SAN FRANCISCO, Oct. 21, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Medical Devices Packaging - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: April 2021
Executive Pool: 1437
Companies: 46 - Players covered include Albea Group; Amcor Ltd.; Bemis Co., Inc.; Berry Global, Inc.; Mitsubishi Chemical Holdings Corporation; SteriPack Group; Technipaq, Inc.; WestRock Company and Others.
Coverage: All major geographies and key segments
Segments: Application (Equipment & Tools, Devices, IVD, Implants); Product (Bags and Pouches, Trays, Boxes, Other Products)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Medical Devices Packaging Market to Reach $37.9 Billion by 2026
Amid the COVID-19 crisis, the global market for Medical Devices Packaging estimated at US$28.2 Billion in the year 2020, is projected to reach a revised size of US$37.9 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Bags and Pouches, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$18.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Trays segment is readjusted to a revised 4.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $8.1 Billion in 2021, While China is Forecast to Reach $7.6 Billion by 2026
The Medical Devices Packaging market in the U.S. is estimated at US$8.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.6 Billion by the year 2026 trailing a CAGR of 7.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.
Boxes Segment to Reach US$3.1 Billion by the year 2026
In the global Boxes segment, USA, Canada, Japan, China and Europe will drive the 4.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.7 Billion in the year 2020 will reach a projected size of US$2.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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SOURCE Global Industry Analysts, Inc.