The global medical flexible packaging market is anticipated to grow significantly at a CAGR of 6.0% over the forecast period (2024-2031). The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For an instance, in January 2021, Catalent, Inc., announced that it has signed an agreement with Acorda Therapeutics, Inc. Under the terms of the agreement, Catalent will acquire Acorda Therapeutics’ 90,000 square-foot, FDA-inspected CGMP facility in Chelsea, Massachusetts, US.
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In addition, the site operates best-in-class spray drying capacity, including GEA NIRO PSD-1, PSD-4, and PSD-7 spray drying units, with the latter unit being the largest equipment of its kind in North America. The site will provide Catalent with significant commercial-scale capacity for new customer programs. The facility will act as a global center of excellence within the Catalent network for spray-dried dispersion and dry powder encapsulation and packaging.
Apart from this, the bioplastics segment is expected to be the fastest-growing segment during the forecast period. Within the hospital setting, plastics can be used in consumables such as syringes and tubing, medical-grade gloves, and even trays and cups used by patients. Each product represents an opportunity to reduce the amount of non-degradable waste produced by the hospital. Thus, there is an increased demand for bioplastics to reduce the non-degradable waste produced by using plastics.
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Market Coverage
- Segment Covered- by Material, by Packaging, and by End-user.
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Amcor PLC, Catalent Pharma Solutions, and Becton Dickinson and Company, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Medical Flexible Packaging Market – Segmentation
By Material
- Plastics
o Polyvinyl Chloride
o Polypropylene
o Polyethylene Terephthalate
o Polyethylene
o Others
- Paper
- Aluminum
- Bioplastics
By Packaging
- Seals
- High Barrier Films
- Wraps
- Pouches & Bags
- Others (Lids & Labels)
By End-User
- Pharmaceutical Manufacturing
- Medical Device Manufacturing
- Implant Manufacturing
- Others
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