Sarasota, FL -- (SBWIRE) -- 01/11/2019 -- Global Medical Packaging Market: Overview
Medical packaging requires a high amount of sterility to ensure that the product is free from any source of contamination. The need for medical packaging arises from the increasing demand from the healthcare as well as the consumers for sterile as well as cost-effective forms of packaging. Constant technological advancement is being carried out by manufacturers to manufacture not only sterile but also simplistic forms of medical packaging.
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Global Medical Packaging Market: Growth Factors
Massive investments in healthcare made by the governments all across the globe are anticipated to drive the growth of the medical packaging market in the years ahead. Technological advancements and excellent medical & healthcare facilities are fuelling the growth of the global medical packaging market. The growing use of packaging material reducing carbon footprint and guaranteeing environmental safety is gaining traction in the global medical packaging market. Ecological issues and the fluctuations in the prices of the resins have further contributed towards the cost pressures among the manufacturers as they are not able to maintain profit margins. These factors are likely to hamper the growth of the global medical packaging market in the years ahead. Nevertheless, the introduction of color-coded inner, as well as outer labels by the manufacturers, is anticipated to generate lucrative growth avenues for global medical packaging market in the coming years.
Global Medical Packaging Market: Segmentation
The global medical packaging market can be divided based on packaging type, material type, and end use. Based on the packaging type, the medical packaging market is segmented into bags & pouches, stick packs, boxes, containers, flow wraps, clamshell blister packs, cartoons, and trays. On the basis of material type, the market is segmented into PE, PP, PVC, Paper Laminates, Fabric, Glass, Aluminium, and others. Based on the end use, the market is sectored into equipment & tools, implants, devices, and IVD.
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Global Medical Packaging Market: Regional Analysis
Based on regions, the global medical packaging market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is currently leading the global medical packaging market attributed to the well-established healthcare sector in the region. Introduction of new product offerings by the key players along with the rise in the production capacity as well as the adoption of business growth strategies such as mergers & acquisitions will further drive the medical packaging market trends over the coming years.
Asia Pacific region is expected to gain substantial share in the market revenue over the forecast period due to rising middle-class population demanding for highly sterile forms of packaging. Europe is expected to witness moderate growth in the medical packaging market. Latin America and MEA region are expected to witness growth due to increasing pressure from the regulatory forces to improve the quality and functionality of the medical packaging.
Global Medical Packaging Market: Competitive Players
The key players of the global medical packaging market include Bemis Company, Inc., Amcor Limited, Gerresheimer AG, Schott AG, West Rock Company, Becton Dickinson and Company, Alpha Packaging, Winpak Ltd, Mondi Group, and E. I. du Pont de Nemours and Company.
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Global Medical Packaging Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa