Medical packaging market to grow over $50 billion by 2022
A new MarketsandMarkets (marketsandmarkets.com) report reveals that the medical packaging market will grow from U.S. $35.31 billion in 2016 to U.S. $50.55 billion by 2022, at a compound annual growth rate (CAGR) of 6.29% from 2017.
The growing market for implantable devices is a major driving factor for growth in the medical packaging market. Growth of the healthcare market will lead to growth of the medical packaging market. Increase in healthcare awareness in different regions, especially in developing ones, boosts the growth of the medical packaging market. Rise in disposable incomes in developing countries increases the expenditure on healthcare facilities.