Medical device packaging market to touch USD 61.91 billion by 2027 – Market Report
According to market research report, “medical devices packaging market was valued at USD 31.32 billion in 2020 and anticipated to reach USD 61.91 billion by 2027 growing at a CAGR of 6.5%.”
The medical device packaging market growth is being driven by growing healthcare and pharmaceutical sectors. As technological advancements and rapidly industrialization continues across nations, growth in medical device packaging will continue. Moreover, increasing innovative applications of these packaging solutions in the personal care industry increase the medical device packaging market size.
Amid the ongoing pandemic and large vaccination drives across countries, the demand for medical supplies spiked and would keep rising giving impetus to market growth. Also, it is expected that the medical device packaging demand could pick up following the uplift of the lockdown in many countries.