The medical packaging paper market is expected to grow at a CAGR of 6.0% during the forecast period 2021 to 2031. Continuous development and implementation of new technologies/products such as medical-grade packaging papers and 3D packaging technology are expected to create new growth opportunities for medical packaging paper manufacturers and providers across the globe.
It also offers various benefits such as medical packaging, packaging for skin closures, medical wrap, suture wrap, and packaging for medical sharps, among others.
Medical packaging paper provides a wide range of applications such as paper-to-paper and paper-to-film flexible pouches, lidded rigid trays and OEM form fill and seal packaging. It is also used for blister packaging applications including prescription and over-the-counter medications, vitamins and supplements.
The market is projected to witness significant growth due to several factors such as the high-strength, high-barrier papers that may reduce manufacturing costs, the growing need for reliable and cost-effective medical packaging paper, the rise in demand for counterfeit prevention mechanisms and others.
The growing trend of cost-effective medical packaging paper along with technological advancements is creating new growth opportunities for medical packaging paper manufacturers and providers.
Most of the demand for medical packaging paper comes from healthcare and pharmaceutical packaging applications such as medical/surgical Kraft, reinforced medical Kraft, suture stock medical indexing, coated medical lidding and others.
Medical Packaging Paper sales around the globe have been impacted by the COVID-19-induced slowdown. The spread of COVID-19 has affected major markets such as Asia, and North America, Europe, and partially the Latin America, Middle East, and Africa.
Some facilities have been affected owing to the stoppage of construction and supply chain-related challenges.
During the COVID-19 pandemic, medical packaging paper production in China fall by up to 80% compared to normal volumes but recovered as the infection curve decreased and is now back to last year’s levels in both the medical and the clinical segments.
Increasing demand for medical packaging paper to promote the development of modern medical applications is expected to propel demand over the coming years.
North America is one of the largest providers of medical packaging paper globally. The demand for medical packaging paper is increasing owing to the wide range of flexible packaging and testing applications in the North American healthcare market.
The North American medical packaging paper market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031.
The U.S. is the dominant country in the North American medical packaging paper market, accounting for around 25%-30% of the market share in 2021. Medical packaging paper offers a wide variety of features including highly safer, more reliable, more flexible packaging and others. The reliability of such features drives the growth of the medical packaging paper market.
The market in South Asia & Pacific is anticipated to witness a high growth rate over the forecast period and reach USD ~900 Million in 2021 owing to the increase in government funding for the medical and healthcare sectors and rapid expansion of the industrial sector.
There are untapped opportunities for medical packaging paper manufacturers in emerging economies such as India, Indonesia and Australia.
New Product launches and partnerships & collaborations are the key strategies followed by the top players in the South Asia & Pacific market to increase business revenue and drive innovations in products/services which enables medical packaging paper manufacturers & providers to reach new potential markets across the globe.
Some of the leading manufacturers and providers of medical packaging paper include
Big manufacturers in the global medical packaging paper market are adopting inorganic expansion strategies such as acquisition to cater to the demands from wider geographic reach, whereas small players are strengthening their supply chain to sustain in the market.
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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