Medical Devices Secondary Packaging Market is Projected to Have a Robust CAGR of 6.1% by 2033 | FMI

The global medical device secondary packaging market is expected to be worth USD 12,409.8 million in 2023, rising to USD 20,914 million by 2033. The adoption of medical device secondary packaging is expected to surge at a stable CAGR of 6.1% over the forecast period.

The medical device secondary packaging market is experiencing significant growth driven by several key factors. The increasing aging population and the associated rise in chronic diseases are driving the demand for medical devices such as pacemakers, stents, and artificial joints, leading to an increased need for proper packaging to ensure the safety and integrity of these devices.

Advancements in medical technology have also led to the development of new medical devices, requiring manufacturers to invest in packaging solutions to protect them during transportation and storage.

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In addition, the growing demand for minimally invasive surgical procedures is driving the need for smaller medical devices and appropriate packaging solutions to ensure safe delivery to the surgical site. Stringent regulations for medical device secondary packaging are also playing a key role in driving demand as governments around the world implement standards to protect the safety and integrity of the devices.

Furthermore, rising awareness about the importance of proper packaging in extending the shelf life of medical devices is also driving demand.
While the adoption of medical device secondary packaging is expected to experience significant growth, manufacturers are also facing several challenges. One of the prominent challenges is meeting stringent regulations and compliance requirements to ensure the safety and integrity of medical devices.

Another challenge is ensuring the compatibility of packaging materials with medical devices to avoid any damage. Managing costs while maintaining high standards of quality is also a significant challenge for manufacturers as they strive to produce packaging solutions at a competitive price while meeting industry standards.

Key Takeaways from the Medical Device Secondary Packaging Market:

• The paper and paperboard market is predicted to account for USD 14,293.2 million by 2032 and to grow at a 5.5% CAGR throughout the projection period.
• During the projection period, the plastic segment is expected to offer a growth potential of USD 6,620.8 million. In 2022, the boxes sector accounted for about 30% of the market. This category is also predicted to rise at a healthy 5.5% CAGR throughout the projection period.
• Folding cartons are expected to represent an incremental potential of USD 1.9 billion over the projection period and to account for more than 21% of the market by 2032.
• During the projection period, the medical device secondary packaging sector in the United States is expected to exceed USD 5,067.6 million.
• This German market is predicted to provide a startling additional opportunity of USD 1,030.4 million, making it an appealing location for both investors and producers.
• By 2032, China's medical device secondary packaging industry is expected to be worth USD 1,270.1 million.

Who is Winning?

Product innovation, market expansion into new markets, strategic alliances and collaborations, and acquisitions are common growth tactics employed by the industry's leading players. Startups in the market are developing innovative technologies to efficiently label medical devices.

Packaging companies may save validation time and eventually create smaller batch sizes that comply with customer specifications by applying the same processes for identical medical devices with a few minor adjustments. The use of NFC and RFID tags in packaging materials is expected to be promoted by counterfeiting, which is a serious problem with medical supplies.

Key Players in the market are

• Sonoco Products Company
• Smurfit Kappa
• Berry Global Group, Inc.
• Constantia Flexibles Group GmbH
• UFP Technologies
• Placon Incorporated
• Steripack Group
• Nelipak Group
• Stora Enso Oyj
• Winpak Ltd
• Graphic Packaging International, LLC
• Atlantic Packaging
• Pro-tech Design & Manufacturing Inc.
• Scan Modul B.V.
• Körber AG
• The BoxMaker

Recent Developments in the Market:

• Ashfield, a subsidiary of UDG Healthcare plc, announced the development of three business divisions in January 2021 to expand and diversify its healthcare capabilities.
• In April 2021, Amcor presented its most recent invention, the New AmSkyTM blister system. This innovation has the potential to revolutionize medical packaging sustainability.
• In April 2020, Amcor's ULTRA pouches were certified for steam sterilization at 134°C and vaporized hydrogen peroxide treatment. As a result, the pouches may be used to sterilize reusable medical equipment.

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Medical Devices Secondary Packaging Market by Category

By Material:

• Paper and Paperboard
• Plastics

By Packaging Format:

• Boxes
• Folding Cartons
• Bags and Pouch
• Trays
• Inserts and Dividers
• Wrapping Films

By End Use:

• Surgical
• Therapeutic
• Diagnostic

By Region:

• North America
• Latin America
• Europe
• South Asia and the Pacific
• East Asia
• The Middle East and Africa

Have a Look at Related Research Reports on the Packaging Domain:

Cosmetic Dropper Market - https://www.futuremarketinsights.com/reports/cosmetic-dropper-market

Trays Market - https://www.futuremarketinsights.com/reports/trays-market

Portion Packs Market - https://www.futuremarketinsights.com/reports/portion-packs-market

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This release was published on openPR.