The medical device packaging market is projected to grow at a compounded annual growth rate of 5.39% to reach US$31.153 billion by 2025, from US$23.460 billion in 2019. Medical device packaging is an indispensable part of the healthcare industry. They are used to shield the product before its usage. The package of medical devices not only has to be free from leaks or holes but also has to be sterilized to maintain the integrity and the shelf life of the device. The package should meet the standard requirements set by authorities, be easy-to-handle and 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 the medical institutions and the 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 industries are rising as the industry is deemed as a lucrative sector due to the increasing number of diseases and the aging population. This is expected to boom 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 material and design of the package to support those 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 with a rising number of diseases is expected to boost the demand for the medical devices' packaging market. The increase in healthcare expenditure by the 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 with respect to the government’s stringent guidelines for maintaining packaging standards. Packaging materials have to pass extensive testing protocols before being launched in 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 through shocks, temperature fluctuations, or vibrations. Besides, in the 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 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 would also witness a growth in demand.
o Wrap Films
o Glass Packaging
o Paper & Paperboards
o Plastic Resins
o Sterile Packaging
o Non-sterile Packaging
o North America
o South America
o The Middle East and Africa
o Asia Pacific
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