(Health-NewsWire.Net, April 16, 2018 ) In this market research report, analysts have estimated the global healthcare packaging market to grow at a CAGR of over 6% by 2020. Much of this marketís growth can be attributed to the recent increase in the usage of disposable medical products. A large number of the medical products used in modern healthcare facilities, such as scalpels, thermometers, syringes, needles, pre-filled syringes, and trays, are available as disposable products. Since these products offer benefits such as reduction in risk of cross-contamination, safety, sterility, and convenience of usage, the demand for plastic and paper as packaging materials has increased. Single-use disposable medical products eliminate the need for re-sterilization for repeated use and are highly cost-effective.
During 2015, North America was the largest market for healthcare packaging and is anticipated to retain its dominant market position by the end of 2020. In this region, the US will be the primary revenue-generating region during the forecast period as the demand for innovative forms of packaging in the US is propelled by stringent regulations by watchdog agencies like the FDA. It has also been observed by the analysts that the overall growth of the market in the US will be hindered by the rising demand in emerging countries that import large volumes of pharmaceutical products.
The market is divided into the following segments based on geography:
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Competitive landscape and key vendors
The global healthcare packaging market is fragmented owing to the presence of several multinational, regional, and local vendors. The local players have raised the bar for competition by offering innovative solutions at lower prices than their counterparts, thus, leading to price wars. The smaller and local vendors compete in terms of cost as it is difficult for them to compete with international vendors in terms of product quality, features, and range of offerings.
Key vendors in this market are -
Other prominent vendors in this market are Alexander, American Health Packaging, AptarGroup, Barger Packaging, Cardinal Health, Catalent Pharma Solutions, CCL Industries, Clondalkin Group Holdings, Constantia Flexibles, CWS Packaging, Datwyler Pharma Packaging, EUROMEDEX, Global Closure Systems, Intrapac Group, Klockner Pentaplast Group, Korber, Menasha Packaging, Nampak, NNE, Nypro Packaging, RPC Group, Steripack, Vitro, and Winpak.
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Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Geographical segmentation
PART 07: Market drivers
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