Medical device packaging demand is anticipated to increase globally with a CAGR of 5.3% and reach US$48.1 billion in 2027.
- increased expenditure on healthcare globally, especially in developing nations to stimulate the market.
- Both the prevalence of chronic diseases and healthcare costs have risen.
- As part of continuing development, new IoT and AI products are continually being released.
- To combat the risk of infection in hospitals, antibacterial products are being created.
The adoption of medical device packaging solutions has witnessed a substantial rise, due to the rise in demand for flexible packaging and microbial packaging worldwide. Additionally, increasing efforts by governments in various countries, especially in developing regions such as South and East Asia, to provide basic healthcare facilities to the middle-class group is estimated to create substantial demand for the medical device packaging solutions.
Moreover, the rising demand for monitoring & diagnostic equipment to treat severe chronic diseases globally is contributing to the market growth of medical device packaging.
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Key Takeaways of Medical Device Packaging Market Study
By application, disposable consumables are anticipated to capture nearly half of the market share during the next eight years. The rapidly rising demand for medical device packaging solution to pack and seal variety of disposable consumables such as needles, syringes, and wraps contributes significantly to the market growth.
Bags & pouches and clamshell blister packs are projected to dominate the global device packaging market and hold nearly 2/3rd portion of the market share at the end of 2027.
By raw material segment, Polyethylene (PE) plastic enjoys a consistent demand for manufacturing medical device packaging solutions, owing its key benefits such as pricing efficiency, light weight, and recyclability.
North America and Europe are expected to account for a significant portion of the medical device packaging market share. Rapid expansion of healthcare industry in these regions is driving the growth of medical device packaging market in these regions.
“Manufacturers of medical device packaging can achieve significant profits by targeting APEJ and Europe regions, attributable to the rising demand for flexible medical packaging solutions in diagnostic centers, hospitals, and research institutes in these regions,” says FMI analyst.
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Green Packaging Gaining Traction in Medical Device Packaging Market
Prominent medical device packaging manufacturers are recognising the necessity of sustainable and cost effective packaging solutions. Prominent manufacturers across the globe have already shifted their focus towards sustainable packaging, especially towards flexible packaging, to reduce the carbon footprints released by various medical device packaging solutions. Along with that, the rising trend of “green design packaging”, especially in the healthcare and pharmaceuticals industry, is ultimately contributing to the growth of the medical device packaging market. Moreover, these leading medical device packaging manufacturers are enhancing its manufacturing capabilities by expanding production units.
For Instance, April 2022, Amcor plc., launched AmLite, an ultra-recyclable and high-barrier flexible packaging solution for the pharmaceuticals and healthcare industry. The company reports that this newly developed packaging solution can reduce a pack’s carbon footprint by up to 64%.
For instance, In November 2022, Nelipak Corporation, another manufacturer of medical device packing has expanded its manufacturing operations in Humacao, Puerto Rico. This enabled the company to strength its manufacturing capabilities and effectively cater to the end user demand.
About The Medical Device Packaging Market Report
Future Market Insights, in its new offering, offers an unbiased analysis of the global medical device packaging market, analyzing historical demand from 2012-2021 and forecast statistics for 2022-2027. The study provides growth projections on the medical device packaging market on the basis of packaging type (bags & pouches, containers, trays, stick packs, clamshell blister packs, boxes and other (flow wraps etc.), raw material (PE (HDPE, LDPE & LLDPE), PET, PP, PS, PVC, aluminium, glass, paper laminates, fabric and others (PLA, PHA etc.), application (disposable consumables, monitoring & diagnostic equipment and therapeutic equipment), end user (medical manufacturing, contract packaging and others), across seven regions.
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Key Segments Covered in Medical Device Packaging Industry Research
Medical Device Packaging Market by Packaging Type:
- Bags & Pouches
- Stick Packs
- Clamshell Blister Packs
- Others (Flow Wraps etc.)
Medical Device Packaging Market by Raw Material:
- Paper Laminates
- Others (PLA, PHA etc.)
Medical Device Packaging Market by Application:
- Disposable Consumables
- Monitoring & Diagnostic Equipment
- Therapeutic Equipment
Medical Device Packaging Market by End-user:
- Medical Manufacturing
- Contract Packaging
Key Questions Answered in the Report:
(1) What are the growth opportunities for the new entrants in the Global Medical Device Packaging industry?
(2) Who are the leading players functioning in the Global Medical Device Packaging marketplace?
(3) What are the key strategies participants are likely to adopt to increase their share in the Global Medical Device Packaging industry?
(4) What is the competitive situation in the Global Medical Device Packaging market?
(5) What are the emerging trends that may influence the Global Medical Device Packaging market growth?
(6) Which product type segment will exhibit high CAGR in future?
(7) Which application segment will grab a handsome share in the Global Medical Device Packaging industry?
(8) Which region is lucrative for the manufacturers?
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