The global medical flexible packaging market size was valued at USD 20.14 billion in 2016 and is expected to witness rapid growth owing to the rising demand from the pharmaceuticals and medical device manufacturing industries. Flexible packaging provides various advantages such as low waste, shipping friendly, and product protection. The ability of flexible packaging to reduce the overall weight by around 70% is expected to play a major role in driving market demand.
Besides, it provides consumers with product and price differentiation. Flexible packaging also aids in preserving the health and hygiene value of medical devices. Factors, such as the prevention of damage to products, improved efficiency of goods transportation, effective supply chain management, and a useful tool for identification & branding, and attractive packaging are the key factors driving the demand for medical flexible packaging products.
Germany is one of the largest consumers of medical flexible packaging in the European region owing to the growing number of medical device manufacturers coupled with research on new materials. Factors, such as robust healthcare infrastructure and increased spending from the public sector, are expected to have a positive impact on consumption patterns.
Emerging economies are providing excellent opportunities for the medical devices & pharmaceutical industries. These markets are exhibiting tremendous potential and expected to account for one-third of the global pharmaceutical and medical device industries by 2018. Factors, such as a huge population, improving longevity, and increasing disposable incomes in the region, are expected to provide medical flexible packaging companies with attractive opportunities. Major companies are currently struggling with the stagnation of mature markets, patent expirations, and increased regulatory hurdles.
Bioplastics are sustainable alternatives to conventional plastics, especially in the flexible and rigid packaging industries as they are fully or partially biobased, compostable, or biodegradable. The carbon content in bioplastics is derived from renewable sources such as corn, sugarcane, algae, potatoes, bacteria, seashells, and starch. The increased focus on environmental sustainability is a key driver for the development of the flexible packaging market, which is expected to result in the reduced consumption of petroleum-based raw materials and trigger the move toward bio-based alternatives.
Plastics, paper, and aluminum are the major raw materials used for the manufacturing of medical flexible packaging products. Plastics were the largest consumed materials and accounted for over 70% of market share in 2016. The presence of a large number of manufacturing facilities and innovation in extrusion technology has resulted in the increased demand for these materials and also paved the way for the development of new shapes for use in packaging. Polyvinyl chloride, polypropylene, polyethylene terephthalate, and polyethylene are the majorly used plastic materials.
Factors, such as the growing innovation in the paper industry and the development of eco-friendly paper, are anticipated to improve the demand for these materials over the forecast period. The aluminum segment growth is expected to remain slow over the forecast period as it is majorly used in niche medical applications. Aluminum foil exhibits excellent properties such as resistance to moisture, microorganisms, light, oxygen, and other gases owing to which it is used as protective packaging for pharmaceuticals and implants.
The major products that come under medical flexible packaging are seals, high barrier films, wraps, pouches and bags, lids, labels, and others. Pouches and bags are the major products in the market and expected to remain the largest segment over the forecast period, recording a CAGR of 5.9% from 2017 to 2025. Pouches and bags cater to a wide variety of applications in the healthcare sector. The development of barrier pouches and other specialized forms is expected to further boost the demand for these products.
High barrier film demand is expected to grow rapidly over the forecast period owing to the rising demand for specialized packaging. High barrier materials in laminations prevent the permeation of water vapor, oxygen, oil, flavor, aroma, or light. These products are majorly manufactured from BOPET, polyacrylonitrile, polyvinylidene chloride, and ethylene vinyl alcohol. The growing demand for metalized films manufactured from silicon and aluminum is expected to further improve the demand for high barrier films.
The major end-users in the market are pharmaceutical manufacturing, contract packaging, implant manufacturing, and medical device manufacturing. The growing innovation in medical devices coupled with the rising healthcare expenditure is paving the way for a large number of product launches. The packaging of these medical devices is also becoming of utmost importance in a bid to increase the shelf life of these products.
The demand for these products in contract packaging and implant manufacturing is expected to grow rapidly over the forecast period. The growing demand for medical implants is expected to play a major role in driving market demand.
North America was the largest consumer of medical flexible packaging products in 2016 with a market share of over 34%. However, Asia Pacific is expected to become the largest regional segment by 2025 owing to the growing healthcare market in the region. Though North America may remain the largest medical device manufacturer globally, Asia Pacific is expected to be the market leader in the consumption of flexible packaging products.
The demand in the Asia Pacific is driven by the growing consumption in China and India. The growing healthcare industry in these countries coupled with rising per capita expenditure on medical purposes is expected to have a positive impact on market growth. The rising number of generic manufacturing and contract manufacturing facilities is expected to boost the consumption of these products.
The medical flexible packaging market is highly concentrated in nature owing to the presence of a large number of manufacturers with established regional influence. The major manufacturers are Amcor Ltd.; Bemis Company Inc.; and Huhtamaki Oyj. The other industry participants include Becton Dickinson & Company; Berry Plastics Group; Aptar Group; Dätwyler Holdings; Westrock Company; Mondi Group; Catalent Pharma Solutions; and Winpak Ltd.
Regional expansions and brand positioning are the major strategies adopted by industry participants. Manufacturers are expanding in developing countries to take advantage of the low-labor costs and improving their product offerings. Also, manufacturers are diversifying and combining data analytics with the manufactured products to create a new technology-driven products market.
Attributes |
Details |
The base year for estimation |
2016 |
Actual estimates/Historical data |
2014 - 2015 |
Forecast period |
2017 - 2025 |
Market representation |
Revenue in USD Billion & CAGR from 2017 to 2025 |
Regional scope |
North America, Europe, Asia Pacific, Central & South America, and MEA |
Country scope |
U.S., Germany, France, UK, Japan, China, India, and Brazil |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the medical flexible packaging market based on material, product, end-use, and region:
Material Outlook (Revenue, USD Billion; 2014 - 2025)
Plastics
Polyvinyl Chloride
Polypropylene
Polyethylene Terephthalate
Polyethylene
Others
Paper
Aluminum
Others
Product Outlook (Revenue, USD Billion; 2014 - 2025)
Seals
High Barrier Films
Biaxially Oriented Polyethylene Terephthalate (BOPET)
Ethylene Vinyl Alcohol
Polyacrylonitrile
Silicon Oxide
Aluminum Oxide
Polyvinylidene Chloride
Others
Wraps
Pouches & Bags
Lids & Labels
Others
End-use Outlook (Revenue, USD Billion; 2014 - 2025)
Pharmaceutical Manufacturing
Medical Device Manufacturing
Implant Manufacturing
Contract Packaging
Others
Regional Outlook (Revenue, USD Billion; 2014 - 2025)
North America
The U.S.
Europe
Germany
France
UK
Asia Pacific
China
India
Japan
Central & South Africa
Brazil
Middle East & Africa
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Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.