Dublin, May 10, 2020 (Issuewire.com) - The global medical packaging market has witnessed substantial growth in recent years. The rise in the incidences of chronic diseases, increased penetration of internet of things devices in healthcare and medical industries as well as the growing need for counterfeit prevention are the key factors fuelling the growth of the global medical packaging market. In addition, the focus of consumers and government towards better healthcare facilities and rise in demand for sustainable packaging solutions are other important factors propelling the growth of the medical packaging market.
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Medical Tools and Equipment application is estimated to dominate the medical packaging market in 2016 owing to it’s increased usage in hospitals for various purposes. On the basis of packaging type, Bags & Pouches held the major share in 2016 owing to their features such as user-friendly, environment-friendly as well as lightweight. On the other hand, the polymer material segment is expected to grow at the highest CAGR during the forecast period as it is being extensively used to produce bags and pouches, disposable syringes, gloves, among others.
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North America is estimated to dominate the medical packaging market in 2016. The key factors fuelling the growth of the market include favourable government policies and regulations, better healthcare infrastructure as well as high spending on healthcare by consumers. The United States is the key country in the region accounting for the maximum share.
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This research report on medical packaging market provides an in-depth analysis of the global medical packaging market based on material, application, packaging type and major geographies for the period from 2016 to 2021. The report highlights the major market drivers pushing the growth and challenges faced by market participants. The research report provides market size and forecast for the medical packaging market. The report also analyses the competitive landscape and the major player and their strategies in 2016. The competitive landscape section of the report also captures and highlights the recent development in the market.
Key questions this research would answer:
Is the medical packaging market growing? How long will it continue to grow and at what rate?
What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
What are the regional revenue and forecast breakdowns? What are the regional hotspots for growth in the medical packaging market?
What are the various application areas and how they are poised to grow?
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