CRI Report has released a report titled “Medical Packaging Paper market – Analysis of Market Size, Share & Trends for 2020 – 2030 and Forecasts to 2030” which is anticipated to reach USD 57.23 billion by 2030. According to this Report, the market is anticipated to portray a CAGR of 8.06% between 2020 and 2030. According to the report, the market is estimated to proliferate owing to the rising demand for improved healthcare and medical facilities, as well as increased medical awareness among consumers throughout the world. The industry is being driven by the expanding pharmaceutical market in emerging nations and the expansion of drug delivery methods. Flexible packaging solutions are widely used in the medical and pharmaceutical industries due to product diversity, low weight, ease of disposal, and the need for less raw material, all of which are driving market expansion.
The market report on global Medical Packaging Paper market includes in-depth insights as:
- The estimated value of the market was USD 26.35 billion in the year 2020.
- Region-wise, the market in North America which held the largest market share in the year 2020, emerged as a key market for Medical Packaging Paper market.
- Based on Packaging types, Pouches and bags emerged as a key segment in the global Medical Packaging Paper market.
- Based on End-User, the Pharmaceutical manufacturing segment emerged as a key segment in the global Medical Packaging Paper market.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“The rising prevalence of chronic illnesses such as hypertension, diabetes, and cancer would boost the medical packaging market’s growth. In addition, technological advances in the medical and healthcare industries, such as the use of IoT devices, will boost market growth. The global medical packaging industry will benefit from rising concerns about providing better services to consumers and government efforts.”, according to this report
Paper packaging materials have a number of advantages, including the fact that they are easily recyclable, light, and long-lasting. It functions as a barrier to keep microorganisms out of the product. The industry offers a wide range of medical packaging options. Containers, wrappers, and other similar items are among them. Medical packing aids in the protection of items against contamination. Especially due to the COVID19 Outbreak globally, people have become more serious about hygienic packaging which has increased the need for germ-free products and efficient packaging.
Global Medical Packaging Paper market is segmented by Packaging type into Trays, Boxes, Pouches and bags, and others. Among these the pouches and bags category dominated the market in 2020, accounting for the bulk of global sales. A wide range of medical goods are packaged in pouches and bags. In the healthcare business, Amcor is a prominent manufacturer and supplier of pouches and bags. Over the projected period, the market is likely to be driven by the development of customized pouches and bags with high-barrier packaging.
Key Players in the Market
- Some of the key players operating in the Global Medical Packaging Paper market are Amcor Plc, Constantia Flexibles Group GmbH, Cosmo Films Ltd, Essel Propack Ltd, Jindal Poly Films Ltd, Oji India Packaging Pvt. Ltd, Tetra Laval International SA, TPCL Packaging Ltd, UFlex Ltd, Uma Group.
Get Valuable Insights into Global Medical Packaging Paper market
In the new report, CRI Report thrives to present an unbiased analysis of the Global Medical Packaging Paper market that covers the historical demand data as well as the forecast figures for the period, i.e., 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by Packaging Type into Trays, Boxes, Bags & Pouches, Others. By Packing Type into Primary, Secondary, Tertiary. By Application into Medical Tools & Equipment, In-Vitro Diagnostic Products, Medical Devices, Others. By End-User into Hospitals, Clinics, Forensic, Pharmaceutical manufacturing. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.
COVID-19 Impact on Medical Device Packaging Market: By Packing Type (Primary, Secondary, and Tertiary); By Product (Bags & Pouches, Boxes, Trays, and Others); By Material (Polymer, PVC, Polyethylene Terephthalate (PET), Paper & Paperboard, PE and Others); By Application (Medical Tools & Equipment, Medical Devices, In-Vitro Diagnostic Products, and Implants) and Region – Global Analysis of Market Size, Share & Trends for 2019–2020 and Forecasts to 2030