The medical device packaging market in North America is forecast to grow at a CAGR of 6.25% during the period 2017-2021.
The report, Medical Device Packaging Market in North America 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the rising focus on sustainability. The vendors in the medical device packaging market in North America are increasingly focusing on sustainability. This raises the demand for environment-friendly and economic solutions. Nowadays, consumers are becoming conscious of the environment. With manufacturers focusing on sustainable solutions, this will boost their brand image as well as the sales, thereby motivating them to offer more profitable solutions.
According to the report, one of the major drivers for this market is the technological advances in medical device packaging. With the advances in technologies, the packaging of medical devices is becoming easier with time, which is helping in the growth of the medical device packaging market in North America. This is because technological advances help the companies to offer quick and effective results. Also, such advances motivate the companies to provide innovative solutions to their customer.
Further, the report states that one of the major factors hindering the growth of this market is Achieving cost-effectiveness in medical device packaging. One of the key challenges in the medical device packaging market is achieving cost-effectiveness to provide affordable and sustainable solutions to the end-users. Another fundamental requirement for the development of cost-effective medical device packaging is to focus on cost reduction, which primarily includes the cost of packaging materials and the cost of operations.