The
flexible packaging is well suitable for single-time use. This is especially
beneficial in the packaging of single-use products, which are becoming
increasingly popular to avoid the risk of cross-contamination. The products can
be sterilized along with the packaging, which has reduced the chance of
contamination while manufacturing the products.
The
most widely used materials in the market are plastics followed by metal, paper,
and bioplastics. Bioplastics are becoming increasingly popular due to
government regulations regarding plastic usage & waste, as well as
initiatives by several companies to adopt sustainable operations. The high
tensile strength and the wide variety of products available in plastics, along
with its low cost, have made it a preferable choice over its metal counterparts
for packaging in the healthcare industry.
High-barrier
films are largely utilized across the healthcare industry as they prevent the
permeation of light, gas, flavor, aroma, oxygen, oil, water vapor, and water.
These films are available in a wide variety, making them compatible with most
equipment and drugs; additionally, most high-barrier film providers offer
packaging made from a variety of materials to establish a one-stop solution for
drug & equipment manufacturers. The high-barrier films segment is thus
expected to show the highest growth rate over the forecast period.
Biologics
and other such patient-oriented medicines are expected to have a positive
impact on the pharmaceutical manufacturing end-use segment. The demographic
trends, such as increasing cases of obesity as well as growing aging
population, are expected to drive the segment further. In addition, the
advancements in bioengineering and rising awareness about cosmetic implants are
aiding the implant manufacturing segment.
Related Press
Release @ Medical
Flexible Packaging Market Report
Medical Flexible Packaging Market Report Highlights
- The plastics
material segment dominated the market with a revenue share of 74.39% in
2020 and will grow steadily over the forecast years due to the easy
availability of superior-quality medical-grade plastics
- In addition,
growing research & development activities focused on inducing inert
properties in plastics are expected to increase the demand for plastics in
new applications
- Pouches and
bags accounted for the largest revenue share in 2020. Pouches & bags
are sturdy and lightweight, which makes them an ideal packaging solution
for numerous products, including ones that are usually packed in rigid
packaging
- Central
& South America is expected to witness a CAGR of 5.9% over the
forecast period on account of growing investments by private companies in
the healthcare sector and rising cases of chronic diseases across the
region
- Major
companies focus on mergers and acquisitions to expand their reach and
compete with rival companies. The merger valuations of companies in the
market are expected to increase as an attempt to achieve product
leadership in individual categories
- Restructuring
and divestment strategies are adopted as well to focus on particular
products to establish a monopoly for the same. Companies are expected to
find a balance between innovations and investments to establish an
eco-friendly and cost-effective process along with regulating price levels
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