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Medical Device Packaging Market 2017 by Key Regions, With a Healthy Growth of 6.2% CAGR, Consumption, Revenue by 2024
Global Medical Device Packaging Market 2017 Industry Research Report is a professional report which provides thorough knowledge along with complete information pertaining to the Global Medical Device Packaging Market a proposed supply, demand, applications, industry chain summary, industry policies in addition to plans, product specifications, manufacturing processes, cost structures.The Global Medical Device Packaging Market is expected to reach USD 37,719.7 million by 2024 from USD 23,400.0 million in 2016, growing at a CAGR of 6.2% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Global Medical Device Packaging Market By Drug Delivery Device Packaging (Injectable, Topical, Nasal,Transdermal), Container Type (Pouches, Bags, Blister Packaging, Clamshells, Boxes), Raw Material (Plastics, Paper, Glass), End User (Medical Manufacturing, Contract Packaging, Retail Packaging), Distribution Channel, Geography
KEY POINTS:-
• Injectable drug delivery device packaging market is growing with the highest CAGR.
• Plastic is holding the major share in global medical device packaging market and is growing with highest CAGR.
• Medical manufacturing is dominating the medical device packaging market whereas contract packaging is expected to grow with the highest CAGR in the forecast period.
Top Competitors:
Amcor Limited is going to dominate the medical device packaging market following with
• Bemis Company Inc.
• Berry Global Inc.
• Barger
• DuPont
• CONSTANTIA
• 3M
• Texchem Polymer Engineering Division
• Klöckner Pentaplast
• CONSTANTIA
• Technipaq Inc.
• Plastic Ingenuity
• Beacon Converters, Inc.
• among others.
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Key Market Drivers:
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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Amcor Limited:
Founded in 1864 and headquartered at Zurich, Switzerland, Amcor Limited operates through two business segments Amcor Flexibles, Amcor Rigid Plastics and Other/Investments. The Amcor Flexibles Americas business produces flexible packaging for medical and pharmaceutical, fresh produce and snack food segments. The Amcor rigid plastics manufactures rigid plastic containers food & beverage products, including carbonated soft drinks, water, juices, sports drinks, milk-based beverages, spirits and beer, sauces, dressings, spreads and personal care items and plastic caps for a wide variety of applications. The rigid plastics segment focuses on polyethylene terephthalate (PET) packaging as well as plastic resins. In the year 2016, the rigid plastics segment achieved earnings of USD 352.5 million, an increase of 9.7% as compared to the earnings in 2015.
Bemis Company, Inc.:
Established in 1858 and headquartered at Neenah, United States, Bemis Company, Inc. operates through two business segments namely U.S. packaging and global packaging. The major revenue of the company comes from the U.S. packaging segment as compared to the global packaging segment. The company’s packaging products are widely diversified across food categories, agribusiness, medical, personal care products, pharmaceutical, consumer goods, construction and electronics. The U.S. packaging segment represents all consumer, food and industrial products packaging related manufacturing operations across the United States. The global packaging segment includes all packaging related manufacturing operations for medical device and pharmaceutical packaging-related manufacturing operations globally.
Recent Developments:
In May 2016, Bemis Company, Inc. acquired the medical device packaging company SteriPack Group which is a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications. The acquisition would help the company to enhance its product portfolio and also increase the customer base in Ireland, Florida, and Malaysia.
Recent Developments:
In June 2014, Berry Global Inc. acquired the Rexam Healthcare Containers and Closures business (“C&C”) for a purchase amount of USD 133 million. The Rexam’s Healthcare C&C business produces closures, bottles, specialty products for pharmaceutical and over-the-counter applications.
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