The Global Medical Packaging Market is expected to grow at an annual growth rate of around 6.3% during the forecasted period 2017-2023.
A study published by the Market Research Future analysts suggests that the global medical packaging market is growing at a moderate growth rate. This is partly due to the rising demand for the packaging materials from the pharmaceuticals and medical device manufacturing industries.
A rise in the development of the diseases, and increasing need for the medication and healthcare services have boosted the medical industry also ultimately pushing the packaging industry as rising in the production of drugs and other medical products will increase the need for the packaging materials.
O the other hand, the medical packaging market is struggling with some hurdles, in terms of its growth. The packaging is primarily made from plastic material which is non-degradable and it keeps stacking in the environment which is leading to more pollution. Biodegradation is one of the bigger reasons which could slow the growth of this market. Moreover, packaging errors are the main factor that increases the patient safety issues.