Global Medical Device Packaging Size, Share, Trends, Share, Segments by Material (Plastic, Paper & Paperboard and others), by Product (Pouches, Trays, Bags, Clamshell Packs and others), and Region – Forecast to 2022
Medical Device Packaging Market Synopsis
As per a detailed analysis by Market Research Future, the global medical device packaging has the potential to rise by 6% CAGR, touching a valuation of USD 30 billion during the forecast period (2017-2023). The booming healthcare industry is contributing to the market growth. Medical device packaging is a vital part of delivering a device to the market safely and securely, keeping the sterile barrier intact. The packaging allows the contents to be sterilized and maintain its sterility until it is used. The types of packaging include overwraps, bags, trays, pouches, and clamshells.
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The prominent players operating in the global medical device packaging market comprises Bemis Company Inc, Amcor Limited, E. I. du Pont de Nemours and Company, Chesapeake Limited, 3M Company, Klöckner Pentaplast Group, Mitsubishi Chemical Holdings Corporation, WestRock Company, and Oliver-Tolas.
Market Potential and Pitfalls
The medical device packaging market is witnessing a tectonic surge over the past few years due to the expanding medical device packaging market. The surging need for flexible packaging for medical devices increased innovative products like child resistant and tamper evident packaging are some of the top factors presumed to contribute to the growth of the medical device packaging market. With the rising expenditure on healthcare coupled with the growing awareness regarding health especially among the geriatric population, the market is estimated to propel. The augmenting environmental concerns are offering improved and better microbial packing which is further adding to the growth factors. The huge availability of biologics and biopharmaceutical products which is further supported by the requirements for better compliance are influencing the market growth across the globe. The rising complexities in product engineering and the surging number of entrant manufacturers are estimated to augment the medical device outsourcing industry with increased growth opportunities.
On the contrary, the presence of stringent mandates associated with the packaging services coupled with the materials used for packaging imposed by several organizations is some of the top concerns likely to pose threats to the growth of the market during the assessment period.
Global Medical Device Packaging Market: Segmental Analysis
The global Medical Device Packaging Market has been segmented on the basis of product and material.
By mode of product, the global medical device packaging market has been segmented into trays, pouches, bags, clamshell packs, and others. Among these, the pouches and trays segments are likely to gain prominence during the appraisal period. They have a higher selling rate compared to others which propel its growth. Moreover, pouches are puncture resistant and remove the risk of infection dispersion and staff errors during the time of assembling. Such factors are likely to create opportunities for the segment’s growth.
By mode of material, the global medical device packaging market has been segmented into plastic, paper, paperboard, and others. Among these, the plastic packaging is likely to gain prominence in the coming years as it is light in weight and offers improved shelf life of the products. The high density and fine polyethylene material used in packaging pouches are further contributing to its growth.
The regions discussed in this report span across Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Considering the global scenario, the North American region is estimated to constitute the largest share. The regional market is well developed due to the high living standard of the consumers. In this region, the US acquired the largest market share.
The European market is gaining prominence across the globe and is led by regions namely, France, UK Germany, and Italy. The market is witnessing a sturdy growth owing to the strong security protection of therapeutic equipment which is further supported by government mandates.
The Asia Pacific region is led by Japan, India, and China and has good growth opportunities due to the expanding export and domestic markets for its medicinal goods. China is considered the key distributor and developer of technologically advanced therapeutic products due to surging external and internal investments. Moreover, the growing healthcare sector comprising hospital and dental services are stimulating the regional market’s growth.
May 08, 2019: A global provider of custom thermoformed packaging, Nelipak Healthcare Packaging has recently partnered with the Optel Group who is a global provider of traceability systems and vision inspection. The partnership aims to bring a brand-new seal inspection technology to the medical device market.
Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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