The global medical packaging films market is forecast to reach USD 8.58 Billion by 2026, according to a new report by Reports and Data. Different market factors are supporting the market expansion. One of the mentionable factors being the continuous focus on R&D activities by various market players. The emphasis on R&D activities has resulted in the development of products like- the antibiotic films which emits ozone or smart films that are effective in emitting antioxidants, absorbs gases.
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The emerging and present key participants in the Medical Packaging Films market are:
Berry Global Group, Renolit, Dowdupont, Amcor, Polycine GmbH, Weigao Group, 3M, Covestro AG, Wipak Group, and Glenroy.
The changing consumer preference has resulted in an increasing demand for bioplastic material. For catering to such changing consumer preference and stay relevant to market demand, key players are launching new products. As an instance, in 2018.
For the purpose of this report, Reports and Data have segmented the medical packaging films market according to Product Type, Material, Film structure, Application, and Region:
Product Type Outlook (Revenue, USD Billion; 2016-2026)
- Thermoformable Film
- Metallized Film
- High Barrier Film
Material Type Outlook (Revenue, USD Billion; 2016-2026)
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polyamide (PA)
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Film structure Type Outlook (Revenue, USD Billion; 2016-2026)
- Single films
Application Type Outlook (Revenue, USD Billion; 2016-2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Colombia)
Further key findings from the report suggest:
- The medical packaging films market held a market share of USD 5.70 Billion in the year 2018 with a growth rate of 5.1% during the forecast period.
- In context to Product type, the High Barrier Film segment generated the highest revenue of USD 2.74 Billion in 2018 with the second-highest growth rate of 5.4% during the forecast period. Factors like increasing demand for healthcare products with extended shelf life along with the minimal scope of bacterial contamination, and effectiveness of this type of product in providing with an effective barrier from gas, moisture, water results in its increased preference in healthcare & pharmaceutical industry and contributes to the revenue generated by this segment.
- In context to Film Structure, the Coextrusions segment held the largest market share of 56.0% in 2018, with the second-highest growth rate of 5.2% during the forecast period. The occupied market share by the Coextrusions segment is attributed to its ability to provide with multilayer film structure at a lower cost as compared to other film structure. The applicability of this film structure on varied materials like polyvinyl chloride, polypropylene, is another factor contributing to its occupied market share.
- In context of Application, the Bags segment occupies the largest market share of 65.0% in 2018, with the fastest growth rate of 5.6% during the forecast period. The extensive requirement of medical bags in healthcare sector contributes to the segment’s occupied market share. Its growth rate is the result of the increasing demand for low-cost packaging in the pharmaceutical and healthcare industry.
- Understand the demand for global Well Testing Services to determine the viability of the market.
- Identify the developed and emerging markets where Well Testing Services are offered.
- Identify the challenge areas and address them.
- Develop strategies based on the drivers, trends and highlights for each of the segments.
- Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed.
- Recognize the key competitors of this market and respond accordingly.
- Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth.
- Define the competitive positioning by comparing the products and services with the key players in the market.
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