Global Medical Packaging Market to Witness a Pronounce Growth During 2025

Medical packaging has the primary function to protect packaged medical or pharmaceutical products. Different types of medical components have resulted in developing various types of medical packaging, ranging from preformed packaging to customizable packaging. Medical products have unique features and majority of them require proper sterilization and are therefore, designed ergonomically to fulfill the high medical standards and protect the product integrity.

Ask for Customization of Research [email protected] https://www.coherentmarketinsights.com/insight/request-customization/949

One of the major factor contributing to the growth of medical packaging market includes increasing number of hospitals and diagnostic centers and the growing healthcare industry. According to the Centre Of Medicare & Medicaid Services, in 2015, National Health Expenditure (NHE) grew to 5.8% to US$ 3.2 trillion or US$ 9,990 per person, playing a key role in the growth of healthcare industry. The gain in momentum of the plastic packaging industry, with focus on cost-effectiveness, is also playing a key role in growth of medical packaging market. According to Coherent Market Insights (CMI), the global plastic packaging market is expected to grow at a CAGR of 5.3% in terms of revenue and 5.1% in terms of volume during 2017-2025.

However, price fluctuations of raw materials such as resin and oil act as a major restraint for the medical packaging market. Shortage of packaging materials supply also affects the growth of the medical packaging market.

Medical Packaging Market Outlook:

  • North America is leading the global medical packaging market. The U.S was leading market in this region in 2016. The increasing health awareness along with the growing healthcare industry is a major driving factor for the growth of medical packaging market in the region. North America is expected to lead the medical packaging market throughout the forecast period, owing to continuous product innovation and focus on extensive research and development activities namely child-resistant packs and pre-filled syringes. According to a report of Coherent Market Insights (CMI), in North America, the pharmaceutical equipment packaging industry accounted for around 40% of the market in 2016 and expected to retain its position through the forecast period.
  • Asia Pacific is the fastest growing region in medical packaging market with China, Japan, and India being the key markets in the region. The medical device market for APAC is expected to witness the fastest CAGR growth during the forecast period, which is expected to propel the growth of medical packaging market. In terms of packaging by material, Polymer held the major share in the medical device market in this region in 2016.

Ask for detailed Sample of the Research Report @ https://www.coherentmarketinsights.com/insight/request-sample/949
*The Sample consists of Table of Content, Research framework of the actual report & research methodology adopted for it.

Key players in the Medical Packaging Market:

Some of the major players operating the global medical packaging market include E. I. du Pont de Nemours and Company (U.S), Riverside Medical Packaging Company Ltd. (U.K.), Constantia Flexibles Group GmbH (Austria), Avery Dennison Corporation (U.S.), Amcor Limited (Australia), Placon Corporation (U.S.), 3M Company (U.S.), Wipak Group (Germany), West Pharmaceutical Services, Inc. (U.S.), Bemis Company (U.S.), and SteriPack Ltd. (Ireland).

You may be interested

Cladding Systems Market Shows Expected Trend to Guide from 2018-2026 with Growth Analysis
Business
Business

Cladding Systems Market Shows Expected Trend to Guide from 2018-2026 with Growth Analysis

Mohit Joshi - August 20, 2018

Cladding Systems Market report 2018-2026 focuses on the major drivers and restraints for the key players. These research report also provides granular analysis of the market share,…

Guar Gum Market Applications, Types and Market Analysis to 2026
Chemicals and Polymer Science
Chemicals and Polymer Science

Guar Gum Market Applications, Types and Market Analysis to 2026

Alex Mathew - August 20, 2018

Guar Gum Market report 2018-2026 focuses on the major drivers and restraints for the key players. These research report also provides granular analysis of the market share,…

Blister Packaging Market Trends Estimates High Demand by 2026
Business
Business

Blister Packaging Market Trends Estimates High Demand by 2026

Mohit Joshi - August 20, 2018

Blister Packaging Market report 2018-2026 focuses on the major drivers and restraints for the key players. These research report also provides granular analysis of the market share,…

Most from this category