Europe Medical Device Packaging Market to witness tremendous growth
Scope of the Report
This study provides an overview of the global medical device packaging market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global medical device packaging market as material and product type. On the basis of material it is segmented as Plastic, Paper & Paperboard and others. On the basis of product type it is segmented as trays, pouches, bags, clamshell packs and others.
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The popularity of medical device packaging is growing over the past few years. Medical device packaging are used for storage of syringes, surgical instruments, diagnostic apparatuses and others. Rising health awareness, technological advancement, standard of living fueled the demand of the market. The manufacturers are continuously spending on research and development for medical device packaging.
The market is highly driven by the demand from APAC region, especially from the countries like China and India. The region is marked with various reforms and developments in the healthcare sector. With the rising incomes and health awareness, the governments are seen taking appropriate measures to bring required infrastructure and changes to the medical and healthcare premise. There is an increased investment in the region which further stimulates the growth of the medical device packaging market. The global medical device packaging market size is expected to cross USD 30 Billion at CAGR of approximately 6% by 2022.
Market Research Analysis
The market is highly application based. On the basis of material, Plastic accounted for the largest market share. Pouches and Trays will continue to lead the market, majorly due to cost-effective, infection resistant and light-weight. Asian countries, especially India, China are expected to grow fast over the forecasted period due to expansion of the healthcare industry and stricter regulations for medical products. However, North-America is the largest region for the medical packaging market.
The key players of the global medical device packaging market include- Amcor Limited, Chesapeake Limited, E. I. du Pont de Nemours and Company, Klöckner Pentaplast Group, WestRock Company, Mitsubishi Chemical Holdings Corporation, 3M Company, Bemis Company Inc and Oliver-Tolas.
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