • Plastics

      • Polyvinyl Chloride

      • Polypropylene

      • Polyethylene Terephthalate

      • Polyethylene

      • Others

    • Paper

    • Aluminum

    • Bioplastics

  • Product Outlook 

    • Seals

    • High Barrier Films

      • Biaxially Oriented Polyethylene Terephthalate (BOPET)

      • Ethylene Vinyl Alcohol (EVA)

      • Polyacrylonitrile

      • Silicon Oxide

      • Aluminum Oxide

      • Polyvinylidene Chloride

      • Others

    • Wraps

    • Pouches & Bags

    • Lids & Labels

    • Others

  • End-use Outlook 

    • Pharmaceutical Manufacturing

    • Medical Device Manufacturing

    • Implant Manufacturing

    • Contract Packaging

    • Others

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • U.K.

    • Asia Pacific

      • China

      • Japan

      • India

    • Central & South America (CSA)

      • Brazil

    • Middle East & Africa (MEA)

      • South Africa

The Medical Flexible Packaging market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Medical Flexible Packaging market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Medical Flexible Packaging market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Flexible Packaging market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Flexible Packaging market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Medical Flexible Packaging capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Medical Flexible Packaging by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Flexible Packaging market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Flexible Packaging market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Flexible Packaging market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Medical Flexible Packaging industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Medical Flexible Packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Flexible Packaging market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Flexible Packaging market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Flexible Packaging market. These factors have benefited the growth of the global market for Medical Flexible Packaging. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Flexible Packaging. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Medical Flexible Packaging are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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