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What are the factors driving the Medical Device Packaging Market trends by 2025? Mitsubishi Chemical Holdings Corporation, DuPont, Amcor Limited, Bemis Company, 3M Company, West Pharmaceutical Services
Europe medical device packaging market size, led by UK, France, Italy, and Germany, may have a strong market share due to strong security protection of therapeutic equipment supported by government regulations will drive regional industry growth.
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Medical Device Packaging Market size is mainly driven by diagnostic centers, hospitals and therapeutic equipment manufacturers. Huge investment along with high-tech equipment and technology in the healthcare industry will enhance the industry growth.
Increasing healthcare expenditures along with growing health awareness among aging population may drive industry growth. Global medical device market may surpass USD 350 billion by 2024, with gains at over 4.5%. Recent developments in the healthcare sector and modern tools, machines, equipment and apparatus, may further enhance the industry growth. Innovations such as child resistant and tamper evident in packing is likely to fuel medical device packaging market size.
Reasons to Buy This Report:
1. Medical Device Packaging Market size & share forecast by product & application 2019-2025
2. Growth drivers, pitfalls & industry challenges
3. Key Medical Device Packaging Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
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Rising environmental concerns and providing better microbial packing may boost the sterile therapeutic packing, thereby enhancing the medical device packaging market growth. Global sterile therapeutic packing was valued at over USD 25 billion in 2016 and may surpass USD 40 billion by 2024, with gains at over 5%. Rising demand from the health care sector, usage of reliable packing and growing aging population may fuel product demand. Availability of new products in the field of biopharmaceutical and biologics supported by requirements for better compliance may drive industry growth.
Increase in flexible packing demand in medical device packaging as the vendors are approaching for innovative pouches which offers protection to various medicinal equipment. Global flexible packaging market may witness significant gains at over 5%. Shift in trends towards convenient packing due to properties including transparency, chemical resistance, the ability to be cast into various shapes and durability, which will influence industry growth.
Containers comprises of the largest market share owing to cost-effectiveness and security enhanced formats in medical device packaging market. Pouch and trays in container types have a higher selling rate compared to others. Pouches have puncture resistance, barrier & strength properties and compartment trays remove the risk of infection dispersion and staff errors during the assembling of products.
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Global medical device packaging market share is highly fragmented with prominent players including Mitsubishi Chemical Holdings Corporation, DuPont, Amcor Limited, Bemis Company, 3M Company, West Pharmaceutical Services, Chesapeake Limited, MeadWestvaco Corporation, Klöckner Pentaplast Group, Wipak Group, Riverside SteriPack., and Placon Corporation.
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