New York, USA, July 12, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The Global Medical Flexible Packaging Market was valued at USD 17.94 billion in 2023 and is anticipated to generate an estimated revenue of USD 28.32 billion by 2032, with a CAGR of 5.2% from 2024 to 2032.
Market Explanation:
The packaging utilized for medical devices guarantees that the device stays sterile until it is utilized. Its an important part of decreasing the happening of contamination and enhancing patient results. Flexible layouts that are utilized in hospitals, surgical centers, and doctor's offices presently involve barrier containers for stents, imbibed sutures, surgical instruments, and other crucial devices, configured three-dimensional flexible packages utilized for sterile surgeon's gloves, surgical drapes and gauze, and barrier flow wrap for diagnostic kits such as pregnancy examinations and drug screening.
Moreover, the medical flexible packaging market benefits from escalating estimates to curtail unsanctioned approaches to medical instruments, safeguarding against bacterial vulnerability and alternate insect bioactivity, and escalating the obtainability of flexible and accessible packaging alternatives. Additionally, ongoing accession, and alliances to acquire a rivalling, augmentation of production potential, and developing of the market scope area are anticipated to push contemporary product instigations globally.
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Fundamental Stats from the Report:
- The global market for medical flexible packaging was valued at USD 17.94 billion in 2023.
- The market is expected to grow at a 5.2% compound annual growth rate (CAGR) during the forecast period of 2024-2032.
- The medical flexible packaging market size is anticipated to grow to 28.32 billion by 2032.
Key Findings from the Report:
- The market for medical flexible packaging is expanding due to several factors, including the growing requirement for enlarged healthcare commodity durability.
- The market is mainly segmented on the basis of product type, material type, end-user, and region.
- North America dominated the market with the largest medical flexible packaging market share.
Medical Flexible Packaging Market Key Players:
- Amcor Limited
- Aptar Group Inc.
- Becton Dickinson & Company Catalent Inc.
- Berry Group Inc.
- Bemis Company Inc.
- Constantia Flexibles Group GmbH
- Coveris Holdings S.A.
- Datwyler Holdings
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Important Market Developments:
Growth Drivers:
- One of the main factors driving the medical flexible packaging market growth is the continuing economizing advances grasped by the firms to improve their production and dispensation capacity. The growing demand for medicines and healthcare instruments on the market, particularly some time usage of healthcare gadgets packaging, is portraying notable augmentation possibilities for the market.
- The growing augmentation of the pharmaceutical and healthcare domain globally, combined with the escalating aggregate of health issues, is notably pushing the production of contemporary generative therapeutics, medicines, and healthcare instruments.
Trends:
- The forecast period will witness substantial growth in the medical flexible packaging market demand due to the escalating demand for justifiable packaging solutions from healthcare donors to encounter strict government directives is changing production ventures and pushing the instigation of the green medical packaging industry.
Challenges:
- The escalating environmental contamination and the usefulness of plastics in production and packaging ventures are portraying crucial worries for medical flexible packaging acquisitions. This is motivating pharmaceutical and healthcare technology contributors to contemplate possible alternatives restricting demand for flexible packaging industries and the medical industries.
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Regional Insights:
North America: The medical flexible packaging market in North America is expected to increase due to firms' constraints on engaging in production augmentation ventures. The existence of entrenched healthcare donors in the region, especially in the U.S. and Canada, is anticipated to generate notable demand for the market.
Asia Pacific: The Asia Pacific will grow at a significant rate. This expected growth can be attributed to escalated demand for medication and the existence of an escalating geriatric population, particularly in China and India.
Segmentation Overview:
By Product Type Outlook
- Seals
- High Barrier Films
- Wraps
- Pouches & Bags
- Lids & Labels
- Others
By Material Type Outlook
- Plastics
- Bioplastics
- Paper
- Aluminum
- Others
By End User Outlook
- Pharmaceutical Manufacturing
- Medical Device Manufacturing
- Implant Manufacturing
- Contract Packaging
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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