Medical Device Packaging Market

SKU: DMMD2838 | Last Updated On: Sep 07 2022 | Available Formats

Medical Device Packaging Market Expected to reach a high CAGR of 6.60% during the forecast period 2022-2029:

Medical Device Packaging Market Size, Growth Rate Analysis:

Medical Device Packaging Market size was valued at USD 32,077.70 million in 2021 and is estimated to reach at a compound annual growth rate (CAGR) of 6.60% over the forecast period 2022 to 2029. Medical device packaging is an important part of the delivery of the device to market safely and securely. The packaging of the medical device helps to avoid device failure costs and reduces the time-delivery time of the complex equipment for device manufacturers. Medical device manufacturers require innovative design solutions which offer the most efficient, safe, and protective packaging. Providing the packaging supplier with the final device saves time, money, and the hassle of potentially entire packaging projects.

The medical device packing is done with known and traceable materials. It should be non-toxic, non-leaching, odorless, free of holes, cracks, tears, creases, and localized, and intended for use in medical applications. Medical device packaging provides physical protection and allows sterilization aseptic presentation. As per DataM Intelligence, the research report provides detailed insights on the global medical device packaging market size, trends, share, growth, demand, and competitive analysis in the major regions such as North America (United States, Canada), European Countries (Germany, Italy, UK, Spain, France, Russia), Latin America (Mexico, Argentina), Asia Pacific (China, India, Japan, South Korea), Middle East and Africa (Saudi Arabia, UAE, Qatar, and South Africa).

Medical Device Packaging Market Growth Dynamics

Medical Device Packaging is driven by rising demand for medical devices demand such as ventilators etc. due to the surge in prevalence of Covid-19. Further increasing healthcare spending due to growing health awareness and a surge in incidences of chronic conditions drives the market for medical device packaging.

Rising demand for the medical device due to the rising prevalence of the Covid-19 infection with increasing healthcare spending

The market is driven by rising demand for medical devices due to the rising prevalence of the Covid-19 pandemic with the surge in healthcare spending. As per the Worldometer on 15th November 2020, an estimated around 56.01 million cases and an increase of 1.15 million deaths due to the Covid-19 infectious. It created a massive demand for medical devices such as ventilators, accessories, and other respiratory devices for the necessary treatment of the infected cases.

Rising demand for medical devices due to the surge in prevalence of chronic diseases has propelled the demand for the medical device packaging market

An increase in the adoption of medical device packaging is due to a surge in the prevalence of chronic conditions such as diabetes, cancer, etc. As per the World Health Organization, globally around 18.1 million cancer cases were diagnosed and 9.6 million death occurred in 2018. Thus the rising prevalence of cancer diseases has propelled the demand for advanced medical devices throughout the world which propelled the medical devices packaging market.

Strengthening rules and regulations for the global medical device packaging and change in the raw material prices

The medical device packaging should follow strict rules and regulations as per the standard provided by the FDA to avoid contamination by other environmental particles. Packaging plays a vital role to keep equipment and medical devices safe and secure. Further fluctuations in the raw material prices hamper the growth of this market

Growing demand for recyclable, compostable, and sustainable packaging solutions

Medical device packaging is vital due to the high cost of the medical devices hence it is necessary to have sustainable packaging for the equipment produced. Several leading players are making innovative flexible packing for medical devices to avoid damage and provide equipment safely to hospitals. For instance, on 13th Feb 2020, Avery Dennison launched the rPET recycled content liner with reinforced the company’s sustainability to offer converters the first rPET liner in North America. Further on 10th July 2017, Avery Dennison launchedStickpak a portfolio expanded into flexible packaging.

The global medical device packaging market has shown immense growth due to the Covid-19 pandemic, as several leading manufacturing companies needed the unprecedented demand for medical devices during the covid-19. Several leading manufacturers have started to produce essential medical devices to fulfill the global demand required to cure Covid-19 patients.

For instance, on 13th April 2020, Ford, 3M, and other suppliers started the production of medical equipment to fulfill the unprecedented global demand for the devices. It created a massive demand for packaging during the covid-19 pandemic. Further demand will remain constant as several countries' recovery rates from the covid-19 infection have increased.

Medical Device Packaging Market Segment Analysis

The global Medical Device Packaging market is segmented based on product, material, packaging type, application, and region.

Rising demand for boxes for medical device packaging for the devices such as ventilators, respirators, etc due to the Covid-19 pandemic around the globe

In terms of product, the global medical device packaging market is bifurcated into trays, boxes, bags, clamshell packs, films, and lamination (single films, laminations, coextruded films, others), and others. Among these, the boxes segment has the highest market share for the global market, this is primarily because it prevents from damaging and can be used for long-distance transportation without any damage or failure. As the demand for medical devices has increased due to the Covid-19 pandemic, box demand for packaging also increased.

Several leading players have increased their production capacity and shifted from automobile production to medical device manufacturing during the Covid-19 pandemic.

For instance, on 24th March 2020, Ford in collaboration with healthcare companies 3M, GE, and UAW increased the production of respirators and ventilators for healthcare workers and coronavirus patients. It created a massive demand for the box packaging required during the Covid-19 pandemic.

Similarly, trays, bags, clamshell packs, and films and laminate segments are also growing at a faster pace owing to an increase in the demand for medical devices around the globe due to the rising prevalence of infectious and chronic diseases.

Depending upon the material, the global medical devices packaging market is divided into polymer, Non-woven Fabric, Paper & Paperboard, and others. This polymer segment has the highest market share in 2019, this is primarily due to the rising demand for wrapping of medical devices with the surge in global spending on healthcare.

Further, the polymer segment is divided into Polyethylene, Polypropylene, Polystyrene, Polyurethane, and others. Among these, the Polyethylene segment has the highest market share in 2019, this is primarily due to increasing plastic production around the globe. For instance, as per the Europe Plastic Organization, global plastic production in 2018 stood at around US$ 426 million. It is widely used in packaging medical devices in manufacturing facilities.

Rising utilization of the paper and paperboard for the medical device packaging by the manufacturers has propelled the segmental growth

Similarly, non-woven fabric, paper & paperboard segments are also growing at a faster pace owing to strict rules and regulations regarding plastic usage due to which several leading players have increased the production capacity of paperboard and paper.

Primary packaging is expected to dominate the global medical device packaging market during the forecast period.

Based on packaging type, the global medical device packaging is divided into primary, Secondary, and Tertiary packaging. Among these, primary packaging has the highest market share in 2019, this is due to increasing adoption by the manufacturers to avoid the damage and contamination of the devices.

Depending upon the class, the global market is divided into Class I, Class II, and Class III. Among this class II segment has the highest market share owing to a surge in usage for critical medical device packaging applications.

The medical devices segment has the highest market share owing to rising sales and production of the devices due to a surge in the prevalence of the chronic ailments

Based on the applications, medical device packaging is divided into Orthopedic & Spine Cardiovascular, Radiology, General Medical Devices, and others. Among these, the general medical devices segment has the highest market share owing to the rising production and sale of the devices with the surge in the prevalence of chronic ailments all over the world. As per the European Medical Technology Industry Association in 2017, the global medical devices production and sale was valued at around US$ 500 billion with the highest market share in North America followed by Europe.

Medical Device Packaging Market Scope

Metrics

Details

Market CAGR

6.60%

Segments Covered

 By Product, By Material, By Packaging Type, By Class, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Medical Device Packaging Market Geographical Analysis

The North American region holds the largest market share global medical device packaging market

The North American region is dominating the global medical device packaging market accounting for the largest market share in 2019, due to the presence of several manufacturing industries of the medical devices with growing healthcare expenditure. As per the Medtech Europe Organization, in the United States, the medical devices trade to the United States increased to around US$ 2.30 billion followed by the European MedTech trade partners China and Japan.

Similarly, Europe is also growing at a faster pace in the medical device packaging market owing to rising medical devices sale in this region. As per the European Medical Technology Industry Association in 2017, the European medical technology market was estimated to be around US$ 136 billion.

Further increasing the manufacturing industry of medical devices in Europe has propelled the demand for the medical device packaging market. Europe is the second-largest medical technology market with almost 27,000 medical technology companies in Europe. It created a massive demand for the medical devices packaging market in this region followed by the Asia-Pacific region.

Competitive Landscape

The medical device packaging market is moderately competitive with the presence of local and global companies. Some of the key players which are contributing to the growth of the market include WestRock Company, Amcor, Constantia Flexibles Group GmbH, Bemis, Sonoco Company, Avery Dennison Corporation, 3M Company, Aphena Pharma Solutions, Beacon Converters, Inc, Berry Global Inc, Clondalkin Group, Constantia, Klöckner Pentaplast, Mitsubishi Chemical Holdings Corporation and among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance, on31st March 2017, Sonoco launched ClearGuard's New Portfolio of Clear Barrier Flexible Packaging Sonoco which offers transparency and builds trust with consumers while providing best-in-class barrier properties for product protection.

Sonoco

Overview: It the Founded in 1899, and headquartered in Hartsville, South Carolina, United States. Sonoco is one of the global leading manufacturers of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. The Company has 23,000 employees working in more than 300 operations in 36 countries, serving some of the world’s best-known brands in some 85 nations.

Product Portfolio: The Company has a diverse product portfolio of Medical devices Portfolio: Consumer Products, Industrial Products, Protective Packaging, Sustainability, Recycling, Packaging Services, Displays, Paper, Tubes & Cores, and Temperature Assurance Packaging

  • Protective Packaging Solutions:
    • Custom DunnageTransGuard: TransGuard offers benefits like height customization, lower packaging costs, superior part protection, years of use, and maximized truck yield. TransGuard totes are particularly effective in applications where a lighter weight container allows you to hold more parts and where height customization can greatly decrease shipping costs. Also, TransGuard solutions are recyclable.

Medical Device Packaging Industry Key Development:

  • Further, on 15th Sept 2020, Sonoco ThermoSafe, a subsidiary of Sonoco and a provider of temperature assurance packaging for life sciences and healthcare launched a new Pegasus ULD bulk temperature-controlled container which received FAA (Federal Aviation Administration) approval as a unit load device (ULD)
  • On3rd Aug2019, Sonoco completed the acquisition of the Can Packaging Company a privately owned designer and manufacturer of sustainable paper packaging and related manufacturing equipment for approximately US$49 million. The acquisition fulfilled the demand for sustainable paperboard packaging from several large consumers.

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