New York, USA, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Medical Device Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Medical Device Packaging Market Information By Material, Product, And Region - Forecast till 2027”, the market is estimated to grow at a 6.5% CAGR to reach USD 61.91 Billion by 2027.
Market Synopsis
A medical device needs to be protected by maintaining the integrity of the packing; typically, adequate packaging is vital for medical equipment to prevent physical damage, biological contamination, and other external disturbances. The appropriate identification of the gadget through labeling is another reason for packing. Additionally, the packaging of medical devices plays a crucial role in ensuring the safety and security of a product during its shelf life. Packaging is communication between humans, the environment, and one another. Products featuring diverse technologies, including peal/seal and counterfeit technology, have been made available by the producers. These are intended to provide comfort and protect center fire goods.
Holograms, UV identifying codes, 2-D barcodes with unique serial numbers, and hidden text written with magnetic or security ink can all be effective anti-counterfeiting measures. Products featuring diverse technologies, including peal/seal and counterfeit technology, have been made available by the producers. These are intended to provide comfort and protect center fire goods. Holograms, UV identifying codes, 2-D barcodes with unique serial numbers, and hidden text written with magnetic or security ink can all be effective anti-counterfeiting measures. The global medical device packaging market is expanding due to the growing demand for simple-to-use and simple-to-dispose packaging solutions. Solutions for packaging that preserve the integrity of the product and the container during the cycle are in great demand.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 61.91 Billion |
| CAGR | 6.5% (2022–2027) |
| Base Year | 2021 |
| Forecast Period | 2022–2027 |
| Historical Data | 2020 |
| Forecast Units | Value (Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Material, Product, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | As the need for healthcare products is increasing due to widespread infectious and chronic diseases |
| As the disposable income is increasing the people are ready to invest more in healthcare products. |
Market Competitive Landscape:
The important companies in the medical device packaging market are:
- Amcor Limited
- 3m Company
- Westrock Company
- Mitsubishi Chemical Holdings Corporation
- Oliver-Tolas
- Sonoco Products Company
- Berry Global Inc.
- Bemis Company Inc,
- Chesapeake Limited
- Du Pont De Nemours and Company
- Klöckner Pentaplast Group
- Tekni-Plex.
- Aphena Pharma Solutions.
- Clondalkin Group
- Sigma Medical Supplies Corp.
- Toppan Printing Co., Ltd.
Market U.S.P. Covered:
Market Drivers:
The introduction of several sophisticated medical devices that need specialized packaging, technological advancements in the medical device industry, and the rising demand for creative packaging solutions due to increased global supply and production of medical devices, medications, and drugs all contribute to the market's expansion. Additionally, the expansion of the medical device packaging market is aided by an increase in healthcare spending brought on by an increase in health awareness. Additionally, the demand for sterile packaged products, tamper-proof, nonreactive, have great performance and have a low total cost of ownership drives technological developments in the global medical device packaging market, opening up much room for market growth over the course of the forecast period.
The rising demand for medical devices including irradiation apparatuses, medical supplies, electro-medical equipment, surgical implants and instruments, in-vitro diagnostic equipment, reagents, and dentistry items, has driven the market for medical device packaging products. In recent times, especially in developed nations, unhealthy lifestyles have contributed to the increasing prevalence of chronic diseases like heart disease, cancers, diabetes, stroke, and arthritis. The medical device market has been expanding over the past few years due to the disorders mentioned above, which need numerous medical equipment for diagnosis and treatment.
Market Restraints:
Governments all over the world's tight laws and regulations, which impede the expansion of the global market.
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COVID 19 Analysis
The COVID-19 outbreak has hampered the global healthcare industry's workflows. A growing number of industries have been compelled to close their doors due to the sickness temporarily. Several healthcare sub-disciplines are among the sectors that are severely impacted. Additionally, the market for medical device packaging has experienced a moderate impact, as has the segment for medical devices and supplies. Because of the pandemic, healthcare personnel, resources, and facilities have consolidated in one area to assist in managing the increase of COVID-19 patients. With all specialties creating recommendations for how to handle this problem, numerous other surgical specialties have been severely hit, which has had a detrimental impact on the market for medical device packaging at the moment. Additionally, fewer hospital beds led to a rise in the demand for self-monitoring medical devices, which had a favorable impact on the medical device packaging market during the projected period. Respirators, ventilators, oximeters, and other medical devices that aid in managing diseases affecting the respiratory tract saw a rise in demand as a result of the pandemic.
Market Segmentation
By product, the market includes pouches, trays, bags, and clamshell packs. By material, the market includes plastic, and paper & paperboard.
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Regional Insights
Because of its healthy medical industry and abundance of organizations that provide healthcare services, North America accounted for the second-largest share. In terms of technology, software development, instrumentation, and significant investments in research and development, the United States enjoys a competitive advantage that enables it to produce medical devices in large quantities. The U.S. has become the largest market for medical device packaging as a result of the country's thriving medical industry and the abundance of organizations that serve the healthcare industry. The nation has a competitive advantage in technology, software development, and instrumentation, and it has made significant investments in research and development, leading to a high level of medical device production. The region with the quickest growth is anticipated to be Asia-Pacific. China is one of the world's largest markets for medical equipment and the country with the fastest economic growth in Asia-Pacific. The healthcare sector is receiving much investment due to China's economic growth. It is anticipated that China's healthcare sector will continue to grow in the upcoming years.
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