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The Global Medical Device Packaging Market size is estimated to grow by USD 15.66 billion and the medical device packaging market size forecast is set to increase at a CAGR of 10.16% between 2022 and 2027. The growth of the market depends on several factors, including the growing adoption of the medical device market, high healthcare expenditure on medical technologies, and a shift toward smart packaging of medical devices.
This market research report extensively covers market segmentation by product (pouches, trays, clamshells, and other products), application (equipment and tools, in-vitro diagnostic, devices, and implants), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Based on product, the market is segmented into pouches, trays, clamshells, and other products. The pouches segment shows a gradual increase in the market share of USD 6.95 billion in 2017 and continue to grow by 2021. The pouches segment held the highest market share in 2022 and is further expected to remain the largest revenue-generating segment during the forecast period. Pouches are widely manufactured using materials such as paper, synthetic fiber, and aluminium 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. Tyvek pouches are tough, as they can resist puncture and provide protection against microbial growth.
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The sterilization of medical devices or implants is a critical requirement in the packaging of medical devices. 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 market.
Under application, segment falls equipment and tools, in-vitro diagnostic, devices, and implants. Equipment and tools are leading the market. Medical equipment refers to specially designed tools or devices used for performing specific actions or carrying out desired effects during a check-up or performing surgeries. The high demand for medical equipment and tools is expected to grow across the globe during the forecast period due to the rise in the number of surgeries worldwide, favorable reimbursement policies, and the adoption of technologically advanced medical instruments for diagnosis. Therefore, packaging of such instruments has to follow certain standards such as ISO standards, to avoid such tools and devices to get contaminated or exposed. Thus, growing demand for medical equipment and tool across healthcare facilities lead to the growth of the global medical device packaging market during the forecast period.
Europe is projected to contribute 29% by 2023. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The increase in healthcare expenditures and the strong presence of established vendors are driving the growth of the medical device packaging market in this region. Germany is the largest revenue contributor to the medical device packaging market in Europe, followed by France and the UK. The medical devices packaging market in Germany is almost entirely made up of SMEs, is highly innovative, and generates most of its revenue from exports. In addition, rapid market approval processes and the quality and cost-effectiveness of its clinical research are attracting medical device companies to expand their market penetration in Germany.
The large-scale vaccination campaigns and the restart of operations in healthcare units increased the inflows of patients', routine health check-ups and treatments of various ailments in treatment facilities in 2021, compared with 2020. Thus, considering the rising need for treatments from healthcare facilities, the demand for medical devices in Europe will rise, allowing the medical device packaging market in Europe to develop significantly throughout the forecast period.
The growing adoption of medical devices is notably driving market growth. The medical device packaging market is highly diversified and produces a wide range of packaging for medical devices such as trays, pouches, and clamshells. The demand for medical devices such as diagnostic equipment, rehabilitation products, surgery devices, technical aid products, intensive care units, and hygiene devices will grow during the forecast period. Factors such as rapid market approval processes and the quality and cost-effectiveness of its clinical research are attracting medical device companies to expand their market penetration in advanced European countries such as Germany.
The prevalence of chronic diseases and other risk factors such as diabetes, hypertension, smoking, and obesity is significantly increasing due to the growing geriatric population. This is driving the demand for healthcare products, including medical devices, across the globe. The growth of the medical device market can also be attributed to the increase in the number of shipments of medical devices, which translates to a greater need for packaging materials. Thus, the growth of the medical device market in the region will drive the market during the forecast period.
Technological advances in medical device packaging is the key trend driving the market growth. Application of technology in implantable medical devices, medical imaging devices, home healthcare products, and supercomputing devices will drive the need for innovative packaging solutions. For instance, hermetic packaging is required in implantable medical devices to protect the implant electronic circuitry against the harsh environment of the human body. This technology is widely used in miniaturized implantable medical devices.
In addition, the use of polyethylene terephthalate glycol (PETG) thermoform packaging designed for functioning in both sterile and non-sterile environments will also increase the market for medical device packaging. Other innovative packaging designs and technologies such as temperature-controlled sterilized containers, compression molding, liquid injection molding, and transfer molding are also driving the market. In addition, quality assurance of the final product because of the introduction of the automatic handling packaging process will further strengthen the market.
Lack of awareness and acceptance of green packaging solutions is the major challenge impeding 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 vendors 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. Buyers in such countries prefer crude oil-based polymer resins, which are less expensive compared with bio-based polymers.
The lack of acceptance of various biodegradable packaging solutions is attributed to various other factors as well. For instance, paper is more biodegradable than plastics, but the production of paper shopping bags demands more energy and water consumption and releases more greenhouse gases compared to the production of plastic packaging. 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 growth of the global green packaging market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Medical Device Packaging Market Customer Landscape
Vendors 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.
Wipak Group - The company offers medical device packaging of single-use medical instruments such as syringes, needles, catheters, tubings, wound care, drapes, gowns, gloves, procedural kits, and renal therapy products. Under the flexible packaging segment, the company includes modified atmosphere packaging, specialty films, and biaxially oriented nylon product groups. Under the rigid packaging and flexible lidding segment, the company includes rigid containers, lidding, and specialized printed packaging product groups.
The medical device packaging market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The medical device packaging market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Medical Device Packaging Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.16% |
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Market growth 2023-2027 |
USD 15.66 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.86 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 29% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amcor Plc, Berry Global Group Inc., CCL Industries Inc., Constantia Flexibles Group GmbH, DuPont de Nemours Inc., Gerresheimer AG, Glenroy Inc., Healthcare Print and Packaging Ltd., J Pac LLC, KP Holding GmbH and Co. KG, Oliver Healthcare Packaging Co., RENOLIT SE, Riverside Medical Packaging Co. Ltd., Rohrer Corp., rose plastic AG, Sonoco Products Co., West Pharmaceutical Services Inc., Westfield Medical Ltd., WestRock Co., and Wipak Group |
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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 forecast period |
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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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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