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Hermetic Packaging Market Size

Report ID: GMI4470
Published Date: Nov 2022
Report Format: PDF

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Hermetic Packaging Market Size

Hermetic Packaging Market size was valued at over USD 3.7 billion in 2022. Driven in-part by the rapid development of North America’s healthcare infrastructure, the market is slated to register a 7.5% CAGR from 2023 to 2032.

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Increasing healthcare investments, ease of access to cutting-edge products, and expanding elderly population in North America is slated to positively shape the market outlook. As per the U.S. Census Bureau, by 2060, nearly one in four Americans will be aged 65 or above and the number of people above 85 will triple, augmenting the demand for pacemakers. In fact, the US FDA is increasingly handing out clearances for advanced pacemakers, creating further impetus for market growth. This positive outlook for the region’s pacemaker market is slated to greatly favor hermetic packaging industry growth.

Hermetic Packaging Market Report Attributes
Report Attribute	Details
Base Year:	2022
Hermetic Packaging Market Size in 2022:	3.7 Billion (USD)
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	7.5%
2032 Value Projection:	7.9 Billion (USD)
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	203
Segments covered:	Configuration, Product, Application, Sector and Region
Growth Drivers:	Increasing military & defense expenditure in the U.S. Rising global demand for commercial aircraft Development in the healthcare sector in North America
Pitfalls & Challenges:	Stringent standards for hermetic packaging

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Authors: Kiran Pulidindi, Saurabh Bhalerao

Frequently Asked Questions (FAQ) :

In 2022, the global market size for hermetic packaging held a valuation of over USD 3.7 billion and is expected to grow at 7.5% CAGR between 2023 and 2032.

Leading players in the hermetic packaging industry include names such as Renesas Electronics Corporation, Materion Corporation, Micross, EGIDE, Legacy Technologies Inc., Willow Technologies, among others.

European market from hermetic packaging is anticipated to witness over 7.5% CAGR from 2023 to 2032, driven by increasing spending on military and defense, R&D initiatives in the medical sector, and growing demand for luxury and automated vehicles.

The metal can configuration segment is poised to witness more than USD 4.2 billion by 2032, owing to its affordability, and increasing demand in linear and hybrid applications.