Medical Device Packaging Market (Packaging Type - Trays, Pouches, Bags, Clam Shells, and Other Packaging Types; Application - Sterile Packaging, and Non-sterile Packaging; Material - Paper, Plastic, Paperboard, and Other Material Types): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

A recent report published by Infinium Global Research on the medical device packaging market provides in-depth analysis of segments and sub-segments in the global as well as regional medical device packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional medical device packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global medical device packaging market. According to the report, the global medical device packaging market is projected to grow at a CAGR of 6.20% over the forecast period of 2020-2026.

Market Insight

Packaging for medical devices is an important step in order to maintain product quality until it reached the end-user. However, the packaging process becomes complex for the devices that need to remain under sterile conditions throughout the process of distribution until its application. For an instance, instruments or medical devices used by paramedics in the field must be maintained in sterile conditions during the entire period of transportation and storage, as these devices are intended to be used straight out of the packing. In addition to protection against physical damage to the medical devices, the packaging must also protect medical devices against contamination. On the other side, some medical devices do not need sterile packaging due to their nature or the fact that they will be sterilized after being opened at the delivery site. Such devices required packaging that shields them from the hazards of transportation and storage. Furthermore, regulatory compliances for the packaging materials for medical devices has imposed market players to improve the quality of packaging materials which is expected to boost the demand for medical packaging materials all around the world over the forecast period

The increasing geriatric population, changing disease prevalence is some of the major factors driving the Medical device packaging market across the globe. Furthermore, rising awareness regarding early disease detection & prevention among the middle class and growing innovation to produce customized medical devices to meet the needs of the healthcare sector is boosting the demand for medical devices, which in the turn will fuel the demand for medical device packaging during the forecast period. Furthermore, many medical devices are very expensive and damage one of the components of such devices during transportation can cost a large amount, this is why medical device manufacturers are spending lots of money on efficient packaging materials for better physical damage control. These factors are expected to trigger the growth of the medical device packaging market over the forecast period. However, strict rules & regulations imposed by the government across the world may hamper the growth of the global medical device packaging market. In addition, the increasing need for sterile packaged, tamper-proof, and nonreactive products with great performance & reducing the total cost of ownership is boosting the technological advancements in the global medical device packaging market, thereby creating huge opportunities for the growth of the market during the forecast period.

Geographically, the market for medical device packaging market is divided into North America, Europe, Asia Pacific, and the RoW. Among all, the North America region dominates the medical device packaging market due to advanced medicinal product producers focusing on high value-added equipment with dedicated packing needs. Further, stringent government guidelines coupled with the rising healthcare sector driving regional industry growth. Moreover, the European region is expected to hold a significant share in the medical device packaging market owing to the strong security protection of therapeutic equipment supported by government regulations which will boost the regional industry growth. However, the Asia Pacific region is expected to witness the fastest growth in the medical device packaging market owing to growing export and domestic markets for medicinal goods.

Segment Covered

The report on the global medical device packaging market covers segments such as by packaging type, by application, and by material. On the basis of by packaging type, the sub-markets include trays, pouches, bags, clam shells, and other packaging types. On the basis of by application, the sub-markets include sterile packaging, and non-sterile packaging. On the basis of by material, the sub-markets include paper, plastic, paperboard, and other material types.

Companies Profiled:

The report provides profiles of the companies in the market such as 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, Oliver Healthcare Packaging, and Other companies.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into 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 the medical device packaging market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.