The Medical Flexible Packaging Market size in Europe is predicted to grow USD 13.13 billion by 2027 and USD 9.92 billion in 2022, growing at a CAGR of 5.77% during the forecast period.
Medical flexible packaging offers product safety, ease of shipment, and reduced storage and shipping space, all of which save warehousing and shipping costs. Contamination is not a concern with medical flexible packaging. The smooth surface on the water-resistant medical flexible packaging prevents particulates from polluting it. Medical flexible packaging is ideal for single-use applications. This is particularly useful in the packaging of single-use goods, which are becoming more popular to avoid cross-contamination.
As the global pharmaceutical industry expands, medical product expenditure is expected to rise, which is expected to accelerate the medical flexible packaging market's growth rate directly. Hygiene is critical in flexible medical packaging to protect the interests of end-users. To keep medical supplies clean and increase their shelf life, sterilization has become essential, further projected to raise the need for flexible medical packaging.
The expansion of medical flexible packaging in the European region is also projected to be influenced positively by rising population, disposable income, and healthcare expenditure. Because health care is an essential component of any country's economic growth and an indicator of social safety net facilities, the healthcare industry is developing rapidly. Furthermore, the European market for medical flexible packaging is projected to be driven by the improved and availability of healthcare facilities around Europe.
The economic outlook and government aid are likely to impact healthcare facility spending in remote areas. Lack of awareness about healthcare facilities and infrastructure are primary factors that are expected to hamper the market's growth rate during the forecast period. In addition, the market price trend is likely to be hindered by increasing chronic illnesses and proper government policies, and budgeting for the market.
This research report on the European medical flexible packaging market has been segmented and sub-segmented into the following categories:
By Application:
By Material:
By Packaging:
By Country:
There has been an increase in packaging needs among all the regions because retail companies have been rising in these places. Medical device market expansion in Europe, increasing healthcare expenditure on medical technology, and a trend toward innovative medical equipment packaging drive the industry. Furthermore, the industry is expected to develop in line with expanding the medical device market in Europe. With the coronavirus pandemic, however, there are growing worries about cleanliness and safety, which might increase the usage of plastic packaging solutions in Europe. In addition, the surge in medical device distribution has increased the need for single-use packaging, which has influenced the demand for polystyrene, polyethylene, and plastic packaging materials.
Among various nations of Europe, the UK market is forecasted to lead the market during the forecast period. Growing demand for medical flexible packaging, Y-O-Y growth in the aging population, increasing disposable income, and rising prevalence of chronic diseases are primarily supporting the market growth in the UK.
KEY MARKET PLAYERS:
Companies dominating the European medical flexible packaging market profiled in this report are Winpak Ltd., Sealed Air Corporation, Huhtamaki Oyj, Amcor, Daetwyler Holding, Catalent Pharma Solutions, Mondi Group, Westrock Company, Aptar Group, Berry Plastics Group, and Becton Dickinson & Company.
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