Medical Device Packaging Market Growth, Analysis Report 2019 With 3M, DuPont, Pentaplast, Constantia, Barger, Berry Global, Inc., Klöckner Technipaq, Inc., Bemis Company, Inc., Beacon Converters And More
Global medical device packaging market is expected to rise from its initial estimated value of USD 27.25 billion in 2018 to a projected value of USD 43.99 billion by 2026, registering a CAGR of 6.17% in the forecast period of 2019-2026. This rise in market value can be attributed to innovations in packaging products offering and services.
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Medical device packaging can be defined as the products and services that are used to cover and protect the medical devices before they are used. The packaging offers protection and enhancement of durability of medical devices. These products and services are used so that the devices are in pristine and sterilized state before their usage.
· Growth of the overall medical devices market is expected to act as a driver for the market growth; this factor is expected to act as a driver for the market growth
· Need for longer shelf-life of the medical devices which has resulted in growth of demand for effective medical device packaging products; this factor is expected to act as a driver for the market growth
· Presence of strict requirements and regulations regarding the packaging services and materials used in the packaging of medical devices set by the various organizations; this factor is expected to restrain the market growth
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Segmentation: Global Medical Device Packaging Market
· By Products
· By Accessories
· By Material
Paper & Paperboard
· By End-Users
· By Distribution Channel
· By Geography
o North America
o South America
Rest of South America
Rest of Europe
Rest of Asia Pacific
o Middle East & Africa
United Arab Emirates
Rest of Middle East & Africa
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.
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