LONDON, Sept. 22, 2015 /PRNewswire/ -- Medical devices refer to equipment, tools, apparatus and machines used in the health care industry. The Global Medical Devices Packaging market was worth $21.64 billion in 2014 and is projected to reach $30.5 billion by 2020, at a compound annual growth rate of 5.9%. North America and Western Europe together account for 50% of the market. Moreover, North America is expected to drive the market during the projected period.
The growth of Medical Devices Packaging market is driven directly by its end use industry, i.e., Medical devices industry. More innovations are coming up in the packaging of these devices so as to be tamper evident, and child-resistant. The industry is highly susceptible to government regulations, which in turn vary with country. As such, most of the country's/region needs are met by domestic production while generic are shipped.
Medical devices market is growing in North America region and as such the volume sales of Medical Devices Packaging is expected to increase since it is directly related to the sales of end market. But, on the other hand, the industry is under pressure to reduce prices as the end use industry is focusing more on bringing in innovative products through investments in R&D.
Medical Devices Packaging market is highly fragmented with large number of players manufacturing varieties of packaging products for medical devices across regions. But, on the other hand, the industry is witnessing mergers and acquisitions / consolidation of packaging players in recent times, owing to pressure on the companies to reduce prices.
What the report offers
Market Definition for the Medical Devices Packaging along with identification of key drivers and restraints for the market.
Market analysis Medical Devices Packaging Market, with region specific assessments.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
Identification and analysis of the Macro and Micro factors that affect the Medical Devices Packaging Market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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