The medical device packaging market will reach $34 billion by 2027. Approximately $6 billion in sterile packaging industry opportunities

Global Medical Devices Packaging Market was valued at USD 24.5 Billion in 2021 and is projected to reach USD 34 Billion by 2027.

Chicago, April 14, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the medical device packaging market is expected to grow at a CAGR of 5.6% over the period 2022-2027. Innovation, technology, marketing and price war are some of the crucial trends influencing market dynamics. Major market drivers include growing demand for medical devices, innovative packaging, and long shelf life packaging.

The global medical device packaging market is expected to witness an impressive growth rate owing to the surge in demand for new packaging solutions due to increase in manufacturing and improvement in supply chain. supply of medical devices around the world.

Scope of Medical Device Packaging Market Report

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Packaging companies are integrating next-generation features such as 3D packaging and enabling specific medical device sensors to achieve the small size and thin thickness required to adapt to the environment and highly complex surfaces of a human body. In addition, packaged medical devices also focus on 3D packaging integration technology which provides superior accuracy and efficiency. With increasing technological and regulatory challenges, medical device manufacturers (MDMs) have realized the importance of determining the best packaging and sterilization solutions in the design process. Consequently, the Internet of Things (IoT) continues to grow, medical device packaging has evolved into a two-way connected platform that builds real-time digital bridges to share information, nurture relationships and provide information like never before.

The story continues

Switching from glass to plastic packaging material
In recent years, plastics continue to be widely used in packaging for medical and dental applications. High performance plastics are expected to grow at a much faster rate than commodity plastics. In response to this trend, most specialty polymer manufacturers have expanded their product portfolio towards high performance medical grade polymers. Plastic medical products are transforming the healthcare industry. The increased use of polymers in medical devices has renovated the market, with plastic medical devices gradually replacing other materials such as metals, glass and ceramics.

Highlights

• Rapid technological advances in medical devices and new medical devices require specialized packaging solutions. Favorable patient demographics and increasing consumption of a wide range of medical devices are fueling the need for safe and effective medical device packaging.

• Growing environmental concerns coupled with an increased focus on reducing hospital-acquired infections (HAIs), as well as the need for sterile medical devices have led to the use of innovative and environmentally friendly packaging solutions.

• India is expected to experience the highest absolute growth of around 60% owing to a sudden surge in demand for a wide range of medical devices across various healthcare institutions in the country. The COVID-19 pandemic has created significant growth opportunities for medical device manufacturers in the country and led to an increase in demand for packaging solutions for medical applications.

Global Medical Devices Market Segmentation Analysis

In 2021, contract manufacturing organizations (CMOs) accounted for a 41% revenue share. Financial sponsors were attracted by the availability of independent acquisition targets with strong growth potential and therefore the prospect of significant returns on investment. The increased need for reliable and safe medical devices and growing interest in strategic partnerships are driving the demand for specialty CDMOs.

Market segmentation by type of product

• Bags and pouches

• Containers

• Trays

• Boxes

• Others

Market segmentation by type of material

• Plastic

• Paper and cardboard

• Others

Market segmentation by Type of packaging

• Primary packaging

• Secondary packaging

• Tertiary packaging

Market segmentation by Application

• Sterile packaging

• Non-sterile packaging

Market segmentation by Final user

Market segmentation by geography

• North America

• Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

• APAC

  • Japan

  • China

  • India

  • South Korea

  • Australia

• Latin America

• Middle East and Africa

  • Turkey

  • Saudi Arabia

  • South Africa

Strategies adopted by players to maintain competition in the market

The competitive landscape of the global medical device packaging market is fragmented due to the presence of several key players. Furthermore, major companies are adopting strategies such as new product launches, joint ventures, mergers, partnerships, and buyouts to stay ahead of the competitive curve of the market. For example, in May 2020, MedAccred said it would continue to provide support and expansion in the medical device industry. The company has included new plastic mechanical assembly and sterile device packaging audit processes and has approved many new suppliers over the past year.

Key players

Other Important Suppliers

• American packaging company

• Atlas Vacuum Cleaner

• Ayka Medical Inc

• Airnov

• Bay Global Inc.

• Biomeric Society

• Brentwood Medical

• The box maker

• Eagle flexible packaging

• GOEX Corporation

• Glenroy

• International graphic packaging

• Klockner Pentaplast

• Keystone Folding Box Company

• Monadnock Paper Mills

• OLIVIER

• PAXXUS

• place

• Lent Corporation

• printing package

• Sonoco Healthcare Packaging

• SteriPack Group

• Tekni-Plex

• Wipak

Discover our Healthcare Life Sciences profile to learn more about the industry.

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