Mar 29, 2022   SOURCE: BusinessWire

Global $169 Bn Medical Packaging Market, 2021-2028: Integration of Internet of Things & Growth in Demand for Sustainable Packaging Solutions - ResearchAndMarkets.com

The "Medical Packaging Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Material: Polymer, Foam, Molded-Fiber, Non-woven Fabric, Plastic, Films, Paper & Paperboard, and Others), Type, Application and Geography" report has been added to ResearchAndMarkets.com's offering.

Perioperative Care Segment to Grow Significantly During 2021-2028

The Medical Packaging Market is projected to reach US$ 169.1 billion by 2028 from US$ 109.2 billion in 2021; it is expected to grow at a CAGR of 6.4% from 2021 to 2028.

Medical packaging is essential in sustaining product quality and encouraging safe and effective use. Packaging is done for the safety of medical products for storage, distribution, sale, and use. The material used for packaging is a sterile barrier system that safeguards the drugs, equipment, and other medical products.

Also, medical packaging requires a high quality of sterility to ensure that the product is free from contamination. These medical packaging systems increase patient safety and enhance packaging performance. Factors such as increased emphasis on convenience and environmental issues and rise in demand for counterfeit prevention mechanisms are driving the medical packaging market.

However, fluctuations in prices of raw materials are expected to restrict the market growth to a certain extent during the forecast period.

Based on material, the medical packaging market is segmented into polymer, foam, molded-fiber, non-woven fabric, films, paper & paperboard, and others. In 2021, the polymer segment held the largest share of the market, by material. Also, the same segment is expected to grow at the fastest rate during the coming years.

Key Market Dynamics

Drivers

  • Rise in Demand for Counterfeit Prevention Mechanisms
  • Increased Emphasis on Convenience and Environmental Issues

Market Restraints

  • Fluctuations in Prices of Raw Materials

Market Opportunities

  • Growth in Demand for Sustainable Packaging Solutions

Future Trends

  • Integration of Internet of Things

Major companies operating in the global medical packaging market

  • Amcor plc
  • DuPont de Nemours, Inc.
  • Mitsubishi Chemical Corporation
  • SGD Pharma
  • 3M
  • West Pharmaceutical Services, Inc
  • Avery Dennison Corporation
  • Sonoco Products Company
  • CCL Industries Inc.
  • WestRock Company

The report segments global medical packaging market as follows:

By Type

  • Containers
  • Pouches
  • Trays
  • Blister Packets
  • Vials
  • Others

By Material

  • Polymer
  • Foam
  • Molded-Fiber
  • Non-Woven Fabric
  • Films
  • Paper & Paperboard
  • Others

By Application

  • Medical Devices
  • Pharmaceutical and Biotechnology
  • Medical Equipment & Tools
  • Others

By Geography

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • France
  • Germany
  • UK
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of Middle East & Africa
  • South and Central America (SCAM)
  • Brazil
  • Argentina
  • Rest of South and Central America

For more information about this report visit https://www.researchandmarkets.com/r/88d809