Medical Device Packaging Market worth USD 43.3 billion by 2027
The Market Statsville Group (MSG) publishes the new report on the “Medical Device Packaging Market by Packaging Type (Trays, Pouches, Bags, Clam Shells, and Other Packaging Types), by Application (Sterile Packaging and Non–sterile Packaging), by Material (Paper, Plastic, Paperboard, and Other Material Types), by Region – Global Share and Forecast to 2027“. The global medical device packaging market size is expected to grow from USD 30.2 billion in 2020 to USD 43.3 billion by 2027, at a CAGR of 6.2% during the forecast period. Proper packaging of medical devices is very important to maintain the quality of the products. Some medical devices such as surgical robots, CT scanners, X-ray machines, ultrasound devices, and cardiovascular equipment are sensitive and require appropriate packaging for proper distribution. Also, some medical devices that need to be packed under sterile conditions are very sensitive to environmental contamination. Improper packaging or packaging defects can significantly affect the shelf life of such devices; If the integrity of the package and sterility of the medical device is violated, the device is useless. Hence many medical device manufacturers are now focusing on effective packaging solutions. Furthermore, many medical equipments are expensive, and damage to one of the devices’ components during shipping can be costly; this is why medical device makers spend a lot of money on effective packing materials to prevent physical damage. Over the projected period, these factors are likely to propel the medical device packaging market forward.
Global Medical Device Packaging Market Segmentation
The medical device packaging market has been segmented into packaging type, application, material, and region.
- By Packaging Type (Trays, Pouches, Bags, Clam Shells, and Other Packaging Types)
- By Application (Sterile Packaging and Non-sterile Packaging)
- By Material (Paper, Plastic, Paperboard, and Other Material Types)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Plastic, by material, is estimated to hold the largest market share during the forecast period
Based on material, the global medical device packaging market is segmented into paper, plastic, paperboard, and other material types. Plastic held the largest share of 35% in 2020 due to its wide use in medical device packaging owing to its favorable properties. Plastic materials are used in medical device packaging for manufacturing pouches, bags, blisters, and boxes. LLDPE, PP, PET, HIPS, and vinyl are the most common plastics used in the medical device packaging industry. As a film, plastics are used in flexible structures, whether all plastic or combined with other materials. As a sheet, plastics are used in semi-rigid and rigid structures, whether as monolayers or coextrusions.
Plastics offer variety in aesthetics; for example, appearances range from clear to opaque. Plastics also offer variety in function, for example, differing in machinability and the barrier. These plastics are durable and lightweight. They are used in medical devices’ packaging due to their moisture-resistant properties. In addition, plastics are compatible with sterilization methods that don’t require porosity. Moreover, plastic packaging creates fewer greenhouse gases than alternative packaging. The growing investments by top medical device manufacturers for sustainable development are also bringing novel sustainable plastic packaging materials into the market.
North America accounts for the largest market share in the medical device packaging market 2020
Based on the regions, the global medical device packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The North America region dominates the global medical device packaging market due to a large number of medical device companies. In 2020, North America had a market share of 36.6%. The United States and Canada have developed nations with flourishing economies, aging population segments, and advanced medical delivery systems. Still, the countries differ measurably in population size, healthcare spending intensities, aggregate gross domestic product levels, and the structure of health insurance plans.
Further, with advanced primary medical community, extensive medical and life science research undertakings, high healthcare spending intensity, and large pharmaceutical and medical supply and device industries, the U.S accounts for one of the world’s largest geographical markets for medical device packaging products. Additionally, projected strong growth in the Canadian diagnostic product industry is expected to broaden applications for parenteral vials and specialty multiple-well trays, thus driving the country’s market. Furthermore, increasing collaborations to achieve innovative packaging technology also boosts the market. In addition to this, the government is backing the promotion of medical, pharmaceutical, and biotechnological researches, which is estimated to work in favor of the market.
This research report covers an examination of the major firms’ development and marketing tactics and an examination of their product portfolios and winning methods in the medical device packaging industry. Berry Global Inc., CCL industries INC., Constantia Flexibles, 3M Company, Amcor Limited, DuPont, Klöckner Pentaplast Group, WestRock Company, Sonoco Products Company, and Mitsubishi Chemical Holdings Corporation are among the top firms in the industry. These market competitors have concentrated on acquisitions and growth to achieve a bigger market position in the medical device packaging industry.
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