Medical Device Packaging Market accounted for US$ 23,097 million in 2020 and is estimated to be US$ 41,581.2 million by 2030 and is anticipated to register a CAGR of 6.1%. The medical device packaging market is an integral part of the medical device industry for maintaining sterility. Protection is necessary by maintaining package integrity, usually, proper packaging is required for medical devices to avoid physical damage, biological contamination, and any other external disturbance, and also need extra care when being shipped or transported from one place to another, and require protection against vibrations, shock, atmospheric changes in humidity and heat. Medical device packaging has been designed to optimize materials and energy, and also they are manufactured utilizing clean, safe methods and can be recycled through renewable materials.
The report " Global Medical Device Packaging Market, By Packaging Type (Pouches, Trays, Boxes, Clamshell Box, and Others), By Material Type (Polymer, Paper & Paperboard, Non - Woven Fabric and Aluminum), By Accessories (Labels and Lidding’s), By Application (Medical Equipment & Tools, Medical Devices, IVDs, Implants), and By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Trends, Analysis and Forecast till 2030”
Key Highlights:
· Amcor launched a multi-chamber pouch for drug-device products on 16 June 2021, Amcor’s variety is a single, multi-compartment pouch with a breathable membrane separating the two chambers, in a safer and simpler design.
· In January 2017, WestRock acquired Multi Packaging Solutions. This acquisition expanded WestRock’s position as a leading provider of differentiated paper and packaging solutions.
· In January 2017, Berry Plastics Group, Inc. acquired AEP Industries, Inc. (U.S.) to increase its breadth of product offerings and increase its production capacity in the market.
Analyst View:
The increasing in the number of chronic diseases and rising reimbursement in healthcare facilities are driving the market growth. The strict healthcare packaging materials should be met with the necessities of packaging applications of medical supplies. The rising demand for medical devices like, surgical implants and instrument, electro-medical equipment, medical supplies, in-vitro diagnostic equipment and reagents, irradiation apparatus and dental goods are driving the demand for medical device packaging products. Unhealthy lifestyles of people have been resulting in the high prevalence of chronic diseases, like heart disease, diabetes, cancer, arthritis, and stroke, in recent years, especially in developed economies. Furthermore, the rise in spending on healthcare services, owing to the majority in health awareness is also boosting the medical device packaging market growth.
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Key Market Insights from the report:
Global Medical Device Packaging Market accounted for US$ 23,097 million in 2020 and is estimated to be US$ 41,581.2 million by 2030 and is anticipated to register a CAGR of 6.1%. The Global Medical Device Packaging Market is segmented by Packaging type, Material type, Application, Accessories, and Region.
· By Packaging type, Global Medical Device Packaging Market is segmented into Pouches, Trays, Boxes, Clamshell Box, and Others.
· By Material Type, Global Medical Device Packaging Market is segmented into Polymer, Paper & Paperboard, Non - Woven Fabric and Aluminum
· By Application, Global Medical Device Packaging Market is segmented into Medical Equipment & Tools, Medical Devices, IVDs, Implants
· By Accessories, Global Medical Device Packaging Market is segmented into Labels and Lidding’s.
· By Region, Global Medical Device Packaging Market is segmented into (North America, Europe, Asia Pacific, Latin America and Middle East & Africa
Competitive Landscape:
The major key players operating in the global medical device packaging market includes E. I. du Pont de Nemours and Company, Amcor Limited, Bemis Company, Inc., SteriPack Contract Manufacturing., Siemens Healthcare, GE Healthcare, West Pharmaceutical Services, Inc., Wipak Group, Riverside Medical Packaging Company Ltd., Placon, and Oracle Packaging limited.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
