London, Oct. 21, 2022 (GLOBE NEWSWIRE) -- Global medical packaging market reached revenue of more than US$75.1 Bn in 2019 and will most likely witness 1.5x expansion through the end of 2025. A new research study published by Fairfield Market Research forecasts a healthy growth outlook for the market, reaching an estimated revenue of over US$113.6 Bn toward the end of projection period, 2021 – 2025. The report covers all the aspects of packaging associated with every step of a medical product, including everything from R&D, to production, and marketing. Consistent rise in medical spending is primarily driving the growth of medical packaging market in addition to the frequent new introductions in the key categories like medical products, devices, and treatments. The report suggests that the global COVID-19 outbreak acted as a significant factor pushing the prospects of medical packaging market.
Get the Free Sample Copy of Report at: https://www.fairfieldmarketresearch.com/report/global-medical-packaging-market/request-sample
Key Research Insights
- The report projects a strong 7.3% CAGR for the market during 2021 - 2025
- Plastics continue to beat the other material choices, maintaining more than 40% share in total market value
- Bottles remain the bestseller with over 33% value share in market
Insights into Segmental Analysis
The trend of single-use, disposable packaging of medical and related products flourished over the course of pandemic. While the same prevails post-pandemic as well, the report spots multiple windows of revenue generation opportunities for a host of plastic innovations, as well as some of the popular non-plastic high-performance materials. Currently, plastics spearhead the choice of packaging material and accounts for a market value share of more than 40%. In terms of costs, applicability, convenience, raw material availability, and consumer requirements, plastics will continue to dominate the other material segments, including metals, and glass. The report marks exceptionally growing preference for polyvinyl chloride (PVC), polyethylene (PE), and polypropylene (PP), which further augment the rate of plastics consumption across medical packaging market. On the other hand, bottles remain at the forefront in terms of packaging type with more than a third of the total market revenue. The other segments will also register notable growth according to the report. Sales of vials, and syringes remain upbeat, whereas that of medical bags also remain on an uptrend with rising demand for dialysis bags, blood/blood component(s) bags, and IV bags. Pouches and trays also emerge popular, and the other sterile, flexible, and infection-resistant packaging formats are likely to experience remarkable demand growth.
Key Report Highlights
- Rising ubiquity of single-use, disposable packaging will favour medical packaging market growth
- Amid continued dominance of bottles as a preferred medical packaging format, the report also foresees promising performance of vials, syringes, medical bags, trays, and pouches
- The US, and China remain at the forefront owing to their favourable government policies, and higher medical expenditure
Insights into Regional Analysis
Owing to the maximum medical spending, the US continues to spearhead global medical packaging market. While the US’ Affordable Care Act (ACA) is likely to uphold the top market positioning of the US, China follows banking on the rapidly improving government policies around medical expenditure. The report thus projects North America, and Asia Pacific as the top two medical packaging markets. The large patient population, and rocketing sales for medicines and the various medical supplies will keep the medical packaging demand afloat across Asian markets. Heightening sales of medical devices, and the rapid expansion of the field of diagnostics will further drive the market ahead, says the report.
Key Players in Global Medical Packaging Market
Becton, Dickinson and Company, Mondi Group, Amcor plc, Nipro Corporation, West Pharmaceutical Services, Inc., Westrock Company., Berry Global Group, Inc, Ardagh Group S.A., Sealed Air Corporation, Catalent, Inc., and UDG Healthcare are some of the leading players steering the competition landscape of global medical packaging market.
Do You Have Any Query or Specific Requirement? Request for Custom Research: https://www.fairfieldmarketresearch.com/report/global-medical-packaging-market/request-customization
REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 – 2025 | |
| Market Size in 2019 | US$75.1 Bn | |
| Estimated Market Size in 2025 | US$113.6 Bn | |
| CAGR | 7.0 % | |
| Key Players | Becton, Dickinson and Company, Mondi Group, Amcor plc, Nipro Corporation, West Pharmaceutical Services, Inc., Westrock Company., Berry Global Group, Inc, Ardagh Group S.A., Sealed Air Corporation, Catalent, Inc., UDG Healthcare | |
Market Segmentation
Material Coverage
- Plastics/Polymers
- Polyethylene
- Polyvinyl chloride
- Polypropylene
- Polyethyene terephthalate
- Others (Polystyrene & Polycarbonate)
- Glass
- Metal (Aluminum)
- Others (Paper and Paperboard)
Application Coverage
- Bottles (Packer & Liquid)
- Trays
- Syringes/Ampoules/Vials
- Blister Packs
- Bags & Pouches
- Others (Sachets, Tubes, etc.)
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Amcor Plc
- Ardagh Group S.A.
- Becton, Dickinson and Company
- UDG Healthcare plc
- Berry Global Group, Inc
- Sealed Air Corporation
- Catalent, Inc.
- West Pharmaceutical Services Inc.
- Mondi Group Plc
- Gerresheimer AG
- Constantia Flexibles Group GmbH
- Nipro Corporation
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Technology-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: sales@fairfieldmarketresearch.com
