According to the latest market research study published by P&S Intelligence, the total size of the medical packaging films market was USD 7,904.2 million in 2023, and it will power at a rate of 6.1% by the end of this decade, to touch a value of USD 11,752.8 million by 2030.
The requirement for medical packaging films is widely driven by the high requirement for medical products and apparatus in response to the growing count of patients and the mounting aging populace globally, and the beginning of improved packaging solutions to offer protection to concerned products.
An increase in healthcare spending is the main growth driver for the medical and pharma industry and hence provides a boost to the requirement for numerous protective packaging materials for suitable handling of needed products from their transit to end-use.
The high investment is due to the high predisposition of governments to invest in medical infra to offer required and cutting-edge healthcare facilities to the masses, the increasing living standards, the rising aging populace, and the growing R&D actions by companies.
APAC generated a substantial value, and it will also grow at a healthy rate of 6.5% ibn the years to come. This is credited to the growing requirement for pharma, because of the augmented healthcare outlay, improved obtainability of pharma and medical devices particularly for chronic ailment treatment, the rising aging populace, the increasing occurrence of chronic ailments, and the facility of support of the government and incentives in the region.
It is because of the increasing aging population around the world, the demand for medical packaging films is on the rise. This trend will continue in the years to come as well.
