The global medical device packaging market size is expected to be worth around US$ 51.90 billion by 2030, according to a new report by Vision Research Reports.
The global medical device packaging market size was valued at US$ 31.70 billion in 2020 and is anticipated to grow at a CAGR of 9.4% during forecast period 2021 to 2030.
|Market Size||USD 51.90 billion by 2030|
|Growth Rate||CAGR of 9.4% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Material, Product, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Amcor plc; Sonoco Products Company; Mondi; CCL Industries; Constantia Flexibles; WestRock Company; Berry Global Inc.; Glenroy Inc.; SteriPack Group; Riverside Medical Packaging Company Ltd.|
The market growth is attributed to the growing demand for medical devices, such as surgical implants and instruments, medical supplies, electro-medical equipment, and in-vitro dignostic equipment. The increasing aging population that requires advanced medical treatments, coupled with the unhealthy lifestyles of people, has been resulting in the high prevalence of chronic diseases.
The increasing demand for medical devices such as surgical implants and instruments, medical supplies, electro-medical equipment and reagents, irradiation apparatuses, and dental goods has been driving the demand for medical device packaging products. Unhealthy lifestyles of people have been resulting in the high prevalence of chronic diseases, such as heart disease, cancer, diabetes, stroke, and arthritis, in recent years, especially in developed economies.
By Material Analysis
Plastic held the highest share of over 60.05% in 2020 and is likely to maintain its position over the forecast period. Plastic emerged as the most widely used material in the market in 2020. Various types of plastic include low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), polypropylene (PP), and polyethylene terephthalate (PET).
Aluminum is the most common metal used in medical device packaging. It is effective against moisture, oxygen, and light; thus, it is majorly used as a foil in medical device packaging.
By Product Analysis
The pouches and bags segment held the highest share of more than 37.0% in 2020. They effectively pack small, mid-sized, and large medical devices. Their small size and high product-to-package ratio enable easy storage and handling of medical devices. Pouches and bags, when manufactured using appropriate materials like LLDPE and PET, have the ability to offer protection to devices against light, moisture, and gases.
Trays come in different formats such as plastic medical trays, medical shipping trays, and medical inspection trays. Trays are more durable for the packaging and shipping of medical parts and machine parts of medical devices.
Packaging for medical devices and related components is highly regulated and should meet specific requirements. Boxes that are prepared with cardboard are widely used for the safe packaging and transportation of medical devices.
By Application Analysis
Equipment and tools held the greatest share of over 30.05% in 2020. They require flexible packaging with a high degree of sterilization. The majority of the tools come in flexible packaging materials, such as plastic pouches, plastic trays, bags, and clamshells.
the equipment segment offers medical device packaging solutions for CT scanners, X-ray machines, MRI machines, ultrasound scanners, and many other diagnostic medical devices. These are large-size devices and need structured packaging solutions as they are potentially purchased by hospitals and other healthcare facilities.
The in-vitro diagnostic (IVD) application segment is projected to register the fastest CAGR of 7.5% over the forecast period. This growth is attributed to the high adoption of IVDs for testing COVID patients.
By Regional Analysis
Europe held the greatest share of over 35.0% in 2020. Following Germany, the U.K. emerged as a key market in 2020. The country is characterized by the presence of several well-established device manufacturing companies operating locally as well as in the international market.
North America captured the second-largest share in 2020 on account of the robust medical sector and the presence of numerous entities catering to the healthcare domain.
Asia Pacific is expected to witness the fastest growth over the forecast period. In Asia Pacific, China is the world’s fastest-growing economy and one of the biggest markets for medical devices in the world.
Sonoco Products Company
Berry Global Inc.
Riverside Medical Packaging Company Ltd.
Paper & Paperboard
Pouches & Bags
Equipment & Tools
Central & South America
Middle East & Africa
The Medical Device Packaging market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Medical Device Packaging market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Medical Device Packaging market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Device Packaging market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Device Packaging market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Medical Device Packaging capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Medical Device Packaging by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Device Packaging market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Device Packaging market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Device Packaging market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Medical Device Packaging industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Medical Device Packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Device Packaging market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Device Packaging market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Device Packaging market. These factors have benefited the growth of the global market for Medical Device Packaging. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Device Packaging. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Medical Device Packaging are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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