Global Medical Device Packaging Market 2016-2020
Market outlook of medical device packaging
The use of medical device packaging on a large scale by medical device manufacturers, diagnostic centers, and hospitals has led to the growth of the global medical device packaging market, which has resulted in a projected CAGR of over 6% for the market during the forecast period. The evolution from the traditional to the current technological setup in the manufacture of healthcare products has brought the healthcare industry to a stage where it is now furnished with high-tech equipment, technology, and huge investment. These developments in the healthcare industry are expected to expand the production of medical appliances, instruments, and supplies, which will further contribute to the growth of the market.
The demand for flexible packaging is on the rise and the vendors in the market are using innovative pouches features and offering improved protection of medical equipment. The high demand for flexible packaging is due to the benefits it provide such as the ability to be molded into different shapes, chemical resistance, transparency, and durability. Thus, the increasing demand for flexible packaging is likely to spur the growth of the medical device packaging market during the forecast period.
Segmentation and analysis by product of the medical device packaging market
- Clamshell packs
- Other packaging materials
The pouches segment is expected to grow at a moderate rate during the forecast period, posting a CAGR of almost 6%. Many companies are introducing innovative pouches for medical device packaging, which is fueling the growth of the market. One such innovation is the UFP Technologies’ FlexShield, which is a medical device pouch for implants, screws, rods, and other instruments.
Geographical segmentation of the medical device packaging market
- North America
North America holds a significant share of the global medical device packaging market in 2015, in which the US is the largest and primary contributor to the market in this region. Also, the advancement of medical devices and developed healthcare infrastructures will heighten the demand for innovative packaging in North America, thereby driving the growth of the overall market.
Competitive landscape and key vendors
With the local players offering innovative solutions at prices lower than those offered by international players, the competition in the market increase significantly. This competition has motivated vendors to come up with innovative and technologically advanced products to sustain in the market.
The leading vendors in the market are -
- Berry Plastics
Other prominent vendors in the market include 3M, Ahlstrom, Alcan, Alcoa, Barger, Becton, Dickinson, Catalent Pharma Solutions, DeRoyal Industries, DuPont, Eastman Chemical, Heritage Pioneer Corporate Group, Honeywell, Hospira, Janco, Kimberly-Clark, Medline Industries, Oliver Products, Owens-Illinois, Pharma Packaging Solutions, Rollprint Packaging Products, SCHOTT SteriPack, Superior Pack Group, Svenska Cellulosa, Technipaq, Tekni-Plex, TOLAS Health Care Packaging, Unicep Packaging, West Pharmaceutical Services, Wheaton Industries, and Wipak.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global medical device packaging market?
- What are the key market trends impacting the growth of the global medical device packaging market?
- What are the challenges to market growth?
- Who are the key vendors in the global medical device packaging market?
- What are the market opportunities and threats faced by the vendors in the global medical device packaging market?
- Trending factors influencing the market shares of North America, APAC, Europe, and ROW.
- What are the key outcomes of the five forces analysis of the global medical device packaging market?
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