Description
Global Medical Packaging Paper Market
Global Medical Packaging Paper market to surpass USD 57.23 billion by 2030 from USD 26.35 billion in 2020 at a CAGR of 8.06% in the coming years, i.e., 2021-30.
Product Overview
Paper packaging materials have a number of advantages, including the fact that they are easily recyclable, light, and long-lasting. It functions as a barrier to keep microorganisms out of the product. The industry offers a wide range of medical packaging options. Containers, wrappers, and other similar items are among them. Medical packing aids in the protection of items against contamination. Especially due to the COVID19 Outbreak globally, people have become more serious about hygienic packaging which has increased the need for germ-free products and efficient packaging.
Market Highlights
Global Medical Packaging Paper market is expected to project a notable CAGR of 8.06% in 2030
One of the main reasons driving the market’s growth is the rising demand for improved healthcare and medical facilities, as well as increased medical awareness among consumers throughout the world. The industry is being driven by the expanding pharmaceutical market in emerging nations and the expansion of drug delivery methods. Flexible packaging solutions are widely used in the medical and pharmaceutical industries due to product diversity, low weight, ease of disposal, and the need for less raw material, all of which are driving market expansion.
Recent highlights in the Global Medical Packaging Paper Market
In October 2019, Acelity, Inc. and its KCI subsidiaries were acquired by 3M on a global scale. Under the KCI brand, Acelity is a prominent worldwide medical technology business focused on improved wound care and specialty surgical applications. 3M’s position as a leader in advanced wound care, a large and expanding market area, was boosted by this purchase.
In February 2019, West Pharmaceutical Services announced two-line expansions, including its AccelTRA Select EU configurations available in Ready-to-Sterilize (RS) and Ready-to-Use (RU) steam for clients in North America that want a high-performing elastomer and regulatory assistance, as well as its AccelTRA ready-to-sterilize (RTS)/ready-to-use (RTU) component line, with the RTS option now accessible for clients outside of North America that want a high-performing elastomer and lead-time programme support.
Global Medical Packaging Paper Market: Segments
Pouches and bags segment to grow with the highest CAGR during 2020-30
Global Medical Packaging Paper market is segmented by Packaging type into Trays, Boxes, Pouches and bags, and others. Among these the pouches and bags category dominated the market in 2020, accounting for the bulk of global sales. A wide range of medical goods are packaged in pouches and bags. In the healthcare business, Amcor is a prominent manufacturer and supplier of pouches and bags. Over the projected period, the market is likely to be driven by the development of customized pouches and bags with high-barrier packaging.
Intelligent packaging segment to grow with the highest CAGR during 2020-30
Global Medical Packaging Paper market is segmented by End-User into Hospitals, Clinics, Forensic and Pharmaceutical manufacturing. Among these, the pharmaceutical manufacturing category had the highest revenue share of more than 29% in 2020. The demand for packaging materials in this end-use category is being driven by manufacturers’ desire to establish an in-house packing facility.
Market Dynamics
Drivers
Increasing incidence of chronic diseases and technological advancements
The rising prevalence of chronic illnesses such as hypertension, diabetes, and cancer would boost the medical packaging market’s growth. In addition, technological advances in the medical and healthcare industries, such as the use of IoT devices, will boost market growth. The global medical packaging industry will benefit from rising concerns about providing better services to consumers and government efforts.
Efficient medical packaging helps to secure the products from any contamination
Paper and paper boards used in medical packing offer a number of advantages. They are lightweight, simple to handle, and recyclable. In addition, market growth is projected to be fueled by significant industrial and technical advances in the next years.
Restraint
Strict Regulation
Several constraints might impact the medical packaging industry. One of the biggest limitations is strict regulation. It takes time to package medical items in an efficient and sanitary manner. However, strict control is required to safeguard the product from contamination. It is critical that items are packaged in accordance with regulations. Otherwise, even a tiny flaw might lead to contamination and have a significant impact on the patient’s life. These issues may limit the growth of the medical packaging market to some extent.
Global Medical Packaging Paper Market: Key Players
Amcor Plc
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Constantia Flexibles Group GmbH
Cosmo Films Ltd
Essel Propack Ltd
Jindal Poly Films Ltd
Oji India Packaging Pvt. Ltd
Tetra Laval International SA
TPCL Packaging Ltd
UFlex Ltd
Uma Group
Global Medical Packaging Paper Market: Regions
Global Medical Packaging Paper market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Medical Packaging Paper market in North America held the largest market share in the year 2019. In the forecast period, the medical packaging market is expected to be dominated by North America. Favorable government policies and regulations, improved healthcare infrastructure, and high consumer expenditure on healthcare are all contributing to the market’s growth. The United States is the most important country in the area, accounting for the majority of the total.
Global Medical Packaging Paper Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – China, Japan, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Medical Packaging Paper Market report also contains analysis on:
Medical Packaging Paper Segments:
By Packaging Type:
Trays
Boxes
Bags & Pouches
Others
By Packing Type:
Primary
Secondary
Tertiary
By Application:
Medical Tools & Equipment
In-Vitro Diagnostic Products
Medical Devices
Others
By End-User:
Hospitals
Clinics
Forensic
Pharmaceutical manufacturing
Medical Packaging Paper Market Dynamics
Medical Packaging Paper Market Size
Supply & Demand
Current Market Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Medical Packaging Paper Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 28.46 billion
Revenue forecast in 2030 USD 57.23 billion
Growth Rate CAGR of 8.06% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD billion and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Packaging type, Packing type, Application, End-user, and Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Amcor Plc, Constantia Flexibles Group GmbH, Cosmo Films Ltd, Essel Propack Ltd, Jindal Poly Films Ltd, Oji India Packaging Pvt. Ltd, Tetra Laval International SA, TPCL Packaging Ltd, UFlex Ltd, Uma Group, and Other Prominent Players.
Frequently Asked Questions
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