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The medical device packaging market size is forecast to increase by USD 15.3 billion at a CAGR of 8.8% between 2023 and 2028. The surge in healthcare spending, notably on medical technologies, drives market growth significantly. Factors such as the expanding elderly population, heightened public demand, and advancements in medical technology contribute to this rise. Europe witnesses substantial expenditure, particularly on Biologics and pharmaceuticals. An emerging trend is the escalating demand for child-resistant packaging in the global market.
Manufacturers respond with innovative solutions like compostable packaging and durable materials such as glass and plastics. These products prioritize sterility, hygiene, and aesthetics while offering cost-friendliness and versatility. With increasing market potential, the demand for PPE, including face shields, continues to grow, meeting FDA standards for safety and efficacy.
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The sterile packaging segment is estimated to witness significant growth during the forecast period. A product against contamination is protected with the sterile packaging of a medical device. It offers a device barrier between the device and its environment.
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The sterile packaging was the largest segment and was valued at USD 12.25 billion in 2018. They are frequently applied to invasive, Incipient, or single-use products that have come into contact with human tissue and fluids. A variety of materials, such as foil packages, Tyvek pouches, and rigid packs, are commonly used for the packing of sterile devices. The material must be resistant to air and water vapor. That way, the package can be prevented from being contaminated with microorganisms. Thus, the sterile packaging-segment is expected to grow significantly as it avoids contamination as well as protects them from physical damage in the global market during the forecast period.
Based on the product, the market has been segmented into pouches, trays, clamshells, and boxes and others. The pouches segment will account for the largest share of this segment.?Pouches are widely manufactured using materials such as paper, synthetic fiber, and aluminum films. Cardiovascular implants such as cardiac pacemakers and coronary stents are usually packed in pouches made from a combination of Tyvek or nylon and polyethylene. The lower cost of pouch-packaging than the other types of packaging-solutions is driving the pouch-packaging segment. Also, the increase in demand for sterilized, single-use products such as disposable balloons, dilation catheters, and syringes packed using pouches is driving the global market through the pouches segment during the forecast period.
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Europe is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe accounts for more than 25,000 medical technology companies, most of which are based in Germany, the UK, Italy, Switzerland, France, and Spain. Small and medium enterprises (SMEs) make up almost 95% of the medical technology industry, which requires frequent medical device-packaging. The industry in this region is expected to experience growth owing to efficient logistics connectivity and developed infrastructure.
In addition, the increase in healthcare expenditures and the strong presence of established companies are driving the growth of the market in this region. Germany is the largest revenue contributor to the market in Europe, followed by France and the UK. The market in Germany is almost entirely made up of SMEs, is highly innovative, and generates most of its revenue from exports. Such factors are expected to drive the regional market growth during the forecast period.
Rising healthcare expenditure on medical technologies drives market growth significantly. Factors like aging populations, increased public demand, and income growth, alongside advancements in medical technology, contribute to this trend. Medical science breakthroughs empower healthcare professionals to diagnose and treat ailments more effectively, boosting healthcare spending. Particularly in Europe, healthcare expenditure on medical technologies, including IV administration sets and medical appliances, is notably high. The rising demand for child-resistant packaging is a key trend shaping market growth.
This demand drives packaging companies to innovate, ensuring safety with solutions like Amcor Inc.'s puncture-resistant packaging. However, environmental concerns regarding plastic packaging pose a significant challenge. Developing countries' low adoption of bio-based polymers due to infrastructure and cost preferences hinder market growth.
Significant healthcare spending on medical technologies propels market growth, attributed to factors like the aging population, heightened public demand, and income growth. Crucially, advancements in medical technology drive this surge, enabling healthcare staff to diagnose and treat illnesses more effectively. Such innovations amplify healthcare expenditure, particularly notable in Europe. Technological strides in medical science revolutionize treatment methodologies, reflecting the increasing investment in healthcare.
This trend underscores the pivotal role of innovation in shaping healthcare systems and driving market expansion. The high demand for medical technologies in Europe exemplifies the global emphasis on enhancing healthcare capabilities through technological advancement. Additionally, the demand for raw materials, paper laminates, and LLDPE for packaging, along with electronic equipment and software for medical manufacturing, further underscores the industry's growth trajectory. Furthermore, the need for versatile, hygienic, and lightweight disposable consumables, as well as implantable devices and aesthetic implants, drives the market's evolution. Clamshell blister packs, bags, and pouches are also in demand for contract packaging, catering to various medical needs, while gases like oxygen play a critical role in healthcare operations.
Moreover, an increase in healthcare spending on medical technologies brings potentially new types of medical devices to the market. As the availability, number, and types of devices in the market increase, the demand for medical device packaging will also increase. Thus, high healthcare expenditure on medical technologies will increase the demand for advanced packaging, thus driving the growth of the global market during the forecast period.
An increase in demand for child-resistant packaging is an emerging trend shaping the market growth. The increase in demand for tamper-evident or child-resistant packaging solutions is expected to play a significant role in the growth of the global market. This demand is driving various packaging companies to develop medical device packaging that cannot be opened by children. For instance, packaging-products by Amcor Inc. have properties such as burst and puncture resistance and barrier against chemicals, moisture, and water.
Further, the growing concerns about child health in these countries are likely to encourage manufacturers to invest in the region and expand their business in these lucrative and attractive markets. Thus, the growth of the child-resistant packaging-market will drive the global market during the forecast period.
Growing environmental concerns due to plastic packaging is a significant challenge hindering market growth. The low penetration rate and the lack of awareness of the use of bio-based polymers in developing and underdeveloped countries pose a critical challenge to companies in the global green packaging market. Owing to the lack of proper infrastructure and the presence of price-sensitive buyers (the majority of the buyers belong to this category), cost-efficient and easily available packaging-solutions are preferred to green packaging solutions in such countries.
Moreover, the durability of paper gets reduced when it is recycled each time as paper fibers get shortened while recycling, which makes them structurally weak. Thus, the lack of awareness and acceptance of green packaging solutions is expected to limit the green-packaging solutions, which in turn will hamper the growth of the global market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amcor Plc - The company offers medical device packaging such as dual-chamber pouches, grid-coated paper, and crystal shield medical laminates.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including Amcor Plc, Berry Global Inc., CCL Industries Inc., Constantia Flexibles Group GmbH, DuPont de Nemours Inc., Gerresheimer AG, Glenroy Inc., Healthcare Print and PackagingLtd., KP Holding GmbH and Co. KG, Life Science Outsourcing Inc., Oliver Healthcare-Packaging Co., RENOLIT SE, Riverside Medical Packaging.Co. Ltd., Rohrer Corp., rose plastic AG, Sonoco Products Co., STERIMED, West Pharmaceutical Services Inc., WestRock Co., and Wipak Group
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the market, careful attention to market growth analysis and market research and growth is imperative to navigate the evolving landscape of the medical devices sector. As demand surges for high-tech equipment in hospitals and diagnostic centers, considerations for environmental footprint and waste management become increasingly crucial.
To address these concerns, the industry is embracing innovative solutions such as compostable and biodegradable packaging materials, alongside initiatives for utilizing recycled materials and minimizing reliance on plastic materials and Aluminium. From single-use medical gadgets like dialysis disconnect caps to essential items like wound dressings and IV catheters, proper-packaging is essential to ensure product integrity and patient safety.
Furthermore, maintaining a sterile environment is paramount to prevent contamination by pathogenic microbes, necessitating stringent disinfection and sterilization protocols. To enhance security and traceability, tamper-proof packaging integrated with NFC technology is increasingly employed.
As the market continues to expand, strategic market forecasting and market growth forecasting guide the development of efficient waste management systems and sustainable packaging-solutions, ensuring a balance between innovation and environmental responsibility within the medical device industry.
The market research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective growth strategies.
Global Market Customer Landscape
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.8% |
Market Growth 2024-2028 |
USD 15.3 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.78 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 31% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amcor Plc, Berry Global Inc., CCL Industries Inc., Constantia Flexibles Group GmbH, DuPont de Nemours Inc., Gerresheimer AG, Glenroy Inc., Healthcare Print and PackagingLtd., KP Holding GmbH and Co. KG, Life Science Outsourcing Inc., Oliver Healthcare-Packaging Co., RENOLIT SE, Riverside Medical Packaging.Co. Ltd., Rohrer Corp., rose plastic AG, Sonoco Products Co., STERIMED, West Pharmaceutical Services Inc., WestRock Co., and Wipak Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market growth and forecasting report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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