(EMAILWIRE.COM, August 05, 2022 ) The report “Medical Packaging Market by Material (Polymer, Non-woven Fabric, Paper & Paperboard), Packaging Type (Bags & Pouches, Trays, Boxes), Application (Medical Equipment & Tools, Medical Devices, Implants, IVDs), Packing Type, and Region – Forecast to 2022″, The medical packaging market will grow from USD 35.31 Billion in 2016 to USD 50.55 Billion by 2022, at a compound annual growth rate (CAGR) of 6.29% from 2017.
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=103192643
To tackle the issues of counterfeiting and misuse, healthcare regulators in the EU, the U.S., and other major healthcare markets have implemented strict requirements for packaging systems and packaging materials used to preserve the sterility of medical devices, protect their functionality, and retain their biological safety. Initially published in 2006 and amended in 2015, the ISO 11607 series is the internationally accepted standard series for packaging and packaging materials used in conjunction with medical devices and consists of two parts.
In terms of application, the medical equipment & tools segment is expected to grow at the highest CAGR. Medical equipment is widely used in hospitals globally in a variety of applications; it thus accounts for the largest market share. Since, the high number of equipment & tools used in the medical industry can be contributed to their high market share in the packaging market
On the basis of packaging type, the bags & pouches segment accounted to grow at the highest CAGR. This segment is witnessing high growth due to its ease of packaging and a large number of application areas. The ease of using bags & pouches in huge application areas makes it an important segment. The sterilized bags & pouches are preferred due to their ease-of use, light weight, and bio-degradability.
Don’t miss out on business opportunities in Medical Packaging Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=103192643
Browse in-depth TOC on “Medical Packaging Market
86 – Market Data Tables
31 – Figures
149 – Pages
On the basis of material, the polymer segment is projected to have the highest CAGR. This segment is witnessing high growth due to a variety of reasons such as recyclability, cost-effectiveness, and usability.
The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period due to the increasing population, growing economies, and increasing demand for better healthcare infrastructure and facilities.
The global market for medical packaging is dominated by large players such as Avery Dennison Corporation (U.S.), 3M Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), CCL Industries, Inc. (Canada) , Amcor Limited (Australia), Constantia Flexibles Group GmbH (Austria), Bemis Company (U.S.) , Sonoco Products Company (U.S.) , WestRock Company (U.S.). These players have adopted various strategies to expand their global presence and increase their market share. Mergers & acquisitions, expansions, and new product launches are some of the major strategies adopted by market players to achieve growth in the medical packaging market.
Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=103192643
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the Growth Engagement Model GEM. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write Attack, avoid and defend strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarketss flagship competitive intelligence and market research platform, Knowledge Store connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.