The medical packaging market was valued at 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. Factors such as increased emphasis on convenience and environmental issues and rise in demand for counterfeit prevention mechanisms are driving the medical packaging market.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "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" - https://www.reportlinker.com/p06130857/?utm_source=GNW
However, fluctuations in prices of raw materials are expected to restrict the market growth to a certain extent during the forecast period.
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, the 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.
The global medical packaging market is segmented based on type, material, and application.Based on type, the medical packaging market is categorized into containers, pouches, trays, blister packets, vials, and others.
In 2021, the containers segment held the largest share of the market, by type.The blister packets segment is estimated to grow at a significant CAGR during the forecast period, owing to increasing product developments and product launches.
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. Based on application, the medical packaging market has been segmented into medical devices, pharmaceutical and biotechnology, medical equipment & tools, and others. In 2021, the pharmaceutical and biotechnology segment held the largest share of the market. The same segment is estimated to grow at significant CAGR during the forecast period, due to the growing production of pharmaceutical and biotechnology products in the global markets because of the increasing prevalence of chronic diseases.
Medical packaging manufacturers, OEMs, manufacturing organizations, automotive manufacturers, construction organizations are among the primary and secondary sources referred to while preparing the report on the medical packaging market.
Read the full report: https://www.reportlinker.com/p06130857/?utm_source=GNW
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