Selbyville, Delaware , Oct. 24, 2024 (GLOBE NEWSWIRE) — Medical Packaging Films Market was valued at USD 8.1 billion in 2023 and is projected to be worth USD 15 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
This growth is largely driven by the rising demand for pharmaceutical products, spurred by the increasing prevalence of chronic diseases and an aging global population. These factors create a heightened need for advanced medical packaging films, which play a vital role in protecting medicines from contamination, moisture, and light, thus ensuring their efficacy and safety.
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Advancements in packaging materials have led to the development of high-performance films that offer superior barrier properties, flexibility, and durability. These innovations cater to the medical and pharmaceutical industries, which demand stringent packaging standards. The introduction of multi-layered and biodegradable films has further fueled market growth as manufacturers focus on enhancing product safety and sustainability.
The medical packaging films market is segmented by material, including Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polyamide, and Polyester (PET), among others. In 2023, Polyethylene (PE) held the largest market share, accounting for over 25%. PE is highly preferred in medical packaging due to its durability, flexibility, and moisture resistance, making it ideal for products like bags, pouches, and overwraps. Its chemical stability also makes it suitable for packaging items that require sterilization.
Based on type, the medical packaging films market is divided into thermoformable film, barrier films, metalized film, and others. The barrier films segment is expected to witness a CAGR of over 8% by 2032. These films are designed to safeguard medical products from environmental factors like moisture, oxygen, and light, helping maintain the integrity and shelf life of sensitive products. Multi-layered in structure, these films are crucial for protecting medical products from external conditions that could otherwise compromise their effectiveness.
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North America dominated the global medical packaging films market in 2023, capturing over 35% of the total share. The region, especially the U.S., benefits from its advanced healthcare infrastructure, high R&D investments, and strong pharmaceutical sector. The growing demand for innovative and sustainable packaging solutions is driven by increasing rates of chronic diseases and the development of specialty drugs. Additionally, sustainability is gaining prominence, with manufacturers increasingly focusing on eco-friendly materials and practices to meet regulatory and consumer expectations.
Medical Packaging Films Market Players
Companies including Amcor, Berry Global, DuPont, Sealed Air, Klockner Pentaplast, Mitsubishi Chemical, Toppan are some firms working in medical packaging films industry.
The medical packaging films market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD million) from 2021 to 2032, for the following segments:
Market, By Type
- Thermoformable film
- Barrier films
- Metallized film
- Others
Market, By Material
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl chloride (PVC)
- Polyamide
- Polyester (PET)
- Others
Market, By Application
- Bags
- Tubes
- Others
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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