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An in-depth study of the global medical device packaging market and segmentation by product type (trays, pouches, clamshells, and others) and by geography (APAC, North America, Europe, and ROW). The report also presents the major drivers influencing the growth of the market and the challenges faced by the vendors in the market. Amcor, Bemis, Berry Plastics, Gerresheimer, and WestRock are the top vendors considered in the report.
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 provides 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.
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.
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.
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 -
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.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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