Medical Packaging Market

3M Company (U.S.) and E. I. du Pont de Nemours and Company (U.S.) are the Key Players in the Medical Packaging Market

Medical packaging has been widely used for the packaging of medical devices, equipment, implants, and medicines. MarketsandMarkets projects that the medical packaging market size will grow from USD 35.31 Billion in 2016 to USD 50.55 Billion by 2022, at a compound annual growth rate (CAGR) of 6.29% from 2017 to 2022. Rise in income levels, growth in healthcare awareness, and increase in incidences of chronic conditions will drive the market for medical packaging.

The global market for medical packaging is dominated by large players such as Avery Dennison Corporation (U.S.), 3M Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), CCL Industries, Inc. (Canada) , Amcor Limited (Australia), Constantia Flexibles Group GmbH (Austria), Bemis Company (U.S.), Sonoco Products Company (U.S.), and WestRock Company (U.S.). These players adopted various strategies to expand their global presence and increase their market share. Mergers & acquisitions, expansions, and new product launches are some of the major strategies adopted by the players to achieve growth in the medical packaging market.

Mergers & acquisitions, collectively, accounted for the largest share of 58% of the total strategic developments in the global medical packaging market. Companies adopted this strategy to expand their geographical reach, acquire new projects, strengthen their product & service portfolios, and cater to untapped markets. Avery Dennison Corporation (U.S.), 3M Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), were the major companies that adopted this strategy.

3M is one of the key players in the medical packaging category. The company emphasizes on R&D activities; it invested 1.80 billion towards R&D to develop new technology and offer advanced products. The company used mergers & acquisitions as its key strategy for its growth in the medical packaging industry. The company, in March 2015, acquired Ivera Medical Corp. (U.S.), a manufacturer of healthcare products. The business is now a wholly owned subsidiary of 3M and a part of its Critical & Chronic Care Solutions Division.

WestRock makes high investments in the field of packaging. The company focuses on expanding its business, both geographically and in terms of end-use applications. The company adopts strategies such as mergers & acquisitions to capture a larger market share. It is one of the world’s largest recyclers of paper fiber, which is a raw material used by the company. In January 2017, WestRock acquired Multi Packaging Solutions (U.S.). This acquisition enhanced WestRock’s position as a leading provider of differentiated paper and packaging solutions.

Related Reports:

Medical Packaging Market by Material (Polymer, Non-woven Fabric, Paper & Paperboard), Packaging Type (Bags & Pouches, Trays, Boxes), Application (Medical Equipment & Tools, Medical Devices, Implants, IVDs), Packing Type, and Region - Forecast to 2022

Contact:
Mr. Rohan
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
sales@marketsandmarkets.com

Report Code
PK 5436
Published ON
Jul, 2017
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Medical Packaging Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved