The packaging of medical devices has become an integral part of the modern day medical device industry. It has numerous strategic and safety implications for the medical devices. The report on global medical device packaging market provides comprehensive analysis for the period of 2015 to 2023. According to the report the global medical device packaging market is projected to grow with a CAGR between 5.8% and 6.3% from 2017 to 2023.
Figure 1: Global Medical Device Packaging Market by Value 2017 - 2023
The report identified that the medical device packaging market is driven by factors such as, growing importance of medical device packaging to prevent counterfeiting of medical devices, growing demand for implantable devices, and technological advancements and innovative packaging methods in medical device packaging. On the other hand, the restraining factors identified in the study include stringent regulations in developed economies, and requirement of huge initial capital investment.
Increasing sales of medical consumables and emergence of the pharmaceutical industry in the Asia Pacific and Latin America provide opportunity for major players in the emerging and developing economies. Improving the awareness about medical device packaging for products among physicians and public in non-developed markets is a challenge for the major players to expand further during the forecast period.
The report segments the medical device packaging market on the basis of material, packaging type and region. The market size of each segment has been provided in terms of value (USD). The market segmentation by packaging type includes trays, bags, pouches, clamshell packs and others. The market segments by material include paper, plastic, paperboard and others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
Figure 2: Global Medical Device Packaging Market by Region
North America is the key consumer of the medical device packaging products in the global market. In 2016, this region accounted for over 32% share in the global market. Moreover, the Asia-Pacific region is projected to grow at the highest CAGR over the forecast period. High demand from countries such as Japan, India and South Korea are likely to drive the growth in the Asia-pacific medical device packaging market. Moreover, emerging economies across APAC region expected to be a factor for growth during forecast period.
The companies covered in the report include Amcor Limited, Bemis Company Inc., Chesapeake Limited, E. I. du Pont de Nemours and Company, Klöckner Pentaplast Group, 3M Company, WestRock Company, Mitsubishi Chemical Holdings Corporation, and Oliver Healthcare Packaging.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of medical device packaging globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider.
The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of medical device packaging. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the medical device packaging market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market strategies of the leading players.
This report will help manufacturers, suppliers and distributors of the medical device packaging market to understand the present and future trends in this market and formulate their strategies accordingly.
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