Medical Flexible Packaging Market Report: Company Analysis, History and Future Overview, Global Sales Trends by 2025
Hamburg, Germany -- (SBWIRE) -- 06/06/2019 -- The demand for medical flexible packaging is foreseen to increase on the back of its high adoption due to a number of advantages such as product protection, easy shipping, and low wastage. The rise of the medical device and pharmaceutical industries is expected to further push the demand for medical flexible packaging. Vendors are anticipated to consider acquisition as a strategy for expanding their product portfolios. In April 2019, Tekni-Plex, a US provider of medical tubing and packaging for medical devices, signed the acquisition of three flexible packaging manufacturing facilities of Amcor, an Australia-based global packaging company.
Four Key Takeaways from the Research Study:
? Growth of the global medical flexible packaging market is forecast to increase with the rising need to prevent damage of medical products and avoid wastage in medical device and pharmaceutical manufacturing
? Adoption of plastic materials to manufacture medical flexible packaging products is prophesied to increase during the forecast period
? Asia Pacific could take over North America with a higher consumption value
? The competitive landscape could be filled with a large number of companies operating in the global medical flexible packaging market
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Players to Leverage Regional Presence to Increase Market Growth:
The global medical flexible packaging market is foretold to witness the presence of a significant number of players with strong regional influence. The report covers major players such as Amcor Limited, Mondi Group Plc, Bemis Company, Inc., Huhtamaki Oyj, and Sealed Air Corporation. It also sheds light on emerging companies including Constantia Flexibles Group GmbH, Dätwyler Holdings, Becton Dickinson and Company, AptarGroup, Inc., Catalent, Inc., Reynolds Group Holdings, Coveris Holdings S.A., Sonoco Products Company, and Berry Group, Inc.
Medical Flexible Packaging Helps to Maintain Hygiene of Medical Devices
The need to maintain the hygiene value of medical devices is predicted to increase the requirement of medical flexible packaging. Medical device and pharmaceutical manufacturers use medical flexible packaging to reduce the weight of products and avoid their damage. Furthermore, medical flexible packaging is used as a means of attracting consumers, effectively managing the supply chain, and increasing the efficiency of the transportation of products in the medical device and pharmaceutical industries.
America's Bemis Company is one of the leading players of the global medical flexible packaging market. It mainly offers rigid and flexible plastic packaging solutions for medical, pharmaceutical, and also other industries. According to its press release in May 2019, the company's shareholders gave the green signal for its combination with Amcor. For Q1 2019, the company reported strong earnings results.
By Material Type-
? Polyvinyl Chloride
? Polyethylene Terephthalate
? Lids and Labels
According to researchers, plastic materials such as polyethylene, polyethylene terephthalate, polypropylene, and polyvinyl chloride are projected to rank higher in the global medical flexible packaging market in terms of market share and consumption. Contrastingly, aluminum is expected to show slow market growth in the coming years.
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In the past, North America accounted for a substantial share of the global medical flexible packaging market in terms of consumption. However, analysts expect Asia Pacific to take the lead in the global market in the near future. This could be due to the rise of the healthcare industry in the emerging region.
Methodology Used to Compile the Report:
The report offers thorough analysis and deep insights of the global medical flexible packaging market with the help of SWOT, qualitative and quantitative, Porter's Five Forces, and other types of analysis. The primary and secondary sources used are highly reliable and authentic enough to deliver accurate market data and findings. Key segments and sub-segments were identified and their market size and share were accurately estimated using market breakdown and data triangulation procedures. The objective of the report is to provide critical information and data in the best manner possible while keeping accuracy in close view.
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