The Medical Flexible Packaging Market size in North America is projected to change from USD 16.60 billion in 2022 to 21.70 billion in 2028, growing at a CAGR of 5.5% during the forecast period.
Attractive packaging, product protection, increased transport efficiency, a helpful tool for branding and identification, and better supply chain management are likely to propel the North America Medical flexible packaging market forward. Furthermore, in the presence of technological advancements in material selection and consumer awareness of environmental protection, the area sees a substantial shift toward throwaway packaging options. Together with the region's high disposable income and growing healthcare expenditure, this feature is projected to drive market expansion.
Furthermore, the pharmaceutical market in the United States has been expanding rapidly in recent years due to growing chronic illness prevalence, an older population, and advances in pharmaceutical research and development. In addition, the industry is being driven by the expanding pharmaceutical market in emerging nations and the expansion of drug delivery methods. Flexible packaging solutions are widely used in the medical and pharmaceutical industries due to product diversity, low weight, simplicity of disposal, and the need for fewer raw materials, which is propelling market expansion.
Medical flexible packaging helps maintain the hygiene and health of medical devices while providing pricing and product difference. North America is providing enormous opportunities for the medical device and pharmaceutical sectors, driving demand for medical flexible packaging. To produce new technologically-driven items, manufacturers are focusing on combining and expanding data analytics with manufactured products. These variables may have an impact on market growth in the next few years. The most lucrative product on the market will continue to be sealed, followed by high-barrier films. Pouches and bags were the market's most important product group in 2020. The demand for these goods is driven by the fact that they are accessible in various sizes and have a wide range of applications in a variety of end-use industries.
Government regulations governing polymers and the recycling of packaging materials may inhibit the market growth. During the forecast period, the North American market is expected to be constrained by stringent regulatory policies on processes and the high costs connected with various devices.
This research report on the North American medical flexible packaging market has been segmented and sub-segmented into the following categories:
By Application:
By Material:
By Packaging:
By Country:
Among all the regions, North America was the largest market in 2020 and is expected to hold that position during the forecast period. There is a rapid increase in medical device and implant industries with specialized packaging needs. In the worldwide medical flexible packaging industry, North America has a large market share. An improving economic outlook and greater barrier material innovation are driving product demand in North America. Furthermore, significant firms like Amcor and Bemis are projected to contribute to regional growth during the forecast period. As advanced medical product manufacturers in the country commercialize high-end and value-added equipment, devices, and supplies that require additional packaging, the United States remains a key market. A better economic outlook and increased innovation in barrier materials drive product demand in the North American area. Furthermore, as medicine delivery methods such as IV bags and feeding bags become more popular, the product demands increase. The flexible packaging business in the United States is thriving due to the industry's ability to develop inventive solutions to many of the issues it faces. According to the Flexible Packaging Association, brand owners are adopting films, pouches, and bags as go-to packaging solutions, owing in part to widespread consumer acceptance in the United States.
KEY MARKET PLAYERS:
A few of the prominent companies participating in the North America 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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