Medical Packaging Market Research Report - Global Forecast Till 2030

Medical Packaging Market Information: By Material (Film, Fabric, Tyvek), Type (Container, Vial, Tray, and Pouches), Application (Medicals, Research, Diagnostics, Plastic Industries), End User (Hospitals, Clinics, and Forensic) - Global Forecast till 2030

ID: MRFR/PNT/0349-HCR | February 2021 | Region: Global | 128 pages

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Medical Packaging Market Overview


Globally, the medical packaging market projects at a CAGR of 10.3% through the market for4ecast period of 2021-2027.

Medical packaging gives full protection to the products and prevents them from contamination. Medical packaging gives a high rate of sterility to the p[roducts. It has increased the facilities for efficient packaging for the medical packaging industry and in some of the healthcare units. Some of the packaging materials include paper, plastics and some of the paper boards have large benefits as they are low weight and are easily recyclable, and are highly durable. The medical packaging market is in high demand nowadays as these packaging acts as a barrier thus preventing the contamination of microbes in the product so present in the packed bags. Some of the other medical packaging products include containers, wraps, and many others.


COVID 19 Analysis


The outgrowth of the pandemic has hampered the financial unit of the medical packaging industry. It has been found that the rising spread of the virus throughout the nation has enhanced the demand for the packaging of sterile products in the market. Growth in concerns regarding giving proper precaution of sanitary among the rise in growth of the population has risen the use of sterile and hygienic medical packaging products. It was marked that the coronavirus has steered up the market size and the promotion of the awareness among the customers for the use of these hygienic and sustainable products will help in the promotion of the industry in these upcoming years.


Competitive Landscape


There are some of the major market players who carry out some of the clever marketing strategies for rising the medical packaging market size. They carry out a SWOT analysis and launch some of the new products as per the new technology. These key players merge, acquire, carry out new ventures, and collaborate with each other for improving up the business units and the business portfolio. The most famous key player Amcor Limited has acquired the best manufacturer of plastic products namely, Bemis.

Some of the important companies playing in the medical packaging market are



  • MeadWestvaco Corporation of the United States

  • 3M

  • Amcor Limited of Australia

  • Chesapeake Limited of the United States

  • Mitsubishi Chemical Holdings Corporation of Japan

  • West Pharmaceuticals Services Inc. of the United States

  • Klockner Pentaplast Group of Germany

  • DuPont of the United States and

  • Bemis Company Inc. of the United States.


Market Dynamics


Drivers


An increase in several chronic cases like cancer, diabetes are some of the major factors driving up the medical packaging market growth. The rise in concern regarding the use of improved devices among the customers and the use of government initiatives raises the global medical packaging market size. Some of the major key players are opting for the use of sustainable solutions thus enhancing the use of better packaging and reducing the use of waste.


Opportunities


adapting to the regulations so imposed require some of the skills and using time, money, and resources properly. The key players of the medical packaging industry are developing new alternatives and trying to develop new packaging products. The rise in concern concerning the use of plastics and their harmful impacts on the environment creates new and advanced opportunities. This leads to the manufacturing and launching of new sustainable alternatives which is very much cost-effective.


Challenges


maintaining the safety and the sterility of the packaging products till it completes their destination is the major challenging factor for growth. Maintaining the security of the product with a fear that it will affect the health and have some medical issues of the patients is another challenging factor for the medical packaging market value. Some of the factors like the products exposing themselves to moisture, transportation, properly storing it and some of the other uses should be properly evaluated and should be ensured that it reduces the risk associated with it. This becomes another most important challenging factor for the key players for considering all these packaging things and rising the medical packaging market value.


Cumulative growth


increase in the geriatric population and growth in chronic disease among the patients, it has been expected that the industry is experiencing some of the exponential and steady growth. The rise in the CAGR rate of the market during the market forecast period expands up the market growth and size in the upcoming years.


Restraints


certain strict rules and regulations so imposed by the government act as a major restraining option for medical packaging market growth. For providing efficient and sterile packaging some of the specific time is required. The strict initiatives put forward for providing protection and preventing contamination. It is very much important for giving medical packaging as per the government regulation. Some of the minor restraining factors for contamination have heavily affected the life of certain patients. These factors hamper the medical packaging market size to a certain extent.


Market Segmentation


By type


on a global scale, the industry has been classified into applications, types, end-users, and materials. Concerning the application, it has been marked that the market has been divided into pharma sectors, plastics, medical units, diagnostic units, research activities including the chemicals sectors, and many more. Based on types, the global market is segmented into pouches, containers, of clamshell packs, vials, trays, blister packs, and many others. The end-user unit is bifurcated into medical clinics, forensic sectors, hospitals, health and research departments, etc. the material segment is bifurcated into Tyvek, molded fiber, some of the adhesives, plastic units, foam, films used for sterilization purposes, and many more.


By technology


some of the technological advancement includes the development of IoT devices in the medical packaging industry helps in the development of medical packaging market growth.


Value Chain Analysis


As per the medical packaging market trends, a certain rise and success in medical packaging market value have been achieved in the medical industry. The market players are hugely focused on launching and developing cost-effective new products. Keeping in mind the hygiene and protection, certain facilities have been taken for preventing the spread of communicable disease. Crucial steps have been taken for sterilizing the products properly. Gradual improvement in technology and the treatment facilities has helped in boosting up the business and its market value in the recent period.


Regional Analysis


Globally, it has been found that the medical packaging industry extends its share to the regions of America, the European region, Asia Pacific sectors including some of the Middle East and African region. It has been marked that the United States of America is expected to be the most dominating region. The growth in technological advancement and presence of several industries including the health, medical, and pharmaceutical industry elaborates and stretches the market growth. Along with it, the rise in the growth of medical problems and some of the diseases like cancer, COPD, diabetes, and others steers up and boosts up the market size. The European region is further divided into East and West Europe which occupies a huge position. Some of the developing countries like the UK, France, Germany are carrying out various strategies for generating more medical packaging market revenue. It is also expected that the European region holds a great market value which helps in the expansion of the business.


Recent Developments



  • In June 2021, a globally famous medical packaging manufacturer Amcor has put forward and has launched the next generation ACT2100 as per the heat seal coating technology. This specially designed packaging product is used for medical-grade DuPont Tyvek 2 and is also used for packaging up paper products. This coating provides improved and highly technological featured applications for medical packaging.

  • In the year 2017, DuPont introduced a new product for packaging purposes which was named DuPont Tyvek 40L. This product gives good protection to the lightweight items so present inside.

  • The West Pharmaceutical Services in the year 2020, extended its business and launched "Accel TRA Select EU" and made the packaging product ready to use and giving high-quality sterilization along with giving quality support.


Report Overview


The report signifies the market overview and the rise in COVID cases due to which the market faced difficulties. It also elaborated the recent developments taking place in the market thus showing the growth taking place. It elaborates on the market dynamics and the market segmentation to which the market has been divided.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   10.3% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   Â 2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Material , Type , Application and End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Amcor Limited (Australia), Chesapeake Limited (U.S.), DuPont (U.S.), Klöckner Pentaplast Group (Germany), MeadWestvaco Corporation (U.S.), Mitsubishi Chemical Holdings Corporation (Japan), Bemis Company Inc. (U.S.), West Pharmaceutical Services, Inc. (U.S.)., 3M company
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • Improvement in technology
  • Sustainable packaging and innovation


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    Frequently Asked Questions (FAQ) :

    It is estimated that the global packaging industry will register a CAGR of 10.3% during the forecast period 2022-2030

    The global medical packaging market is divided into the four segments- Application, Type, End-User, and Application

    It is expected that the North-American region will hold the largest market share in the global packaging industry.

    The Asia-Pacific region will have rapid growth in the upcoming years in the forecast period.

    Some of the key players of the global medical packaging industry are- MeadWestvaco Corporation (U.S.), Amcor Limited (Australia), Mitsubishi Chemical Holdings Corporation (Japan), Klöckner Pentaplast Group (Germany), Bemis Company Inc. (U.S.), DuPont (U.S.), West Pharmaceutical Services, Inc. (U.S.), Chesapeake Limited (U.S.) and many more.

    Efficiently from the customer’s point of view, it has been marked that the medical packaging has given full security to their products. It has experienced significant growth during the market forecast period. Some of the packaging products like paper, paper boards, plastics provide some of the benefits so provided has helped in improving the market conditions. They are very easy to handle. The rapid set up of industry and technological developments has boosted up the market growth in the future years. Some of the chronic diseases like diabetes, blood pressure, and many more have improved the market size and market growth.

    The Asia Pacific is said to be the fastest-growing region in recent years. It is due to the presence of a high number of patients who are well affected by chronic diseases. The demand for use of hygienic and better products expands up the Marker size. Some of the developing regions deliver good and cost-effective products to the consumers.