Increasing awareness of care providers towards enhancing patient safety is a prominent factor pushing the revenue growth of the clinical alarm management market. Others revenue drivers include rising medtech investments by governments of all major countries and promoting access to basic healthcare across all sections of the society. Integrated alarm system designs are often not standardized across different medical equipment systems and devices.
Medical Packaging Market Information: By Material (Film, Fabric, Tyvek), Type (Container, Vial, Tray, and Pouches), Application (Medicals, Research, Diagnostics, Plastic Industries), End User (Hospitals, Clinics, and Forensic) - Global Forecast till 2023
Medical packaging plays an important role in sustaining product quality and encourage safe and effective use. The growing market for implantable devices, growth of healthcare market, increasing awareness of healthcare in different region, especially in developing countries such as India and China are adding fuel to the global medical packaging market growth. Moreover, rising disposable income in developing countries increasing the expenditure on healthcare facilities. The improvement in technology of sustainable packaging and innovation in pharmaceuticals and life science are key drivers of the market.
Packaging is the technology for the safety of medical products for distribution, storage, sale, and use. These packaging materials are an essential part of medical packaging that act as safeguard for drugs, equipment and the health of millions patients. The rising healthcare cost is likely to restrict the growth of the global medical packaging market over the forecast period. According to FDA, packaging also refers to the procedure of designing, evaluating and producing packages. Moreover all packaging materials must be examined to maintain quality standard and all the operation for packaging should be separated to avoid the chances of confusion between similar products. FDA regulation covers medical packaging under two part, that includes K--Labeling and Packaging, According to them, all the manufacturers shall ensure that device or drugs packaging and shipping containers are designed and constructed to preserve the device from damage during the customary conditions of processing, storage, handling, and distribution.
The global medical packaging market is expected to grow at a CAGR of 6.3% during forecasted period 2017-2023.