The North American medical device packaging market is expected to almost double in seven years due to an ageing population and increased disease awareness.
Consulting firm Frost & Sullivan says market revenues that were $569m in 2006 are expected to rise to $918.8m by 2013.
Continuous technological advancements coupled with an increasingly ageing population are providing growth opportunities for the market, consultants say.
Frost & Sullivan research analyst Urmila Kishore says growth in the packaging market is directly linked to growth in the medical devices sector.
"The medical device packaging industry is directly dependent on the medical device industry. According to a recent study, the medical device industry is expected to grow by approximately 11% from 2005 to 2011 due to growing ageing population and increased awareness of diseases," Kishore says.
The industry faces several challenges over the coming year, including demand for improved packaging products at lower cost and the introduction of combined drug delivery systems, which requires manufacturers to come up with new innovative packaging to suit the products.
Source: packaging-technology
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