Global Medical Flexible Packaging Market
The GMI Research foresees an expansion in the demand of the Medical Flexible Packaging Market over the forecast period. This is because of the favourable strategies such as acquisitions, mergers, and product innovations and increasing endorsement across healthcare, food & beverage, and personal care.
Medical Flexible Packaging Market Dynamics
The increasing accessibility of home healthcare services and ongoing modernisations in the establishment of pharmaceutical items and medical instruments has supplemented the growth of the global medical flexible packaging market. In addition, the expansion in healthcare sector is complementing the market growth. Besides this, various benefits offered by flexible packaging such as product variation, assistance in preventing medical products from biological pestilence and damage, lighter weight, and easy disposal are other drivers responsible for the market growth. In accordance with the survey by Flexible Packaging Association (FPA) covering 2,120 consumers, approximately 60% consumers were ready to spend more for physical and serviceable packaging features that include easy storage, operability, and reseal which is propelling the Medical Flexible Packaging Market Share.
As stated by the World Bank, the expenditure on healthcare expenditure accounts to be nearly 9.8% of the nation’s GDP in 2018. This was owing to the aggravated emphasis on the development of medical products to prevent the chances of diseases. Furthermore, the widespread outburst of the coronavirus pandemic supplemented the expenditure on fabrication and expansion of non-toxic medical tools, medicines, and devices. Thus, all this together will bolster the Medical Flexible Packaging Market Size.
However, variations in the raw material prices and excessive production cost of adjustable packaging products for medical and pharmaceutical instruments will hinder the market growth.
Medical Flexible Packaging Market Segmentation:
Segmentation by Material Type
· Aluminium
· Steel
Segmentation by Product Type
· Cans
· Bulk Containers
· Shipping Barrels and Drums
· Caps and Closures
· Others
Segmentation by Vertical
· Food and Beverage
· Industrial
· Cosmetic and Personal Care
· Paints and Varnishes
· Automotive
· Household
· Others
Segmentation by Region:
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· RoW
o UAE
o Brazil
o South Africa
o Saudi Arabia
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