LONDON, June 16, 2022 (GLOBE NEWSWIRE) -- Fairfield Market Research states that the global medical packaging market is expected to be worth US$113.68 Bn by 2025 from US$75.17 Bn in 2019. Between the forecast years of 2021 and 2025, the global market is expected to register a CAGR of 7.4%, predicts the exhaustive research report. The demand for medical packaging has been bullish as the healthcare emergencies surged during the outbreak of COVID-19 pandemic. As the lockdowns eased and elective procedures we back on track, the demand for the same continued to ensure products and supplies were transported in safe and secure way.
Significant structural changes due to the ongoing coronavirus pandemic shapes the global medical packaging market
North America to represent an incremental opportunity of US$8.63 Bn by the end of 2025
Plastic is estimated to account for around 3/5th of the global market and is further expected to create highest incremental opportunity by the end of 2025
In terms of volume, bottles are estimated to account for the largest market share of 34% driven by economical price and wide usage
Medical packaging manufacturers are investing in research and development processes that can create sustainable solutions for the pharmaceutical industry.
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Bottles to Earn Sizeable Revenue
The bottle segment will hold a share of 32% in the global medical packaging market between 2021 and 2025. Convenience of bottling liquids in coloured glass, which protects the contents is expected to drive this segment during the forecast period. Use of PET bottles has led to an increased use these type of containers as they are easier to transport and store. Ability to keep the contents safe due to single-use nature of plastic bottles is expected to bode well for the segment.
Asia Pacific Leads, U.S. Follows
Asia Pacific medical packaging market held a mammoth share of 49% in the global market. This is attributable to the huge, unmet medical need. Structural reforms to the healthcare system across India and China are also driving the regional market. Meanwhile, the U.S. is expected to show a increased healthcare spending with supportive government policies.
Some of the key players operating in the global medical packaging market are Westrock Company., Becton, Amcor plc, Dickinson and Company, Mondi group, Berry Global Group, Inc, Ardagh Group S.A., Nipro Corporation, Sealed Air Corporation, Catalent, Inc., UDG Healthcare, and West Pharmaceutical Services, Inc.
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REPORT SCOPE & SEGMENTATION:
• Bottles (Packer & Liquid)
• North America
• Amcor Plc
Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Material-, Application-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply), Key Trends
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