Medical Packaging Market Analysis, Growth Trends to 2028

 

Medical Packaging Market

The Medical Packaging Market was valued around USD 48 billion in 2020 and is projected to grow at a CAGR of 6.9% over forecast period (2021-2028).

The factors driving the growth of Medical Packaging Market includes increasing popularity of implantable medical devices, expansion of the healthcare sector, growing consumers inclination towards adopting healthy lifestyles and rise in the number of chronic diseases such as diabetes and cardiovascular diseases. According to the report published by Bloomberg, the Global Implantable Medical Devices Market was valued at USD 91.8 billion in 2020 and is projected to reach USD 179.03 billion by 2030, exhibiting a CAGR of 7.2% over the forecast period (2021-2030), which will boost the Medical Packaging Market size in the coming years. Moreover, the increasing adoption of advanced technologies such as Internet of Things (IoT), Artificial Intelligence (AI) and Big Data in medical industry and rise in the number of pharmaceutical companies, are some of the additional factors supplementing the market growth. As per the Medical Packaging Market Analysis, the increasing disposable incomes, rapid urbanization, rising investments by the leading players on research and development, improvements in the living standards and growing population rates, are further contributing to the market growth.

Request a FREE sample of this report

However, the growth of Medical Packaging Market is hindered due to variations in the prices of raw materials and strict regulations enforced by the Governing bodies across the globe on the packaging of medical products.

The major players operating in the market are Constantia Flexibles, Bemis Manufacturing Company, Sonoco Products Company, 3M, Westrock Company, Amcor plc, West Pharmaceutical Services, Inc, Berry Global Inc, Avery Dennison Corporation and CCL Industries, among others.

Materials – Segment Analysis

Based on Materials, the Polymer segment is predicted to expand at a remarkable CAGR during the forecast period because plastics are pocked friendly, widely accepted, and are extensively used to resist corrosion shattering.

Packaging type – Segment Analysis

Based on Packaging type, the Bags and Pouches segment emerged as the fastest-growing market over the forecast period. The bags and pouches minimize the risk of contamination and are extensively used in the health care industry for packaging medical products, are some of the factors responsible for the growth of the segments.

Regional – Segment Analysis

Based on region, the North American region estimated to capture a sizeable market share during the forecast period. The increasing expenditure by government on healthcare, rising cases of chronic diseases, high per capita incomes, and growing population rates, are some of the key factors augmenting the market growth in Nort America.

Market Segmentation

Segmentation by Materials

  • Polymer
  • Paper and Paperboard
  • Non-woven fabric
  • Others

Segmentation by Packaging type

  • Bags and Pouches
  • Trays
  • Boxes
  • Others

Segmentation by Application

  • Medical Tools and Equipment
  • Medical Devices
  • In-Vitro Diagnostics Products
  • Implants

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Location: United States

Comments

Post a Comment

Popular posts from this blog

Algeria Paint and Coatings Market Trends 2031 – Key Developments and Future Outlook

Image
 Introduction The paint and coatings industry is a crucial part of Algeria’s economic and industrial landscape, with applications spanning construction, automotive, and manufacturing sectors. As infrastructure development and industrial expansion continue, the demand for high-quality paints and coatings is growing. Moreover, sustainability trends and regulatory policies are pushing manufacturers to innovate and develop eco-friendly solutions. Market Overview The Algeria Paint and Coatings Market is poised for significant growth in the coming years, driven by rapid urbanization, increased investments in infrastructure, and rising demand in the automotive sector. The market is also witnessing a shift towards environment-friendly coatings due to growing awareness and stricter environmental regulations. Water-based and low-VOC coatings are gaining popularity, as manufacturers focus on sustainability without compromising performance. Key Trends Driving Market Growth Infrastructure Boom...
Read more

Biofuels Market Trends 2031 – Shaping the Future of Renewable Energy

Image
 The global energy landscape is undergoing a significant transformation as the demand for sustainable and renewable energy sources continues to rise. Governments, industries, and consumers are collectively working towards reducing carbon emissions and achieving energy independence. In this context, biofuels have emerged as a vital component of the renewable energy portfolio, offering a cleaner alternative to traditional fossil fuels. By 2031, the biofuels sector is expected to grow substantially, driven by technological advancements and policy support. The Biofuels Market has seen significant growth due to increased awareness about climate change and the need for cleaner energy solutions. Biofuels, derived from renewable feedstocks like plant materials, algae, and waste, have gained traction across various industries. The transportation sector, in particular, has emerged as the largest consumer of biofuels, with governments mandating the use of biodiesel and ethanol blends to redu...
Read more

Seizing the Europe Smart Home Market Opportunity

Image
 The Europe smart home market presents a vast and promising opportunity for businesses and consumers alike. With advancements in technology, changing lifestyles, and increasing awareness about energy efficiency, the smart home industry in Europe is ripe with potential for growth and innovation. The opportunity in the Europe smart home market stems from several key factors. Firstly, the region boasts a large and affluent consumer base that is increasingly embracing connected technology to enhance their lifestyles. From smart thermostats and lighting systems to security cameras and voice-controlled assistants, the demand for smart home devices is on the rise across the continent. Moreover, supportive regulatory initiatives and incentives aimed at promoting energy efficiency and sustainability are creating a conducive environment for the adoption of smart home technology in Europe. Tax incentives, rebates, and subsidies for energy-efficient home upgrades are encouraging homeowners to...
Read more