Medical Packaging Films Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Material (Polypropylene (PP), Polyvinyl Chloride (PVC), Polyethylene (PE), Others), Type (Thermo Formable Film, High Barrier Film, Others), Application (Bag, Tube, Others), And By Geography - Forecasts From 2022 To 2027

Medical Packaging Film Market is expected to grow at a CAGR of 5.47% over the forecast period to reach a total market size of US$7,369.080 million by 2027, increasing from US$5,077.080 million in 2020.

As with most other packaged goods, pharmaceuticals need reliable and speedy packaging solutions that deliver a combination of product protection, quality, tamper-evident patient comfort, and security needs. The increasing availability of biotechnology-based injectable drugs is fueling the demand for medical packaging films. Since these drugs are heat sensitive, they are unable to withstand the high heat of terminal stabilization processes. Growing healthcare and the pharmaceutical sectors are the major driving factors that are boosting the medical packaging film market growth. According to the International Trade Administration (ITA), and the U.S Department of Commerce, the biopharmaceutical industry accounted for more than $1.3 trillion in economic output in 2015, representing 4% of total U.S output. Increasing investment in the health care sector.

Increasing investment in the pharmaceutical and healthcare sectors leads to the growing adoption of medical packaging films in the healthcare sector during the forecast period. For instance, according to the Canadian Institute for Health Information, $228.1 billion was spent on health care in Canada in 2016, which represents about 11 percent of Canada’s economy or roughly around $6299 per Canadian. Furthermore, between 2001 and 2016, expenditure by the provincial government on healthcare increased by nearly 116.4 percent (in nominal terms).

The Rising government initiative

The government in many countries is investing in the development of a technologically advanced healthcare system, which is expected to drive the growth of the market in the coming years. For instance, in South Korea, more than half of the total healthcare spending is covered by the national government and state governments, thus improving the affordability of various healthcare services among individuals. National Healthcare Insurance (NHI) covers nearly half of the entire healthcare spending in this country. The National Health Insurance Program (NHIP), which covers nearly all non-elective procedures, covers around 96% of the overall population in South Korea. Also according to data from the Australian Institute of Health and Welfare, the Australian Government, the country spent around $181 billion on healthcare, which was around 6% higher than the previous year. What makes it even more impressive is that more than two-thirds of the overall healthcare spending is funded by the Australian government, along with the governments of states and territories. The Medicare Benefits Scheme (MBS) and the Pharmaceutical Benefits Scheme (PBS) launched by the federal government subsidize primary care providers besides providing funds to states to ensure the affordability of various healthcare services among citizens. Both publicly financed health insurance and private health insurance have been further improving the affordability of various healthcare services for people. Such policies attract private players’ investment in the medical equipment and packaging industry, thus propelling the growth of the market over the next five years.

By material, polypropylene is holding a significant share of the market

Polypropylene as a film material is fast gaining traction in the pharmaceutical packaging industry. It is steadily replacing PVC owing to its eco-friendly nature and good moisture-barrier properties. In developed regions such as Europe, PP is used as a replacement for PVC on account of legislation related to the incineration of PVC. In the pharmaceutical industry, PP blister packs are extensively used as they provide good barrier protection from moisture. Continued investments and launches in polypropylene have supported the growth of its demand in blister packaging. For instance, leading Russian company SIBUR has introduced new packaging applications with polypropylene incorporating Millad NX 8000 that are suitable for blister packaging used in the pharmaceutical industry.

The Asia Pacific is driving the growth of the market during the forecast period

By geography, the medical packaging film market is segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The medical packaging film market in the Asia Pacific is estimated to hold a significant share in 2019 and is anticipated to grow exponentially on account of rising health awareness coupled with increasing investment by both public and private players in the region. Simultaneously, the region is the home of the world’s largest pharmaceutical packaging companies, and with the availability of raw materials and low cost of production, the market is anticipated to witness substantial growth in the Asia Pacific region. The North American and European regions is also expected to provide good growth opportunities on account of the rising shift of medicine packaging from bottles to films, and growing regulations related to single-dose packaging are poised to augment the market growth in the region.

COVID-19 Impact on the Medical packaging films Market

With the emergence of COVID-19 new diseases and the expansion of regulatory standards worldwide, the pharmaceutical industry is focusing on population health management, which increases demand for medical packaging films as a result of the rise in medications and medical devices. Furthermore, the medical technology industry is being challenged with integrating sustainable technologies across its numerous sectors, with the packaging being a big main factor, as sustainable technology continues to grow and become integral to the business process. Furthermore, the medical technology industry is being challenged with integrating sustainable technologies throughout its numerous sectors, with packaging being a big main factor, as sustainability technology is growing and becoming integral to the business process. According to MedTech Intelligence, India's need for dialysis is increasing by roughly 30% annually. The market for dialysis there is now worth more than USD 200 million, up from USD 100 million in 2007. Over 100,000 patients are being treated and provided with continuous ambulatory peritoneal dialysis in China alone. These figures unmistakably increase the demand in these nations for dialysis bags, which are typically packed in PVC films.

KEY DEVELOPMENT

• June 2022- The performance of the new recycle-ready split nylon forming film is on par with that of their current split nylon products. Without sacrificing quality, increase the sustainability of your medical packaging. Nylon is used in forming films because it is a strong, abrasion-resistant material. To maintain device sterility during transit and storage, nylon helps optimise overall pack performance. In the industry, nylon-forming films are regarded as the gold standard since they uphold medical device safety and comply with legal standards.

Medical packaging films Market Scope:

Report Metric	Details
Market Size Value in 2020	US$5,077.080 million
Market Size Value in 2027	US$7,369.080 million
Growth Rate	CAGR of 5.47% from 2020 to 2027
Base Year	2020
Forecast Period	2022–2027
Forecast Unit (Value)	USD Million
Segments Covered	Material, Type, Application, And Geography
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered	Amcor, DuPont, Berry Global Group, 3M, Honeywell International LLC, Wipak Oy, Renolit Medical
Customization Scope	Free report customization with purchase

 

Key Market Segmentation:

• By Material
  • Polypropylene (PP)
  • Polyvinyl Chloride (PVC)
  • Polyethylene (PE)
  • Others
• By Type
  • Thermo formable Film
  • High Barrier Film
  • Others
• By Application
  • Bags
  • Tubes
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Others
  • Middle East and Africa
    • UAE
    • Saudi Arabia
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Thailand
    • Indonesia
    • Taiwan
    • Others

---

Frequently Asked Questions (FAQs)

Q1. What will be the medical packaging film market size by 2027?
A1. The medical packaging film market is expected to reach a total market size of US$7,369.080 million in 2027.

Q2. What factors are anticipated to drive the medical packaging film market growth?
A2. The increasing availability of biotechnology-based injectable drugs is fueling the demand for medical packaging films.

Q3. What is the size of the global medical packaging film market?
A3. Medical Packaging Film Market was valued at US$5,077.080 million in 2020.

Q4. What are the growth prospects for the medical packaging film market?
A4. The global medical packaging film market is expected to grow at a CAGR of 5.47% over the forecast period.

Q5. Which region holds the largest market share in the medical packaging film market?
A5. The Asia Pacific is estimated to hold a significant share of the medical packaging film market on account of rising health awareness coupled with increasing investment by both public and private players in the region.