The global medical packaging films market size was reached at USD 7.2 billion in 2022 and it is projected to be worth around USD 12.85 billion by 2032, expanding at a CAGR of 5.96% over the forecast period from 2023 to 2032.
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Pharmaceutical packaging involves the use of medical packaging films as a product. Pharmaceutical items are covered and protected by packaging that is intended for consumer use. Medical packaging films are used for various medical and pharma products, including pills, tablets, implantable devices, capsules, diagnostic kits and unit dose medications in the form of sterile and specialized bags packaging. Depending on the application, these films are typically plastic, but product innovation and material advancement has started offering medical packaging films in metallic material. The market for medical packaging films is growing considerably and will continue to do so in the forecast period owing to the ease of production and the innovation of sustainable packaging materials.
Amcor plc., one of the industry leaders, had total sales of $ 14,544 million in 2022. The company had a $14.97 billion revenue in 2022, which, when compared to the revenue of 2021, which was $13.58 B, had increased substantially.
Rising healthcare costs and the prevalence of chronic illnesses significantly influence the global market for medical packaging films. With the emergence of new diseases and the expansion of regulatory standards globally, the pharmaceutical industry is also witnessing a growth in medications and medical equipment, which will increase the demand for medical packaging films in the upcoming period. The increasing prevalence of chronic illnesses that require ongoing vaccination is another vital reason fueling the rise in the global market for medical packaging films. The vaccines are typically pre-filled syringes, which is anticipated to positively impact the market prospects for polypropylene and polyethylene films.
Other significant factors for the growth of the market are the rising demand for implantable devices and the increased use of medical bags for cheap packaging in the pharma sector. The market for medical packaging films is predicted to expand quickly due to the rising popularity of sustainable packaging materials, which is projected to present new lucrative prospects. The medical technology industry is rapidly integrating sustainable technologies in its different divisions, creating fresh growth prospects for the global market for medical packaging films. Additionally, possibilities for expanding the demand for medical packaging films will arise from the rising use of bioplastic materials in the packaging sector. Other changes can be found in the bi-axially oriented film industry, which is gaining popularity due to its many advantages, including superior heat and strong impact resistance.
| Report Coverage | Details |
| Market Size in 2023 | USD 7.63 Billion |
| Market Size by 2032 | USD 12.85 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 5.96% |
| Largest Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Material Type, By Type, By Application, and By End-use |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver:
The rapidly growing pharmaceutical sector
The market for medical packaging films has a sizable possibility due to the rapid development of biopharmaceuticals. Due to their effectiveness in treating various ailments, including cancer, autoimmune disorders, and chronic conditions, biopharmaceuticals, including protein-based medications, vaccines, and biosimilars, are in high demand. Biopharmaceuticals are much more susceptible to environmental conditions than traditional small-molecule medications, including temperature, light, and oxygen. They need specialized packaging solutions to guarantee their stability, potency, and effectiveness throughout the manufacture, storage, and shipping operations. Pharma packaging films are essential for preserving the quality and safeguarding the protection of biopharmaceutical medicines. These films offer exceptional barrier qualities against moisture, oxygen, and UV radiation to protect fragile biologics from deterioration and preserve their therapeutic efficiency. The safety and security of biopharmaceuticals can be further improved by incorporating features like temperature-controlled packaging, anti-counterfeiting safeguards, and tamper-evident seals in advanced packaging films.
As the market for biopharmaceuticals grows, there is an increasing demand for specialized packaging options that can meet the particular needs of these advanced medication compositions. This creates profitable prospects for the market for medical packaging films to develop and provide cutting-edge films specially made for biopharmaceutical applications. Additionally, the growing use of targeted and personalized medicines increases demand for biopharmaceuticals and expands the market for pharmaceutical packaging films. Customized packaging films can efficiently meet the smaller batch sizes, specialized package shapes, and distinct labeling needs frequently needed for personalized pharmaceuticals.
Restraint:
Continuously fluctuating and rising prices of raw materials
Specialized materials that offer excellent barrier qualities, chemical resistance, and compatibility with varied drug formulations are needed to produce packaging films for pharmaceutical applications. Aluminum foil, polyethylene, polypropylene, polyvinyl chloride and polyethylene terephthalate are examples of these materials. These raw materials' costs fluctuate because of things like changes in the price of oil, demand and supply dynamics, and geopolitical occurrences. Cost increases for raw materials directly impact how much it costs to make pharmaceutical packaging films, which puts pressure on manufacturers' and suppliers' profit margins.
To provide affordable substitutes or to optimize the formulation of films for packaging without giving up on quality and performance, manufacturers must invest in research and development. The price of pharmaceutical items could be impacted by increased raw material costs, which may affect patients' access and affordability. This is a problem, particularly in areas with constrained healthcare resources or in poor nations where having access to reasonably priced pharmaceuticals is essential. Market actors investigate tactics, including strategic sourcing, supplier alliances, and process optimization, to lessen the effects of changes in raw material prices to alleviate this constraint. Investing in recyclable and sustainable packaging materials can also assist in saving expenses overall and address environmental issues.
Opportunity:
The rising production of bioplastics for packaging purposes
The production and utilization of biodegradable, sustainable, and eco-friendly packaging materials are expected to offer many opportunities for the market’s growth during the forecast period. The introduction of bioplastics is observed as a dynamic shift in the market. A bio-based, bio-degradable plastic known as bioplastics can be created using natural resources, including different starches and vegetable oils. Compared to conventional petrochemical-based plastic, bioplastics produced using renewable raw materials provide a biodegradable alternative that is more secure for the environment and less dependent on fossil fuels. In the upcoming years, the market for medical packaging films is anticipated to increase due to the rising use of bioplastic in producing different goods and materials. As the overall packaging industry is focusing on the use of sustainable packaging solutions, the demand for bioplastics will also boost in the upcoming years by acting as a driver for the market’s growth.
Additionally, the rising government efforts to promote sustainable and eco-friendly packaging, along with favorable regulations for the adoption of such materials, will encourage the utilization of bioplastics. Multiple market players are focused on the development of bioplastic packaging solutions, especially for the medical industry; this element will accelerate the growth of the market during the predicted timeframe.
The plastic segment holds a significant share of the market, the segment will continue to grow at a noticeable rate during the forecast period. The availability of the material, ease of production and cost-effectiveness of the plastic material promote the segment’s growth. The innovation in plastic material for packaging solutions is expected to accelerate the growth of the plastic segment.
The polypropylene segment will likely see a significant increase in market share in the medical packaging films market during the period analyzed. This results from polypropylene's many advantages, including its stability and heat resistance. Additionally, production packaging for pharmaceutical and healthcare products generally employs it. The most widely used PE materials are HDPE and LDPE. Due to its low density, LDPE is well recognized for being extensively utilized in plastic bags. Polypropylene (PP) enjoys a sizable market share in the material sector. Due to its higher melting point than polyethylene, it is more suited for applications needing high-temperature sterilization. Metalizing PP can enhance the gas barrier qualities necessary for a longer product shelf life.
During the forecast period, the thermo-formable segment is expected to register a significant revenue share in the medical packaging film market. The thermoforming film packaging technology has produced positive benefits for the packaging sector. For the medical industries, they are perfect for packaging both consumable and non-consumable items. Thermoformable films have benefits such as product protection, affordability, sustainability, quick turnaround, reduced waste, and more. Due to the low cost of the materials, thermoforming is a financially advantageous choice. Thermoformed plastic products can be up to 15% less expensive than plastic packaging created using injection molding. Additionally, the technique has a rapid turnaround period, which can reduce labor expenses.
The bags application category has the largest revenue share and is anticipated to develop fastest in the worldwide medical packaging films market during the forecast period. The segment’s growth is attributed to the wide range of applications of medical bags. Medical bags are used more frequently as inexpensive packaging for huge volumes. They also provide simple transportation and product safety.
The tube segment will see significant growth during the anticipated time frame. During the projection period, several breakthroughs, including the creation of eco-friendly tubes, are expected to expand significantly the potential for the segment's growth. Additionally, the rising utilization of aseptic tubes for packing multiple surgical instruments that offers safe handling accelerates the development of the segment. Moreover, the development of tailored and customized tubes for medical purposes will propel the segment’s growth.
By end-user category, the pharmaceuticals segment held the largest share of revenue in the global market for medical packaging films in 2022. The rising drug development activities across the globe has promoted the growth of the pharmaceutical segment. The rising demand for packaging solutions such as blister packaging for precision and personalized medicine highlights the development of the segment for the upcoming years.
On the other hand, the medical devices segment is expected to grow at the fastest rate while being the attractive segment of the market. The rising emphasis on offering sterile and aseptic packaging solution for medical devices has been promoting the segment’s growth. The packaging solutions for medical devices have become crucial due to the rising number of cell and gene therapies and surgeries that require unopened and sterile packaging.
Asia Pacific held the largest share of the market in 2022, the region is expected to sustain its dominance during the forecast period. The growing awareness for sanitary and aseptic healthcare devices and equipment is promoting the market’s growth in the region. The overall growth of the packaging industry along with multiple significant innovations promote the growth of the market in Asia Pacific. The top pharmaceutical packaging firms in the world are also based in the area, and due to the accessibility of raw materials and cheap manufacturing costs, the Asia Pacific region is expected to have significant expansion in this industry.
North America is another lucrative marketplace for the medical packaging film industry. The rising emphasis on the development and utilization of bioplastics and other sustainable packaging solutions in the industry is expected to highlight the growth of the market in North America during the forecast period. Moreover, the presence of major key players in the region contributes to the growth of the market.
Segments Covered in the Report:
By Material Type
By Type
By Application
By End-use
By Geography
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