Medical flexible packaging refers to various packaging structures used in ensuring the safety of the contents within it. The lightweight material and high shelf life of medical packaging products such as pouches and bags, lids and labels, wraps, high barrier films, and seals is enticing for medical device or product manufacturers. The increasing use of sustainable alternatives such as bioplastics to reduce the dependence on carbon dioxide-inducing raw materials can lead to low end-product prices. Investing in polyester, copolyester, and copolymers are expected to open up opportunities for novel packaging and sealing methods. For instance, the various packaging structures derived from copolyester films by Tekni-Films are apt for pharmaceutical products.
Focus on Safety and Transport of Products
Contract packaging, implant manufacturing, medical device manufacturing, and pharmaceutical manufacturing are major end users of medical flexible packaging. The medical device manufacturing segment accounted for over 31% share in 2016 on account of increasing demand for low-cost medical devices in the Middle East. The capacity of flexible packaging to ensure the safety of medical devices can be credited to the high share of the segment. For instance, Beacon Converters Inc. was awarded in 2016 for creating innovative packaging structures for the CardioFocus Heart Light Ablation System balloon catheter system.
The implant manufacturing and contract packaging segments are expected to display a healthy growth potential from 2014 to 2025. The contract packaging segment is predicted high growth due to demand for biosimilars and biobetters. In addition, it is guaranteed a steady growth on account of drugs or medicines needed to treat chronic diseases. The medical implant manufacturing segment is expected to exhibit a similar growth rate due to demand for lightweight implants. Companies operating in this segment are relying on polyethylene terephthalate glycol-modified (PETG) and polystyrene for packing sensitive medical devices and instruments.
Market Overview
According to an insightful report by Grand View Research, Inc. the global medical flexible packaging market size is predicted to touch USD 34.62 billion by 2025,. Developments in packaging materials and steady demand for medical devices and products are expected to drive market demand over the forecast period (2014-2025).
The emphasis on the use of sustainable materials by package manufacturers is projected to be one of the main factors encouraging development of flexible packaging. In addition, the rise of emerging economies, increasing population, and expendable incomes of consumers in these regions are anticipated to drive market growth over the forecast period. Key market players include Huhtamäki Oyj; Amcor Limited; Berry Global Group; and Bemis Company, Inc.
In-Depth Research Report On Medical Flexible Packaging Market:
https://www.grandviewresearch.com/industry-analysis/medical-flexible-packaging-market
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