Fact.MR – A Market research and competitive intelligence provider: The global medical flexible packaging market value is estimated at USD 25.7 Billion in 2022 and is forecast to surpass a valuation of USD 40.9 Billion by 2032, growing market size at a CAGR of 4.7% from 2022 to 2032.
Medical Pouches and Bags is Expected to Hold Highest Medical Flexible Packaging Market Share
The Fact.MR market study on the medical flexible packaging market provides deep dive into key developments in the medical flexible packaging market. The report offers a comprehensive analysis of leading segments in terms of product type, end-user, by material type, and region
Fact.MR – A Market research and competitive intelligence provider: The global medical flexible packaging market value is estimated at USD 25.7 Billion in 2022 and is forecast to surpass a valuation of USD 40.9 Billion by 2032, growing market size at a CAGR of 4.7% from 2022 to 2032.
The extensive use of flexible packaging solutions in the pharmaceutical and medical sectors is driving the market growth. Owing to the low weight, product variety, less requirement of the raw material coupled with easy disposal is anticipated to support market demand by 1.4X in forecast years of 2022-2032.
Medical flexible packaging products are produced from an easily flexible material. It offers multiple advantages such as it readily forms the shape of the items to be packed, provides product protection and easy shipping, and generates low waste, coupled with shortening packaging weight by up to 70%.
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Flexible packaging is beneficial, especially for packaging single-use products. Single-use products are increasingly becoming popular as they help to avoid risks of cross-contamination. The packaging presents lessen chances of contamination as the products can be sterilized along with the packaging.
The healthcare industry largely uses high-barrier films as they help to prevent the permeation of light, flavor, aroma, gas, water vapor, oil, oxygen, etc. As they are available in extensive variety, they are compatible with most of the equipment and drugs.
Moreover, manufacturers are flourishing in mature markets which do have patent expirations and augmented regulatory hurdles. They are focusing on key strategies such as regional expansion and brand positioning to garner a larger market share. This anticipated to enhance the revenues of manufacturers by 1.2X in forecast years.
| Report Attributes | Details |
| Base Year Value (2021A) | USD 24.7 Billion |
| Estimated Year Value (2022E) | USD 25.7 Billion |
| Projected Year Value (2032F) | USD 40.9 Billion |
| Global Growth Rate (2022-2032) | CAGR 4.7% |
Key Takeaways:
- The global medical flexible packaging market holds nearly 30% of the global medical packaging market in 2022.
- North American medical flexible packaging market accounts for 25.1% of the overall market. The region is projected to witness market share at a CAGR of 4.6% during the forecast years of 2022-2032.
- The Asia-Pacific medical flexible packaging market consists of East Asia and South Asia accounting for 18.9% and 17.6% market. Collectively, they hold 36.5% of the overall medical flexible packaging market share.
- By product type, the pouches and bags segment holds nearly 1/3rd i.e. ~34.4% of the overall market share. The segment is projected to grow at a high CAGR of 5.3% during forecast years.
- By product type, the lids and labels which constitute 26.7% of the market share are expected to register a moderate CAGR.
- By end-use, pharmaceutical manufacturing holds the largest medical flexible packaging market share of 29.7% and is projected to grow at a CAGR of 4.3% during the forecast years of 2022-2032.
- The contract packaging which currently holds 21.3% of the overall market share is projected market size to grow at a higher CAGR of 5.2% during the forecast years.
Growth Drivers:
- The extensive use of flexible packaging solutions in the pharmaceutical and medical sectors is surging the market growth.
- The demand for BOPET barrier films and polyvinylchloride barrier films is expected to remain high during the assessment years in the medical flexible packaging market.
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Competitive Landscape:
The competitive landscape of the Medical Flexible Packaging Market focuses on expanding geographically to emerging economies, which is likely to escalate their profits. This is because of the low labor costs in the emerging countries in addition to a wider consumer base.
- Berry Global Group Inc. declared union with Mondelez International in 2020 to provide cream cheese packaging made out of recycled plastic. This is expected to establish a new trend of recycled packaging and provide gain to the market.
- Catalent Inc. signed an agreement with Acorda Therapeutics Inc. in 2021, wherein Catalent will acquire Acorda’s facility in Chelsea.
Key Companies Profiled by Fact.MR
- Bemis Company Inc.
- Sealed Air Corporation
- Huhtamaki Oyj
- Mondi Group Plc
- Constantia Flexibles Group GmbH
- Becton Dickinson & Company
More valuable insights on the Medical Flexible Packaging Market:
Fact.MR, in its report, offers a market analysis of the global Medical Flexible Packaging Market the forecast period through 2022 and beyond. This survey reveals the growth of health area in the Medical Flexible Packaging Market with detailed segmentation as follows
- By Product Type, Global Medical Flexible Packaging Market is segmented as:
- Seals
- High Barrier Films
- Wraps
- Pouches & Bags
- Lids & Labels
- Others
- By Material Type, Global Medical Flexible Packaging Market is segmented as:
- Polyvinyl Chloride
- Polypropylene
- Polyethylene Terephthalate
- Polyethylene
- Paper
- Aluminium
- Others
- By End-User, Global Medical Flexible Packaging Market is segmented as:
- Pharmaceutical Manufacturing
- Medical Device Manufacturing
- Implant Manufacturing
- Contract Packaging
- Others
- By Region, Global Medical Flexible Packaging Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Key Questions covered in the Medical Flexible Packaging Market Report
- What is the global Medical Flexible Packaging Market scenario?
- How far is the global demand expected to reach over the forecast period?
- What was the last 5-year CAGR for the demand in the Medical Flexible Packaging Market?
- Who are the prominent players in the global Medical Flexible Packaging Market?
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