Medical Device Packaging Market towards a USD 47.11 Billion by 2030 | CAGR of 7.5%
Medical Device Packaging Market Overview
According to the report published by Allied Market Research, the global Medical Device Packaging Market generated $22.09 billion in 2020, and is projected to reach $47.11 billion by 2030, registering a CAGR of 7.5% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Important Revelations:
- North America central hub for the medical device packaging industry.
- Essential role of plastic in packaging for medical devices.
- Medical device packaging pouches: ensuring precise device protection.
- Global momentum in sterile medical device packaging.
- Direct distribution channel for medical device packaging solutions.
- Critical role of packaging in monitoring and diagnostic equipment.
- Importance of labels in the medical device sector.
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Drivers:
Rapid advancements in the technology involved in medical devices, coupled with introduction of new and innovation medical devices require specialized and smart packing solutions, which also drives the market growth. Moreover, increase in number of patients with acute and chronic ailments have a direct and positive impact on the demand for medical devices packaging, rise in environmental concerns, coupled with increased expenditure on healthcare infrastructure has led to production and innovation of eco-friendly packing solutions. However, strict rules & regulations imposed by the government across the world may hamper growth of the global medical device packaging market. Conversely, increase in need for sterile packaged, tamper-proof, and nonreactive products with great performance & reducing total cost of ownership are few factors that create lucrative opportunities for the medical device packaging market in the future.
Medical Device Packaging Market Statistics:
- Plastic material segment would continue to maintain the lead over the forecast period.
- Unisex segment is projected as one of the most lucrative segment.
- The pouches segment is expected to remain dominant throughout the forecast period.
- LAMEA region would exhibit the highest CAGR of 9.6% during 2021-2030.
The growth of the medical device packaging market can be influenced by various factors, including:
- Regulatory Compliance: Stringent regulations regarding packaging and labeling of medical devices play a significant role in shaping the market. Compliance with regulations such as FDA guidelines in the United States and CE marking in Europe affects packaging design, material selection, and testing requirements.
- Technological Advancements: Innovations in packaging materials and technologies can drive market growth by offering enhanced protection, durability, and functionality. For example, advancements in sterile barrier packaging technologies help to maintain product sterility and prolong shelf life.
- Rising Healthcare Expenditure: Increased healthcare spending globally, especially in emerging economies, drives demand for medical devices and associated packaging. As healthcare infrastructure improves and access to medical services expands, the demand for packaged medical devices grows proportionally.
- Growing Aging Population: The aging population worldwide leads to a higher incidence of chronic diseases and the need for medical interventions, thereby increasing demand for medical devices and their packaging. Elderly patients often require specialized packaging solutions for ease of use and safety.
- Demand for Disposable Devices: The trend towards disposable medical devices, driven by concerns over infection control and cost-effectiveness, fuels demand for packaging tailored to single-use products. This includes packaging that ensures sterility until the point of use and facilitates safe disposal.
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Key Market Segments:
By Material Type
- Plastic
- Paper & Paperboard
- Foils
- Glass
- Others
By Product Type
- Pouches
- Clamshell Packs
- Boxes
- Bags
- Blisters
- Others
By Application
- Sterile Packaging
- Non-Sterile Packaging
By Region
- North America (U.S., Canada, Mexico)
- Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Leading Market Players: –
- Amcor Limited
- Constantia Flexibles
- Berry Global Inc.
- 3M Company
- CCL industries INC.
- Klöckner Pentaplast Group
- Mitsubishi Chemical Holdings Corporation
- DuPont
- WestRock Company
- Sonoco Products Company.
Regional Analysis:
North America is projected to account for a major share of the global medical device packaging market during the forecast period. The market in the region is anticipated to grow in the future, owing to developed countries, with prosperous economies, aging population segments, and advanced medical delivery systems. Further, countries vary large population size, increase in healthcare spending intensities, aggregate gross domestic product (GDP) levels, and structure of health insurance plans boost the market growth. In addition, with advanced primary medical community, extensive medical and life science research activities, high healthcare spending intensity, and large pharmaceutical and medical supply and device industries also propel the market in upcoming years.
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- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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