LONDON--(BUSINESS WIRE)--The sterile medical packaging market size in US is poised to grow by USD 1.44 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The US is the largest medical device market and has grown by an estimated 81.25% between 2010 and 2017. Moreover, the US government funds a significant part of the total healthcare expenditure on medical devices, facilitating easier access to implant surgeries and medical devices for the general population. In addition, many startups and existing medical devices companies are introducing affordable and advanced medical treatment solutions. As a result, there is a significant rise in the sale of medical devices in the US, which will have a positive impact on the growth of the sterile medical packaging market in the country during the forecast period.
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As per Technavio, the increase in medical exports will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Sterile Medical Packaging Market in US: Increase in Medical Exports
The US has become a significant exporter of medical goods, particularly sterile medical instruments and advanced medical devices. The country has a robust medical device manufacturing industry owing to favorable intellectual property (IP) and patents environment. This has resulted in many domestic and international med-tech companies setting up their manufacturing and R&D operations in the region. Moreover, developing countries such as Brazil, China, and India lack access to advanced healthcare technologies, which compels them to import medical devices from the US. Thus, the increase in exports will have a significant impact on the American sterile medical packaging market growth during the forecast period.
“Other factors such as the growing focus on sustainability in medical packaging and the rising adoption of pre-validated sterile packaging will have a positive impact on the growth of the sterile medical packaging market value during the forecast period,” says a senior analyst at Technavio.
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Sterile Medical Packaging Market in US: Segmentation Analysis
This market research report segments the sterile medical packaging market in US by material (plastic, glass, aluminum, and others) and product (bottles, blister packs, thermoformed trays, and others).
The plastic segment held the largest sterile medical packaging market share in 2018. The factors driving the demand for plastics packaging are the wide degree of machinability and barrier protection offered by plastics. Plastics packaging also meets the aesthetic demands of the medical industry, and it is compatible with almost all sterilization techniques that do not require porosity.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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