Hermetic Packaging Market to record substantial proceeds from North America healthcare sector

The hermetic packaging market is poised for robust growth on the back of burgeoning global medical device sector. Hermetic packaging is primarily used in implantable medical devices such as pacemakers, cochlear implants, and micro-housings for miniature components in endoscopic applications. The medical device sector across developed economies like North America is increasingly recording new developments.

As a matter of fact, the United States is one of the leading nations conducting research and development in medical devices, accounting for around 7% of the market sales revenue. In 2017, the U.S. medical device market had surpassed USD 150 billion.

Request for sample copy of this report @ https://www.gminsights.com/request-sample/detail/4470

With numerous developments and investments made in the North America medical device sector, Global Market Insights, Inc., predicts that the global hermetic packaging market may exceed USD 6 billion by 2026.

In addition to the medical device sector, burgeoning global commercial aircraft industry is poised to accelerate hermetic packaging business share. Hermetic packaging is extensively used across aerospace sector to safeguard fuel system sensors and ensure the safety of delicate electronics.

Based on product segment, hermetic packaging is classified as reed glass, passivation glass, transponder glass, ceramic-metal, and glass-metal. Reed glass hermetic packaging offers excellent wear resistance and high reliability. Reed switches are extensively employed in the automobile sector as they easily open and close electrical systems without the use of external mechanical systems. On this note, it is expected that the reed glass type hermetic packaging market may exceed USD 400 million by 2026.

Based on configuration, pressed ceramic packages segment is anticipated to record 6% CAGR over the forecast period as the product is more cost-efficient than multilayer ceramic packages. Nevertheless, multi-layer ceramic packages configuration segment might also record considerable growth due to its exceptional temperature stability.

Notably, hermetic packaging is extensively used to safeguard MEMS switches as these switches are delicate and possess moving interfaces and structures with the environment. Studies suggest that MEMS (micro-electromechanical system) switches application segment might record 8% CAGR over the forecast period.

Request for customization @ https://www.gminsights.com/roc/4470

Meanwhile, the medical industry is anticipated to register over 7% CAGR in the forthcoming years. Hermetic packaging delivers effective sealing of cardiac implants, pacemakers, defibrillators with high functionality characteristics, and UV lasers for surgical drilling.

Companies operating in this industry are leveraging several growth strategies like mergers, acquisitions, and product innovation to expand business operations and achieve profitable growth. Notably, Special Hermetic Prod., SGA Technologies, KYOCERA Corporation, Winchester Interconnect, Legacy Technologies, Micross, EGIDE, AMETEK, Inc., Renesas Electronics Corporation, Texas Instruments, Willow, Teledyne Technologies, Materion Corporation, and SCHOTT AG are the key industry players currently at the forefront of hermetic packaging market.

Contact Us:
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.