Rising global demand for medical devices and technological innovations in medical devices are some key factors driving market revenue growth
New York, December 09,2021-The global medical device packaging market size is expected to reach USD 48.88 Billion in 2028 and register a revenue CAGR of 6.3% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by rising demand for medical devices globally. Rising prevalence of chronic diseases across the globe and rise in the number of hospitals and diagnostic centers are other key factors boosting revenue growth of the global medical device packaging market. Moreover, major economic development in countries such as China and India is expected to open up major opportunities for manufacturers of medical devices going ahead. Medical device manufacturers are increasingly investing in development of more innovative devices and services, which is driving rising need for more specialized packaging materials and solutions. Moreover, rising popularity of healthcare insurance due to rise in income levels and spending capacity among individuals are boosting growth of the medical devices market due to increasing shift towards healthcare insurance.
Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/4179
Increasing government investment on public and private healthcare services and implementation of innovative strategies and structural reforms in order to enhance patient safety and strengthen healthcare infrastructure, treatment, and services are resulting in rising demand for more enhanced and effective packaging solutions for medical devices. Manufacturers of medical device packaging are investing on research and development activities for the launch of specialized packaging solutions for medical devices in order to comply with regulations and successfully complete packaging testing formalities.
Some Key Highlights From the Report
- In June 2021, Amcor launched dual chamber pouch in Europe for drug and medical device combination packaging. The Dual Chamber Pouch (DCP) of Amcor has already been tested and commercialized in the U.S. The new packaging solution is expected to support healthcare customers in meeting the complex requirements of medical device packaging. It utilizes a high strength foil laminate that protects contents from moisture, light, and oxygen ingress to support drug efficacy and extend shelf life.
- Pouches & bags segment is expected to account for largest revenue share in the global medical device packaging market over the forecast period owing to the barrier and strength properties and puncture resistance of pouches and bags. Manufacturers are offering a wide range of preformed pouch packaging designs for medical devices in order to cater to growing demand for flexible packaging.
- Polymer segment is expected to register robust revenue growth over the forecast period. Wide usage of polymers for manufacturing of packaging solutions for medical devices is expected to drive revenue growth of this segment during the forecast period.
- Sterile packaging segment is expected to account for a considerably large revenue share in the global medical device packaging market over the forecast period. Rising need to ensure absolute integrity of medical devices – from the manufacturer to its final point of use – and to ensure protection from mechanical damage and microorganisms are key factors expected to drive rising demand for sterile packaging.
- The medical device packaging market in North America is expected to account for largest revenue share over the forecast period. Rising investment by medical device manufacturers for production of more technologically advanced medical devices is driving the need for specialized packaging in order to comply with prescribed norms and regulations.
- Major players in the market include Amcor plc, Berry Global, Inc., DuPont de Nemours, Inc., WestRock Company, Mitsubishi Chemical Holdings, Placon Corporation, Sonoco Products Company, Technipaq Inc., Constantia Flexibles, and Plastic Ingenuity.
To know more about the report @ https://www.reportsanddata.com/report-detail/medical-device-packaging-market
For the purpose of this report, Reports and Data has segmented the global medical device packaging market based on product, material, application, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Clamshell Packs
- Pouches & Bags
- Boxes
- Trays
- Others
Material Outlook (Revenue, USD Billion; 2018-2028)
- Paper & Paperboard
- Glass
- Polymer
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Sterile Packaging
- Non-Sterile Packaging
Buy Premium Research Report @ https://www.reportsanddata.com/checkout-form/4179
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
Ask for Customize Research Report @ https://www.reportsanddata.com/request-customization-form/4179
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
Explore Latest Trending Research Reports By Reports and Data’s
Volatile Corrosion Inhibitors Packaging Market Size, Share & Analysis, By Product (VCI Papers, VCI Films, Foams, Others), By Material (Paper, Polyethylene, Others), By End-user Industry (Aerospace & Defense, Primary Metals, Electricals & Electronics, Automotive, Heavy Equipment, Metalworking, Others), And By Region, Forecast To 2027
Wine Packaging Market Size, Share & Analysis, By Product Type (Plastic Bottles, Glass Bottles, Closures, Bag-In-Box Containers), By Packaging Material (Plastic, Glass, Paperboard, Metal), And By Region, Forecast To 2027
Cable Ties Market Size, Share & Analysis, By Type (Releasable Cable Tie, Non-Releasable Cable Tie, Push Mount Cable Tie, Beaded Cable Tie, Rising Hole Cable Tie, Identification Cable Tie, Heat Stabilized Cable Tie, And Others), By Material (Nylon, Metallic, Polypropylene, Tefzel, Stainless Steel, And Others), By Application (Electronic Communication, Electricals, Building And Construction Application, Automobile Application, Agriculture Application, Retails Goods, Packaging, And Others), And By Region Forecast To 2028
Compostable Bags Market Size, Share & Analysis, By Product Type (Home Compostable Plastic, Ecopond Flex 162, BWC BF 90A, BioPBS FD92, Others), By Material Type (PLA, PBS, PHA, PBAT, Paper, Starch Blends, Cellophane, Others), By End-use (Packaging, Retail & Consumer Goods, Food & Beverages, Agriculture & Horticulture, Buildings & Construction, Automotive, Textile, Others), And By Region, Forecast To 2028
Food Container Market By Material Type (Plastic, Metal, Glass, Paperboard, Others), By Product Type (Bottles & Jars, Cups & Tubs, Boxes, Cans, Others), By Application (Grain Mill Products, Fruits & Vegetables, Dairy Products, Confectionery & Bakery Items, Processed Meat Products, Frozen Foods, Others), And By Region Forecast to 2028
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs
Read Latest Press Release @ https://www.reportsanddata.com/press-release/global-medical-device-packaging-market