medical packaging

Medical Packaging Market, By Material, Packaging Type,
Packing Type, Application - Global Industry Insights, Trends,
Outlook, and Opportunity Analysis, 2018-2026
Medical packaging has the primary function to protect packaged medical or pharmaceutical
products. Different types of medical components have resulted in developing various types of
medical packaging, ranging from preformed packaging to customizable packaging. Medical
products have unique features and majority of them require proper sterilization and are
therefore, designed ergonomically to fulfill the high medical standards and protect the
product integrity.
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One of the major factor contributing to the growth of medical packaging market includes
increasing number of hospitals and diagnostic centers and the growing healthcare industry.
According to the Centre Of Medicare & Medicaid Services, in 2015, National Health
Expenditure (NHE) grew to 5.8% to US$ 3.2 trillion or US$ 9,990 per person, playing a key
role in the growth of healthcare industry. The gain in momentum of the plastic packaging
industry, with focus on cost-effectiveness, is also playing a key role in growth of medical
packaging market. According to Coherent Market Insights (CMI), the global plastic
packaging market is expected to grow at a CAGR of 5.3% in terms of revenue and 5.1% in
terms of volume during 2017-2025.
However, price fluctuations of raw materials such as resin and oil act as a major restraint for
the medical packaging market. Shortage of packaging materials supply also affects the
growth of the medical packaging market.
Medical Packaging Market Outlook:
North America is leading the global medical packaging market. The U.S was leading market
in this region in 2016. The increasing health awareness along with the growing healthcare
industry is a major driving factor for the growth of medical packaging market in the region.
North America is expected to lead the medical packaging market throughout the forecast
period, owing to continuous product innovation and focus on extensive research and
development activities namely child-resistant packs and pre-filled syringes. According to a
report of Coherent Market Insights (CMI), in North America, the pharmaceutical equipment
packaging industry accounted for around 40% of the market in 2016 and expected to retain its
position through the forecast period.
Asia Pacific is the fastest growing region in medical packaging market with China, Japan,
and India being the key markets in the region. The medical device market for APAC is
expected to witness the fastest CAGR growth during the forecast period, which is expected to
propel the growth of medical packaging market. In terms of packaging by material, Polymer
held the major share in the medical device market in this region in 2016.
Key players in the Medical Packaging Market:
Some of the major players operating the global medical packaging market include E. I. du
Pont de Nemours and Company (U.S), Riverside Medical Packaging Company Ltd. (U.K.),
Constantia Flexibles Group GmbH (Austria), Avery Dennison Corporation (U.S.), Amcor
Limited (Australia), Placon Corporation (U.S.), 3M Company (U.S.), Wipak Group
(Germany), West Pharmaceutical Services, Inc. (U.S.), Bemis Company (U.S.), and
SteriPack Ltd. (Ireland).
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Medical Packaging Market report categorizes the global market By Material (Polymer, Paper & Paper Board, Non-Woven Fabrics, and Others), By Packaging Type (Trays, Boxes, Bags, Others), By Packing Type (Primary, Secondary, Tertiary, and Shrink Packing), By Application (Medical Devices, Medical Equipment & Tools, In Vitro Diagnostic Devices (IVDs), and Implants) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025

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