The global medical packaging market is anticipated to grow with a significant CAGR of 6.1% during the forecast period. The growth of the medical packaging market is attributed to the rapidly changing healthcare industry. The medical packaging market is continuously experiencing various changes owing to the outbreak of new diseases, increasing regulatory norms, and growth in advanced healthcare systems. Furthermore, increasing development in diagnostics, pathological and other allied medical equipment fields of healthcare are considerably boosting the demand for modern healthcare devices. This increased demand for modern diagnosis healthcare devices is also expected to simultaneously fuel the growth of the medical packaging market during the forecast period.
Browse the full report description of "Global Medical Packaging Market Size, Share & Trends Analysis Report by Material Type (Polymer, Paper & Paperboard, and Non-woven fabric), By Packaging Type (Bags & Pouches, Trays, Boxes, and Others), By Application (Medical Tools & Equipment, Medical Devices, Diagnostic Products, and Implants) By Device Class (Class I, Class II, Class III) Forecast Period 2020-2026" at https://www.omrglobal.com/industry-reports/medical-packaging-market
In addition to this, various companies in the medical packaging market are also increasing their focus on sustainable packaging by reducing the materials and energy required in the packaging process which in turn is impacting the medical packaging market. Key industry players are also adopting green packaging designs with the increasing concern of environmental safety across the globe. Moreover, packaging material that can provide longer shelf lives coupled with easy transportation of the packaged products is also significantly driving the medical packaging market. Furthermore, flexible packaging demand is also experiencing considerable growth in the applications of both sterile and non-sterile packaging.
Counterfeit medical devices put the patient’s life in severe danger. According to the World Health Organization (WHO) estimation, approximately 8% of the medical devices that are currently in circulation across the globe are counterfeit. Hence, in order to reduce the counterfeit activities with medical devices, the medical device packaging industry players are adopting various new and innovative technologies such as verification and traceability technology into their packaging process. These technologies will aid the consumers in differentiating between the real and counterfeit products.
The utilization of nanotechnology is also expected to revolutionize the medical packaging market during the forecast period. With the nanotechnology assistance, packaging materials are being engineered at the nano level, which would provide packaging material manufacturers with enhanced mechanical & thermal performance, and greater resistance. In addition to this, micro packaging could also aid with the process to easily detect thwart tampering or counterfeiting of packaged products. These aforementioned factors are expected to significantly impact the medical packaging market during the forecast period.
Global Medical Packaging Market- Segmentation
By Material Type
By Packaging Type
By Application
By Device Class
Global Medical Packaging Market- Segment by Region
North America
Europe
Asia-Pacific
Rest of the World