Medical Packaging Films Market to Register USD 2.02 bn Growth | Technavio
NEW YORK, Dec. 3, 2021 /PRNewswire/ -- The medical packaging films market is fragmented. Vendors are using various organic and inorganic growth strategies to compete in the market. The market is expected to grow by USD 2.02 bn from 2021 to 2026, progressing at a CAGR of 5.23%.
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Top 3 Medical Packaging Films Market Players
- 3M Co. - The company offers medical packaging films that come with a laminate of tan pigmented polyethylene and aluminum vapor coated polyester, which provides a highly occlusive barrier, under the brand name of 3M.
- Amcor Plc - The company offers medical packaging films that lower the risk of transit damage and formulations available for irradiation sterilization under the brand name Amcor.
- Berry Global Group Inc. - The company offers medical packaging films that are engineered for a wide range of medical products to improve the efficiency and reliability of processing under the brand name Optym.
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Medical Packaging Films Market 2022-2026: Segmentation
- Type
- Thermoformable Film
- High Barrier Film
- Geography
- APAC
- Europe
- North America
- South America
- MEA
By type, the thermoformable film segment will account for significant market share growth during the forecast. The increased demand for medical and pharmaceutical items is a primary growth driver for the segment. Features such as high mechanical strength and moisture barrier features make thermoformable films ideal for packing sterile medical products, including pharmaceuticals and medical equipment.
By geography, APAC is expected to account for 42% of the market's growth during the forecast period, with Japan and China being the key countries. The increasing consumption of drugs in APAC will drive the medical packaging films market growth in the region.
Drivers and Challenges
The medical packaging films market is driven by increased worldwide consumption of drugs, increased use of disposable medical products, and rise in global pharmaceutical sales. However, factors such as risk of counterfeiting in medical packaging may hamper the market growth.
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Medical Packaging Films Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 5.23% |
Market growth 2022-2026 | USD 2.02 billion |
Market structure | Fragmented |
YoY growth (%) | 4.68 |
Regional analysis | APAC, Europe, North America, South America, and MEA |
Performing market contribution | APAC at 42% |
Key consumer countries | US, Japan, China, Germany, and France |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | 3M Co., Amcor Plc, Berry Global Group Inc., Covestro AG, DuPont de Nemours Inc., Glenroy Inc., PolyCine GmbH, RENOLIT SE, Shandong Weigao Group Medical Polymer Co. Ltd., and Wipak Group |
Market Dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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