Medical Packaging Market Is Expected To Grow With a CAGR Of ~ 6.3% By 2023

Summary

Medical Packaging Market Opportunities, Size, CAGR, Growth, Trends, Future Scope: By Material (Film, Fabric, Tyvek), Type (Container, Vial, Tray, and Pouches), Application (Medicals, Research, Diagnostics, Plastic Industries), End User (Hospitals, Clinics, and Forensic) – Global Forecast till 2023

Medical Packaging Market Insight

Medical packaging plays a significant role in the safety of medical products. The global medical packaging market is touted to expand at a rapid pace with gripping 6.3% CAGR, during the forecast period (2017-2023), reveals Market Research Future in its comprehensive study. The market is expected to exceed the valuation of the revenue of present market during the progression period. The rise in the expenditure by the healthcare sector is going to play a noteworthy role in the market expansion of medical packaging.

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Key Players

The foremost market players in the global medical packaging market listed as

  • Amcor Limited (Australia)
  • Chesapeake Limited (U.S.)
  • DuPont (U.S.)
  • Klöckner Pentaplast Group (Germany)
  • MeadWestvaco Corporation (U.S.)
  • Mitsubishi Chemical Holdings Corporation (Japan)
  • Bemis Company Inc. (U.S.)
  • West Pharmaceutical Services, Inc. (U.S.)
  • 3M company

Market Segmentation

The global medical packaging market, as per the study, has been segmented by material, types, application, and end-user.

In terms of material, the market splits into sterilization, Tyvek, foam, molded fiber, fabrics, plastics, films, adhesives, and many more.

In terms of the type, the market splits into containers, pouches, trays, blister packets, clamshell packs, vials, and more.

In terms of the application, the market segments into medical, pharmaceuticals, diagnostics, plastic industries, chemicals and research, and many more.

In terms of end-user, the market splits into hospitals, clinics, medical and research centers, forensic departments, and more.

Regional Outlook

Regional-wise, the global market for medical packaging has been studied amongst the critical regions of Americas, Europe, Asia Pacific, and the Middle East and Africa.

The North American leads the global medical packaging market in support of massive development in the medical sector, a surge in the pharmaceutical industries and rising government support to research institutions. Also, growing chronic diseases such as asthma, cancer, COPD, diabetes in this region are to drive the growth of this region. As stated by WHO, in 2015, around 30.3 million people of all age group had diabetes, which is 9.4% of the U.S. population. These are expanding inpatient population at a rapid pace and enhance the demand for quality devices and drugs for treatment. Therefore, medical packaging plays a vital role in this region.

Europe region also shows a considerable growth of the market, mainly in two regions, namely Western Europe and Eastern Europe. Among these, Western Europe acquires the significant share of the market, which is primarily contributed by Germany, the U.K., and France.

The Asia Pacific is also recorded to be the fastest-growing medical packaging market due to the incidence of huge patient population and high healthcare expenditure. Moreover, rising demand for quality devices and drugs in healthcare is also likely to lead in the growth of the medical packaging. As stated by the Australian Bureau of Statistics, in 2016, around 5.1% of the Australian population is detected with diabetes, which leads the demand of quality treatments, hence market of medical packaging is proliferating in this region.

In the last, the Middle East and African region acquire the least market share owing to low healthcare expenditure, ignorance of diseases, poor access to treatment and availability of limited technologies.

Intended Audience

  • Medical Device Manufacturers
  • Manufacturers of Medical Foam
  • Traders, Distributors, and Suppliers of Medical foam
  • Government and Research Organizations
  • Research and Development (R&D) Companies
  • Market research and Consulting Service Providers
  • Medical Research Institutes and Universities

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Table Of Content

  1. Report Prologue
  2. Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

  1. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

  1. Market Dynamics

4.1 Drivers

4.2 Restrains

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

Continues….

Also Read : https://www.marketwatch.com/press-release/medical-device-packaging-market-2019-industry-size-top-manufacturers-analysis-growth-future-scope-challenges-demand-regional-outlook-and-forecast-to-2022-2019-05-13

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