Africa Baby Care Products Market - Infinium Global Research Medical Device Packaging Market -IGR 2023 | Page 2

The report on Medical Device Packaging Market by packaging type (trays, bags, pouches, clamshell packs)
trends analysis and forecasts up to 2023 studies the market sizes, key trends and opportunities in the main
geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the Global
Medical Device Packaging Market is projected to grow at a CAGR between 5.8% and 6.3% in terms of value
over the period of 2017-2023. The growth in the world market is primarily driven by significant contribution by
North America (Leading region) region to this market.
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Market Insights:-
The report identified that the medical device packaging market is driven by factors such as, growing
importance of medical device packaging to prevent counterfeiting of medical devices, growing demand for
implantable devices, and technological advancements and innovative packaging methods in medical device
packaging. On the other hand, the restraining factors identified in the study include stringent regulations in
developed economies, and requirement of huge initial capital investment.
Increasing sales of medical consumables and emergence of the pharmaceutical industry in the Asia Pacific and
Latin America provide opportunity for major players in the emerging and developing economies. Improving
the awareness about medical device packaging for products among physicians and public in non-developed
markets is a challenge for the major players to expand further during the forecast period.
Infinium Global Research