New York, Aug. 28, 2019 (GLOBE NEWSWIRE) -- The increase in the demand for Bioplastic Material, the rising popularity of Bi-Axially Oriented Films, and the elevated demand for Sustainable Packaging Solutions has resulted in boosting the medical packaging films market.
The global medical packaging films market is forecast to reach USD 8.58 Billion by 2026, according to a new report by Reports and Data. Different market factors are supporting the market expansion. One of the mentionable factors being the continuous focus on R&D activities by various market players. The emphasis on R&D activities has resulted in the development of products like- the antibiotic films which emits ozone or smart films that are effective in emitting antioxidants, absorbs gases. Changing consumer preference and increasing environment concerns among consumers is another mentionable factor which are opening up new avenues for the operation of the market. The changing consumer preference has resulted in an increasing demand for bioplastic material. For catering to such changing consumer preference and stay relevant to market demand, key players are launching new products. As an instance, in 2018, Amcor, a mentionable market player had innovated two sustainable packagings, namely- PolyInert laminates and AluFix Retort Xtra, which has gained popularity for its efficacy and enhanced consumer convenience.
Different inorganic strategies opted by market players have also resulted in spurring the growth of the overall market. In August 2018, Bemis Company, Inc. (US) was acquired by Amcor Limited in an all-stock combination. Such initiatives help in enhancing R&D capacities and increase their geographical presence, which, in a way, helps in the expansion of the overall market.
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Further key findings from the report suggest
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the medical packaging films market according to Product Type, Material, Film structure, Application, and Region:
Product Type Outlook (Revenue, USD Billion; 2016-2026)
Material Type Outlook (Revenue, USD Billion; 2016-2026)
Film structure Type Outlook (Revenue, USD Billion; 2016-2026)
Application Type Outlook (Revenue, USD Billion; 2016-2026)
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Regional Outlook (Revenue, USD Billion; 2016-2026)
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