The 7 Best Things About Medical Device Packaging Market

Analysis of Covid-19 on Medical Device Packaging Market

Medical device manufacturers rely heavily on healthcare facilities for their clinical trial data collection and process. Most medical device products must undergo clinical trials both pre-and post-market before manufacturers can obtain certificates for market approval. As the COVID-19 pandemic continues to unfold, medical device and packaging companies are finding it difficult to make informed decisions about their products, supply chains, and regulatory obligations amid uncertaintySterilization is playing an increasingly vital role in preventing the transmission of this life-threatening disease. Several prominent companies are thus persistently manufacturing sterile medical packaging, such as containers, pouches, and wraps to protect products against unintended transmissions. In June 2020, Placon, a designer and manufacturer of unique injection molded and thermoformed plastic packaging products and headquartered in Wisconsin, declared it is planning to expand its thermoforming production capacity in Elkhart, Indiana. This is intended to meet the increasing demand for medical packaging. The expansion will include four technologically-advanced thermoforming presses. These would also deliver warehouse and cleanroom manufacturing space. In July 2020, Jones Healthcare Group, a manufacturer of medical packaging and containers based in London, invested in a new Uhlmann blister packaging line. This highly automated and fully integrated two-lane equipment would improve its production capacity to meet the high demand for unique blister combinations. Blister packaging includes a full aggregation and serialization solution for medicines and devices. 

Pricing Dynamics Amid Covid-19

In the wake of COVID 19, Import tariffs and export restrictions are adding to the supply crisis in this market. The USA, dealing in the PPE market at the early start of COVID, has declined the request to roll back Section 301 tariffs on a wider range of PPE imported from China. Amid COVID 19, more than 120 countries have adopted temporary measures to ease imports of products in response to COVID-19. These include reducing tariffs and taxes, suspending anti-dumping duties, increasing quotas, and relaxing regulatory or procedural requirements. For example, Argentina suspended anti-dumping duties on syringes from China. Ukraine eliminated customs duties and VAT on medicines and medical equipment, and Indonesia no longer required an import certificate for masks. The least developed countries have high tariffs on some COVID-19-related products, yet only 12 of them have cut tariffs on medical products. While 77% of developed countries have cut tariffs on medical products, only 53% of developing countries and only 27% of least developed countries (LDCs) have adopted such measures.\

Demand-Supply Spectrum

COVID-19 pandemic created a surge in demand hence increasing the ask from supply to meet the increased advanced & sterilized packaging for all medical devices. The impact of COVID 19 on the PPE has exposed enterprises' unpreparedness to cater to an unprecedented demand surge. In response to WHO’s sanitation guidelines and the requirement from healthcare professionals attending the infected patients, a range of PPE such as sanitizers, medical masks, gloves, and ventilators are hitting the bottom of their repositories beginning of the pandemic. This visible instance of supply chain disruption in the PPE market was getting worse with government policies' rigidity about the import and exports of essential medical components in the early days. Levying of import tariffs and export restrictions are adding to the supply crisis in this market in the wake of the impact of COVID 19. At the start of COVID was heavily reliant on the exported medical components from China, one of the top exporters of PPE globally. This resulted in the procurement price hike for enterprises in the market that will induce them to cut short their imports. Medical gears, Kits, injection packaging, heavy & fragile Medtech machine packaging, and other packaging services are available in every geography at multiple price points & consistent with commodity economics. The issues persist in the cost of dual sourcing across geographies with very different price points and tooling costs. 

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