The medical packaging films market is expected to witness robust growth, rising from its previous valuation of US$ 14,092 million in 2017
ALBANY, NEW YORK, UNITED STATES, September 16, 2020 /EINPresswire.com/ — The medical packaging films market is expected to witness robust growth, rising from its previous valuation of US$ 14,092 million in 2017. The rising demand for pouches, bags, and sachets for therapeutic medicines, and increased therapeutics for chronic illnesses like cancer will drive major growth for the market during 2018-2026. The market will likely rise at a robust CAGR of 5.9%. Moreover, the rising elderly population, and increased prevalence of diseases like diabetes will also promise new opportunities for growth in the market.
Among various packaging options in the market, the lidding are worth watching out for as they offer more sealing area for packaging, making them more attractive to the pharmaceutical production. Moreover, the bags and pouches are also expected to open robust opportunities in the near future. The relative ease of operation in opening these, and wide range of space for dressings, syringes, and catheters among others will drive robust growth for the segment during 2018-2027.
Among regions, North America is expected to hold its dominant share of the global market with rising innovations and growing investments. The rising demand for chronic illnesses and therapeutics will also create several opportunities in the market. Asia Pacific region will likely register robust growth as access to healthcare continues to rise with rising diposable incomes, and new product launches create new opportunities for growth.
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Blister Strips with Aluminium Strips Promise New Opportunities for Growth
Blister Strips with Aluminium Packaging Promises New Opportunities for Growth to provide more protection for wounds, and decrease the risk of possible infection spread. The rising cases of accidents, and increased fire-burn incidences, among others will create new opportunities for growth for this segment. Moreover, increasing concern about infections, and increasing cases of infection-spread in hospitals, will drive growth of the medical packaging films market. These products also provide moisture resistance, and their high-barrier in medical packaging will drive growth for the medical packaging films market.
SBC Coated Films to Promise New Opportunities for Growth
The introduction of super barrier-coated films or SBCs are expected to fuel growth during the forecast period. These high barrier packaging prevent entry of gases and prevent permeation of nitrogen, oxygen, and water vapour. The new products in the market are a promising alternative to conventional cold-formable and thermo formable medical packaging films. Their patient-centric nature, and their innovative blister packs will promise new opportunities for growth for players in the medical packaging films market.
Medical Packaging Films Market (Material Type – Plastic, Aluminium, Oxides; Product Type – High Barrier Films, Co-extruded Films, Formable Films; Application – Blister Packs, Bags & Pouches, Lidding, Sachets, Tubes, Others; End Use – Pharmaceuticals, Medical Devices) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026
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The global medical packaging films market has been segmented on the basis of material type, product type, application, end-use, and region.
The various material types considered in the medical packaging films market study include plastic, aluminum, and oxides. Of these, the plastic medical packaging films segment accounts for the lion’s share of the global medical packaging films market.
On the basis of product type, the global medical packaging film market has been segmented into high barrier films, co-extruded films, and formable medical packaging films. The high barrier segment has been further subdivided into two categories, which include metallized and coated medical packaging films. The metallized films segment is expected to heavily dominate during the forecast period, accounting for more than 70% of the metallized medical packaging films demand.
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Key players considered in the report on medical packaging films market include 3M Company, Winpak Ltd, Bemis Company, Inc., Dunmore Corporation, Berry Global Group, Inc., Honeywell International, Toray Plastics (America), Inc., Klöckner Pentaplast Europe GmbH & Co. KG, Glenroy Inc., and Renolit Group.
Source: EIN Presswire