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The medical device packaging market will reach USD 47.11 billion by 2030 | CAGR 7.5%

Overview of the medical device packaging market

According to a report published by Allied Market Research, the global medical device packaging market generated USD 22.09 billion in 2020 and is projected to reach USD 47.11 billion by 2030, registering a CAGR of 7.5% during 2021-2030. The report provides an in-depth analysis of the market size, emerging and current trends, future estimates, and key players.

Important revelations:

  • Central hub for the medical packaging industry in North America.
  • The important role of plastics in the packaging of medical devices.
  • Bags for packaging medical devices: ensuring precise protection of devices.
  • Global momentum in sterile medical device packaging.
  • Direct distribution channel for medical device packaging solutions.
  • The key role of packaging in monitoring and diagnostic equipment.
  • The importance of labels in the medical device industry.

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Drivers:

Rapid advancements in medical device technology, coupled with the introduction of new and innovative medical devices, require specialized and intelligent packaging solutions, which is also driving market growth. Moreover, the increase in the number of patients with acute and chronic ailments has a direct and positive impact on the demand for medical device packaging, the increase in environmental concerns coupled with increased spending on healthcare infrastructure has led to the production and innovation of eco-friendly packaging solutions. However, strict rules and regulations imposed by governments around the world may hamper the growth of the global medical device packaging market. Conversely, increasing demand for sterile packaged, tamper-resistant and non-reactive products with excellent performance and reducing total cost of ownership are just a few factors that will create lucrative opportunities for the medical device packaging market in the future.

Statistics on the medical device packaging market:

  • The plastics segment will maintain its leading position during the forecast period.
  • The unisex segment is considered one of the most profitable.
  • The handbag segment is expected to remain dominant throughout the forecast period.
  • The LAMEA region would show the highest CAGR of 9.6% during 2021-2030.

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Factors influencing the development of the medical device packaging market:

Many factors may influence the development of the medical device packaging market, including:

  • Regulatory compliance: Strict regulations on 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 influences packaging design, material selection, and testing requirements.
  • Technological progress: Innovations in packaging materials and technologies can drive market growth by offering better protection, durability and functionality. For example, advances in sterile barrier packaging technologies help maintain product sterility and extend shelf life.
  • Rising health care expenses: Increased healthcare spending around the world, particularly in emerging economies, is driving demand for medical devices and related packaging. As health care infrastructure improves and access to medical services expands, the demand for packaged medical devices increases proportionally.
  • Increasing aging of the population: An aging population worldwide is resulting in a higher incidence of chronic diseases and the need for medical interventions, thereby increasing the demand for medical devices and their packaging. Elderly patients often require specialized packaging solutions that ensure ease of use and safety.
  • Demand for disposable devices: The trend towards single-use medical devices, driven by concerns about infection control and cost-effectiveness, is driving demand for packaging tailored to single-use products. This includes packaging that ensures sterility until use and facilitates safe disposal.

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Key market segments:

By material type

  • Plastic
  • Paper and cardboard
  • Foils
  • Glass
  • Others

By product type

  • Pouches
  • Clamshell Packs
  • Boxes
  • Bags
  • Blisters
  • Others

By application

  • Sterile packaging
  • Non-sterile packaging

Through the region

  • North America (USA, Canada, Mexico)
  • Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia and the Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, rest of Asia Pacific)
  • LAMEA (Brazil, South Africa, Saudi Arabia, United Arab Emirates, Argentina, rest of LAMEA)

Leading market players: –

  • Amkor limited liability company
  • Konstancja Elastic
  • Berry Global Inc.
  • 3M company
  • CCL INC.
  • Klöckner Pentaplast Group
  • Mitsubishi Chemical Holdings Corporation
  • DuPont
  • WestRock Company
  • Sonoco Products Company.

Regional analysis:

North America is expected to account for the largest share of the global medical device packaging market during the forecast period. The market in the region is expected to grow in the future, driven by developed countries with prosperous economies, aging segments of society and advanced medical delivery systems. Moreover, countries differ in population size, increase in healthcare spending intensity, level of aggregate gross domestic product (GDP) and structure of health insurance plans, which favors market growth. Moreover, advanced primary care physician community, extensive medical and life sciences research activities, high healthcare spending intensity and large pharmaceutical and medical supplies and devices industry will also drive the market in the coming years.

CUSTOMIZATION OPTIONS: :

  • Assessing the distributor landscape
  • Pricing intelligence
  • Customer base assessment
  • Analysis of investments and initiatives
  • “Business profile” of key players

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Information about allied market research:

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small enterprises with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused purpose: to provide business insight and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industries, including life sciences, consumer goods, materials and chemicals, construction and manufacturing, food and beverage, power and energy, semiconductors and electronics, automotive and transportation, ICT and media, aerospace and defense, and BFSI.

We are in professional corporate relationships with various companies which helps us in extracting market data that helps us generate accurate research data tables and confirms the utmost accuracy of our market forecasts. Allied Market Research CEO Pawan Kumar plays a key role in inspiring and encouraging everyone associated with the company to maintain high quality data and help customers achieve success in every way possible. Each data presented in the reports we publish is obtained based on interviews with top officials from leading companies in a given domain. Our secondary data methodology includes deep online and offline research and discussions with experienced industry professionals and analysts.

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