The latest report on “Medical Device Packaging Market (Packaging Type – Trays, Pouches, Bags, Clam Shells, and Other Packaging Types; Material – Paper, Plastic, Paperboard, and Other Material Types; Application – Sterile Packaging, and Non-sterile Packaging): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global medical device packaging market is projected to grow at a CAGR of 5.9% over the forecast period of 2019-2025.
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The continuously growing demand for different types of medical devices from the diagnostic centers, hospitals, and research and development institutions are fueling the demand of the medical device packaging market. Further, the growing government focus to provide basic healthcare facilities to the common masses are boosting the growth of the medical device packaging market.
As medical device manufacturers are mainly decentralized in the developed countries and its requirement in the developing countries is continuously growing day by day, there is an increase in the demand for packaging products for transportation of these medical products. Medical packaging also reduces breakage and financial loss to the manufacturers and buyers.
Growing Demand for Medical Devices from Emerging Economies is Anticipated to Provide Beneficial Opportunities for Market Players
The increasing investment in the healthcare industry to develop basic healthcare infrastructure and simultaneously providing advanced diagnostics, pathological and other allied medical equipment in these centers are boosting the demand of modern healthcare devices, which in turn, favors the growth of the medical device packaging products. However, the fluctuation of the price of raw materials used in the different types of packaging products is restricting the growth of the medical device packaging market in the near future. Moreover, the growing demand for medical devices from emerging economies is anticipated to provide beneficial opportunities for market players.
North America is the Largest Player in the Medical Device Packaging Market
North America is the largest player in the medical device packaging market, owing to the presence of the numerous medical device packaging companies in this region. Additionally, the presence of a large number of hi-tech medical device manufacturers in this region helps to support the perennial demand of the different types of medical device packaging material to cover their medical devices for long transportation purposes.
The Asia-Pacific medical device packaging market is expected to grow at the highest CAGR, owing to the influx of numerous MNC medical device manufacturing companies to produce medical devices in this region. Major multinational players are investing in the Asia Pacific region owing to low labor costs and the export of the products to developed countries at a cheap rate is increasing to grow the demand for the different types of the medical device packaging market in this region.
The report on the global medical device packaging market covers segments such as packaging type, material, and application. On the basis of packaging type, the sub-markets include trays, pouches, bags, clam shells, and other packaging types. On the basis of material, the sub-markets include paper, plastic, paperboard, and other material types. On the basis of application, the sub-markets include sterile packaging, and non-sterile packaging.
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The report provides profiles of the companies in the market such as Amcor Limited, Bemis Company Inc, Chesapeake Limited, E. I. du Pont de Nemours and Company, KlöcknerPentaplast Group, 3M Company, WestRock Company, Mitsubishi Chemical Holdings Corporation, Oliver Healthcare Packaging, and Other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the medical device packaging.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.