The Insight Partners Latest Research on “Medical Packaging Market Forecast to 2028″ Focuses COVID-19 Impact and Global Analysis By Material: Polymer, Foam, Molded-Fiber, Non-woven Fabric, Plastic, Films, Paper & Paperboard, and Others), Type (Containers, Pouches, Trays, Blister Packets, Vials, and Others), Application (Medical devices, Pharmaceutical and Biotechnology, Medical Equipment & Tools, and Others) and Geography
“Medical Packaging Market is projected to reach US$ 169,183.91 million by 2028 from US$ 109,238.35 million in 2021; it is expected to grow at a CAGR of 6.4% from 2021 to 2028. The report highlights trends prevailing in the market and the factors driving and restraining the market growth.
Download PDF Sample Copy at: https://www.theinsightpartners.com/sample/TIPRE00005546/
Medical packaging is essential in sustaining product quality and encourage safe and effective use. Packaging is done for the safety of medical products for storage, distribution, sale, and use. The material used for packaging is sterile barrier systems that safeguard the drugs, equipment, and other medical products. Also, the medical packaging requires a high quality of sterility to ensure that the product is free from contamination. These medical packaging systems increase patient safety and enhance packaging performance.
Industry Players Analysis:
The medical packaging market majorly consists of the players such as Amcor plc, DuPont de Nemours, Inc., Mitsubishi Chemical Corporation, SGD Pharma, 3M, West Pharmaceutical Services, Inc, Avery Dennison Corporation, Sonoco Products Company, CCL Industries Inc., and WestRock Company among others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have adopted several inorganic and organic strategies to accelerate their growth and improve their market position.
Below is the list of the growth strategies done by the players operating in the medical packaging market:
Oct-2020: SGD Pharma has added a market-first 50ml volume option in a tray produced at an industrial scale by a molded glass producer to its ready-to-use (RTU) moulded glass vial portfolio
Oct-2019; 3M introduced a new style of packaging that doesn’t require tape or filler and can be adjusted to fit any object weighing less than 3 pounds. The flex amp seal shipping roll, according to 3M, can reduce the amount of time spent packing, the number of packaging materials used, and the amount of space needed to send items
Inquire about Discount: https://www.theinsightpartners.com/discount/TIPRE00005546/
Nov-2019: West and SCHOTT entered into a partnership to combine the SCHOTT iQ platform with West’s Ready Pack system. This partnership will initially launch SCHOTT’s adaptiQ high-quality RTU glass vials combining with West components and will expand to include other fill-finish systems such as ready-to-use cartridges (cartriQ) and pre-fillable glass syringes (syriQ).
Industry Segmentations:
Based on material, the medical packaging market is segmented into polymer, foam, molded-fiber, non-woven fabric, films, paper & paperboard, and others. In 2021, the polymer segment held the largest share of the market, by material. Also, the same segment is expected to grow at the fastest rate during the coming years.
Based on type, the global medical packaging market is segmented into containers, pouches, trays, blister packets, vials, and others. In 2021, the containers segment held the largest share of the market, by type. However, the blister packets segment is estimated to grow at a significant CAGR during the forecast period due to increasing product developments and product launches.
Global medical packaging market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. In North America, the U.S. is the largest market for medical packaging. The US is estimated to hold the largest share in the medical packaging market during the forecast period. The projected growth of the medical packaging market in the US is attributed to the rise in demand for counterfeit prevention mechanisms, increased emphasis on convenience and environmental issues. The Asia Pacific region is expected to account for the fastest growth in the medical packaging market. Rapid development of healthcare infrastructure along with pharmaceutical production hub is expected to impact the growth of the market in the region.
Key factors that are driving the growth of this market include increased emphasis on convenience and environmental issues, rise in demand for counterfeit prevention mechanisms drive the growth of the medical packaging market.
Buy Report at: https://www.theinsightpartners.com/buy/TIPRE00005546/
About The Insight Partners:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876