Medical Flexible Packaging Market Size, Share & Trends Analysis Report By Material (Plastic, Paper, Aluminum, Bioplastics), By Product, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the medical flexible packaging market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for medical flexible packaging market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of medical flexible packaging market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Medical Flexible Packaging Market Categorization:

The medical flexible packaging market was categorized into four segments, namely product (Polyvinyl Acetate, Polymethyl Methacrylate, Polystyrene, Polyurethane, High-density Polyethylene), function (Anti-shrinkage, Pigmentation), application (Shrink & Bulk Molding Compounds, Pultrusion, Resin Transfer Molding), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The medical flexible packaging market was segmented into product, function, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The medical flexible packaging market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty countries, namely, the U.S.; Canada; Mexico; Germany; the UK; Italy; France; The Netherlands; Spain; China; India; Japan; South Korea; Australia; Malaysia; Brazil; Argentina; Saudi Arabia; UAE; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Medical flexible packaging market companies & financials:

The medical flexible packaging market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Amcor plc - Amcor plc is a major player in the market, with its primary businesses encompassing flexible packaging, rigid plastics, and tobacco & specialty packaging. Within the flexible packaging business, the company operates as two independent business units across two regions - Flexibles Europe, Middle East & Africa, and the Americas, and Flexibles Asia Pacific. The flexible packaging products of the company find applications in packaged foods, medical supplies, hospital supplies, pharmaceuticals, and personal care.

• AptarGroup, Inc. - AptarGroup, Inc.is a significant player in the market, offering a diverse range of packaging, dispensing, and sealing solutions for various sectors, including beauty, personal care, home care, prescription drugs, consumer healthcare, injectables, and food & beverage. In the pharmaceutical segment, the company provides pumps for nasal allergy treatments, metered-dose inhaler valves for respiratory ailments, and elastomeric primary packaging components for the injectable market, including stoppers for infusion, antibiotics, lyophilization, and diagnostic vials, as well as pre-filled syringe components such as plungers, needle shields, tip caps, cartridges, dropper bulbs, and syringe plungers. 

• BD (Becton, Dickinson and Company) - BD is a prominent player in the market, with a focus on developing, manufacturing, and selling a wide range of medical supplies, devices, laboratory equipment, and diagnostic products worldwide. It operates through two segments, namely BD Medical and BD Life Sciences. The BD Medical segment offers various products such as syringes, pen needles, IV sets for diabetes, needles, syringes, and intravenous catheters for medication delivery, automated medication dispensing and supply management systems, and pre-fillable drug delivery systems.

• Berry Global Inc. - Berry Global Inc. is a significant market player with a diverse product portfolio that includes packaging, protective solutions, tapes & adhesives, and stock catalogs. The company serves various industries such as personal care, food, beverages, hygiene, food service, healthcare, and transportation. Some of its major brands include Agribon, Agryl, Chicopee, and Covertran. 

• WINPAK LTD. - Winpak Ltd. is a major player in the market, manufacturing and distributing high-quality packaging materials and innovative packaging machines. The company caters to various industries, including food & beverage, industrial, healthcare, and packaging machinery. Its major product segments include healthcare packaging, rigid packaging, flexible packaging, packaging machinery & parts, and flexible lidding. 

• Sealed Air - Sealed Air is a major market player that serves a wide range of industries, including food and beverage processing, food service, retail, healthcare, industrial, commercial, and consumer applications. The company's major product segments encompass food care, product care, diverse care, and medical applications, reflecting its comprehensive offerings across various sectors. 

• Mondi - The Mondi Group is a multinational packaging and paper company with a global presence, employing around 21,000 people and operating across more than 30 countries. The company is fully integrated across the packaging and paper value chain, from the growing of wood and the manufacturing of pulp and paper to the conversion of packaging papers into various products. Mondi's major product categories include flexible packaging, films, corrugated packaging, industrial bags, and barrier coatings. The company caters to a wide range of industries, such as automotive, building & construction, chemicals, food & beverages, home & personal care, medical, and pharmaceutical packaging. Flexzi, one of Mondi's major brands, is specifically tailored to the medical industry. 

• Huhtamäki - Huhtamaki Oyj, a provider of packaging solutions, is a major market player with a global presence. The company's business segments include Foodservice EAO, Flexible Packaging, and Molded Fiber. The flexible packaging segment offers innovative, high-quality packaging and labels for food and drinks, pet food, household, hygiene, and pharmaceuticals segments. Additionally, the company caters to various industries such as automotive, building & construction, chemicals, food & beverages, home & personal care, medical, and pharmaceutical packaging. Huhtamaki's diverse product portfolio includes foodservice packaging, food & beverage packaging, non-food packaging, and fresh food packaging. 

• Coveris - Coveris is a major market player that manufactures and distributes paper and packaging products through its subsidiaries. The company's operations are classified into two main divisions based on the type of products manufactured, namely rigid packaging and flexible packaging. Coveris provides packaging solutions for various sectors, including food & beverages, household & personal care, medical, mailing & security, agricultural & chemical, pet care, food, and coatings. The company's technologies include extrusion & lamination, printing, converting, label manufacturing, and coatings. 

• WestRock Company - WestRock Company is a major player in the paper and packaging industry, manufacturing and selling paper and packaging solutions for the consumer and corrugated markets across North America, South America, Europe, and Asia. The company caters to various markets such as beverage, commercial printing, food, foodservice, healthcare, home & garden, retail, and tobacco. Its product segments include corrugated packaging, consumer packaging, and land and development. The medical flexible packaging products are manufactured under the consumer packaging segment. The healthcare solutions of the company include products for clinical research organizations, pharmaceutical companies, and retail pharmacies.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Medical Flexible Packaging Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Medical Flexible Packaging Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.