In terms of revenue, the Global Medical Device Packaging Market is expected to reach USD 33.3 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.20% from 2022 to 2028.
The global market for Medical Device Packaging has shown exceptional expansion over the past several years. Due to rising demand from the medical devices industry and rising healthcare spending by major nations, the market for Medical Device Packaging products has been driven by the rising demand for medical devices such as surgical implants and instruments, medical supplies, electro-medical equipment, in-vitro diagnostic equipment and reagents, irradiation apparatuses, and dentistry items. In recent years, especially in developed nations, unhealthy lifestyles have contributed to the increasing prevalence of chronic diseases like heart disease, cancer, diabetes, stroke, and arthritis.
Key Highlights from Report:
- Sterile Packaging commands the biggest market share. Because the drugs must be shielded from any contamination by the contaminated environment. Additionally, surgical supplies are kept in sterile solutions to prevent any form of spoiling.
- The Pouches accounted for the highest proportion of the Medical Device Packaging Market in 2021. Due to their widespread use as containers for small- to medium-sized soft and semi-soft medical goods supplied in unit quantities and resistance to damage during shipment and storage, Intravenous (IV) catheters, IV administration sets, dialysis disconnect caps, wound dressings, small surgical instruments, diagnostic test packs, sutures, and dental supplies are examples of applications particular to pouches.
- North America is anticipated to hold a significant market share for Medical Device Packaging worldwide. The region's market is expected to expand due to industrialized nations' strong economies, aging populations, and sophisticated medical delivery systems. Additionally, the expansion of the market is boosted by the population sizes of various nations, intensification of healthcare spending, total levels of GDP, and the design of health insurance plans.
The Medical Device PackagingMarket value is growing along with the demand for healthcare products because of the prevalence of infectious and chronic diseases. The introduction of several sophisticated medical devices that need specialized packaging, technological advancements in the medical device industry, and the rising demand for creative packaging solutions because of increased global production and supply of medical devices, medications, and drugs all contribute to the market's expansion. Additionally, the expansion of the Medical Device Packaging Market is aided by an increase in healthcare spending brought on by an increase in health awareness. Strict laws and regulations enacted by governments worldwide impede the expansion of the global market. In addition, the demand has grown.
North America will represent a sizeable portion of the global market for Medical Device Packaging. In 2021, the North American market for Medical Device Packaging was estimated to be worth USD 96,440 million. States in North America, notably the United States, have accounted for the greatest proportion of the Medical Device Packaging Market due to the medical sector's existence and the prevalence of numerous entities specializing in the health sector. Given the importance of innovation in the prevention, treatment, and diagnosis of medical conditions, these initiatives by medical device manufacturers are expected to accelerate the industry's growth.
The Global Medical Device Packaging Market is Segmented as follows:
- Material Types
- Paper & Paperboard
- Other Material Types
- Product Types
- Clamshell Packs
- Other Product Types
- Sterile Packaging
- Non-Sterile Packaging
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
A list of the Key Players of the Global Medical Device Packaging Market is:
3M Company, Amcor Limited, Berry Global Inc., CCL Industries Inc., Constantia Flexibles, DuPont, Klöckner Pentaplast Group, Mitsubishi Chemical Holdings Corporation, WestRock Company, Sonoco Products Company
The Global Medical Device Packaging Market Scope can be Tabulated as below:
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|