Worldwide Medical Device Packaging Market is relied upon to achieve USD 37,719.7 million by 2024 from USD 23,400.0 million of every 2016, developing at a CAGR of 6.2% in the figure time frame 2017 to 2024. The new market report contains information for noteworthy years 2015, the base year of estimation is 2016 and the figure time frame is 2017 to 2024.
Data Bridge Market Research Provides New Report titled “Global Medical Device Packaging Market is expected to reach USD 37,719.7 million by 2024 from USD 23,400.0 million in 2016, growing at a CAGR of 6.2% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.”, also the Global Medical Device Packaging Market, By Drug Delivery Device Packaging (Injectable, Topical, Nasal,Transdermal), Container Type (Pouches, Bags, Blister Packaging, Clamshells, Boxes), Raw Material (Plastics, Paper, Glass), End User (Medical Manufacturing, Contract Packaging, Retail Packaging), Distribution Channel, Geography.
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The major factors driving the growth of this market are the increased demand of flexible packaging, growing medical device market, increasing importance of packaging for medical device, increase in demand for innovative products such as child resistant and tamper evident packaging are fuelling the growth of the medical device packaging market. On the other hand, stringent government regulations may hinder the growth of the market.
Market Segmentation: Global Medical Device Packaging Market
The global medical device packaging market is segmented on the basis of drug delivery device packaging, container type, raw material, end user, distribution channel and geography. In 2017, the injectable packaging segment is expected to dominate the market with a share of ~31.0% and is expected to continue this trend till 2024.
On the basis of container type, the global medical device packaging market is segmented into
- Pouches, bags,
- blister packaging,
- boxes and others.
By raw material, the market is segmented into
- paper & paper board,
- glass .
Plastic is further sub-segmented into
- polypropylene and others.
Polyethylene is sub-segmented into
- high-density polyethylene
- low-density polyethylene.
On the basis of end users, the market is classified into
- medical manufacturing,
- contract packaging,
- retail packaging and others.
In 2017, the medical manufacturing segment is expected to dominate the market and contract packaging is expected to grow with the highest CAGR in the forecast period.
On the basis of distribution channel, the market is classified into
- direct tenders and retail.
In 2017, the direct tenders segment is expected to dominate the market and is expected to continue this trend till 2024.
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Key Drivers: Global Medical Device Packaging Market
Some of the major factors driving the market for medical device packaging market are growing medical device market, increase in demand of flexible packaging, and increasing demand of innovative packaging materials.
Stringent government regulations may hinder the growth of this market.
Many companies are increasingly focusing on developing innovative packaging materials in order to strengthen their product portfolios in the medical device packaging market.
Key Points: Global Medical Device Packaging Market
- Amcor Limited is going to dominate the medical device packaging market following with Bemis Company Inc.,
- Berry Global Inc.,
- Texchem Polymer Engineering Division,
- Klöckner Pentaplast,
- Technipaq Inc.,
- Plastic Ingenuity,
- Beacon Converters, Inc.,
Injectable drug delivery device packaging market is growing with the highest CAGR.
Plastic is holding the major share in global medical device packaging market and is growing with highest CAGR.
Medical manufacturing is dominating the medical device packaging market whereas contract packaging is expected to grow with the highest CAGR in the forecast period.
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