Press release
Medical Packaging Market to Cross USD 47.11 Billion by 2030 Owing to Safeguarding Packed Medical Products | Top Key players covered are SCHOTT AG, Amcor plc., AptarGroup, Inc. and Other
Medical Packaging
The market is expected to increase significantly over the course of the forecast period as a result of rapidly rising factors like chronic disease rates, population increase, changing sleeping and eating patterns, rising environmental consciousness caused by traditional packaging materials, and the adoption of new regulatory criteria for recycling packaging.
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Adoption of Growth Strategies by Key Players to accelerate Market Expansion
Due to the various competitors present worldwide, the global industry is highly competitive. Additionally, important firms are strengthening their market positions mostly through acquisitions, which is escalating rivalry. This further drives market expansion and competitive rivalry.
Key players profiled in the global medical packaging market includes:-
• SCHOTT AG
• Amcor plc
• AptarGroup, Inc.
• West Medical Services, Inc.
• Berry Global Inc.
• Gerresheimer AG
• WestRock Company
• Becton, Dickinson U.K. Ltd
• O-I Glass, Inc.
SEGMENTATION
By Packaging Type
• Primary
• Secondary
• Tertiary
By Material
• Plastics
• Paper & Paperboard
• Glass and Metal
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By Product Type
• Bottles
• Blisters
• Caps & Closures
• Syringes
• Vials & Ampoules
• Bags & Pouches
• Sachet
Development in Bottle Packaging to Fuel Market Share Owing to its Applications:
Based on the product type, the market is segmented into bottles, blisters, caps, closures, syringes, vials, ampoules, bags, pouches, sachets, and others. The product segment that dominated the market share in 2021 is anticipated to retain its leading position over the projected period.
A strategic transition to cost-effective, infection-resistant, and security-enhanced forms, pouches, and trays will continue to be the main driver of medical packaging sales. Constant advancements in barrier properties (resistance, strength, and puncture resistance) aid in increasing pouch application, resulting in increased demand and fueling market expansion.
By Region
• North America
• Europe
• Asia-Pacific
• South America
• The Middle East and Africa
North America Anticipated Dominating the Market Owing to Expanding Pharmaceutical Businesses:
North America is anticipated to dominate the global medical packaging market by 2030, owing to the accelerating pharmaceutical business and rising awareness and spending on consumer healthcare. The pharmaceutical sector is accelerating due to an increasing patient population caused by infectious diseases like coronavirus. Considering the expansion of infectious diseases, the demand for packaging is expected to drive market growth.
The market share for medical packaging is projected to grow as more high-end packaging is produced for the medical sector. The main driving forces are the introduction of nanotechnology innovation in manufacturing processes, the increase in demand for pharmaceuticals delivered to patients' homes, and blister packaging.
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Advancement in Manufacturing Techniques to Propel Market Growth:
Emerging countries like Brazil, Russia, India, and China are expected to spur growth in the medical sector rapidly. Owing to the advancement in manufacturing techniques and company integration, the global medical packaging market is anticipated to drive market growth.
The key drivers of market expansion are rising income levels and increased knowledge about the benefits related to better healthcare systems and lifestyles. Additionally, an increasing young population and longer life expectancy fuel the market's expansion further.
Recent Developments:
● In January 2022, West's collaboration with Corning enabled an advanced drug containment and delivery solution system, which led to the enhancement of an advanced injectable drug packaging and delivery system for the medical industry.
● In March 2022, Berry Global partnered with Pylote to launch an ophthalmic multidose dropper combining a high barrier with unique antimicrobial protection properties to avoid the risk of microbial infections in patients.
TABLE OF CONTENTS-
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Medical Packaging Market
Chapter 5. Global Medical Packaging Market Overview, By Product Type, 2017 - 2030 (USD Million)
Browse Complete TOC: https://www.extrapolate.com/toc/Healthcare-Medical-Devices-Biotechnology/medical-packaging-market/26006
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About Extrapolate
Extrapolate is a Global Market Research, Advisory and Consulting firm which works closely with Industry experts from various industries to bring the latest and most accurate research reports.
In an era of breakneck change and a low tolerance for missed or misread opportunities, businesses need astute guidance to shape markets - not merely respond to them. Extrapolate helps clients develop market perspectives that drive success.
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