Press release
Medical Devices Packaging Market Emerging Players, Growth Analysis and Precise Outlook - 2026 | Amcor PLC, Berry Plastics Pvt. Ltd., DuPont Company, WestRock Company, Wipak Group
The Medical Devices Packaging Market research report 2021 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The Medical Devices Packaging market report provides information regarding market size, share, trends, growth, cost structure, Medical Devices Packaging market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2026.The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the Medical Devices Packaging market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the Medical Devices Packaging industry and provides data for making strategies to increase market growth and effectiveness. The report covers the post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.
The Medical Devices Packaging Market was valued at USD 29.32 billion in 2020 and expected to reach USD 41.91 billion by 2026 and grow at a CAGR of 6.13% over the forecast period (2021-2026).
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendors/key players in the market. Top Companies in the Global Medical Devices Packaging Market: Amcor PLC, Berry Plastics Pvt. Ltd., DuPont Company, WestRock Company, Mitsubishi Chemical Holdings, Chesapeake Pharmaceutical and Healthcare Packaging, Technipaq Inc., SteriPack Group, Riverside Medical Packaging Company Ltd., Wipak Group, and others.
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Key Market Trends
Pouches is Expected to Hold Major Share
- Pouches are widely used containers for small- to medium-sized soft and semi-soft medical goods sold in unit quantities and are not vulnerable to damage during shipment and storage. Pouches' specific applications include intravenous (IV) catheters, IV administration sets, dialysis disconnect caps, wound dressings, small surgical instruments, diagnostic test packs, sutures, and dental supplies. Many films are used in medical device packaging applications. These materials offer a high degree of versatility and are available in a variety of forms in mono films, laminations, and coextrusions.
- Pouches have been manufactured from laminated paper with polyolefin layers. Uncoated nonwoven polyolefin materials for use in the manufacture of heat-sealable pouches are highly being used. Applications, such as the sterilization method (e.g., the material must tolerate high temperature) and protection requirements (e.g., high puncture resistance), are some features that cater to the demand. Further, selecting the appropriate pouch size prevents the overloading of instruments and allows penetration of the sterilant with adequate air removal and less puncture or tearing.
North America is Expected to Hold Significant Share
- The United States and Canada are developed countries, with prosperous economies, aging population segments, and advanced medical delivery systems. Still, the countries vary measurably in population size, healthcare spending intensities, aggregate gross domestic product (GDP) levels, and the structure of health insurance plans. With advanced primary medical community, extensive medical and life science research activities, high healthcare spending intensity, and large pharmaceutical and medical supply and device industries, the United States accounts for one of the world's largest geographical markets for medical devices and related packaging products.
- In May 2020, Packaging Compliance Labs LLC announced to invest USD 2.57 million for the expansion of its headquarters in the greater Grand Rapids area. The medical device packaging, engineering, and testing firm were awarded a USD 135,000 Jobs Ready Michigan grant from the Michigan Strategic Fund. The expansion of the packaging company significantly contributes to the overall market growth. Further, the US Food and Drug Administration (FDA) regulates sterilization packaging intended for use in healthcare under CFR Title 21 880.6850 and classifies it as a class II medical device.
Latest Market Development:
- April 2020 - April 2020, Amcor's ULTRA pouches were certified for vaporized hydrogen peroxide sterilization as well as steam sterilization at 134C. This means that the pouches can provide a solution for the sterilization of all reusable medical devices. The new accreditation assures that ULTRA pouches are compliant with the latest international and European EN 868 and ISO 11607 standards, including the Sterile Barrier System (SBS) requirement.
- November 2019 - Wipak launched a new pouch specifically developed for packing robotic instruments and other long devices. The pouch keeps the devices sterile during transportation and storage. It is made with an extra-strong paper for better protection, with high puncture resistance and resistance to penetration of any microbial. The pouch also incorporates Wipak's acclaimed Multi - X 9 multilayer film, which consists of nine layers, each with its features and functions.
What are the market factors that are explained in the report?
- Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
- Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
- Analytical Tools: The Medical Devices Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. Analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
For More Information On This Report, Please Visit:
https://www.marketinsightsreports.com/reports/02082591584/medical-devices-packaging-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=Ab56
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
If you have any questions about any of our “Medical Devices Packaging Market Report” or would like to schedule a personalized free demo of the Medical Devices Packaging market report, please do not hesitate to contact me at irfan@marketinsightsreports.com.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. Market insights reports provide global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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