Pune, India, Sept. 22, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that global medical device packaging market is slated to showcase a steady growth rate of 6.2% through the analysis timeframe and reach a substantial valuation of USD 43,333 million by 2028.
The research document sheds light on major growth drivers and opportunities that will maximize revenue over the forecast period. It also lays emphasis on certain challenges that may hamper the market progression during the study period while divulging precise solutions to mitigate their impact.
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Proceeding further, the document provides a detailed overview of various segmentations within the industry by individually determining current trends and growth prospects of each sub-segment, followed by a thorough investigation of the competitive dynamics. This will enable the stakeholders to make informed investment decisions.
The aforementioned growth prospects of the industry can be attributed to the dual nature of the packaging that ensures sterility and longevity of the device when transferred to a remote hospital or healthcare center.
Technological advancements in the healthcare industry, increased expenditure on medical infrastructure, penetration of advanced devices that require specialized packaging, and growing demand for innovative packaging solutions owing to a proliferation in the production and supply of a variety of drugs, medical devices, and medicines across the globe are likely to propel product uptake in the forthcoming years.
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However, the prevalence of a stringent regulatory framework may hinder market progression over the forecast period.
Covid-19 impact analysis: -
The outbreak of the Covid-19 pandemic in early 2020 has caused significant disruptions in the medical industry workflow.
Several sub-sections of the healthcare sector, including workers, equipment, and other such facilities converged together to cope with the rising number of patients in the wake of the pandemic.
Consequentially, growing demand for respirators, oximeters, ventilators and other medical devices positively impacted the growth trajectory of the worldwide medical device packaging market.
Segmental overview: -
Based on product, the industry is segregated into clamshell packs, trays, pouches & bags, boxes, and others. The pouches & bags segment captured the largest share in the market in 2021, attributable to surge in the usage of pouches and bags as packaging for small to medium sized soft to semi-soft medical goods in unit quantities to prevent damage.
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Regional outlook: -
Geographically, North America medical device packaging marketplace is expected to accumulate massive revenues during 2022-2028, creditable to a robust healthcare infrastructure, surging R&D activities, increase in medical spending capacity, strong health insurance plans, and growing GDP levels in the region.
Competitive hierarchy: -
WestRock Company, Glenroy Inc., Techni-Pak LLC, Riverside Medical Packaging Company Ltd., Klockner Pentaplast Group, Sonoco Products Company, Berry Global Inc., Amcor plc, Constantia Flexibles, Oliver Healthcare Packaging LLC, SteriPack Ltd., and CCL Industries Inc. are the major companies influencing the market dynamics.
Global Medical Device Packaging Market by Products (Value, USD Million, 2018-2028)
- Clamshell Packs
- Boxes
- Trays
- Pouches & Bags
- Others
Global Medical Device Packaging Market by Material (Value, USD Million, 2018-2028)
- Metals
- Paper & Paperboard
- Plastics
- Others
Global Medical Device Packaging Market by Application (Value, USD Million, 2018-2028)
- Devices
- Equipment & Tools
- In Vitro Diagnostics (IVDs)
- Others
Global Medical Device Packaging Market by Region (Value, USD Million, 2018-2028)
- North America
- Europe
- Asia Pacific
- Rest of the World (ROW)
Global Medical Device Packaging Market, Company Profiles (Value, USD Million, 2018-2028)
- WestRock Company
- Glenroy Inc.
- Techni-Pak LLC
- Riverside Medical Packaging Company Ltd.
- Klockner Pentaplast Group
- Sonoco Products Company
- Berry Global Inc.
- Amcor plc
- Constantia Flexibles
- Oliver Healthcare Packaging LLC
- SteriPack Ltd.
- CCL Industries Inc.
TABLE OF CONTENTS
FIGURES AND TABLES
PART 1. INTRODUCTION
- Report description
- Objectives of the study
- Market segment
- Years considered for the report
- Currency
- Key target audience
PART 2. METHODOLOGY
PART 3. EXECUTIVE SUMMARY
PART 4. MARKET OVERVIEW
- Introduction
- Drivers
- Restraints
- Impact of COVID-19 pandemic
PART 5. MARKET BREAKDOWN BY PRODUCTS
- Pouches & bags
- Trays
- Boxes
- Clamshell packs
- Others
PART 6. MARKET BREAKDOWN BY MATERIAL
- Plastics
- Paper & paperboard
- Metals
- Others
PART 7. MARKET BREAKDOWN BY APPLICATION
- Equipment & tools
- Devices
- In vitro diagnostics (IVDs)
- Others
PART 8. MARKET BREAKDOWN BY REGION
PART 9. KEY COMPANIES
Related Report:
Global Medical Device Testing Market Size study and Regional Forecasts 2020-2027
Global Medical Device Testing Market to reach USD 12.4 billion by 2027. Global Medical Device Testing Market is valued approximately at USD 8.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.8 % over the forecast period 2020-2027. Medical devices are subject to stringent regulatory requirements, because it is important to ensure the effectiveness and health of medical equipment. It is also compulsory for each product to conform with national and international requirements before entering the market. In order to provide customers with consistency and secure service, a rigorous check is carried out before the products are put on the market.
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