Medical Packaging Films Market Regional Analysis:
North American Market Insights
The North American medical packaging films market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the rising advancement in medical technology and spiking healthcare expenditure, which are boosting the demand for and use of numerous medical products and medicines in the region. As per the data released by the World Bank, the health expenditure in the United States reached 10,921.01 U.S. dollars per capita in 2019. Hence, these factors are estimated to hike the growth of the market over the forecast period. Further, the significant proliferation in the population of aging people who are mostly dependent on medical services and products, is another major factor that is anticipated to further proliferate the growth of the market over the forecast period in the region.
APAC Market Insights
Furthermore, the Asia Pacific medical packaging films market is estimated to display notable market growth by the end of 2035. The growth of the market can be attributed to the dynamically rising demand for medical and pharmaceutical products in countries such as China, India, Malaysia, and so on. Besides this, the surge in disposable income, growth in the pharmaceuticals industry, along with expansion in the production of pharmaceuticals and medical apparatuses products are some other factors that are estimated to drive the market growth further throughout the projected time frame in the region. For instance, with an annual revenue of nearly USD 860 billion, Asia-Pacific topped the world in 2021 in terms of pharmaceutical and medical equipment manufacturing output.
