The global medical device packaging market is anticipated to grow significantly over the forecast period. Several factors including rapid technological developments in the medical device industry coupled with the introduction of several advanced medical devices that require specialized packaging are expected to drive the market over the forecast period. In addition, increasing spending on healthcare services owing to rising health awareness is further expected to have a positive impact on market growth.
Packaging in the case of medical devices must be able to maintain its sterility across the supply chain. In addition, it must protect the medical devices from contamination as well as mechanical damage during transportation and storage thereby maintaining the overall quality & integrity of the product. The medical device industry is characterized by several technological innovations in medical equipment, tools, and apparatus among others which is in turn expected to have a positive impact on the medical device's packaging market growth.
The medical device industry comprises a large number of products ranging from surgical tools to imaging equipment that are used for the treatment of a wide range of illnesses and diseases. Apart from standard medical devices that are compatible with a number of patients, increasing the development of patient-specific medical devices is further likely to have a positive impact on the medical device packaging market growth over the forecast period.
Moreover, several factors including the aging population coupled with growing investments in the healthcare sector especially in several emerging countries are projected to augment the demand for medical devices which is in turn expected to drive the demand for medical device packaging over the forecast period. Furthermore, the increasing focus of packaging companies on providing sustainable and cost-effective packaging for medical devices is further anticipated to propel the market growth.
Based on material, the medical devices packaging market has been segmented into plastic, paper & paperboard, foils, glass, and others. Plastic is one of the widely used materials for manufacturing medical device packaging. A wide range of plastic types such as polyethylene (PE), polyethylene terephthalate (PET), and polypropylene (PP) among others are used for producing medical device packaging. Plastics are used for manufacturing flexible, semi-rigid as well as rigid structures used for packaging medical devices.
On the basis of product, the market has been segmented into pouches, clamshell packs, boxes, trays, bags, blisters, and others. The pouches product segment is likely to have the highest growth rate over the forecast period. Pouches are used for packaging of several medical products including surgical instruments, diagnostic products, and biomedical equipment among others. Pouches offer good barrier properties coupled with puncture resistance thereby augmenting their use in medical device packaging.
On the basis of application, the medical device packaging market has been segmented into sterile packaging and non-sterile packaging. Sterile packaging is used for medical devices in order to avoid contamination as well as to protect them from physical damage. In addition, sterile packaging is used for medical devices where it is of utmost importance to maintain their sterile condition during storage and transportation. Thus, various factors such as packaging material, package integrity, and quality of seals among others should be considered for sterile packaging.
The sterile packaging application segment is likely to have the highest growth rate over the forecast period. On the other hand, some medical devices are sterilized before they are used or opened and do not require sterile packaging. These devices require packaging for their protection from vibration, temperature, and shocks during transportation and storage.
Based on the region, the medical devices packaging market is bifurcated as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North America region is likely to account for the largest share in the market. The growth is largely driven by the U.S. owing to the presence of a large number of medical device companies coupled rapid innovations in the medical device industry which is in turn expected to favor the market. In addition, medical devices are also exported to several countries which is further anticipated to fuel the market growth.
Europe is also projected to hold a substantial share in the global medical devices packaging market. The market is largely driving by new product innovations coupled with regulations and standards pertaining to medical device packaging. Asia Pacific region is likely to exhibit a significant growth rate over the forecast period. Factors such as growing population coupled with growing investments in the healthcare sector are in turn expected to boost the demand for medical devices thereby benefitting the market growth.
Major players operating in the medical device packaging market include Amcor plc, DuPont, Placon Corporation, Sonoco Products Company, Printpack, Klöckner Pentaplast, Berry Global Inc., Technipaq Inc., Constantia Flexibles, Plastic Ingenuity, and Tekni-Plex among others. Companies operating in the market are adopting strategies such as mergers & acquisitions, and new product developments among others to gain competitive advantage.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor.