Douglas, Isle Of Man, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Adding Medical Device Packaging Market research reports by Douglas Insights to its analysis platform enables analysts, market researchers, industry professionals, and entrepreneurs to evaluate market trends, growth drivers, constraints, challenges, and projections of today’s trending markets. Douglas Insights is the world’s first comparison engine with market research reports. Researchers may compare different reports by their table of contents, publisher rating, date of publication, and price using the digital tool, which has access to the broadest selection of public and private market reports.
Due to increased consumption of medical devices and rising healthcare costs in major economies, the international market for medical device packaging has shown spectacular expansion in recent years. The market report predicts that from 2021 to 2031, demand will grow at a CAGR of 7.4%, mostly due to significant expenditures on developing cutting-edge technologies.
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There is a considerable need for packaging options that preserve the quality of the product and the container. Medical device packaging protects medical equipment from stress, rupturing, movement, ripping, exploding, cracking, and changes in air humidity. It is projected that this necessity for protection would be a major factor in the expansion of the worldwide medical device packaging market.
Within the next ten years, the medical device packaging industry is expected to be dominated by Europe. The United Kingdom is one of the biggest suppliers of medical gadgets, which is thought to be the cause of this growth. Additionally, this market isn’t going anywhere soon. It is constantly subjected to developments. The second place spot goes to North America. China, Japan, and India are the three dominant nations in the Asia-Pacific region.
Medical device packaging is becoming increasingly necessary, especially in developed countries like North America, Europe, and Asia. Factors influencing medical device packaging revenues include the development of anti-counterfeit containers and the shift in the industry from glassware to plastic containers.
The disposable products category is anticipated to dominate in volume and value. Additionally, the area of implanted devices is still developing, and safe packing is essential. Although the pandemic severely harmed cosmetic implants, the current scenario is anticipated to spur the industry toward development as the world is recovering from the impact of the pandemic.
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The worldwide medical device packaging market is divided into three segments based on end-user: medical supplies, contractual packaging, and others. Based on CAGR, contract packaging is anticipated to become the fastest-growing market.
Packaging demand worldwide includes pouches, zip-lock bags, trays, containers, clamshell blister packs, flow wraps, and boxes. Among the packaging types, bags and pouches make up a sizable portion of the global marketplace for the packaging of medical devices.
The subcategories of trays include plastic medical trays, medical shipping trays, or medical inspection trays. Vinyl serves several purposes because of its high mechanical strength; however, alternative forms of polymers are also used.
Based on material type, the worldwide medical device packaging market is divided into Polyethylene, Polypropylene, Polystyrene, Polyvinyl chloride, Polyethylene terephthalate, Glass, Aluminium, Fabric, and Paper Laminates, fabric. Polyethylene is further divided into High-density polyethylene, Low - density polyethylene, and Linear Low-Density Polyethylene.
Paper laminates are the second most favoured material after PE. Aluminium, mostly used as a foil, is the material of choice when protecting against air, humidity, and sunlight.
However, it is a well-known truth that plastics look better overall. Plastics have better visibility in all forms, from transparent to opaque. They are also super strong, adjustable, sterile, and secure. Other benefits of plastics are their affordability and lightweight.
In 2020, industries of all sizes and sectors were affected by COVID-19. For medical packing, the situation was quite the contrary. Growing infection rates and sales of medication used to treat multiple respiratory disorders indicated a rise in medical package purchases. An increase in overall drug sales was also a major factor, as lockdown conditions imposed by many nations worldwide led to unnecessary purchases.
In 2020, the overall impact of the pandemic on medical packaging demand was a 5.4% increase year on year.
The main market participants are Becton, Dickinson and Company, Ardagh Group S.A., 3M Company, Berry Global Group, Inc., Amcor Plc, Sealed Air Corporation, UDG Healthcare plc, West Pharmaceutical Services Inc., Constantia Flexibles Group GmbH, Gerresheimer AG, and Nipro Corporation.
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Countries Covered in the report are as below:
- North America - United States, Canada, and Mexico
- Europe - United Kingdom, Germany, France, Italy, Russia, Spain & Rest of Europe
- Asia-Pacific - China, India, Japan, South Korea, Australia & Rest of APAC
- Latin America - Brazil, Argentina, Peru, Chile & Rest of Latin America
- Middle East and Africa - Saudi Arabia, UAE, Israel, South Africa
Key questions answered in this report
- COVID 19 impact analysis on global Medical Device Packaging industry.
- What are the current market trends and dynamics in the Medical Device Packaging market and valuable opportunities for emerging players?
- What is driving Medical Device Packaging market?
- What are the key challenges to market growth?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the Medical Device Packaging market?
- Key growth pockets on the basis of regions, types, applications, and end-users
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
- Statistics on Medical Device Packaging and spending worldwide
- Recent trends across different regions in terms of adoption of Medical Device Packaging across industries
- Notable developments going on in the industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)
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