Medical packaging is a packaging solution for medical devices, tools, drugs and other healthcare products. Packaging plays a very important role in the healthcare and medical industry as it protects products from materialistic damage, biological contamination and from all unfavourable external influences which can destruct the properties of the medical products. The global medical packaging market is estimated and forecasted in terms of revenue (USD million) for the forecast up to 2024. The major factors attributed to the rising demand of medical packaging in the healthcare industry are increasing demand for quality healthcare and medical facilities. Moreover, high investments in research and development activities in medical packaging industry by prominent players further boost the market. The current trends in the medical packaging involves development of high performance of the packaging machines and at a cost-effective price becomes an important parameter to attain an overall sustainable growth. The major factor restraining the growth of the market includes excessive cost of raw material and stringent rules and regulations imposed by the government related to the healthcare packaging industry. The global medical packaging market is segmented on basis of material such as, polymers, paper & paperboard, non-woven fabric and others. Among these materials, the polymers segment accounted for largest share in the global medical packaging market in 2017. The growth of is segment is primarily driven by the wide range application including manufacturing of packaging bags and pouch and disposable syringes. Based on application, the global medical packaging market is categorised into, medical tools & equipment, medical devices, in-vitro diagnostic products and implants. The medical tools & equipment segment dominated the market in 2017. The wide application of equipment’s and tools in the hospitals and clinics drives the growth of medical tools & equipment segment in the global medical packaging market. Based on packaging type, the medical packaging market is segmented into bags & pouches, trays, boxes and others . The bags & pouches segment is expected to command the largest share of medical packaging market owing to its characteristics including like bio-degradability and easy to use, cost effective and light weight. By packing type, the global medical packaging market is bifurcated into primary packaging, secondary packaging and tertiary packaging. The primary medical packaging is the first level of packaging which contains the actual product. Primary packaging plays a vital role in the protection of the products and protects it from damage. Primary packaging includes cap, labels, bottles, cap liner and others such as vials, ampoules, blisters, tubes, syringes and inhalers. Moreover, secondary and tertiary packaging are used to protect the primary packaging. By geography, the global medical packaging market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America is expected to be the fastest-growing region during the prediction period owing to increasing healthcare expenditure which leads to increasing demand for safe and hazardous free medical devices packaging, increasing health consciousness of the people and rising consumer demand for sophisticated packaging. Some of the key participants of the global medical packaging market are 3M, E.I. Du Pont De Nemours and Company, Westrock Company, Amcor Limited, Berry Global Inc, Avery Dennison Corporation, CCL Industries Inc, CONSTANTIA, Bemis Company, Inc, Sonoco Products Company, West Pharmaceutical Services, Inc, Technipaq Inc, Toppan Printing Co., Ltd, Thomas Packaging LLC, Tekni-Plex, Wipak Group, Oliver, Rollprint, Klöckner Pentaplast, BM, PlaconExpansions, etc. Moreover, mergers, new product developments and partnership are the key strategies implemented by key market players to expand their geographic presence in the global market.
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