Medical Packaging Market Size, Trends, Analysis, Growth, 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
According to Market Research Future (MRFR)’s study report, the global medical packaging market has been prognosticated to strike 6.3% CAGR during the forecast period 2017 to 2023. The healthcare sector is growing leaps and bounds which is anticipated to support the market in scaling a decent valuation towards the end of the assessment period. Rising incidences of diseases have intensified the need for sustainable packaging for preserving the integrity of the medicines and devices.
The development of the medical packaging market is also likely to be driven by increasing healthcare expenditures. In addition, the supportive regulations set by the governments are expected to boost the growth trajectory of the global medical packaging market over the next couple of years.
Innovations in packaging technology are poised to dictate the growth pattern of the market during the forecast period. The increasing demand for healthcare services in conjunction with the exponentially growing population is projected to have a favorable impact on the expansion of the medical packaging market. On the flip side, the increasing healthcare cost remains an impediment to market growth.
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Some of the major players studied in this MRFR report are
West Pharmaceutical Services, Inc. (U.S.).
Amcor Limited (Australia)
Chesapeake Limited (U.S.)
Klöckner Pentaplast Group (Germany)
Mitsubishi Chemical Holdings Corporation (Japan)
MeadWestvaco Corporation (U.S.)
Bemis Company Inc. (U.S.), and 3M Company (U.S.).
In March 2019, global leaders in medical packaging participated in Med-Tech Innovation Expo. The event was held at the NEC, Birmingham.
In March 2019, RxSafe, LLC, a leading manufacturer and designer of automated storage and retrieval systems for pharmacies, has announced the launch of PakMyMeds™ Network for connecting pharmacy owners with local patients.
In March 2019, Röchling, a German plastics company, has unveiled its new plant in India which is also its second facility in the country. An investment of USD 20 Mn has been made for the initial phase, and the facility will be focusing on three industries - industrial, automotive and medical.
In December 2018, JVM, which a subsidiary of Hanmi Pharmaceutical, has announced the introduction of a new pharmaceutical packaging machine, NS20, which is designed for preventing packaging errors while speeding up the process and eliminating wastage.
In June 2018, ACG Films & Foils, a global pharma grade packaging producer, has announced the launch of India’s first one-stop packaging solution for oral solid dosage formulation.
By material, the global medical packaging market has been segmented into sterilization, Tyvek, foam, molded fiber, fabrics, plastics, films, adhesives, and others.
By type, the medical packaging market has been segmented into containers, pouches, trays, blister packets, clamshell packs, vials, and others.
By application, the global medical packaging market has been segmented into medical, pharmaceuticals, diagnostics, plastic industries, chemicals and research, and others.
By end-user, the medical packaging market has been segmented into hospitals, clinics, medical and research centers, forensic departments, and others.
The global medical packaging market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. Americas is likely to exhibit massive developments owing to the growth of the healthcare sector. In addition, the rising prevalence of chronic diseases is further expected to boost the growth trajectory of the medical packaging market in the region.
Europe is poised to grow significantly in the forthcoming years. The consolidation of developed economies in the Western region has been prognosticated to propel the expansion of the medical packaging market in the upcoming years.
Asia Pacific is presumed to mark a relatively higher CAGR owing to the increasing healthcare expenditure of the population. Meanwhile, the Middle East & Africa is likely to exhibit huge gap between supply and demand posing strong growth opportunities.
Table Of Content
1. Report Prologue
2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
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