Micro Packaging provides various benefits for pharmaceutical, medical device and diagnostics applications such as compact size, lightweight, hermetic sealing, and system integration capabilities. Advantages of micro packaging include precise portioning of drugs, improved reliability and shelf life of drug delivery devices and medical electronics.
The global Micro Packaging Market is estimated to be valued at Us$ 1.46 Bn in 2023 and is expected to exhibit a CAGR Of 9.5% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Adoption of Micro Packaging in healthcare industry has accelerated in recent years. Growing demand for miniaturization of medical devices and wearable health monitors has driven the need for micro packaging solutions. Precise micro packaging allows fabrication of very small medical devices that can be attached or implanted in the body. It helps enable development of advanced healthcare technologies such as minimally invasive surgical robots, implantable biosensors and drug delivery systems. As healthcare costs rise, micro packaging is playing a vital role in reducing device sizes, increasing portability and improving treatment outcomes in a cost effective manner. This is expected to significantly contribute to the high growth of the micro packaging market over the forecast period.
Segment Analysis
The micro-packaging market is dominated by skin and wound care sub-segment within healthcare applications. This is because micro-packaging finds high application in products related to wound dressings, bandages, and plasters that require sterile and small packaging. The precision and miniature size offered by micro-packaging helps increase the portability and ease-of-use of these skin and wound care products.
Key Takeaways
The Global Micro Packaging Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 9.5% during this period and reach a size of US$ 1.46 Bn by 2024.
Regional analysis:
Asia Pacific region is expected to be the fastest growing as well as most dominating regional market for micro-packaging. This is due to rising medical tourism, growing healthcare expenditure, and increasing focus of pharmaceutical manufacturers in Asia Pacific countries. Countries like China, India, Vietnam, Malaysia, and Indonesia are projected to offer high growth opportunities for micro-packaging manufacturers.
Key players operating in the Micro Packaging market are Koninklijke Philips N.V., SCHILLER, Midmark Corporation, Smiths Medical, Vyaire Medical, Inc., SDI Diagnostics, Nihon Kohden Corporation, COSMED srl, Fukuda Sangyo Co. Ltd., Medicare Systems, MGC Diagnostics Corporation, LabTech, Vitalograph, Futuremed, Geratherm Medical AG, Guangzhou Medsinglong Medical Equipment Co., Ltd, Aluna, and Welch Allyn.
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"Nano technology, the technology on which micro packaging is based upon, has witnessed significant innovative breakthroughs since the early 2000s.
Active packaging, intelligent packaging, nano bar codes are some of the inventions which gave rise to the development of micro packaging concept.The formation of a resistant layer of few millimeters thick by utilizing nano-particles is called as micro packaging.
Micro packaging can be used in beverages, food, and pharmaceutical sectors.Micro-perforated food packaging is used for perishable food products, aiming to extend shelf life and improve moisture retention of the products.
This is employed in various applications, including fruits and vegetables, bakery and confectionery, ready-to-eat meals, and meat and seafood packaging.
Micro packaging includes addition of certain nanoparticles into shaped objects and films so as to render them light, fire-resistivity and strength in terms of mechanical and thermal performance, as well as less permeable to gases.The major drivers are the advantages of food, beverages, and pharmaceuticals lasting longer, coupled with remaining free from any contamination.
Investment in R is required to examine effects of nano-particles on human health.
The Global Micro-Perforated Food Packaging Market was valued at USD 1507.26 million in 2021 and is expected to reach USD 2171.75 million by the year 2027, at a CAGR of 5.41%.A Recent Research Report on the Global Micro-perforated Food Packaging Market features an overview and comprehensive explanation of the industry.
It segregates useful and relevant market information and provides readers with validated estimates of market size and forecast figures, including CAGR and key segment share.Micro-perforated food packaging is a material used for food and beverage packaging, to promote moisture retention and extend the shelf life of products.
Micro-perforation consists of perforating packaging films with holes ranging from a diameter of 30mm to 200mm.
This packaging offers several benefits, including long shelf life and moisture retention in food products.Request for Free Sample Report: https://introspectivemarketresearch.com/request/4909The research covers the current Rectifiers market size and its growth rates based on annual records with key players / manufacturers company scheme:Sealed Air, COVERIS, Amcor Limited, Mondi plc, Ultraperf Technologies, KM Packaging Services Ltd, Bolloré Group, Amerplast, Uflex LtdThe growth of retail chains and increasing health awareness among consumers in developing countries due to rapid urbanization and changes in living standards are expected to drive revenue growth from the micro-perforated food packaging market .
Additionally, the growing demand for non-toxic packaging material that helps extend the shelf life of food products is expected to support revenue growth from the target market.Global Micro-Perforated Food Packaging: Market SegmentationThe report further studies the market development status and future trend of the Micro-perforation for Food Packaging market worldwide.
Segmentation of the market by type and by applications to investigate completely and deeply and reveal the profile and perspectives of the market.The Micro-Perforated Food Packaging market is segmented on the basis of type such as:PolyethylenePolypropylenePETOthersThe Micro-Perforated Food Packaging market is segmented on the basis of Application such as:Fruits & vegetablesBakery & confectioneryReady-to-eatOthersRegions and Countries Level Analysis:North America (U.S., Canada, Mexico)Europe (Germany, U.K., France, Italy, Russia, Spain etc.
