Medical Device Packaging Market : USD 30 Billion at CAGR of 6% | forecast for the next 5 years of various segments and sub-segments

Global Medical Device Packaging Information by Material (Plastic, Paper & Paperboard and others), by Product (Pouches, Trays, Bags, Clamshell Packs and others), and Region - Forecast to 2022

Market Scenario

The key drivers for the growth of the medical device packaging market are the growing healthcare industry. There is an increased demand for such packaging by the medical device manufacturers on a large scale. The packaging industry on the other hand are seen investing heavily on various technological advancements. On the basis of product type, Pouches contributes the largest to the market, majorly due to its cost-effectiveness and infection resistant specification. Cost sensitiveness and declining healthcare costs are hampering the growth of the global medical device packaging market. North-America contributes largely to overall market share. The global medical device packaging market size is expected to cross USD 30 Billion at CAGR of approximately 6% by 2022.

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Key Players

• Amcor Limited
• Bemis Company Inc
• Chesapeake Limited
• E. I. du Pont de Nemours and Company
• Klöckner Pentaplast Group
• 3M Company
• WestRock Company
• Mitsubishi Chemical Holdings Corporation
• Oliver-Tolas

These are some of the prominent players at the forefront of competition in the global Medical Device Packaging market and are profiled in MRFR Analysis.

Some of the major factors driving the market for medical device packaging market are expanding medical device packaging market, growing need of flexible packaging for the medical device packaging market, and increasing innovative products such as child resistant and tamper evident packaging are fuelling the growth of this market. Increasing healthcare expenditures along with growing health awareness among aging population may drive industry growth. Rising environmental concerns and providing better microbial packing may boost the sterile therapeutic packing, thereby enhancing the medical device packaging market growth. Rising demand from the health care sector, usage of reliable packing and growing aging population may fuel product demand. Availability of new products in the field of biopharmaceutical and biologics supported by requirements for better compliance may drive industry growth. Furthermore, growing complexities in product engineering coupled with increasing number of entrant manufacturers are expected to propel the medical device outsourcing industry with lucrative growth opportunities.

Accrediting the colossal growth the Medical Device Packaging market is witnessing currently and the potential the market is demonstrating to accrue pervasively further in the years to come; the Market Research Future has recently published a meticulous study report giving out the complete market insight up till 2023. According to which, continuing with the same trends the global Medical Device Packaging market is projected to perceive an outstanding growth by 2023 registering a striking CAGR during the anticipated period (2017 – 2023).

Industry Overview:

The major factors driving the growth of this market are the increased demand of flexible packaging, growing medical device market, increasing importance of packaging for medical device, increase in demand for innovative products such as child resistant and tamper evident packaging are fuelling the growth of the medical device packaging market. On the other hand, stringent government regulations may hinder the growth of the market.

The industry is facing huge pressure to decrease the cost as the end-use industries are mainly focusing towards product innovation by investing in the R&D. Companies are forming strategic alliances in order to reduce product costs. Intensifying healthcare costs may create multiple competition which will weaken the overall production and increase price sensitivity to packing cost thereby affecting medical device packaging market price trend.

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Medical Device Packaging Market – Segments

For the convenience of the report and enhanced understanding; The Medical Device Packaging Market is segmented in to 3key dynamics

Segmentation By Material - Plastic, Paper & Paperboard and others

Segmentation By Product- Pouches, Trays, Bags, Clamshell Packs and others

Segmentation by Regions- Comprises regions - North America, Europe, APAC and Rest of the World.

Medical Device Packaging Market – Regional Analysis

The global Medical Device Packaging market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America region constitutes the largest share in the medical packaging market. This is a developed market due to the high standard of living of consumers. The U.S. accounted for the largest country-level market for medical packaging, globally. The fastest growing markets include India, Mexico, China, and the more prosperous Africa/Mideast countries, where market and regulatory forces are raising packaging quality and functionality

Europe medical device packaging market size, led by UK, France, Italy, and Germany, may have a strong market share due to strong security protection of therapeutic equipment supported by government regulations will drive regional industry growth.

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