Medical Devices Packaging Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Trays, Pouches, Clamshells, Bags, Boxes, Wrap Films, Others), By Packaging Material (Glass, Paper & Paperboards, Plastic, Foils), By Application (Sterile Packaging, Non-sterile Packaging), And By Geography - Forecasts From 2022 To 2027
- Published : Nov 2022
- Report Code : KSI061610049
- Pages : 138
The medical device packaging market is projected to grow at a compounded annual growth rate of 5.82% to reach US$38.499 billion by 2027, from US$25.912 billion in 2020.
Medical device packaging is an indispensable part of the healthcare industry. They are used to shield the product before its usage.
The packaging of medical devices not only has to be free from leaks or holes but also has to be sterilized to maintain the integrity and shelf life of the device. The package should meet the standard requirements set by authorities, be easy to handle and be transportable to avoid microbial contamination. Improper packaging can risk the life of the patient and can cause a host of issues to crop up for medical institutions and packaging companies. Transportation of medical equipment from developed to developing or under-developed countries also requires a robust packaging system to ensure the product’s safety and sanity.
Private and public investments in the healthcare industry are rising as the industry is deemed a lucrative sector due to the increasing number of diseases and the aging population. This is expected to boost the medical device packaging market owing to the growing demand for medical devices. The continuous evolution of medical equipment, through research and development, requires parallel development in the materials and design of the package to support that complex equipment. Innovations such as child-resistant packaging are one such example.
The growing demand for hospital care at the global level is escalating the market in the forecast period. Rising health awareness and a rising number of diseases are expected to boost the demand for the medical devices' packaging market. The increase in healthcare expenditure by governments to achieve universal health targets fuels the demand for medical device packaging. There is also a trend of flexible and transparent packaging of medical devices, which is driving the growth of this market.
The industry also faces certain challenges concerning the government’s stringent guidelines for maintaining packaging standards. Packaging materials have to pass extensive testing protocols before being launched on the market. Patient safety has to remain the focus of the medical device packaging industry. Material innovations have to be carried out to enable the product to sustain shocks, temperature fluctuations, or vibrations. Besides, in light of environmental concerns, this market has to develop easy-to-dispose packaging solutions to remain sustainable.
The European region is expected to show a substantial growth rate in the forecast period owing to the increasing aging population and rising health issues.
Europe's Medical Device Packaging Market is expected to have a significant market share due to the presence of a large number of pharmaceutical industries. As the quality of healthcare services is improving with technological and innovative solutions, it is anticipated that the medical device packaging industry will also witness a growth in demand.
- In February 2022, Comar, a supplier of custom medical devices and specialty packaging solutions acquired Automatic Plastic Ltd, a custom-based molding company bases in Ireland. The combined operations of Comar and Automatic plastic Ltd. enhance Comar’s medical device and pharma packaging manufacturing expertise.
- Sonoco, a global packaging company completed the acquisition of Thermoform Engineered Quality (TEQ), LLC. in January 2020. TEQ is a global manufacturer of thermoformed packaging serving healthcare, medical device, and consumer markets. TEQ's inclusion has given Sonoco access to a range of goods and services that will enable it to supply a far wider range of medical devices and healthcare businesses.
COVID-19 Impact on Medical Devices Packaging Market
The COVID-19 pandemic had a significant impact on the global medical device packaging market. The shutdowns of many industries at the initial stage of the pandemic affected the overall medical device packaging market’s growth during the pandemic. But, consequently, the rising need for medical devices to aid the rising number of patients amid the pandemic fueled the growth of the medical device packaging market. Consequently, the COVID-testing kits demand also surged with the rising COVID cases all over the world which further propelled the global medical device packaging market during the pandemic.
Medical Devices Packaging Market Scope:
|Market Size Value in 2020||US$25.912 billion|
|Market Size Value in 2027||US$38.499 billion|
|Growth Rate||CAGR of 5.82% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Type, Packaging Material, Application, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Amcor PLC., DuPont De Nemours, Inc., Berry Global Inc., ProAmpac, Mitsubishi Chemical Holdings Corporation, Wihuri Group, Eagle Flexible Packaging, Comar, Sonoco|
|Customization Scope||Free report customization with purchase|
- By Type
- Wrap Films
- By Packaging Material
- Paper & Paperboards
- By Application
- Sterile Packaging
- Non-sterile Packaging
- By Geography
- North America
- South America
- The Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Introduction
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Medical Device Packaging Market Analysis, by Type
5.7. Wrap Films
6. Medical Device Packaging Market Analysis, by Packaging Material
6.3. Paper & Paperboards
7. Medical Device Packaging Market Analysis, by Application
7.2. Sterile Packaging
7.3. Non-sterile Packaging
8. Medical Device Packaging Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.2. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Amcor PLC.
10.2. DuPont De Nemours, Inc.
10.3. Berry Global Inc.
10.5. Mitsubishi Chemical Holdings Corporation
10.6. Wihuri Group
10.7. Eagle Flexible Packaging
DuPont De Nemours, Inc.
Berry Global Inc.
Mitsubishi Chemical Holdings Corporation
Eagle Flexible Packaging
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