ALBANY, N.Y., Sept. 3, 2020 /PRNewswire/ -- The advances in the medicine and drugs sector are reaching new heights and transport of these drugs to numerous parts of the globe is gaining traction. Due to the increase in the transport of medical equipment and drugs, the demand for medical packaging films is on the rise, thus bringing extensive growth for the medical packaging films market through the forecast period.
The global medical packaging films market was valued at US$ 14,092 mn in 2017. The analysts at Transparency Market Research (TMR) foresee the global medical packaging films market to expand at a CAGR of 5.9 percent through the forecast period of 2018-2026.
The properties of medical packaging films to guard the product from water, oxygen, moisture, and other gases may invite massive growth for the medical packaging films market. The sustainability factor is penetrating deep into the medical packaging films market and may prove to be a game-changer in terms of growth.
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Medical Packaging Films Market: Major Findings
- Metalized medical packaging films segment may record a positive CAGR of 5.1 percent across the forecast period of 2018-2026
- The lidding segment may garner considerable growth
- Bags and pouches segment may provide good growth opportunities for the medical packaging films market during the forecast period
- North America may serve as the largest growth contributor across the assessment period
- Asia Pacific may record impressive growth for the medical packaging films market between 2018 and 2026
- China accounts for more than 60 percent of the global medical packaging films market
Explore 215 pages of cutting-edge research, extensive insights, and detailed projections. Analyze and discover the latest developments in the Medical Packaging Films Market (Material Type - Plastic, Aluminum, 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 at https://www.transparencymarketresearch.com/medical-packaging-films-market.html
Medical Packaging Films Market: Growth Accelerators
Sustainable packaging may provide immense growth prospects for the medical packaging films market throughout the forecast period of 2018-2026. In addition, medical packaging films are cost-effective and hence, this factor can serve as a prominent growth generator for the medical packaging films market.
- Continuous vaccination drives around the world in the context of various diseases and disorders may serve as a prime growth accelerator for the medical packaging films market
- Increasing expenditure by numerous countries on healthcare around the globe may also prove to be a prominent growth aspect for the medical packaging films market
- Escalating geriatric population may also prove to be a major growth prospect for the medical packaging films market
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Medical Packaging Films Market: Growth Restraints
The medical packaging films market is witnessing extensive growth but some obstacles may prove to growth dampeners. The prices of the raw materials involved in the production of medical packaging films are fluctuating constantly and this aspect proves to be a major growth restraint for the medical packaging films market. In addition, the stringent regulations by numerous countries in regard to the production of plastic is further proving to be a bane for the medical packaging films market.
Medical Packaging Films Market: COVID-19 Effect
The race for an efficient COVID-19 vaccine is in full throttle and once vaccines are approved after the crucial phase trials, the demand for medical packaging films is likely to increase to transport the vaccines to all parts of the globe. In addition, the use of medical packaging films for masks and PPE may also bring extensive growth prospects for the medical packaging films market.
Analyze global medical packaging films market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Medical Packaging Films Market: Key Players
Some well-entrenched players in the medical packaging films market are Dunmore Corporation, Toray Plastics, Renolit Group, Bemis Company, Inc., Klöckner Pentaplast Europe GmbH & Co. KG, and 3M Company.
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