The world market for medical packaging is projected to grow steadily at an average rate of 5.9% annually until 2017, or from US$19.3 billion to US$25.7 billion, a recent study from the Freedonia Group projects. The United States will remain the largest market, and together with Europe and Japan, these regions will cover almost 60% of the total global market.
Reflecting trends in the medical device industry, these markets will grow considerably slower, however, than some emerging regions, where growth will be driven by expanding markets and stricter regulations of medical products (which are increasing the requirements for containers and other packaging). The fastest growth will occur in India, Mexico, China, Mideast and Africa. In Europe and Japan, growth will be driven primarily by stricter standards that require greater protection of medical devices.
The full study will be available for purchase within the next 60 days and presents forecasts for 2017 and 2022 for the packaging market as a whole, and broken down by product, raw material, world region and 14 major countries.Camilla Andersson