Medical Flexible Packaging Market Size, Share & Trends Analysis Report By Material (Plastics, Paper, Aluminum, Bioplastics), By Product (Seals, Wraps), By End-use (Medical Device Manufacturing), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global medical flexible packaging market size was valued at USD 18.8 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.9% from 2023 to 2030. The growing pharmaceutical market in emerging economies and the growth of drug delivery systems are driving the market. Extensive use of flexible packaging solutions in the medical and pharmaceutical sectors on account of product variety, low weight, easy disposal, and requirement of less raw material is driving the market growth. The high-barrier film segment is estimated to be the fastest-growing product segment from 2023 to 2030. The demand for BOPET and polyvinylidene chloride barrier films is also expected to remain high over the forecast period due to the presence of many manufacturers. The major materials that are used for the manufacturing of flexible packaging products are plastics, paper, and aluminum, of which, the plastics material segment accounts for the largest share of the global market.

Higher tensile strength than their metal counterparts and a wide variety of options offered by plastic materials are expected to drive segment growth in the years to come. Over the past decade, the use of medical disposable products has increased significantly, driving the demand for medical flexible packaging. Numerous medical products used in healthcare facilities, such as trays, pre-filled syringes, needles, thermometers, and scalpels, are available as disposables.

Disposable products offer several advantages, such as the convenience of usage, sterility, and safety. Single-use disposables are also cost-effective and efficient as they eliminate the need to re-sterilize the product before use. The reduction of risk of cross-contamination is another key factor driving the demand for disposable products, which, in turn, is boosting the market growth.

Material Insights

The plastics segment led the market and accounted for more than 74.0% share of the global revenue in 2022. Plastics offer a wide variety of options and higher tensile strength than their metal counterparts, which is expected to drive segment growth over the forecast period. The innovation in extrusion technology and the presence of a large number of manufacturing facilities have improved the demand for plastics and paved the way for new product development in medical packaging. The most widely used plastic types include polyethylene, polyethylene terephthalate, polypropylene, and polyvinyl chloride.

Plastic is often used to retain the structure of packaging and makes it waterproof by adding a thin layer of plastic film in other types of packaging. The fluctuations in the price of oil affect the costs of plastics, which eventually affects the prices of plastic medical flexible packaging. However, the paper material segment is estimated to register the fastest CAGR from 2023 to 2030.

Innovations in the paper industry and the development of eco-friendly paper are expected to drive the segment over the forecast period. Moreover, the properties offered by paper materials, such as product safety, cleanliness, reliability, and ease of use, are estimated to boost their demand further. This type of packaging is gaining importance as it forms an important part of the branding strategy. The temperature resistance exhibited by these materials is also expected to drive the demand for paper-based products over the forecast period.

Product Insights

The pouches & bags segment led the market and accounted for more than 35.0% share of the global revenue in 2022. Pouches & bags are used for packaging a wide range of medical products. Amcor is one of the leading manufacturers and suppliers of pouches & bags in the healthcare industry. The development of special pouches & bags with high-barrier packaging is expected to drive the segment over the forecast period.

Lids & labels are majorly used to prevent the devices or pharmaceuticals from contamination, tampering, and spoilage. These products serve as the primary or secondary form of functional packaging. Labeling has become an important part of packaging due to the regulations concerning the labeling of medical devices. The demand for lids and labels is expected to grow moderately over the forecast period.

The high-barrier films segment is estimated to register the fastest CAGR from 2023 to 2030. These films prevent the permeation of light, gas, flavor, aroma, oxygen, oil, water vapor, and water and are mostly manufactured using ethylene vinyl alcohol, polyvinylidene chloride, polyacrylonitrile, and BOPET. The development of metalized films, manufactured using aluminum and silicon, is expected to propel the segment growth over the coming years.

End-use Insights

The pharmaceutical manufacturing segment accounted for the largest revenue share of more than 29.0% in 2022. The preference of manufacturers to have an in-house packing facility is driving the consumption of packaging materials in this end-use segment. However, the demand is expected to decrease as manufacturers are outsourcing their packaging activities to gain significant cost advantages.

Medical device manufacturing is the second-largest end-use segment as the product demand in this segment has spiked especially after the pandemic. A rise in healthcare expenditure all over the world and increasing innovations are also boosting segment growth. Moreover, rising product usage by medical device manufacturing companies to improve the presentability of their product packaging will support segment growth.

The contract packaging segment is projected to be the fastest-growing end-use segment from 2023 to 2030. End-use manufacturers are taking advantage of significant cost-savings offered by packaging in developing countries. Such practices have made way for the growth of the contract packaging industry. Emerging economies are perceived as favorable destinations for the growth of contract packaging services. The product demand in the other end-use segment, which includes hospitals, retail & institutional pharmacy stores, is growing at a slow rate due to the maturity of the segment.

Regional Insights

Asia Pacific was the largest regional market in 2022, accounting for a revenue share of more than 57.0%. It will expand further at the fastest CAGR from 2023 to 2030 due to the growing product demand from emerging economies, such as India and China. The rising per capita income coupled with the growing healthcare industry is also expected to have a positive impact on market development. Contract manufacturing will be one of the key end-use sectors in the region over the forecast period and is expected to present lucrative growth opportunities for medical flexible packaging manufacturers in the coming years.

North America accounted for a revenue share of over 22.0% in 2022. The product demand in the North America region is driven by an improving economic outlook and growing innovation on barrier materials. Moreover, the strong presence of major companies, such as Amcor and Bemis, is expected to further augment regional growth over the forecast period. In addition, with the increasing usage of drug delivery systems, such as IV bags and nutrition bags, product demand is increasing.

The declining growth of the pharmaceutical industry in France, Germany, and Italy on account of shifting manufacturing base to the regions with low manufacturing costs is expected to adversely affect the regional market. However, increasing R&D expenditure in the pharmaceutical industry in Europe is expected to indirectly fuel product demand over the forecast period.

Key Companies & Market Share Insights

Major companies exhibit strong control over the entire value chain. Companies in the market have been exploring data services and other allied businesses to attract more customers. The diversification strategy aimed at providing data services along with the current portfolio of products are expected to increase the market competition.

The key strategies adopted by major industry players include mergers & acquisitions, new product development, and regional expansion. Furthermore, manufacturers are looking at emerging countries as their market share is expected to grow over the forecast period. The growing demand for pharmaceuticals and medical devices in these regions will increase the product demand. Some prominent players in the global medical flexible packaging market include:

• Bemis Company, Inc.

• WestRock, Aptar, Inc.

• Dätwyler Holding, Inc.

• Becton, Dickinson & Company

• Berry Global

• Catalent Pharma Solutions

• Coveris S.A.

• Winpak Ltd.

• Sealed Air

• Amcor

• Mondi

• Huhtamäki Oyj

• CCL Industries, Inc.

• Gerresheimer

Medical Flexible Packaging Market Report Scope

Global Medical Flexible Packaging Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2023 to 2030. For the purpose of this study, Grand View Research has segmented the global medical flexible packaging market report based on material, product, end-use, and region:

• Material Outlook (Revenue, USD Million, 2018 - 2030)

  • Plastics

    • Polyvinyl Chloride

    • Polypropylene

    • Polyethylene Terephthalate

    • Polyethylene

    • Others

  • Paper

  • Aluminum

  • Bioplastics

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Seals

  • High Barrier Films

    • Biaxially Oriented Polyethylene Terephthalate (BOPET)

    • Ethylene Vinyl Alcohol (EVA)

    • Polyacrylonitrile

    • Silicon Oxide

    • Aluminum Oxide

    • Polyvinylidene Chloride

    • Others

  • Wraps

  • Pouches & Bags

  • Lids & Labels

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Pharmaceutical Manufacturing

  • Medical Device Manufacturing

  • Implant Manufacturing

  • Contract Packaging

  • Others (Clinical Trials, Drug Testing, Pathology, and Medical clothing)

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

  • Asia Pacific

    • China

    • Japan

    • India

  • Central & South America (CSA)

    • Brazil

  • Middle East & Africa (MEA)

    • South Africa