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Medical Packaging Market Outlook and Future Scope Analysis till 2023
Medical Packaging Market 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
Medical Packaging Market Scenario
Medical packaging plays an important role in sustaining product quality and encourage safe and effective use. The growing market for implantable devices, growth of healthcare market, increasing awareness of healthcare in different region, especially in developing countries such as India and China are adding fuel to the global medical packaging market growth. Moreover, rising disposable income in developing countries increasing the expenditure on healthcare facilities. The improvement in technology of sustainable packaging and innovation in pharmaceuticals and life science are key drivers of the market.
The global medical packaging market is expected to grow at a CAGR of 6.3% during forecasted period 2017-2023.
Some of the major players in the global medical packaging market are Amcor Limited (Australia), Chesapeake Limited (U.S.), DuPont (U.S.), Klöckner Pentaplast Group (Germany), MeadWestvaco Corporation (U.S.), Mitsubishi Chemical Holdings Corporation (Japan), Bemis Company Inc. (U.S.), West Pharmaceutical Services, Inc. (U.S.)., 3M company, and, others.
Medical Device Manufacturers
Manufacturers of Medical Foam
Traders, Distributors, and Suppliers of Medical foam
Government and Research Organizations
Research and Development (R&D) Companies
Market research and Consulting Service Providers
Medical Research Institutes and Universities
The global Medical Packaging Market is segmented on the basis of material, types, application, and end user.
On the basis of the material, it is segmented into sterilization, tyvek, foam, molded fiber, fabrics, plastics, films, adhesives, and others.
On the basis of the type, it is segmented into containers, pouches, trays, blister packets, clamshell packs, vials, and others.
On the basis of the application, it is segmented into medical, pharmaceuticals, diagnostics, plastic industries, chemicals and research, and others.
On the basis of the end user, it is segmented into hospitals, clinics, medical and research centers, forensic departments, and others.
On the regional basis, the market is segmented into Americas, Europe, Asia Pacific and the Middle East and Africa.
The Americas dominate the global medical packaging market owing to massive development in the medical sector, increase in the pharmaceutical industries, and growing government support to research institutions. Furthermore, increased chronic diseases such as, asthma, cancer, COPD, diabetes in this region drive the growth of this region. According to the WHO, in 2015, around 30.3 million people of all age group had diabetes, which is 9.4% of the U.S. population. These rising in patient population enhance the demand of quality devices and drugs for treatment, thus, medical packaging play an important role in order to provide quality treatments.
Europe consist of two regions namely Western Europe and Eastern Europe. Western Europe accounts for the major share of the market, which is primarily contributed by Germany, the U.K., and France. Europe holds the second position in the global medical packaging market owing to government support and well-established healthcare industry. This is expected to continue driving the European market over the forecasted period.
Asia Pacific is the fastest growing medical packaging market owing to the presence of huge patient population, and high healthcare expenditure. Moreover, increasing demand for quality devices and drugs in the healthcare is projected to lead the growth of the medical packaging in this region.
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