GVR Report cover Medical Device Packaging Market Size, Share & Trends Report

Medical Device Packaging Market Size, Share & Trends Analysis Report By Material (Plastic, Metal), By Product (Pouches & Bags, Boxes), By Application (Equipment & Tools, IVD), By Region, And Segment Forecasts, 2020 - 2028

  • Published Date: Aug, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68038-308-9
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 136

Report Overview

The global medical device packaging market size was valued at USD 29.78 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2020 to 2028. The increasing demand for medical devices such as surgical implants and instruments, medical supplies, electro-medical equipment, in-vitro diagnostic equipment and reagents, irradiation apparatuses, and dental goods has been driving the demand for medical device packaging products. Unhealthy lifestyles of people have been resulting in the high prevalence of chronic diseases, such as heart disease, cancer, diabetes, stroke, and arthritis, in recent years, especially in developed economies. These above-mentioned diseases require various medical equipment for diagnosing and treatment and have been contributing to the growth of the medical device market over the past five years.

U.S. medical device packaging market size, by product, 2018 - 2028 (USD Billion)

The manufacturers have been offering the products with various technologies, such as peal/seal and counterfeit technology. These are aimed to offer convenience and shield center fire products. Solutions such as 2-D barcode with unique numbering/ serialization, UV identification code, hologram, or hidden text printed using security or magnetic ink can be used to deliver full protection to product counterfeiting.

The U.S. has emerged as the largest market for medical device packaging due to the robust medical sector and the presence of numerous entities catering to the healthcare domain. The country holds a competitive advantage in terms of instrumentation, technology, software development, and high investments in the R&D field, resulting in high production volumes of medical devices.

The U.S. has the highest per-capita healthcare expenditure in the world, which stood at USD 10,966 in 2019. The national health expenditure in the year 2019 was 17.7% of its GDP. The country’s demography is changing with an increasingly aging population. With the rising old-age population, the need for robust healthcare services becomes a priority in order to treat chronic diseases, such as heart-related illnesses, arthritis, diabetes, hypertension, and depression.

Material Insights

Plastic held the largest share of over 60.0% in 2020 and is likely to maintain its position over the forecast period. Plastic emerged as the most widely used material in the market in 2020. Various types of plastic include low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), polypropylene (PP), and polyethylene terephthalate (PET). The aesthetics offered by plastic materials, such as the ability to appear in the range from opaque to clear, increase their applicability in the market. Plastics are highly safe, hygienic, versatile, and durable. Furthermore, they are lightweight and cost-friendly, which makes them a perfect choice for manufacturing medical device packaging.

Aluminum is the most common metal used in medical device packaging. It is effective against moisture, oxygen, and light; thus, it is majorly used as a foil in medical device packaging. On account of these properties, the demand for aluminum is increasing in medical devices that incorporate pharmaceuticals and biologics. On the back of these factors, the metal segment is expected to expand at the highest CAGR of 7.2% over the forecast period.

Product Insights

The pouches and bags segment held the largest share of more than 35.0% in 2020. They effectively pack small, mid-sized, and large medical devices. Their small size and high product-to-package ratio enable easy storage and handling of medical devices. Pouches and bags, when manufactured using appropriate materials like LLDPE and PET, have the ability to offer protection to devices against light, moisture, and gases.

Trays come in different formats such as plastic medical trays, medical shipping trays, and medical inspection trays. Trays are more durable for the packaging and shipping of medical parts and machine parts of medical devices. The majority of trays are produced from different types of plastics, but some applications require them to be made from vinyl due to their high rigidity.

Packaging for medical devices and related components is highly regulated and should meet specific requirements. Boxes that are prepared with cardboard are widely used for the safe packaging and transportation of medical devices. These boxes can be used for the packaging of small-sized to large-sized devices.

Application Insights

Equipment and tools held the largest share of over 30.0% in 2020. They require flexible packaging with a high degree of sterilization. The majority of the tools come in flexible packaging materials, such as plastic pouches, plastic trays, bags, and clamshells. Furthermore, the equipment segment offers medical device packaging solutions for CT scanners, X-ray machines, MRI machines, ultrasound scanners, and many other diagnostic medical devices. These are large-size devices and need structured packaging solutions as they are potentially purchased by hospitals and other healthcare facilities.

Global medical device packaging market share, by application, 2020 (%)

The in-vitro diagnostic (IVD) application segment is expected to register the fastest CAGR of 7.3% over the forecast period. This growth is attributed to the high adoption of IVDs for testing COVID patients. As the demand for these testing kits is increasing rapidly owing to the rising threat of coronavirus, especially in developing regions, the demand for packaging these products is expected to increase over the projected period.

An implantable device is an emerging sector in medical science and secure packaging of such devices is the key component of these life-saving tools. The pandemic severely impacted the aesthetic implants market. On account of these factors, the demand for medical device packaging in the implant segment witnessed a decline in 2020. However, the market is expected to grow post-2021 as the healthcare sector is expected to be on track.

Regional Insights

Europe held the largest share of over 32.0% in 2020. Following Germany, the U.K. emerged as a key market in 2020. The country is characterized by the presence of several well-established device manufacturing companies operating locally as well as in the international market. The U.K. is known as the key exporter of medical devices globally and is at the forefront of innovation and developments in medical technology. On account of these factors, the demand for medical packaging in the country is expected to grow over the projected period.

North America captured the second-largest share in 2020 on account of the robust medical sector and the presence of numerous entities catering to the healthcare domain. The U.S. holds a competitive advantage in terms of instrumentation, technology, software development, and high investments in the R&D field, resulting in high production volumes of medical devices. The U.S. alone accounts for about 40% of the medical devices manufactured globally.

Asia Pacific is expected to witness the fastest growth over the forecast period. In Asia Pacific, China is the world’s fastest-growing economy and one of the biggest markets for medical devices in the world. Due to the economic development in China, a number of investments are going into the healthcare industry. The healthcare industry of China is expected to continue to expand in the coming years.

Key Companies &  Market Share Insights

Major companies are involved in the acquisition of other companies to expand their product portfolio and increase manufacturing capacity. The presence of internationally renowned public players in the market space is likely to lead to the increased instances of mergers & acquisitions over the forecast period, given the inability of smaller and privately held players to compete with the international market participants in terms of revenue generation, regional/global presence, and the establishment of distribution channels. Some prominent players in the global medical device packaging market include:

  • Amcor plc

  • Sonoco Products Company

  • Mondi

  • CCL Industries

  • Constantia Flexibles

  • WestRock Company

  • Berry Global Inc.

  • Glenroy Inc.

  • SteriPack Group

  • Riverside Medical Packaging Company Ltd.

Medical Device Packaging Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 32.18 billion

Revenue forecast in 2028

USD 48.97 billion

Growth Rate

CAGR of 6.4% from 2020 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2020 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2020 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Material, product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; France; Italy; Spain; U.K; China; Japan; India, Australia, Brazil; Saudi Arabia

Key companies profiled

Amcor plc; Sonoco Products Company; Mondi; CCL Industries; Constantia Flexibles; WestRock Company; Berry Global Inc.; Glenroy Inc.; SteriPack Group; Riverside Medical Packaging Company Ltd.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global medical device packaging market report on the basis of material, product, application, and region:

  • Material Outlook (Revenue, USD Million, 2017 - 2028)

    • Plastic

    • Paper & Paperboard

    • Metal

    • Others

  • Product Outlook (Revenue, USD Million, 2017 - 2028)

    • Pouches & Bags

    • Trays

    • Boxes

    • Clamshells

    • Others

  • Application Outlook (Revenue, USD Million, 2017 - 2028)

    • Equipment & Tools

    • Devices

    • IVD

    • Implants

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • U.K.

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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