Medical Grade Foil Market: Overview
- Medical grade foils can be used under a wide range of temperatures. They can be peeled and pierced. They are solvent resistant and they adhere to a wide range of substrates.
- Medical grade foils, such as high-barrier medical and pharmaceutical aluminum foils and film laminations, are employed to maintain product efficacy and protect products from oxygen, moisture, chemicals, UV light, visible light, and bacteria.
- Aluminum foils are combined with polyamide- or polyethylene-based films for attaining heat seal, lint-free easy peel, protection from sharp edges of packed devices, and increased robustness. Aluminum-foil-based pouches are sterilized by treating them with gamma radiations.
- Drug pills are usually packed in blisters. Blisters are usually made of a plastic film and an aluminum foil. The plastic film is shaped in order to create a cavity where the pill can fit and the cavity is sealed by the aluminum foil.
Rising Demand for Pharmaceuticals to Drive Global Medical Grade Foil Market
- High-quality drugs need packaging, in which they are protected from environmental factors, oxygen, and moisture. Blister packs are often used for packaging of drug pills in the pharmaceutical industry.
- The global pharmaceutical industry is growing. As a result, the demand for aluminum foils for blister packaging of drugs is steadily increasing.
Applications of Medical Grade Foils
- Based on application, the global medical grade foil market can be segmented into medical devices, medicines, and others. Being lightweight and yet tear-resistant, aluminum foils can be folded in several methods, which makes them suitable for use in packing and wrapping of different products. In the pharmaceutical industry, aluminum foils are employed to protect drugs from external factors during transportation and storage.
Banned Plastic Usage to Provide Opportunities to Global Medical Grade Foil Market
- Plastic is largely used for various applications and thus, plastic pollution has become a significant environmental concern. A majority of booming industries, such as food & beverages, pharmaceutical, packaging, and e-commerce, are significant end-users of plastic packaging solutions. Rising awareness about plastic pollution and its adverse effects on the environment has prompted governments of several countries across the globe to take initiatives, such as plastic recycling, and impose regulations to curb plastic waste generation. However, since plastic recycling is not completely effective, industries are opting for alternative packaging solutions such as aluminum foils. This is likely to significantly drive the global market for medical grade foils during the forecast period.
North America to Hold a Major Share of Global Medical Grade Foil Market
- In terms of region, the global medical grade foil market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to hold a major share of the global medical grade foil market during the forecast period, due to presence of a large number of medical device manufacturers in this region
- Growing prevalence of chronic diseases, increasing adoption of technologically advanced medical devices, increasing GDP, and strong presence of leading vendors in North America are boosting the medical devices industry in the region. This, in turn, is expected to fuel the medical grade foil market in North America during the forecast period.
- The medical grade foil market in Asia Pacific is expected to expand rapidly during the forecast period, due to increasing per capita income, growing elderly population, rising disease awareness, and improving health care infrastructure in the region
Key Players Operating in Global Market
The global medical grade foil market is fragmented, with market players focusing on adopting advanced technologies to gain higher market share. Online portals are used by various companies as a mode for selling their products. These players offer a complete portfolio of products and focus on different business strategies to strengthen their market position.
Key players operating in the global medical grade foil market include:
- Parafix Tapes & Conversions Ltd.
- Bemis Company, Inc.
Global Medical Grade Foil Market: Research Scope
Global Medical Grade Foil Market, by Application
- Medical Devices
Global Medical Grade Foil Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Interested in this report?
Get a FREE Brochure now!