Medical Packaging Market Business Growth, Development Factors, Applications, and Future Prospects
According to our latest research study on “Medical Packaging Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Material, and Application,” the market is projected to reach US$ 169,183.91 million by 2028 from US$ 109,238.35 million in 2021; it is expected to grow at a CAGR of 6.4% from 2021 to 2028. The report highlights trends prevailing in the market and the factors driving and restraining the market growth.
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Based on type, the global medical packaging market is segmented into containers, pouches, trays, blister packets, vials, and others. In 2021, the containers segment held the largest share of the market, by type. However, the blister packets segment is estimated to grow at a significant CAGR during the forecast period due to increasing product developments and product launches.
The growth of the market is attributed to key driving factors such as increased emphasis on convenience and environmental issues and rise in demand for counterfeit prevention mechanisms. However, fluctuations in prices of raw materials are expected to restrict the market growth to a certain extent during the forecast period. 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.; and WestRock Company are among the major companies operating in the market.
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
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