Medical Packaging Paper Market Witness a Spike in Growth Pace Recent Improvements in Pricing Models: FMI

Medical Packaging Paper Market Overview

The medical packaging paper market is expected to grow at a CAGR of 6.0% during the forecast period 2021-2031. Continuous development and implementation of new technologies/products such as medical-grade packaging papers and 3D packaging technology is 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.

What is Driving Demand for Medical Packaging Paper?

Medical packaging paper provides a wide range of applications such as paper-to-paper and paper-to-film flexible pouch, 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, rise in demand for counterfeit prevention mechanisms and others.

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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 the healthcare and pharmaceutical packaging applications such as medical/surgical Kraft, reinforced medical Kraft, suture stock

medical indexing, coated medical lidding and others.

What is the impact of COVID-19 Pandemic Outbreak on Sales of Medical Packaging Paper?

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 percent 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 Medical Packaging Paper Market Outlook

North America is one of the largest provider for 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 America medical packaging paper market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031.

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U.S. is the dominant country in the North America medical packaging paper market, accounting for around 25%-30% of the market share in 2021. The medical packaging paper offer a wide variety of features including highly safer, more reliable, more flexible packaging, and others. The reliability of such features drives the growth for medical packaging paper market.

South Asia & Pacific Demand Outlook for Medical Packaging Paper

The market in South Asia & Pacific is anticipated to witness high growth rate over the forecast period and reach USD ~900 Million in 2021 owing to the increase in government funding on 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 the India, Indonesia and Australia.

New Product Launch and partnerships & collaborations are the key strategy followed by the top players in the South Asia & Pacific market to increase business revenue, and drive new innovations in products/services which enables medical packaging paper manufacturer & provider to reach new potential markets across the globe.

Who are the Key Manufacturers and Suppliers of Medical Packaging Paper?

Some of the leading manufacturers and providers of medical packaging paper include

• Twin Rivers
• Domtar Corporation
• Bomarko Inc.
• PMS International
• Amcor plc
• KJ Specialty Paper Co., Ltd.
• Oliver Healthcare Packaging, LLC, and others.

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 assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides 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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Medical Packaging Paper Market Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

NOTE – All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.